ADVANCES : RATES OF INTEREST
[Effective From 01-07-2010 ]

Sr. No. Particulars Rate of Interest
01  Against Govt. Securities
 > NSC/KVP/LIC Policy/Relief Bond 11.00%
02  Education Loan (up to Rs.20/-lacs) 9.00%
03  Gold Loan (Maximum One Year) - up to Rs. 1/- Lacs 13.00%
04  Auto Loans
 > Car Loan (up to Rs.25/-lacs) 9.00%
 > Two Wheelers 12.00%
 > CNG Rickshaw 12.00%
 > Other Commercial Vehicles 12.00%
 > Used Cars 12.50%
05  Consumer Durables (Household Goods) 12.00%
06  Doctors Loan 10.00%
07  Self employed / Service Enterprises / Professionals 12.00%
08  Housing Loans (up to Rs.50/-lacs) for the first 2 yrs. 8.50% for the remaining period 10% 8.50% 10.00%
09  Demat Shares (up to Rs.10/-lacs) 13.00%
10  Mortgage Loan / Overdraft 13.00%
11  Loan / Overdraft / against own deposit 1% more then    Deposit rate. 1.00%
   Loan / Overdraft / against Third party deposit 2% more then Deposit rate. 2.00%
12  Trade & Industry for Working Capital
 > Working Capital Advances for Rs.1/- Crore and Above with 100% Collateral Security and other Condition 11.00%
 > Bills Discounting under LC of prime bank (up to 90 days) 11.00%
 > Clean Cash Credit / Overdraft (up to Rs.2/- lacs) 13.50%
 > Cheque Purchase / Discount 13.50%
 > Clean Bills / D.A.Bills Purchase / Discount 13.50%
 > Co-acceptance / D.A.Bills / Trust Receipt 13.00%
 > Hypothecation / pledge of Stock /Book Debts 13.00%
 > Hypothecation of Plant and Machinery(Term Loan) 12.25%
 > Composite Loan / Cash Credit 13.50%
 > Mortgage of Office / Factory / Godown(Term Loan) 12.25%
 

 > Term Loan (other Fixtures)

12.25%
   > Temporary Loan / Overdraft / Cash Credit (Up to Rs.10/-lacs over and above reqular limit) 14.00%
 > Excess over sanctioned limit 14.00%
  > Drawing against uncleared effect (Clearing) 14.00%
Rebate:

Credit Rating System discontinued from F.Y. 2009-10. No Rebate

Rate will be effective for new sanction on or after 01-07-2010

 

 

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