Interest Rate on Loan

Sr. No. Type of Loans New Int. Rate(p.a)
(w.e.f .01.12.2021)
Upto Rs. 25 Lacs Above Rs. 25 Lacs Upto 50 Lacs Above Rs. 50 Lacs
1. *Personal Loan (Unsecured)
(As per limit sanction by BOD time to time)
13.00% N.A N.A N.A
2. Salary Deduction Loans (U/s 49 of MSC Act 1960)

a).Group employee/Borrower
(selective cases as pre-santioned by BOD time to time)

13.00%

13.00%

N.A N.A N.A
3. Vehicle Loans

a) Personal Use

b) Commercial Use / Two Wheelar

.

 

10.00%

11.00%

N.A N.A N.A
4. Housing Loan(80% of cost price & maximum loan of RS70.00 lakh) 9.00% 9.50% —- —-
5. Loan Against Property/Over Draft Against Property(Housing/ Additional construction,House Repair/ Renovation,Borrowing  from Friends/Relatives for construction etc)

 

 

10.00% 10.00% 10.00%—- 11.00%—-
Note : Subject to renovation carried within the period od 1 years.
6. Business Loan/ Machinery Loan 11.00% 11.00% 11.00% 11.00%
7. Loan Against Rent Receivable (Upto the tenure of lease agreement) 10.00% 10.00% 10.00% 10.00%
8. Cash Credit Loan(Subject to credit rating) 11.00% 11.00% 11.00% 11.00%
9. Overdraft Loan 11.00% 11.00% 11.00% 11.00%
10. Gold Loan

a)Upto Rs.2.00Lacs (Bulet Payment)

b)Loan With EMI (Maximum 36 Months)

 

10.00%

9.75%

—- —- —-
11. Loan Against(Tangible security)NSC/LIC/KVP/IVP Bonds Up to 10.00 Lacs 9.00% above 10.00 Lacs 9.50% (Margin 15%)
12. Loan Against Term Deposit/OD Against Term Deposit(Inclusive of accrued Interest)

a) Own Deposit

 

 

 

 

b) Third Party Deposit

 

1.00% Excess on applicable interest rate of deposit

2.00% Excess on applicable interest rate of deposit

—- —- —-
13. Temporary Overdraft(TOD) against clearing 17.00%(verify the system for application) —- —- —-
14. Penal interest on overdues loan(unreviewed /unrenewed cc/od accounts) 2.00% on overdue amount —- —- —-
15. Education Loans.

a)      Male Student

b)      Female Student

 

11.00%

10.00%

—- —- —-
16. Builders/Developers/Real Estate/Jewellers. 16.00% 16.00% 16.00% 16.00%

Notes:

1. For all type of loan to women category interest rate will be 0.25% less than applicable interest rate except estate loan

2. In case of Hsg.Loan it is appicable to salaried women and in case of joint ownership the 1st name should be salaried women.

3. The 1st installment due(EMI)in respect of loan will be two months after the date of disbursements.

4. In respect of projects finance minimum moratorium period will be five to six months.

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