Advances Interest Rate

DETAILS OF INTEREST RATES OF ALL ADVANCES FACILITIES
Sr No. Type of facility Updated on 21.12.2019
       
1 Hypothecation of Stock, Book debt, Machinery Loan, Bill Purchase, Secured Loan ( SSI ) Facility. Individual borrower having credit exposure of Rs. 1 Crore and below Individual borrower having credit exposure of above Rs. 1 Crore ( With Credit Rating )
*10.00% - 10.25% Range 9.50% - 11.50%
   
* 1) Applicant/ its associate concern must be engaged into this business for more than 3 years. 2) Min. 30% net owned funds contribution (Quasi capital) 3) Min. 100% collateral security coverage and 4) It must be profit making unit.
2 Secured OD ( Excluding construction activity) and Secured Loan (Non MSME) Individual borrower having credit exposure of Rs. 1 Crore and below Individual borrower having credit exposure of above Rs. 1 Crore ( With Credit Rating )
*10.85% - 11.10% Range 9.85% - 11.85%
  Those borrowers who are not willing for creation of charge on current asset will be charged additional 0.50% Those borrowers who are not willing for creation of charge on current asset will be charged additional 0.25%
2.1 Secured OD ( Excluding construction activity) and Secured Loan (For MSME UNITS) Individual borrower having credit exposure of Rs. 1 Crore and below Individual borrower having credit exposure of above Rs. 1 Crore ( With Credit Rating )
*10.35% - 10.60% Range 9.85% - 11.85%
  Those borrowers who are not willing for creation of charge on current asset will be charged additional 0.50%  
Those borrowers who are not willing for creation of charge on current asset will be charged additional 0.25%
2.2 Secured OD ( Excluding construction activity) and Secured Loan (Non MSME) for other than Business Purpose Individual borrower having credit exposure of Rs. 1 Crore and below Individual borrower having credit exposure of above Rs. 1 Crore ( With Credit Rating )
*11.25% - 11.50% *10.25% - 12.25%
  Those borrowers who are not willing for creation of charge on current asset will be charged additional 0.50%  
 
 
 
Those borrowers who are not willing for creation of charge on current asset will be charged additional 0.25%
3 Rice Mill ( Manufacturing Units ) 8.75% - 9.75% Based on Credit rating scheme
Ginning Mill, oil mill and Agro based product units ( Manufacturing Units ) 9.25% - 10.25% Based on Credit rating scheme
4 Textile Industry Cluster scheme 100% or more colllateral security coverage Less than 100% colllateral security coverage
AAA- 9.50% AAA- 9.75%
AA- 9.75% AA- 10.00%
A- 10.00% A- 10.25%
B- 10.50% B- 10.75%
C- Not eligible - 11.00% C- Not eligible - 11.25%
5 Printing Press cluster scheme 9.75% - 10.00%
9.75% - When
(i) 100% or more collateral security coverage
(ii) Satisfactory track record with us or other FIs.
(iii) Profit making unit for last 3 years. (Cash profit)
(iv) Promoters’ contribution is 30% or above
10.00% - When collateral security coverage is 75% or more but less than 100% and all other 3 conditions are fulfilled.
When collateral security coverage is less than 75%, our regular interest rates as applicable to SSI units will be applicable.
6 Vepar Mitra Yojana (Small Business CC) 10.25%
7 Doctor Mitra Yojana #9.25% - 9.75%
    # 1. Immovable property to the extent of total advances sanctioned is mortgaged in favour of bank.
2. Promoters contribution is more than 25%.
3. Application belonging to doctors having good practice and track record will be eligible to get such benefit. Average DSCR should not be less than 1.50.
4. Doctor must obtain various services like savings account of staff of hospital, demat account, lockers, car loan, housing loan, current account of Hospital etc. from our bank only.
5. In case of take over of such account, bank will charge pre payment penalty of 2%.
8 Construction Advances Secured Loan and Secured CC - 12.50% if applicant has provided the Collateral Security
Otherwise, ROI of 13.00% p.a shall be applicable
9 Loan against property ( Individual ) Term Loan ( EMI/ Non EMI) Drop down CC
700 & above 10.25% 10.75%
650-699 & (0 or -1 Score ) 10.75% 11.25%
Less than 650 11.25% 11.75%
  Loan against property ( Non Individual ) Term Loan ( EMI/ Non EMI) Drop down CC
  Margin is 50% or more * FOIR is 65% or less -10.00% * FOIR is more than 65%-10.50% * FOIR is 65% or less -10.50% * FOIR is more than 65%-11.00%
  Margin is Less than 50% * FOIR is 65% or less -10.25% * FOIR is more than 65%-10.75% * FOIR is 65% or less -10.75% * FOIR is more than 65%-11.25%
10 Lease rent Discounting ##09.75% - 10.25%
    ## 1. Lessee is reputed corporate/ institution/ Govt/ Semi Govt / PSUs/ MNC/Established commercial organization/ Multinational companies/first class top Indian companies etc.
2. Min. lease agreement to be for 7 years.
3. Min. lock in period should be 3 years.
4. Borrower should be sound entity with established other sources of revenue.
5. Ancillary benefits like SB a/cs, current a/cs, retail loan requirement of group & family to be maintained with us.
(*Educational institutions/ trusts etc. will not be eligible for above mentioned ROI .)
11 Export Finance Preshipment finance - 9.50% - 10.00% ( For borrowers enjoying regular EPC cum FBP/ FBD facilities )
  9.50% - When benefit of interest equalisation is not available to exporter and 10.00% - When benefit of interest equalisation is available to exporter.
  Post shipment finance - 9.50% - 10.00%
  In case of liquidation of EPC - 9.50% - When benefit of interest equalisation is not available to exporter and
10.00% - When benefit of interest equalisation is available to exporter.
  However for both EPC/FBP backed by FLC of prime banks interest rate of 9.50% can be considered by GM & CEO/ DGM (Cr.) even though interest equalisation benefit is available.
Foreign Bill Discouting

