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Rate of Interest

 
  • Rate of interest on loans and advances in two categories the new rate or interest on advances effective from 1st June 2013
  • REGULAR REDUCING FOR 60 MONTHS
  • Sr.No Type of Loan Proposed Rate of Interest
  • 01 Edu.Loan 14%
  • 02 Shop Loan 15%
  • 03 Housing Loan 15%
  • 04 Gold Loan 12.50%
  • 05 CC Hypo 15%
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  • EMI FACILITY FOR 45 MONTHS
  • Sr.No Type of Loan Proposed Rate of Interest
  • 01 H.P.Loan 13.50%
  • 02 Hypo Vehicle 14.50%
  • 03 Consumer Durable 14.50%
  • 04 Salary Loan 14.00%
  • 05 Hypo Goods 14.50%
  • 06 P.S. Loan 14.00%
  • 07 Mortgage 14.00%
  • 08 Computer/Laptop 11.50%

Note :

1. Flexibility for Excess Payment but EMI's is to be paid regularly to avoid default.

2. No Foreclosing Charge on Loan in Above EMI'S

  • Housing Loan Under E.M.I. Scheme Rate Of Interest and E.M.I.(For Rs.1 Lac Monthly Installment)
  •   5 Years 10 Years 15 Years
  • Fixed 12.50% 13.00% 13.50%
  • Monthly E.M.i. 2250.00 1493.00 1298.00
  • Floatinng 11% 12% 12.50%
  • Monthly E.M.I. 2174.00 1435.00 1233.00

Revised Rate of Interest on Housing Loan under Floating rate of interest is applicable to all fresh disbursements and also to previous disbursed housing loan and shop loan under floating rate of interest category.

  • The New Rate of Interest on Deposits Effective from 1st June 2013
  • 1. The New Rate of Interest on Deposits Effective from 1st June 2013

  • 2. Rate Of Interest On Deposits

  • Sr.No PERIOD RATE OF INTEREST
  •     General Domestic Depositor Sr.Citizen Depositor Co-Op Soc. Registered U/MCS Act 1960 and trust deposit.
  • 1 7 days to less 14 days 4% 4% 4%
  • 2 15 days to less 28 days 4% 4% 4%
  • 3 29 days to less than 3 months 5% 5% 5%
  • 4 3 months to less than 6 months 7% 7.50% 7.50%
  • 5 7 days to less 14 days 8% 8.50% 8.50%
  • 6 1 year to less than 3 year 7.50% 8% 8%
  • 7 3 years to 4 years 9.50% 10% 10%
  • 8 4 years to 5 years 10% 10.25% 10.25%
  • 9 5 years and above 10.25% 10.25% 10.25%

Note :

1.Deposit of Rs.15 lac to 1 Crore will be paid additional interest @ 0.25%.

2.Deposit above Rs.1 Crore will be paid additional @ .50% p.a.

3.Flexibility in premature withdrawal of a Term Deposit and interest at the rate applicable to the period for which the deposit had remained with the bank or at a contract rate whichever is less without levy of penalty.