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Interest Rate on Loan

INTEREST RATE ON LOAN

Sr. No.

Type of Loans

New Int. Rate(p.a)
(w.e.f .01.07.2018)

    Upto Rs. 25 Lacs Above Rs. 25 Lacs Rs.50 Lacs to Rs. 1 crore Above Rs. 1 crore

1.

*Personal Loan (Unsecured)
(As per limit sanction by BOD time to time)

17.00%

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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)

14.00%

 

13.50%

 

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3.

Vehicle Loans

 a) Existing Borrower of Rs.10 Lakhs  &   above for business purpose

b) General Borrower

c) Commercial use(Truck,Tempo,Picup ,Delivery Van, Lorry, Trailer ,Heavy Vehicle ,to be register with RTO.)

d) Tourist Vehicles(Uber,Ola,Meru,Cool cab, Radio Taxi, as per agreement with co.)

 

11.00%

13.50%

 

14.00%

 

13.00%

 

 

 

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4.

Housing Loan

10.50%

 

10.00%

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5.

Mortgage Loan(Housing/ Additional construction,House Repair/ Renovation,Borrowing  from Friends/Relatives for construction


   13.00%


 13.00%

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6.

*Mortgage Against Property Loan(MAPL)only for Business Purpose

14.00%

14.00%

14.00%

14.00%

7.

Business Loan/ Machinery Loan

13.50%

13.00%

13.00%

13.00%

8.

Shop / Commercial Gala Purchase Loan

13.75%

13.75%

12.75%

12.00%

9.

Loan Against Rent Receivable (Customer)against triparty agreement with Bank

13.00%

13.00%

13.00%

13.00%

10.

Cash Credit Loan(other CC Loan with prime & collateral security

a) Clean Cash Credit up to 5 Lakhs(stock,book debts,sundry debtors,LIC,Property chawl slum area,Deposit)

 

13.50%

 

16.00%

 

13.50%

 

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13.00%

 

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13.00%

 

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11.

Overdraft Loan

a) Over Draft against Gold Ornaments(for 12 months)

(OD is to be renewed every year subject to revaluation of ornament)

14.00%

13.00%

 

14.00%

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13.50%

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13.75%

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12.

Gold Loan(non EMI)

11.50%

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13.

Loan Against(Tangible security)NSC/LIC/KVP/IVP Bonds

12.50%

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14.

Loan/OD Against Term Deposit(Inclusive of accrued Interest)

a) Third Party Deposit

1.00% Excess on applicable interest rate of desposit

15.00%

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15.

Temporary Overdraft(TOD) against clearing

17.00%(verify the system for application)

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16.

Penal interest on overdues loan(unreviewed /unrenewed cc/od accounts)

2.00%on overdue amount

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17.

Infrastructure Loan(against state & central Govt.Work Order or contractors) Startup Enterprises-Purchase of Plant& Machinery & Equipments, Commercial Gala/Unit(SSI,SME)

13.00%

13.00%

12.50%

12.00%

18.

Medico Loan to Setup(Hospital.Nursing Home,Labs,Pathology,Medical Shop,Purchase of Gala,Premises ,Medical equipments,Project Finance)

11.50%

11.50%

11.50%

11.50%

19.

Professional Loan:(Doctors,Pharmist,CA,CS,Engineers,Architectors,Professors,Tution Teachers,Fashion Designers,Spa,Saloons,Artist,Consultants,Valuers

11.50%

11.50%

11.50%

11.50%

20.

Education Loans.

12.00%

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21.

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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