Loans & Advances
Loans & Advances
Rates of Interest are as under : -
| S. No. | Type of Loans/Advances | Effective Rate |
|---|---|---|
| 1 |
Loan against/KVP/NSC/RBI Bond and LIC Policies etc. |
12% |
| 2 | Cash Credit | 13% |
| 3 | Secured Loan for productive purpose against security of property | 13% |
| 4 | Overdraft - Limit for productive purpose against security of property | 13% |
| 5 | Unsecured Loans | 15% |
| 6 | New Vehicle Loan | 11% |
| 7 | Old Vehicle Loan | 14% |
| 8 | Housing Loan | 10% |
| 9 | Machinery Loan (New)/Industrial Loan | 14% |
| 10 | Adhoc/Temporary CC/OD | 16% |
| 11 | Loan/OD against FDR in the name of borrower | 2% over & above deposit interest rate. |
| 12 | Loan/OD against FDR in the name of third party | 3% over & above deposit interest rate. |
| 13 | Staff Loans & Advances | 9% |
| 14 | Staff Clean OD with lien in PF & Gratuity as per bank policy | 9% |
Note : -
- Penal interest @ 2% over & above normal interest to be charged in case of irregularity/default.