Interest Rate Chart

Rate of Interest on Loans & Adavances

With effect from 05th August 2017 (Board resolution dated 05/08/2017)

Housing

Loans

New Vehicle

Loans*

Second Hand Vehicle Loans*

Agriculture Loans

Mortgage

Loans

Long Term Business Loans

 

11.00%

20 years/

240 months

(Up to Rs.25Lakhs)

11.00%

5 years/

60 Months

(Up to 85% of the Vehicle cost subject to Exposure Limit)

12.00%

5 years/

60 Months

(Up to Rs.20 Lakhs)

12.00%

5 years/

60 Months

(Up to 50 Lakhs)

14%

10 Years/

120 Months

(Up to Rs.50 Lakhs)

13%

10 Years/

120 Months

(Up to Rs.50 Lakhs)

12%

20 years/240 months

(Above Rs.25 Lakhs Up to Rs.70 Lakhs)

-

-

13.00%

5 years/60 Months

(Above Rs.50 lakhs )

15%

10 years/ 120 Months

(Above Rs.50 Lakhs upto  Rs.2 Crores)

13.50%

10 years/120 Months

(Above Rs.50 lakhs Up to Rs.1.50 Crore)

                     -

-

-

 

           -

For Purchase of Site 14%

10 years/120 Months

(Above Rs.50 Lakhs)

14%

10 years/120 Months

(Above Rs.1.50 Crore up to Rs. 8.50 Crores)

Exposure limits :

For Individuals Rs.3.25 Crores & For Groups

Rs.8.50 Crores

*1% Extra for Commercial Vehicles

Education Loans

60 to 84 Months

Gold Loans /

O.D Against Gold Loans

1 year/ 12 Months

Loan on

LIC/NSC/ KVP

1 year/12 months

Over Draft Loans

1 year/12 months

In India

12%

Up to Rs.10 Lakhs

Abroad

12%

Up to Rs.20 Lakhs

12%

Up to Rs.5 Lakhs

13%

Above 5 lakhs Up to Rs.10 Lakhs

11%

Maximum

Up to Rs.1 Crore

Secured

14.5%

Maximum

Up to Rs.1.50 Crores

Unsecured

16%

Maximum

Up to Rs.3 Lakhs

 

 

Loan On Term Deposits & Over Draft on Term Deposits

  • Maximum period 1 year/ 12 months for Over draft Facility against term deposit

  • Loan Limit Up to 90% on Term Deposits : The rate of interest chargeable on the Loans shall be 2% More than the rate of interest payable on the term deposits for General Public & 1% More in case of for Senior & Super Senior Citizen

Unsecured Loans @ 16%

Maximum Rs.3.00 Lakhs

Up to 5 Years/ 60 Months

Up to Rs.50,000/-

16%

 

The loan up to Rs.50,000/- may be sanctioned with credit worthy solvent single surety, for a period of maximum 36 months  as may be decided by the Board from time to time in respect of each particular loan considering the repaying capacity of the Borrower/ Surety. 

Above Rs.50,000/-

Up to Rs.1,00,000/-

 

16%

 

The loan up to Rs.1,00,000/- may be sanctioned with credit worthy solvent single surety, for a period of minimum 40 months  & maximum 60 months as may be decided by the Board from time to time in respect of each particular loan considering the repaying capacity of the Borrower/ Surety.

However, the following conditions are to be fulfilled:

Either the Borrower or the Surety shall be an Employee or shall be Income tax assesse having filed the IT returns for the last presiding three years or as may be stipulated by the Board from time to time. 

Above Rs.1,00,000/-

up to Rs.3,00,000/-

16%

The loan up to Rs.3,00,000/- may be sanctioned with credit worthy solvent single surety, for a period of minimum 40 months  & maximum 60 months as may be decided by the Board from time to time in respect of each particular loan considering the repaying capacity of the Borrower/ Surety.

However, the following conditions are to be fulfilled:

1. Either the Borrower or Surety shall hold either immovable property or shall be an employee of Government/Quasi Government, Public undertakings, Banks, Life Insurance Corporation, General Insurance Corporation, Local authorities or Boards or any other reputed public/private Ltd companies, firms etc. His or her salary certificate with particulars of deductions if any and the certificate/ document in respect of his employment shall be obtained, as may be identified by the board from time to time. or

2. In case of salaried employees the Bank shall obtain necessary consent letter from the employer for getting installments deducted by the employer and remitted to the Bank directly.

Over Draft 

Up to Rs.3,00,000/-

16%

The Over Draft facility on current account may be advanced to members of the Bank who are engaged in Trade/Industry or profession based on the security of personal securities.  The period of  O.D. facility shall not exceed one year or as may be fixed by the Board of Directors in each case depending upon the sureties furnished and credit worthiness of the Borrower.  The borrower who intends to avail of Overdraft facility shall transact the account continuously and the operations in the account should be reviewed once in a year.

However, the following conditions are to be fulfilled:

The borrower shall produce the copy of the ST/VAT/TIN/SSI/P.T  registration certificate etc., for Business proof.   Either the Borrower or the Surety shall be Income tax assesse having filed the IT returns or as may be decided by the Board from time to time. 

Note:

1)  1% Rebate for the prompt payment of all the 12 Installments over a year within the due date except for Gold/ Over Draft Loans/ Loan on FD/SRD/LIC/NSC/KVP.

2)  In case of commercial vehicles 1% rebate for the prompt payment of all installments within the due date.