Interest Rates

Our rates of interest (per annum) on domestic deposits have been revised w.e.f. 06.08.2020 as under :

Savings Bank Account - 3.00%
Current Account - 0.00%
Daily Deposit Account - 3.00%
Recurring Deposits
Term Gen public Members of staff
12 months 6.75% 7.00%
24 months 6.75% 7.00%
36 months 6.75% 7.00%
48 months 6.50% 7.00%
60 months & above 6.50% 7.00%
Term Deposits
Term Deposits :
(Less than Rs. 50 lac)
(a) Gen public
Other than (b) & (c)
(b) Senior Citizen (c) Members of staff
07 days to 29 days 3.75% 3.75% 3.75%
30 days to 90 days 4.00% 4.00% 4.00%
91 days to 180 days 4.50% 4.50% 4.75%
181 days to 364 days 5.50% 5.50% 6.00%
12 months to 36 months (Inclusive) 6.75% 7.25% 7.25%
Above 36 months to 60 months 6.50% 7.00% 7.00%
Above 60 months 6.00% 6.50% 6.50%

Interest Rates on Loans / Advances
The interest rates on loans and advances have been revised. As such, the following will be our lending rates effective from 06.11.2017: (On loans and advances sanctioned on or after 06.11.2017) :

1. Housing loans (only for construction / purchase of house / flat)
Rate of interest p.a.
For Construction of house/purchase of new flat 10.50%
For purchase of used(old) house/flat 11.50%
2. Loans for purchase of Four wheelers (other than goods carrier) for personal use
(a) New cars (upto 80% of cost) 10.50%
(b) Used cars  
i. used upto 3 years - 65% of purchase price/valuation whichever is less 11.50%
ii. used for 3 – 5 years - 50% of purchase price/valuation whichever is less 13.00%
3. Loans for purchase of Four wheelers for commercial use
(a) New cars (upto 75% of cost) 11.50%
(b)Used cars
i. used upto 3 years - 60% of purchase price/valuation whichever is less 13.00%
ii. used for 3 – 5 years - 50% of purchase price/valuation whichever is less 13.50%
4. Loan for two wheelers/Three wheelers - 13.50%
5. Loan for Trucks
(a) New Trucks (upto 75% of cost) 13.50%
(b) Used Trucks
i. used upto 5 years - 50% of purchase price/valuation whichever is less 14.50%
6. Loans to Professionals
Upto Rs.25 lac 12.00%
Above Rs.25 lac 12.50%
7. Jewellery loans - 13.00%
8. Loans to Builders/Commercial Real Estate Developers - 14.00%
9. Other Secured Loans & Advances for business purpose/mortgage loans for any purpose
(i) Upto and inclusive of Rs.2 lac 12.00%
(ii) Above Rs.2 lac upto Rs.5 lac 12.50%
(iii) Above Rs. 5 lac upto Rs.10 lac 13.00%
(iv) Above Rs. 10 Lacs 13.50%
10. Unsecured Loans and Loans for consumption purpose
Repayment by
(i) Salary deductions/ Salary transfer 12.00%
(ii) ECS/SI 13.50%
(iii) Without above arrangement (upto Rs 3.00 lakh only) 14.00%
11. Loans on deposits
Upto 85% of deposit - 1% above deposit rate
 
However, concession in interest rates may be allowed or higher rates of interest may be prescribed by the Board/Executive Committee of Directors at its discretion or on the basis of credit rating, past repayment record of the borrower, risk factors etc., for specific loan/advance accounts. In such cases, the rates of interest as per sanction orders shall be applicable. Where concession in rate of interest is allowed on existing loan A/cs, the same rate of interest shall be retained.
Please ensure that the above interest rates are implemented properly. The above rates of interest may also be made applicable to loans classified under standard assets on request from the concerned borrowers, and after obtaining sanction from the sanctioning authority.