Loans Interest Rates

Sr. No.	Type of loan	Extent of loan	Repayment period	Existing Rate of interest	Revised Rate of interest
1.	Cash Credit /	75% of the stock value 50% of the book debt	Continuing facility subject to yearly renewal	13% p.a.	12% p.a.
2.	Housing Loan	85% of the value as per agreement or valuation report	5-20 yrs	9.75% p.a. for 5 yrs 10.25% p.a. for 10 yrs 10.75% p.a. for 15 to 20 yrs	9.00% p.a. for 5 yrs 9.50% p.a. for 10 yrs 10.00% p.a. for 15 to 20 yrs
3.	Premises Loan	50% of the value as per agreement or valuation report	3-7 yrs.	13% p.a.	12% p.a.
4.	Business loan	75% of Security value	3-5 yrs	13% p.a.	12% p.a.
5.	Vehicle loan	75% of invoice value	3-5 yrs	12% p.a.	12% p.a.
6.	Educational Loan	75% of the education cost	10 yrs	12.50% p.a.	11.50% p.a.
7.	a)Personal Loan	- Upto Rs. 0.20 lacs with 2 guarantors - Upto Rs. 0.50 lacs with 2 guarantors - Upto Rs. 1.00 lac with 2 guarantors without Tangible security.	1 yr 3 yrs 3 yrs.	12% p.a. 16.50% p.a. 18% p.a.	12% p.a. 16.50% p.a. 18% p.a.
8.	Loan/OD against Bank's F.D./RD/ Deposit	a)90% of deposit value. b) outstanding amount above value of security	On or before maturity date of the deposit --do—	1.50% above F.D. Deposit rate. Additional 2% on overdrawn amount 18% p.a.	1.50% above F.D. Deposit rate. Additional 2% on overdrawn amount 18% p.a.
9.	Loan against i)NSC ii) S.V.of LIC policies	i) 75% of Face Value ii)90% of S.V.	i)On or before maturity date. ii)3 yrs	13% p.a. 13%	12% p.a. 12%
10.	Loan against Daily Deposit	75% of the balance	One yr or till maturity.	12% p.a.	11% p.a.

Additional interest at 2% p.a. on overdue amount will be charged. Additional interest 2% p.a. will be charged for non-submission of stock/book debt statement in time.
To obtain post dated cheques from the Borrowers for all the EMIs stipulated.
Where the borrower is employed, obtain an authorization under Section 49 for deduction of the amount of EMI from salary.
Cash Credit facilities may be renewed at the discretion of the Bank , if the borrower submits an application for the same.
In case of educational loans, repayment will start after six months from the completion of the course or gainful employment whichever is earlier. In the meantime monthly interest is to be serviced.
However if the student discontinues the studies in between, the loan with upto date interest becomes repayable immediately at commercial rate of interest. Suitable repayment holiday /moratorium may be recommended, wherever needed.

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