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Loans & Advances

Loans & Advances


 

       Interest Rates effective from 01.04.2016

Type of Loan

Maximum permissible

Period

Interest Rate

Housing Loan

80% of the cost with maximum Rs 70.0 lacs

15 years

9.50%

20 years

9.50%

Car Loan

90% of the cost with maximum Rs 2.0 crores

Up to 5 years

9.50%

Above 5 years

10.00%

Property Mortgage – Term Loan

50% of market value of immoveable property upto Rs.50.00 lakhs

7 years

11.00%

Property Mortgage – Overdraft

1 year

12.00%

For Factory, shed, godown showroom

80% of purchase value with maximum limit of Rs 2.50 crores

10 years

11.00%

Machinery Loan

85% of invoice value with maximum limit of Rs 2.50 crores

7 years

10.50%

Equipment Loan

7 years

10.50%

Cash Credit

Upto Rs 5.75 Crores

1 year

11.00%

Book Debt

Upto Rs 60.0 lacs

1 year

11.00%

NSC / KVP – Term Loan

70% of face value if NSC purchase date is upto 2 years and 80% if NSC purchase date is more than 2 years.


90% of surrender value in case of LIC policy

 

Till date of maturity

8.00%

NSC / KVP – Overdraft

9.00%

Loan / Overdraft against bank’s own term deposit

95% of term deposit amount

Till date of maturity

1% over interest rate of  term deposit

0.75% over interest rate of term deposit in case of bulk deposit of Rs 50.00 lacs or above

- Finance is available at 9.50% for non-conventional energy sources finance.

- If installments are paid regularly, additional rebate of 0.50% in Housing Loan and Car Loan Finance.

 

Note: Rates of interest are subject to change without any prior intimation