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- Home
- Interest Rates
- Advances
Interest on Advances
| MCLR |
|---|
Rates for Different Maturities
| a. Overnight MCLR | 9.50 |
| b. One Month MCLR | 9.50 |
| c. Three Month MCLR | 9.50 |
| d. Six Month MCLR | 9.50 |
| e. One Year MCLR | 9.50 |
| f. Above One Year MCLR | 9.50 |
| Base Rate | 10.10% |
|---|
| External Benchmark Rate (EBR) | Repo Rate 5.15% at present |
|---|
Housing Loan
| Category | Loan Amount | Benchmark | Product Spread | Credit Risk Premium* | Remarks | Reset Clause |
|---|---|---|---|---|---|---|
| Housing Loans – Salaried Class (with LTV upto 75%) |
Upto Rs.25.00 Lac | EBR | 3.25 | 1.75 | Floating | Quarterly |
| Above Rs.25.00 Lac to Rs.75.00 Lac | EBR | 3.25 | 2.00 | Floating | Quarterly | |
| Above Rs.75.00 Lac | EBR | 3.25 | 2.25 | Floating | Quarterly | |
| Housing Loans – Non Salaried Class (with LTV upto 75%) |
Upto Rs.25.00 Lac | EBR | 3.25 | 1.85 | Floating | Quarterly |
| Above Rs.25.00 Lac to Rs.75.00 Lac | EBR | 3.25 | 2.10 | Floating | Quarterly | |
| Above Rs.75.00 Lac | EBR | 3.25 | 2.35 | Floating | Quarterly | |
| Housing Loans – Salaried Class (with LTV more than 75%) |
Upto Rs.25.00 Lac | EBR | 3.25 | 2.00 | Floating | Quarterly |
| Above Rs.25.00 Lac to Rs.75.00 Lac | EBR | 3.25 | 2.25 | Floating | Quarterly | |
| Above Rs.75.00 Lac | EBR | 3.25 | 2.50 | Floating | Quarterly | |
| Housing Loans – Non Salaried Class (with LTV more than 75%) |
Upto Rs.25.00 Lac | EBR | 3.25 | 2.10 | Floating | Quarterly |
| Above Rs.25.00 Lac to Rs.75.00 Lac | EBR | 3.25 | 2.35 | Floating | Quarterly | |
| Above Rs.75.00 Lac | EBR | 3.25 | 2.60 | Floating | Quarterly |
Effective Rate: EBR + Product Spread + Credit Risk Spread
*Credit Risk Premium may vary client to client.
Processing Fee: 0.50% of the loan amount.
Personal Loan & Consumer Loan
| Interest Rates | Processing Fee |
|---|---|
| Personal Loan : MCLR + 6.00% Consumer Loan : MCLR + 5.75% |
1.00% with minimum Rs.500/- |
Auto Loan / Transport Loan
| Interest Rates | Processing Fee |
|---|---|
| Two Wheeler : MCLR + 4.00% New Four Wheeler (Non-Commercial) : MCLR + 1.25% Transport Vehicle : MCLR + 3.00% |
1.00% with minimum Rs.500/- 0.50% of the Loan Amount 0.50% of the Loan Amount |
Pre-Payment Charges
Auto Loans
In case the account is adjusted before 1 year from the scheduled date of expiry or it is taken over by some other bank, premature charges will be levied @ 2%.
Minimum Rs.500/-
Housing Loans (on floating rate): NIL
Term Loans for Rs.1 Cr & above and Project Loans (irrespective of amount)
| If Adjusted / Taken Over Within | Charges |
|---|---|
| 1 Year of Account Opening | 5% |
| 2 Years of Account Opening | 4% |
| 3 Years of Account Opening | 3% |
| After 3 Years but before 1 Year of Scheduled Date of Expiry | 2% |
In case the account is adjusted before 1 year from the scheduled date of expiry, premature charges will be levied @ 1%. In case the account is taken over by some other bank, premature charges will be levied @ 2%.
Minimum Rs.500/- (Charges to be calculated on outstanding balance or Drawing Power, whichever is higher)
