Interest on Loans and Advances

W.E.F. 26-08-2018

Facts & Recommendation:

To make the rate of interest on loans and advances more competitive, we here by recommend revising the rates as under:

Sr. Type of Loans Upto Rs. 5 lakh Above Rs.5 lakh to Rs.10 lakh Above Rs.10 lakh to Exposure Norms Processing Charges (% of loan amount) (excluding GST) One Time Supervision Charges (excluding GST) Margin (%) Repayment Period
01 Local Bill Purchase :
 A

Cheques Purchased


0.5p % per day (Maximum Purchase Rs. 3.00 lakh)
Overnight
 B

DD Purchased

Overnight
02 Cash Credit Facilities :
 A Hypothecation of Stock & Book Debts 11.00%
(Collateral : Fixed Assets)
0.10% Rs. 1,500/- 40% Yearly Renewal
 B

Property Mortgage

10.00% 0.10% Rs. 1,500/- 40% 84 Months
03 Overdraft Limit in CD/OD Account :
 A Against Property 10.00% (Upto 15 lakh)
11.00% (above 15 lakh)
0.10% Rs. 1500/- 40% Yearly Renewal
 B Against Gold ornaments 10.00% (Upto 03 lakh)
11.00% (above 03 lakh)
--- --- 30% Yearly Renewal
 C  Bank's own FDRs O/D [Own Name] 1.00% above the contracted
rate on FDRs
--- --- 10% Upto the date of Maturity 
Bank's own FDRs O/D [Third Party]  1.00% above the contracted
rate on FDRs
--- --- 10% Upto the date of Maturity 
 D Paper Securities (like NSCs, KVPs, LICs, Govt. Bonds etc.,) 10.00% (Upto 05 lakh)
11.00% (above 05 lakh)
--- --- 15% to 25% Upto the date of Maturity
04 Term Loans :
 A Gold Loans (General) 10.00% (Upto 03 lakh)
11.00% (above 03 lakh)
---  ---  35% 12 Months
 B Gold Loans (Bullet) 10.50% [Upto Rs. 2.00 lakh only] ---  ---  35%  12 Months 
 C Consumer Loans 12% [Maximum upto Rs. 1,00,000/-] 25% 36 Months
    13% [Maximum upto Rs. 2,00,000/-] --- 24 Months
 E Professional Loans (Working Capital) 11.00% (Upto 05 lakh) 0.10% Rs.1000/- 20% 60 Months
  Professional Loan against Equipment appliances 13.00% (Upto Rs. 20 lakh)
(Collateral : Fixed assets)
0.10% Rs.1000/- 20% 60 Months
 F Educational Loans (Against Security)  13.00% [Max. Loan amount Rs. 2.00 lakh]  0.50% Rs. 1500/- 10% 60 Months  
 G Housing Loans 08.90% [Max. upto Rs. 30.00 Lakh]  0.50%  Rs. 1500/-  25% 84-180 Months 
 H Machinery Loans  11.00% (Upto 20 lakh) 0.50% Rs. 1500/-  25% 60 Months


 I  
Vehicle Loans
Two Wheeler 12.00% --- --- ---  ---  25% 36 Months
Four Wheeler  10.00% 0.10% Rs. 1000/- 25% 60 Months
 J Property Mortgage  10.00% [upto 15.00 lakh]
11.00% [above 15.00 lakh]
0.50% Rs. 1500/- 25% 180 Months

 
 K
 
Bank's own FDRs
[Own Name] 
1.00% above the contracted
rate on FDRs 
---  ---  10% Upto the date of Maturity 
Bank's own FDRs O/D [Third Party] 1.00% above the contracted
rate on FDRs 
---  ---  10% Upto the date of Maturity
 L Paper Securities (like NSCs, KVPs, LICs, etc.  10.00% [upto 5.00 lakh]
11.00% [above 5.00 lakh]
---  ---  15% to 25%  Upto the date of Maturity
05 Staff Loans:      
 A Staff Personal Loans  8.00% [Max. upto Rs. 2.00 lakh]  ---  ---  ---  48 Months
 B Staff Vehicle Loans  7.00% [Max. upto Rs. 1.00 lakh]  ---  ---  ---  48 Months 
 C Staff Consumer Loans 7.50% [Max. upto Rs. 1.00 lakh] --- --- --- 48 Months
06 Temporary overdraft / against clearing :
 A T.O.D 15% Overnight 
 B Ag. Clearing Interest 15% Overnight 
07 LC / Usance Bills / Financial Guarantee : 
 A LC/Usance Bills Discounted 10.00% + Commission    
 B Commission for Financial Guarantee 1.00% p.a. [of the guarantee issued] 100% [Bank's own FDRs] Yearly Renewal
                        

 

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