Changes in the Interest Rate of Advances w.e.f.01.07.2024 | ||||
Sr.No. |
Type of Loans |
Interest Rate |
||
1 | Against Govt. Securities/NSC/KVP/LIP/Relief Bond | 8.75% | ||
2 | Education Loan | |||
i) | Education Loan (up to Rs. 20/- Lakh) 100% or more collateral | 8.75% | ||
ii) | Education Loan (Above Rs.20/- Lakh up to Rs.100/- Lakh) 100% or more collateral | 8.75% | ||
iii) | Collateral less than 100% (Maximum unsecured portion should not exceed Rs.5/- Lakh) | 10.00% | ||
3 | Gold Loan (Maximum One Year) | 13.25% | ||
4 | Auto Loan | |||
a) | Car Loan up to 25.00 Lakh |
8.25% |
||
Car Loan from 25.00 Lakh to 50.00 Lakh | 8.10% * | |||
Car Loan above 50 Lakh | 7.90% * | |||
For Electric Car | 8.00% | |||
Car Loan For Physically Handicaped person# | 8.00% | |||
b) | Two Wheelers/CNG Rikshaw/Other Commercial Vehicles** | 10.25% | ||
c) | Commercial Vehicles (Existing Borrowers)**(where existing mortgage is there) | 8.75% | ||
c) | Used Cars (Not more than 2 years old) | 13.75% | ||
5 | Consumer Durables (Household Goods) | 12.75% | ||
6 | Doctors Loan | |||
i) | (with 100% or more Collateral Security) | 8.85% | ||
ii) | (without Collateral Security or less than 100% Collateral Security) | 9.10% | ||
7 | Self Employed/Service Enterprises/Professionals | 9.85% | ||
8 | a) |
Housing Loan (upto Rs.75/- Lakhs) (Floating Rate) Interest rate for all kinds of borrowers (woman/man) |
8.50% | |
b) |
Housing Loan (more than Rs.75/- Lakhs) (Floating Rate) Interest rate for all kinds of borrowers (woman/man) |
8.50% | ||
c) | Housing Loan (Fixed rate) | 9.50% | ||
9 | Top-up Loan on Housing Loan | 9.75% | ||
10 | Housing Rennovation Loan | |||
a) | For Civil Work (Same as applicable to Housing Loan) | 8.50% | ||
b) | For Furniture and Fixtures covered by REM (same as applicable to Housing Top- up Loan) | 9.75% | ||
11 | Loan for Solar Roof Top-(Industrial Household Purpose) | 9.00% | ||
12 | Demat Shares (up to Rs.10/- Lakhs) | 9.75% | ||
13 | (a) | Loans/Overdrafts to Builders/Contractors against Real Estate (Old Scheme) | 12.75% | |
(b) | Loans/Overdrafts to Builders/Contractors Under CRE (New Scheme Project Loan) | |||
(i) | Without Collateral Security and only prime security of land | 13.00% | ||
(ii) | With Collateral Security 25% upto 50% of loan value and only prime security of land | 12.50% | ||
(iii) | With Collateral Security 50% upto 100% of loan value and only prime security of land | 12.25% | ||
(iv) | With Collateral Security 100% of loan value and only prime security of landd | 12.00% |
Note :
* conditions Apply
** Borrowers for commercial purposes who have secured loans from existing borrowers of the bank and have provided collateral security. Interest rate of 8.75% will be applicable on purchase of vehicles like Staff bus, Truck, Tractor, Tempo, JCB.
14 | Trade Industry for Working Capital : New rate w.e.f 01.06.2023 | |||
Working Capital Advances | Coll. Sec. Less Than 100% | Coll. Sec.100% or more | ||
1 | Working Capital Limit up to Rs.97/- Lakh | 9.35% | 8.85% | |
2 | Card Rate (For all unrated accounts having limits Rs.97/- Lakh and more) | 9.75% | 9.25% | |
3 | If Working Capital Limit (Comp. C.C. + Secured C.C.) is for Rs.100/- Lakh and more (with Credit Rating) | |||
(a) | For Credit Rating “A” (more than 70 marks) # | 8.75 | ||
(b) | For Credit Rating “B” (for marks above 50 and up to 70) # | 9.25% | ||
(c) | For Credit Rating “C” (for marks 50 or less) # | 9.75% | ||
15 | Secured C.C./OD against immovable property (For unrated accounts) | Limit upto Rs.97/- lakh |
Limit > Rs.97.00 lakh |
|
(i) | If margin is ≥ 40% | 9.00% | 9.25% | |
(ii) | If margin is ≥ 30% and < 40> | 9.25% | 9.50% | |
(iii) | If margin is < 30> | 9.50% | 9.75% | |
16 | Bills Discounting under L.C. of prime bank | 8.00% | ||
17 | Clean Cash Credit/Overdraft (up to Rs.5/- Lakhs) | 13.25% | ||
18 | Hypothecation of Plant and Machinery (Term Loan) | |||
(i) | More than 100% collateral (For new Sanction only) | 8.75% | ||
(ii) | More than 75% and upto 100% collateral | 9.25% | ||
(iii) | 75% or less collateral | 9.75% | ||
19 | (i) | Mortgage Loan with ≥ 40% Margin | 9.25% | |
(ii) | Mortgage Loan with ≥ 30% and < 40> Margin | 9.50% | ||
(iii) | Mortgage Loan with < 30> Margin | 9.75% | ||
20 | Term Loan for purchase of Office Factory-Land and Shed/ Godown/ Commercial Property-Secured by Coll. Sec. | 9.25% | ||
21 | Term Loan (Other Fixtures) | 10.00% | ||
22 | Temporary Loan / Ad hoc limit | |||
(If Collateral Security is less than 80%) | 13.25% | |||
(If Collateral Security is 80% and above) | 12.25% | |||
23 | Excess over sanctioned limit | 13.75% | ||
24 | AMCO Jan Kalyan Term Loan / Limit | 13.50% | ||
25 | Loan/OD against Deposit | |||
(a) | Loan/OD/against own deposit | Deposit Rate +1.00% Deposit Rate +2.00% |
||
(b) | Loan/OD/against third party deposit | |||
26 | Atmanirbhar Laghu Udhyog Protsahan Scheme (for working capital and machinery term loan) | 10.75% | ||
27 | Term Loan for purchase of Shop cum Ware house for Agriculture Allied Activities | 8.25% | ||
28 | Lease/Rental Discount (As per LRD policy) | |||
(i) | If Market value of Collateral Security is 150% | 10.50% | ||
(ii) | If Market value of Collateral Security is 200% | 10.25% | ||
(iii) | If Market value of Collateral Security is 250% | 10.00% | ||
(iv) | If Market value of Collateral Security is 300% | 9.75% | ||
29 | AMCO-Khushi Personal Loan | 11.00% |
# Working capital utilization rebate is withdrawn