logo

Revised Risk based CIBIL Linked Rate of Interest on Loans & Advances w.e.f. 16th April 2024

 

 

 

Sr. No

 

TypeofCredit Facility

 

TypeofUnderlyingPrimary&Collateral Security

 

Maximum Amount

ApplicableRateofInterestbasedonCIBIL Credit Vision

scoreoftheBorrowerANDGuarantor

CIBIL Not

lessthan800

CIBILNot

lessthan725

CIBIL Not

lessthan650

CIBILless

than650

 

 

1.

 

Loan / Overdraft againstFDRof JCB

 

FDRoftheBankinthenameofborrower

 

90%ofFD

 

1%over andabovetherateofInterestonFDR

 

FDRoftheBankinthenameofothers

 

90%ofFD

 

2%over andabovetherateofInterestonFDR

 

2.

Loan / Overdraft againstLiquid

Security

 

AssignmentofLICPolicy,NSCs,KVPs,

 

90%ofSV

 

9.75%

 

10.25%

 

11.00%

 

12.00%

 

 

 

3.

 

 

#-Personal Loan

Micro Personal Loan to Borrowers having annualincomenotmorethan1.60Lakhs&

AgainstsuretyofaGovernment Employee

 

Rs.1.00Lakh

 

8.50%

 

9.50%

 

11.00%

 

13.00%

AgainstEmployerUndertakingtodeductEMI & deposit with the Bank including staff loan

 

Rs.5.00Lakhs

10.50%

11.50%

13.00%

15.00%

AgainstSalaryAccountwith JCB

11.50%

12.50%

14.00%

16.00%

AgainstPersonalSurety

12.75%

14.75%

16.75%%

18.75%

 

 

 

 

 

 

4.

 

 

 

 

 

$-Education Loan

ForDomestic Studies

ForStudiesinGovernmentSchool/ Colleges,

Againstpersonal Sureties

 

Rs.5.00Lakhs

8.50%

9.50%

11.00%

13.00%

ForStudiesinPrivateSchool/Colleges,

Againstpersonal Sureties

9.00%

10.00%

11.50%

13.50%

For Studies in Government/Private School/Colleges,AgainstEquitableMortgage of Approved Property OR Surety of a government employee (Benefit of

GovernmentEmployeeNotApplicable)

 

 

Rs.20.00 Lakhs

 

 

9.00%

 

 

9.50%

 

 

10.25%

 

 

11.50%

 

ForDomesticStudiesinGovernment/Private School/Colleges Against Equitable Mortgage of Approved Property

75% of Underlying securityor Maximum

Rs.100.00Lakhs

 

 

10.50%

 

 

11.25%

 

 

12.25%

 

 

13.50%

 

 

 

 

 

5.

 

 

 

$-Education Loan

ForOverseas Studies

For Studies in overseas College / Universities,AgainstEquitableMortgageof Approved Property ORSurety of a government employee (Benefit of

GovernmentEmployeeNotApplicable)

 

 

Rs.20.00 Lakhs

 

 

9.50%

 

 

10.25%

 

 

11.25%

 

 

12.50%

 

For Studies in overseas College / Universities,AgainstEquitableMortgageof Approved Property

75% of Underlying security Maximum

Rs.100.00Lakhs

 

 

10.75%

 

 

11.50%

 

 

12.50%

 

 

13.75%

 

 

 

 

 

6.

# - Housing Loan to individuals, Against Equitable mortgageof Approved Property enforceable under

SARFAESI Act

Loan Amt Not exceeding Rs.35.00 Lakhs and PropertyValuenotexceedingRs.45.00Lakhs

(UnderPriority Sector)

 

 

 

80%ofProperty ValueMaximumupto Rs.140.00 Lakhs

 

8.50%

 

9.25%

 

10.25%

 

11.50%

 

 

 

LoanAmtNotexceedingRs.140.00 Lakhs

 

 

 

9.75%

 

 

 

10.50%

 

 

 

11.50%

 

 

 

12.75%

 

 

 

7.

