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Interest rate on Advances
 
  • As per policy, Interest on Advances are charged on reducing balances.
  • Interest rates are chargeable on floating or fixed rates depending upon scheme and terms & conditions of sanction.
  • Interest Rates on Advances 

S. No.

Particulars

Rate of Interest

With Effect From

1

Prime Lending Rate

14.75%

14.05.2012

2

Base Rate

9.45%

03.10.2017

3

1 year MCLR

8.40%

11.09.2017

4

Maximum spread of the Bank over MCLR

5.00%

10.07.2017

5

Maximum penal rate of interest on fund based facilities*

2%

 

6

Maximum penal rate of interest on non-fund based facilities*

0.25%

  • In cases where the penal interest/commission are applicable for more than one type of default, the aggregate of such penal interest rates shall not exceed 3% p.a. plus 0.25% p.a. on the Non-Fund based outstanding subject to the condition that the overall rate of interest including penal charge/commission shall not exceed benchmark lending rate plus Maximum spread plus 2% p.a.
Sr. No. Title Click
1. MCLR w.e.f. from - 11.04.2018
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2. MCLR w.e.f. from - 12.03.2018
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3. MCLR w.e.f. from - 12.02.2018
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4. MCLR w.e.f. from - 11.01.2018
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5. MCLR w.e.f. from - 11.12.2017
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6. MCLR w.e.f. from - 13.11.2017
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7. MCLR w.e.f. from - 11.10.2017
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8. MCLR w.e.f. from - 11.09.2017
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9. MCLR w.e.f. from - 11.08.2017
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10. MCLR w.e.f. from - 11.07.2017
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11. MCLR w.e.f. from - 12.06.2017
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12. MCLR w.e.f. from - 01.05.2017
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13. MCLR Based Rate of Interest
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14. Display of Information as per RBI Guidelines - Interest Rate Range of Contracted Loans
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