For DA basis Export Bills drawn under:
(1) Prime Bank L/C - 9.50%
(2) Non Prime Banl L/C- 10.00%

  For Sight Basis Export bills drawn under
(1) Prime Bank L/C - 9.75%
(2) Non Prime Banl L/C- (Approved by our bank)- 10.25%
(3) Non Prime bank L/c- (Other than approved list) - 10.75%
    For customers with stray post finance availment from us - 11.00% GM & CEO is delegated powers for deciding ROI in range of 9.50% to 10.50% for foreign L/c Bills Discounting based on country bank,Usance,Customer standingetc..
12 Domestic L/c Bill Discounting GM & CEO has been delegated powers to decide ROI for Domestic L/c Bill discounting on case to case basis based on merits. The said rates are ratified by DC. This practice will continue.
13 Commercial vehicle loan 10.50%
14 Cash Credit ( Pledge ) 10.00% Priority Sector Advances - 11.00% Others
15 Cluster based scheme - APMC market 10.50%
16 Scheme for financing Solar Photo voltaic    
Machinery / Equipment Loan 11.00%
Home improvement loan for purchase of Solar Photovoltaic 9.50%
17 Housing Loan Home Loan upto Rs 28.00 Lakhs (Irrespective of cost of dwelling unit) Home Loan more than Rs 28.00 Lakhs (Irrespective of cost of dwelling unit)
CIR 700 & above 8.50% 8.70%
650-700 & (0 or -1 Score ) 8.70% 8.90%
Less than 650 8.90% 9.10%
Women applicant will be eligible for further concession of 0.10% in all categories
18 Housing Loan Top Up scheme    
Term Loan ROI applied to Existing Housing Loan a/c + 1.50%
OD ROI applied to Existing Housing Loan a/c + 2.00%
19 Education Loan 9.00% - 9.15%
20 Car loan Regular customer Loyalty customer
CIR 700 & above 8.95% 8.70%
650-700 & (0 or -1 Score ) 9.05% 8.80%
Less than 650 9.20% 8.95%
* Loyalty customer will continue to get concession of 0.25% in above mentioned revised rates.
21 Two wheeler loan    
CIR 700 & above 12.00%
650-700 & (0 or -1 Score ) 12.10%
Less than 650 12.25%
22 Share Pledge 10.50%
23 CC against Government security 10.00%
24 Micro finance 10.25%
25 Unsecured loan 13.00%
26 Unsecured CC 13.50%
27 House hold loan 15.00%
28 Loan against computer 14.50%
29 FDOD Minimum FDOD Sanction Limit : INR 250.00 lacs & above
1) FDOD limit of INR 250.00 lacs and above but below INR 500.00 lacs : ROI @ FDR Rate + 0.75 P.A
2) FDOD limit of INR 500.00 lacs and above : ROI @ FDR Rate + 0.50% P.A
30 Special KAL Two Wheeler Loan for Existing customers/borrowers, their close relative/employees as well as salaried employees of various org.

09.50% to 11.00%

CIR 700 & above: 10.00% p.a.

CIR 650 - 699 or (-1/ 0 Score ) – 10.50% p.a.

CIR 600 - 650: 11.00% p.a.
Applicant having CIR of less than 600 Score will not be eligible for such Two Wheeler Loan.

50 basis concession is to be allowed when our borrower enjoying satisfactory conducted loan account / credit facility agrees to create negative lien on security already hypothecated / mortgaged in favour of Bank.

31 Cluster Scheme for Cotton Ginning & Pressing industry

09.50% to 11.50%

Credit Rating AAA - 9.50%

Credit Rating AA - 10.00%

Credit Rating A - 10.50%

Credit Rating B - 11.00%

Credit Rating C unrated - 11.50%

32 PERSONAL LOAN Purpose : Personal need other than for purpose of speculation, gambling and such undesired activities not encouraged the Bank

Eligibility : Salaried Person / Professionals / Self-Employed / Businessmen with minimum 3 years of service / experience and having salary income ot ITR for last 2 years
Entry Age : 21 years, Exit Age : 65 years for professional / businessmen / self-employed
For salaried class at least 3 years before retirement (for term loan of 3 years)

Nature of Facility : Term Loan (EMI only)

Quantum of loan : Min Rs. 25,000/-, Max Rs. 5,00,000/-

Processing Fees : 1,000/- irrespective of loan amount

Prepayment Charges : Nil

Rate of Interest : 1) Existing Customers :
CIR 700 & Above : 11.00 p.a
CIR 650 & 699 & CIR 1 & 0 : 12.00 p.a

2) Other Customers & New Customers
CIR 750 & above : 11.00 p.a
CIR -1 & 0 : 12.00 p.a
No Deviation for CIBIL score (both for existing & new customers) to be allowed
33 Advances to Weaker Sector Max Amount : 50,000.00
ROI : 16.00 P.A, However interest rebate @ 4.00% P.A will be allowed ab initio at the the time of closure of advance of such borrowers who are regular in repayment during entire tenure of the advance, making effective Rate of Interest @ 12.00% P.A
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