 

 

#-VehicleLoan

New Vehicles

E-Rickshaw,Auto,LightPassengerVehicle with commercial permit

 

 

90%ofonRoad price of the vehicle

9.75%

10.50%

11.50%

13.00%

Bus/Truckwith commercialpermit(Chassis)

10.50%

11.25%

12.25%

13.50%

Vehicleforpersonaluseupto 10 Lakhs

9.50%

10.50%

11.75%

13.25%

Vehicleforpersonaluse>10Lupto25 Lakhs

9.50%

10.75%

12.25%

13.75%

Vehicleforpersonalusemore than25 Lakhs

9.50%

10.75%

12.75%

14.75%

 

 

8.

 

 

VehicleLoan

Used Vehicles

 

CommercialVehiclewithPermit

75%of Market

Valueor200% of Insurance Value or Maximum of

Rs.50.00 Lakhs

 

11.75%

 

12.50%

 

13.50%

 

14.75%

PassengerVehicleforpersonaluse

11.50%

12.50%

13.75%

14.75%

 

9.

IndividualLoan

/ Overdraft againstfuture

FutureReceivablesfromGovernment/PSUs collaterally secured by Equitable Mortgage of Approved property enforceable under

SARFAESI Act

90% of Receivable Value

 

9.50%

 

10.00%

 

10.75

 

12.00%

 

 

Receivables (LAFR)

FutureReceivablesfromGovernment/ PSUs

WITHOUTcollateralofApprovedproperty

NOTenforceableunderSARFAESIAct

80% of Receivable

Value

 

13.50%

 

14.50%

 

16.00%

 

18.00%

FutureReceivablesfromCorporateClients/ Legal entities collaterally secured by Equitable Mortgage of Approved property

enforceableunderSARFAESIAct

85% of Receivable Value

 

10.50%

 

11.25%

 

12.25%

 

13.50%

FutureReceivablesfromCorporateClients/ Legal entities WITHOUT collateral of Approved property OR Security Not

enforceableunderSARFAESI Act

75% of Receivable Value

 

14.00%

 

15.00%

 

16.50%

 

18.00%

Future Receivables from Individuals collaterallysecuredbyEquitableMortgage of Approved property enforceable under

SARFAESI Act

75% of Receivable Value

 

11.00%

 

11.75%

 

12.75%

 

14.00%

Future Receivables from Individuals WITHOUTcollateralofApprovedproperty OR Security Not enforceable under

SARFAESI Act

60% of Receivable Value

 

14.50%

 

16.00%

 

18.00%

 

-N/A-

 

 

10.

 

 

Mortgage(LAP) Loan

Overdraft / Loan up to Rs.25.00 Lakhs to Individualforconsumptionagainstapproved

property.

75%ofmarket Value

 

10.25%

 

11.00%

 

12.00%

 

13.25%

Overdraft/LoanmorethanRs.25.00Lakhs to Individuals / Firms for Commercial use

againstapprovedproperty.

75%ofMarket Value

 

10.75%

 

11.50%

 

12.50%

 

13.75%

 

 

 

 

 

11.

 

 

Land&Building Loan (Other than Housing purpose) for commercial / Industrial use

Commercial / Industrial plots directly allottedbytheGovernmentagenciesinthe

nameoftheborrower

80% of AllotmentValue

 

9.75%

 

10.50%

 

11.50%

 

12.75%

Commercial/Industrialplotsallottedbythe Governmentagenciesinthenameofothers (Re-sale to borrower)

200% of allotmentvalue or 75% of market Value whichever is

less

 

 

10.75%

 

 

11.50%

 

 

12.50%

 

 

13.75%

ApprovedCommercial/Industrialplotsof Individuals

75%ofmarket Value

11.25%

12.00%

13.00%

14.25%

 

 

 

12.

Plant & Machinery/ Equipment Loan

PlantandMachinery/Equipment

CollaterallysecuredbyEquitableMortgage

ofProperty

80%ofInvoice Amount

 

10.00%

 

10.50%

 

11.25%

 

12.00%

PlantandMachinery /Equipment NOT

securedbyEquitableMortgageof Property

75%of Invoice

Amount

12.00%

13.00%

14.50%

16.50%

 

 

 

13.

