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INTEREST RATE ::

 
Revision in Rate of Interest on Loans and Advances w.e.f. 1st August 2018
 
No. TYPES OF ADVANCES Revised ROI (% P.A.)
1 PERSONAL LOANS (Consumer/Surety Loans)
a. up to Rs. 2.00 Lakhs 14.50
b. Above Rs.2.00 lakhs up to Rs.5.00 Lakhs 15.50
c. Personal loan repayment through ECS or Salary deduction (Under Sec.49 of M.C.S. Act) 12.50
(In case of Salary Deduction letter giving confirmation of salary deduction to be obtained from company)
d. Consumer Durables 13.50
2 GOLD LOANS (Including Bullet payment) / OVERDRAFTS 10.00
3a LOAN/OD AGAINST TERM DEPOSIT RECEIPTS (Our Bank's Fixed Deposit)

Individual 0.50% more
Trust/Company/Firm/Society 0.50% more

3b LOAN/OD AGAINST THIRD PARTY TERM DEPOSIT RECEIPTS (Our Bank's Fixed Deposit only) Advances against third party FDR: 1.00% over deposit rate
4 LOAN/OD AGAINST GOVT. SECURITIES 12.50
5 BUSINESS LOAN & ADVANCES  
a
(INDUSTRIAL LOAN) for Industries & Manufacturing Unit
Up to Rs. 10.00 lakh
Above Rs. 10.00 lakh & Up to Rs. 100.00 lakh
Above Rs. 100.00 lakh
Term Loan CC/OD
   
12.00 12.50
12.25 12.50
12.00 12.00
5b
BUSINESS LOAN & ADVANCES
for Trading & Service Industry
Up to Rs. 10.00 lakh
Above Rs. 10.00 lakh
Term Loan CC/OD
   
12.00 12.25
12.50 12.50
6 MORTGAGE LOAN (IPL Scheme) Repayment period Upto 5 Years - 11.50
Repayment period Above 5 years to 7 Years - 12.00
Repayment Period Above 7 years to 10 years - 13.00
7 HOUSING LOAN - (HOME SWEET HOME)

Up to Rs. 25.00 lakh - 9.00
Above Rs. 25.00 lakh - 9.50

8 HOUSE REPAIRS (Max. loan upto Rs.2.00 Lakhs) 14.00
9
EDUCATION LOAN (VIDYA)
up Rs.10.00 Lakh
Above Rs.10.00 Lakh
 
9.50
10.00
10 VEHICLE LOANS  
a. Two Wheeler for Personal Use 11.00
b. Four Wheeler for Personal Use

Up to 3 years - 9.00 15% margin on road cost of vehicle
Above 3 years & up to 5 years - 9.50

c. Second hand (used) Vehicle (Repayment Period up to 3 years) 13.00
d. VEHICLE LOANS - (For Commercial Use) 3 Wheeler/ 4 Wheeler 12.50
e. Second hand (used) Commercial Vehicle (Up to 3 years old repayment tenure Max. 3years) 13.50
     
11 LOANS TO PROFESSIONALS (ADVOCATE, ARCHITECT, CHARTERED ACCOUNTANT etc. 12.00
12 LOANS TO DOCTORS (DOCTOR HELLO), HOSPITALS, CLINICS. 11.50
13 BUSINESS LOANS TO PHARMA DISTRIBUTORS (Term Loan, Cash Credit / Overdraft Limit) For Existing Clients - 10.00
For New Clients - 10.50
14 Agricultural Loans

11.50

15 BUILDERS & DEVELOPERS / CRE Loans 14.00
16 SUHANA SAFAR LOAN SCHEME 11.00
17 FOR HOTEL / RESORTS 13.50
18 LEASE RENT DISCOUNTING (LRD) 13.00
 
Notes:
*** Figures in bracket indicate existing interest rates.
1 In case of new limit to be sanctioned to SME units concession of 0.25% interest will be given for new CC / OD and Term Loans & existing CC/OD interest rate to be 0.25% less than applicable rate of interest.
2 In case of Consortium Advance Bank will match ROI as per Lead Bank.
3 In case of take over of loan from other banks, either Bank will match rate of interest or charge 0.50% less, depending upon the credit rating of the customer and the latest financial indicators and CIBIL Ratings.
4 Revision in Rate of interest shall be made applicable to existing Cash Credit and Overdraft Limit and all new Loans and Advances w.e.f 1st August 2018
5 For TOL Rate of Interest will be 3.00% p.a. over and above applicable interest rate in the account.
6 In case of Mortgage loans to individuals maximum loan amount shall be Rs.50.00 Lakhs.
7 Further, Concession if any, in rate of interest will be considered strictly on the basis of credit rating of the borrower.
Asst. General Manager (Credit)
Chief Executive Officer


 
 
 
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