Sreenidhi Souharda Sahakari Bank Niyamitha

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At Srinidhi Bank, we are committed to helping you meet all your banking needs to the best of our ability. You can access internet banking portal of our website at any hour of the day. There are no fixed timings to use the facilities. Moreover, enjoy the luxury of getting all the work accomplished at the comfort of your home or office, at any hour that is preferable for you

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#113,Administrative Office, R.V.Road,V.V.Puram, Bangalore - 560 004,INDIA.

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+91-080-2660 1152+91-080-2660 1153

sssbn@sreenidhibank.com

Weekdays 10 AM to 6 PM

Sunday : Closed

Events & News
01
Appointment of Concurrent Audit for the FY 2024-25 in our bank
02
Statutory Auditor Policy
03
Info on Secured assets possessed under the SARFESI Act,2002

Interest Rate Chart


SREENIDHI SOUHARDA SAHAKARI BANK NIYAMITHA
No.113, R.V. Road, V.V. Puram, Bangalore – 560004
RATE OF INTEREST ON LOANS & ADVANCES
(W.E.F 26th December, 2022)
Loan Scheme Maximum Tenure Loan Limit Rate of Interest
Housing Loans 20 Years/ 240 months Upto Rs. 25 Lakhs
Above Rs. 25 lakhs Upto Rs.140 Lakhs		 9.00%
10.00%
Education Loans 60 to 84 months Upto Rs. 20 Lakhs
Above Rs. 20 Lakhs Upto 1 Crore		 9.00%
9.50%
New Vehicle Loans : White / Green Board 5 years/ 60months Up to 85% of the ONROAD price of the vehicle 9.50%
Yellow/Green Board (Commercial Vehicle) 5 years/ 60months Up to 85% of the Basic Price of the Vehicle 10.50%
Second Hand Vehicle Loans 5years/60 months Maximum quantum of loan shall be Rs.20 Lakhs. Up to 80% of the Valuation for White/Green Board Vehicles & Up to 65% of the valuation for Yellow/Green Board Vehicles 11.00%
Agriculture Loans 10years/120 months Upto Rs.25 Lakhs
Above Rs.25 Lakhs upto Rs.7 Crores*		 10.50%
11.00%
Mortgage Loans For Other purposes 12 ½ Years/150 months Upto Rs. 25 Lakhs
Above Rs.25 Lakhs upto Rs.2 Crores		 12.75%
13.50%
Mortgage Loans For Purchase of Site 12 ½ Years/150 months Upto Rs. 25 Lakhs
Above Rs.25 Lakhs upto Rs.50 Lakhs		 12.75%
13.50%
Long Term Business Loans 12 ½ Years/ 150 months Upto Rs.25 Lakhs
Above Rs.25 Lakhs upto Rs.2 Crore
Above Rs.2 Crore upto Rs.7 Crore*		 11.00%
12.00%
13.00%
Gold Loans/O.D Against Gold 1Year/12 months Upto Rs.2 Lakhs
Above Rs.2 Lakhs upto Rs.10 Lakhs		 9.00%
10.00%
Gold Loans for Agriculturists 1Year/12 months Upto Rs.2 Lakhs
Above Rs.2 Lakhs upto Rs.10 Lakhs		 8.00%
9.00%
Loan on LIC/ NSC/ KVP 1Year/12 months Upto Rs.1 Crore 10.00%
Overdraft Loans 1Year/ 12 months Upto Rs.25 Lakhs
Above Rs.25 Lakhs upto Rs.2 Crores		 12.50%
13.00%
Unsecured Overdraft Facility 1Year/ 12 months Maximum upto Rs.3 Lakhs 15.00%
Unsecured Term Loans 5 years/60 months Maximum upto Rs.3 Lakhs 14.00%
*Exposure Limit for Individual Borrowers Rs.475 Lakhs & for Group Borrowers Rs.700 Lakhs


Residuary period of Deposit Margin Amount of Loan
Less than One year 10% 90% of the value of Deposit
One year to Less than Two years 15% 85% of the value of Deposit
Above Two years 25% 75% of the value of Deposit


Loan Type Details
Unsecured Loans
Up to Rs.50,000/-		 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.
Unsecured Loans
Above Rs.50,000/-
Up to
Rs.1,00,000/-		 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.
Unsecured Loans
Above
Rs.1,00,000/- up to
Rs.3,00,000/-		 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.
Unsecured Over Draft
Up to
Rs.3,00,000/-		 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.
Loan On Term Deposits & Over Draft on Term Deposits
Margin to be maintained based on residuary period of deposit (available period from the date of loan to the date of maturity of deposit)
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 Citizen & Staff of SSSBN.
Maximum period 1 year/ 12 months for Over draft Facility against term deposits. All other terms and conditions remains unchanged
Note:
1.Pre closure of Loan Accounts within Twelve months from the date of opening the loan account attracts the Penalty of first twelve month’s interest as per repayment schedule. But, pre closure penalty shall not be applicable for Gold Loans/OD on Gold Loans, Loan & OD on Term Deposits & Loan on LIC/ NSC/ KVP.
2.No rebate for the prompt payment of all the Installments for loans sanctioned w.e.f 01/05/2020. The existing rebate remains unchanged for existing borrowers (Sanctioned up to 30/04/2020).

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