 

WorkingCapital (CC) Limit/WCTerm Loan

WorkingCapitalLimitagainsthypothecation of Stock / Book Debts Collaterally securedby Equitable Mortgage of Property

UptoRs.25.00

Lakhs

9.25%

10.00%

11.00%

12.25%

Morethan

Rs.25.00 Lakhs

9.75%

10.50%

11.50%

12.75%

WorkingCapitalLimitagainsthypothecation of Stock / Book Debts Collaterally NOT

securedbyEquitableMortgageof Property

Maximumupto Rs.25.00 Lakhs

 

13.50%

 

14.50%

 

16.00%

 

18.00%

 

 

14.

Yearly Commissionon Bank Guarantees

Againstthesecuredportionbyway ofFDR

 

0.50%ofFDR

0.75%ofFDR

1.00%ofFDR

1.50%ofFDR

Againstthesecuredportionby wayof

EquitablemortgageofProperty

 

2.75%

3.25%

4.00%

5.00%

UnsecuredPortion

 

3.50%

4.25%

5.25%

6.50%

Minimumcommissionshallbeforoneyear.Brokenmonthsshallbetreatedasone full year.

 

 

15.

 

 

ProcessingFee

OnfreshSanctionofTermLoans/ Cash

Credit/OverdraftLimits(Exceptagainst FD)

 

0.50%

0.75%

1.00%

1.50%

OnRenewalof CashCredit/OverdraftLimits

 

0.40%

0.55%

0.75%

1.25%

Ad-hocCreditlimitupto90days ina year

 

0.25%

0.40%

0.60%

1.25%

Ad-hocCreditlimitmorethan90days inayr

 

0.50%

0.75%

1.00%

1.50%

15.

Inspection Charges

CreditfacilitiesuptoRs.5.00Lakhs

 

Rs.500/-perVisitmaximum2visitsinayear

CreditFacilitiesmorethanRs.5.00Lakhs

 

Rs.1000/-perVisitmaximum2visitsinayear

Special Considerations:

#-LoanstoGovernmentemployeesorontheguaranteeofagovernmentemployeehavingresidualservice1.5timesoftheloantenorshallbeeligiblefor0.50%discounton applicable rate of interest.

$ - Education loans to girl or specially enabled student or any other student securing 75% or above marks in their qualifying exam (not entrance exam) shall be eligible for 0.50% rebate on applicable rate of interest.

Benefitofany onespecialconsiderationcanbepassedtoastudent.Notwoormorespecialconsiderationscanbeclubbedtogether.

Notes:

  1. CIBILScoreoftheBorrowersorguarantorshavingnocredithistory(i.e.CIBILScore -1)shallbeassumedas650.
  2. Before issuing loan application to prospective borrower, branch shall ensure that the borrower is a member / has applied forthe membership of the bank and has banking relation (i.e. having operative savings / current A/c) with the bank and is maintaining required minimum balance.
  3.  
  4. In case of renewal of cash credit / overdraft limit, the applicable rate of interest shall be according to CIBIL score of the borrower and guarantors at the time of renewal.
  5. TheRenewalofCashCredit/ Overdraftshallbefora periodof12monthsfromthedateofrenewal.However,processingfeeshallbechargedon pro ratabasis.
  6. Pre-processingFee:25%ofapplicableprocessingfeeorRs.5000/-whicheverislesstoberecovered alongwiththeloanapplicationbeforeappraisal towardspre-processing fee and kept in sundry Account at the Branch and shall be adjusted against the processing fee at the time of disbursement. In case of rejection of theloan, the same shall be refunded to the borrower. However, in case of non-availing credit facility within 60 days from the date of sanction, the same shall bebooked as pre-processing fee. In case of revalidation of a credit facility, complete processing fee shall be recovered at the time of disbursal.
  7. ProcessingFee, Commissionandinspectionchargesmentioned aboveareexcludingtaxes andapplicabletaxesshallbeloadedatthetimeofrecovery.
  8. Non/Delayedsubmissionofstockorbookdebtsstatement,non-renewalofCC/Overdraftlimitshallattractpenalinterest@2% P.A.onentireoutstanding.
  9. Applicable rate of interest on overdrawn portion / over and above drawing power/ available limit in case of reducing Term loans shall be 18% P.A. on overdrawn amount