OUR SERVICES
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. 22/04/2024 |
| 2 | Mortgage Loan & Secured Loan | 12.00 % to 14.00 % | Yes | Up to 10 Years |
Effective from 25/04/2024 |
| Vehicle Loan (New) | |||||
| 3 | a) Personal Use (Four Wheeler) | 10.00 % | No | Up to 84 months |
Effective from 22/04/2024 |
| a) Personal Use (Two Wheeler) | 12.50 % | No | Up to 60 months |
Effective from 22/04/2024 |
|
|
Vehicle Loan (2nd Hand) -Personal Use (Four wheeler) |
11.95 % | No | Up to 60 months |
Effective from 22/04/2024 |
|
|
Vehicle Loan (2nd Hand) -Personal Use (Two Wheeler) |
14.00 % | No | Up to 60 months |
Effective from 22/04/2022 |
|
| 4 | Vehicle Loan for Commercial Use (New Vehicle) | 11.00 % to 13.00 % | Yes | Up to 84 months |
Effective from 22/04/2024 |
|
Vehicle Loan for Commercial Use (2nd Hand) |
13.00 % to 15.00 % | Yes | Up to 48 months |
Effective from 22/04/2024 |
|
| 5 | Housing Loan | 10.00 % | No | Up to 240 months |
Effective from 22/04/2024 |
| 6 | Personal Loan | ||||
| 1) Personal Loan (Up to Rs.3.00 Lakh) | 15.75 % | No | Up to 36 months |
Effective from 22/04/2024 |
|
| 2) Up to Rs.3.00 Lakh (Women) | 15.50 % | No | Up to 36 months |
Effective from 22/04/2024 |
|
| 1) Personal Loan Up to Rs. 5.00 Lakh | 17.75 % | No | Up to 60 months |
Effective from 22/04/2024 |
|
| 2) Personal Loan Up to Rs. 5.00 Lakh (Women) | 17.50 % | No | Up to 60 months |
Effective from 22/04/2024 |
|
| 7 | Micro Finance Loan | ||||
|
Micro Finance Loan 1) Up to Rs.3.00 Lakh |
15.75 % | No | Up to 36 months |
Effective from 22/04/2024 |
|
|
Micro Finance Loan 2) Up to Rs.3.00 Lakh (Women) |
15.50 % | No | Up to 36 months |
Effective from 22/04/2024 |
|
|
Micro Finance Loan 1) Up to Rs.3.00 Lakh |
17.75 % | No | Up to 60 months |
Effective from 22/04/2024 |
|
|
Micro Finance Loan 2) Up to Rs.3.00 Lakh (Women) |
17.50 % | No | Up to 60 months |
Effective from 22/04/2024 |
|
| 8 | Loan Against Gold,NSC, Govt.Securi.S.V of LIP | 10.00 % | No | Up to 60 months |
Effective from 22/04/2024 |
| 9 | Loan /OD against Own Deposits | 1% over the ROI applicable to Deposits | No | As per Due Date |
Effective from 22/04/2024 |
| 10 | Loan/OD against 3rd Party Deposit | 2% over the ROI applicable to Deposits | No | As per due date |
Effective from 22/04/2024 |
| 11 | Education Loans -Unsecured Up to Rs.5.00 Lakh | 11.50% | Yes | Up to 5 years |
Effective from 22/04/2024 |
| Full Secured Against Property | 11.00 % | Yes |
Up to 10 years (without gestation) |
||
| 12.00% | Yes |
Up to 10 years (with gestation) |
|||
| 11 | Lease Rent Discounting | 11.00 % to 13.00 % | Yes | Annual Review |
Effective from 22/04/2024 |
| 12 | Overdraft Against Property | 11.00 % to 13.00 % | Yes | Annual Review |
Effective from 22/04/2024 |
| 13 | Lease Rent Discounting | 11.00 % to 13.00 % | Yes | Up to 10 years |
Effective from 22/04/2024 |
| 14 | Loans to Professionals |
10.50%, 11.00% & 11.50% |
Yes | Up to 10 years |
Effective from 22/04/2024 |
| 15 |
House Furnishing (Linked to Housing Loans only up to Rs.5.00 lakh) |
11.50 % | No | 60 months maximum |
Effective from 22/04/2024 |
| 16 | Clean Overdraft against VDDS | 14% | No | 12 months |
Effective from 22/04/2024 |
| 17 | Secured loan for Retail Trader | 14% | No | Up to 84 months |
Effective from 22/04/2024 |
Further to this it has been decided that
- No Surety for New Car Loan & Housing Loan.
- Two Sureties for Personal /Unsecured Loan.
Collateral Security – Simple deposit of title deed / LIC policy should be insisted. - 3. Processing Charges for Housing Loan @ 0.50% & all other categories of Loan @ 1% except Loan against deposit, Loan against Gold, NSC and LIC.
- No Margin on Housing loan and New Car Loan.
- Car Loan (Cost of Vehicle + Registration) should be taken.
- TOD /Adhoc Limit to be charged additional 2% over and above the sanction interest rate to the Cash Credit / Overdraft Accounts / ODAP.
- TOD in Current account to be charged 21%.
- Penal interest @2% p.a. to be charged to Cash Credit & Overdraft Accounts for non-submission of Stock Statement / Non-renewal of account.
- In case of extension in renewal date, 2% additional interest to be charged till limit get regularly renewed.
- Loan pre closer charges / Takeover charges up to 3 years is 1% on outstanding amount of Loan and after 3 years no pre closer charges / Takeover charges to be taken for all loans. No Pre closer charges for Housing Loan.
- In case of overdraft against property and cash credit limit take over charges of 1% on sanction limit to be taken.
| REVISED RATE OF INTEREST ON TERM DEPOSITS w.e.f. 29/10/2024 | |||
| Period | Interest Rates (% P.A.) | ||
| General Public, Co-op. Hsg. Soc. | Senior Citizen | ||
| SHORT TERM DEPOSIT (STD) | |||
| 15 days to 90 days | 4.75 | 4.85 | |
| 91 days to 180 days | 5.50 | 5.60 | |
| 181 days to 364 days | 6.50 | 6.60 | |
| FIX DEPOSIT - MIP / QIP | |||
| For 12 Month | 7.60 | 8.10 | |
| For 12 Month - Reinvestment | 7.25 | 7.35 | |
| For 12 Month - Recurring Deposit | 7.50 | 7.60 | |
| Above 12 Months to 24 Months | |||
| FIX DEPOSIT-MIP/QIP | 7.50 | 7.60 | |
| Reinvestment | 7.25 | 7.35 | |
| Recurring Deposit | 7.50 | 7.60 | |
| Above 24 Months to 60 Months (All Products - Excluding STD) | 7.00 | 7.10 | |
| Above 60 Months to 120 Months (All Products - Excluding STD) | 6.75 | 6.85 | |
Bulk Fix Deposit (Only for MIP & QIP)
| Period | Amount | Interest Rates (% p.a) |
| As per slab as above | Rs. 15.00 Lakh to Rs. 99.99 Lakh (Single Receipt) | 0.15 % Extra on Applicable Rate |
| Only for 12 Months For general public/co-op society | Rs. 100.00 Lakh & above (Single Receipt) | 1.40 % Extra on Applicable Rate |