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Home >> Details of Rate of Interest applicable on various Retails Schemes
Details of Rate of Interest applicable on various Retails Schemes
 

RATE OF INTEREST ON RETAIL CREDIT ADVANCES (FRESH FINANCE) AS PER BASE RATE OF 10.25%- Effective from 27.08.2014

 IN EXISTING LOAN ACCOUNTS THE RATES SHALL VARY ACCORDING TO CHANGES IN BASE RATE

SCHEME

PARTICULARS OF INTEREST RATE

 

 

 

Education Loan

 

Loan up to Rs. 4.00  Lacs

BR + 2.50%    =   12.75%*

Above Rs.4.00 Lacs & Upto Rs.7.50 Lacs  

Without Collateral Security

BR + 3.00%    =   13.25%*

With Collateral Security

BR + 1.75%    =   12.00%*

Above Rs.7.50 Lacs

BR + 1.75%    =   12.00%*

Education Loan to Serving Professionals for Part-time courses

BR + 2.50%    =   12.75%*

Scheme for Vocational Education & Training

BR + 2.50%    =   12.75%*

Scheme for students of MDI, Gurgaon & IMT, Ghaziabad

BR + 1.00%    =   11.25%*

Scheme for Students of IIMS, IITs, XLRI & ISBs

BR=10.25%

* 0.50% concession for Girl Student/ SC/ ST/ Disabled, subject to minimum of Base Rate.

 

Housing Loans

Irrespective of Loan Limit

BR =10.25%

 

Stree Shakri-Scheme for Women

Loan upto Rs. 3.00 Lacs

BR+2.50%=12.75%

 

Earnest Money finance scheme

For purchase of plot / flat/ house in Govt. sponsored schemes

BR +1.50% =  11.75%

 

Car/Vehicle Loan Scheme

Loan Tenor upto 36 months

BR + 0.50%  =  10.75%

Loan Tenor upto 84 months

BR + 0.75%  =  11.00%

Second Hand Car Loan

If loan is repayable within 3 years

BR + 3.00%  =  13.25%

 

Loan To Traders Scheme

Loan upto Rs.50000

BR +1.75% = 12.00%

Loan above Rs.50000 & upto Rs. 2.00 Lac

BR +2.50% = 12.75%

Above Rs 2 Lacs to Rs. 25.00 Lacs

BR +2.75% = 13.00%

Above Rs 25 Lacs to Rs.50 Lacs

BR+2.50% = 12.75%   (If Credit rating is  1)

BR+3.00% = 13.25%   (If credit rating is  2)

BR+4.00% = 14.25%   (If credit rating is  3)

BR+5.00% = 15.25%   (If credit rating is  below 4, 5, 6 & 7)

 

Oriental Business Loan Scheme (OBLS)

BR + 2.75%   = 13.00%

Oriental Mortgage Loan Scheme (OMLS)

BR + 3.50%  = 13.75%

 

Personal Loan scheme

 

a)       Govt. (Central / State) & PSU Employees (Working & Pensioners)

BR +2.25% =  12.50%

B)    Corporate Employees

BR +3.25% =  13.50%

 

Scheme For Financing Against Govt. Securities/LICs etc.

Loan up to 50.00 Lac (max)

BR +2.00%    =  12.25%

 

 

a)    Scheme for Loan to Doctors

 

b)    Women Entrepreneurs Scheme/ Financing Beauty Parlors/ by Women

 

c)     Loans to Professionals (Except Doctors)

Loan upto Rs.50000

BR +1.75% = 12.00%

Loan above Rs.50000 & upto Rs. 2 Lacs

BR +2.00% = 12.25%

Above Rs 2 Lacs to Rs. 25.00 Lacs

BR +2.25% = 12.50%

Above Rs 25 Lacs to Rs.1.00 Crore

BR+2.50%=12.75%  ( If credit rating is 1)

BR+2.75%=13.00%   (If credit rating is 2)

BR+3.00%=13.25%   (If credit rating is 3)

BR+3.25%=13.50%   (If credit rating is 4)

BR+3.50%=13.75%   (If credit rating is 5)

BR+3.75%=14.00%   (If credit rating is 6 & below)

 

Scheme for Financing Auto-Taxi

Up to Rs. 25.00 Lacs

BR+1.75% =12.00%

Above Rs 25 Lacs to Rs.50.00 Lacs

BR+2.25% =12.50%  (If credit rating is 1)

BR+2.50% =12.75%  (If credit rating is 2)

BR+2.75% =13.00%  (If credit rating is 3)

BR+3.00% =13.25%  (If credit rating is 4)

BR+3.25% =13.50%  (If credit rating is 5)

BR+3.50% =13.75%  (If credit rating is 6)

 

Advance Against Gold Ornaments

1)FOR  FARMERS

 

  Loan upto Rs.50000

BR +1.00%   = 11.25%

  Loan above Rs.50000 & upto Rs.2 Lacs

BR +1.50%   = 11.75%

  Above Rs. 2 Lacs & upto Rs. 10 Lacs

BR +2.00%   = 12.25%

2) FOR GENERAL PUBLIC

BR +3.00%   = 13.25%

 

Reverse Mortgage

12.75% with monthly rest on Fixed Rate, subject to reset clause of  3 yrs

 

Loan against Deposit

Advance against Self Deposits

1.50% over the applicable rate of interest on deposits

Advance against Third Party Deposits

2.00% over the applicable rate of interest on deposits with a floor of Base Rate