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Interest Rates
| Rate of Interest on Loans and Advances | |||||
| Sr. No | Product | ROI |
Credit Rating (A, B, C) |
Repayment | Applicable Since |
| 1 | Cash Credit | 11.00 % to 13.00 % | Yes | Annual Review | Existing A/c During Renewal and New w.e.f. 01/04/2017 |
| 2 | Mortgage Loan & Secured Loan | 11.00 % to 13.00 % | Yes | Up to 7 Years |
Effective from 01/04/2017 |
| 14.00 % | No | 7 to 10 Years | |||
| Vehicle Loan (New) | |||||
| 3 | a) Personal Use | 10.00 % | No | Up to 84 months |
Effective from 01/04/2017 |
|
Vehicle Loan (2nd Hand) -Personal Use |
12.00 % | No | Up to 60 months |
Effective from 01/04/2017 |
|
| 4 | Vehicle Loan for Commercial Use (New Vehicle) | 11.00 % to 13.00 % | Yes | Up to 84 months |
Effective from 01/04/2017 |
|
Vehicle Loan for Commercial Use (2nd Hand) |
13.00 % to 15.00 % | Yes | Up to 36 months |
Effective from 01/04/2017 |
|
| 5 | Housing Loan | 10.00 % | No | Up to 240 months |
Effective from 01/04/2017 |
| 6 | Personal Loan | ||||
| a) General | 15.00 % to 17.00 % | Yes | Up to 60 months |
Effective from 01/04/2017 |
|
| b) Personal Loan as per scheme | 14.00 % | No | Up to 60 months |
Effective from 01/04/2017 |
|
| 7 | Loan Against Gold,NSC, Govt.Securi.S.V of LIP | 11.00 % | No | Up to 60 months |
Effective from 01/04/2017 |
| 8 | Loan /OD against Own Deposits | 1% over the ROI applicable to Deposits | No | As per Due Date |
Effective from 01/04/2017 |
| 9 | Loan/OD against 3rd Party Deposit | 2% over the ROI applicable to Deposits | No | As per due date |
Effective from 01/04/2017 |
| 10 | Education Loans -Unsecured Up to Rs.5.00 Lakh | 14.00% | Yes | Up to 5 years |
Effective from 01/04/2017 |
| Secured Against Property | 11.00% to 13.00% | Yes |
Up to 7 years (without gestation) |
||
| 14.00% | Yes |
Up to 7 years (with gestation) |
|||
| 11 | Lease Rent Discounting | 11.00 % to 13.00 % | Yes | Up to 7 years |
Effective from 01/04/2017 |
| 12 | Lease Rent Discounting | 11.00 % to 13.00 % | Yes | Up to 7 years |
Effective from 01/04/2017 |
| 13.00 % to 14.00 % | Yes | Above 7 Years to 10 Years |
Effective from 01/04/2017 |
||
| 13 | Loans to Professionals |
10.50%, 11.50% & 12.50% |
Yes | Up to 7 years |
Effective from 01/04/2017 |
| 14 |
House Furnishing (Linked to Housing Loans only up to Rs.5.00 lakh) |
12.00 % | No | 60 months maximum |
Effective from 01/04/2017 |
| 15 |
Composite Secured Loan Scheme Up to Rs.5.00 lakh (Securities in the form of tangible assets) |
-13% with 25% Collateral Security -14% without Collateral Security |
No | 60 months |
Effective from 01/04/2017 |
| RATE OF INTEREST ON TERM DEPOSITS w.e.f. 26th September 2017 | |||
| Period | Interest Rates (% P.A.) | ||
| General Public, Co-op. Hsg. Soc. | Senior Citizen (Inc. bulk dept.) | Bulk Deposit (15 Lakh & above) for all categories except Sr. Citizens | |
| 15 days to 90 days | 4.00 | 4.25 | 4.00 |
| 91 days to 180 days | 5.00 | 5.25 | 5.00 |
| 181 days to 12 Months | 6.00 | 6.25 | 6.00 |
| Above 12 Months to 24 Months | |||
| For FD-STD/QIP/MIP | 8.00 | 8.10 | 8.10 |
| For Reinvestment | 7.00 | 7.25 | 7.00 |
| For Recurring Deposit | 7.00 | 7.25 | N.A. |
| Above 24 Months to 60 Months (All Products) | 7.00 | 7.25 | 7.00 |
| Above 60 Months to 120 Months (All Products) | 6.50 | 6.75 | 6.50 |
Accordingly, interest rate as well as maturity amount of our Vaishya Bank Lakhpati Scheme will stand revised as under:
| No. of Months | Rate of Interest (%) | Monthly Installment (Rs.) | Maturity Amount(Rs.) |
| 12 | 6.00 | 8,069 | 1,00,017 |
| 24 | 7.00 | 3,875 | 1,00,052 |
| 36 | 7.00 | 2,494 | 1,00,102 |
| 48 | 7.00 | 1,805 | 1,00,148 |
| 60 | 7.00 | 1,393 | 1,00,202 |
| 72 | 6.50 | 1,135 | 1,00,047 |
| 84 | 6.50 | 940 | 1,00,060 |
| 96 | 6.50 | 794 | 1,00,016 |
| 120 | 6.50 | 592 | 1,00,041 |
Further, to this it has been decided that:
-
Reduction in the Rate of Interest by 0.50% p.a. on card rate to all Small Scale Industries (SSI units) in all categories of advances shall be granted w.e.f. 01/04/2017. The Certificate of SSI unit should be kept on record. In case, the certificate is expired, renewed copy of the same should be kept on record.
-
Existing practice of reduction in Rate of Interest by 0.25% p.a. on card rate to the following types of women borrowers shall be granted except Gold Loan, and Loan against Deposit. w.e.f. 01/04/2017.
- Woman as a single borrower.
- In case of joint borrowers, where woman is first borrower.
- In case of joint proprietors, where woman is proprietor and solely manages the business.
-
Penal interest @ 2% p.a. to be charged to Cash Credit & Overdraft Accounts for non-submission of Stock Statement.
- No Processing Fees for Housing Loan & Vehicle Loan (New) for Personal use and Loans to Professionals.
