Interest Rates on Loans and Advances

Marginal Cost of funds based Lending Rate (MCLR) with effective from 16.11.2022

Overnight MCLR 8.45%
One Month MCLR 8.50%
Three Months MCLR 8.55%
Six Months MCLR 8.65%
One Year MCLR 8.70%

 

Base Rate of the Bank – 9.63%

Floating Rates Loans (Interest Rates on Retail portfolio linked to RBI Repo Rate)

 
Present Repo Rate 5.90%   (p.a)
 
 

Description of loan scheme/ product

Range of Spread over EBR (% p.a)*

Home Loan - Salaried

Loan Amount

Interest Rate

Upto 30Lakhs

9.55 (Repo Rate + 3.65)

Above 30Lakhs and upto 75Lakhs

9.60 (Repo Rate + 3.70)

Above 75Lakhs

9.65 (Repo Rate + 3.75)

Home Loan – Self-employed

Loan Amount

Interest Rate

Upto 30Lakhs

9.60 (Repo Rate + 3.70)

Above 30Lakhs and upto 75Lakhs

9.65 (Repo Rate + 3.75)

Above 75Lakhs

9.70 (Repo Rate + 3.80))

Car Loan - New

Type

Interest Rate

New

10.40 (Repo Rate + 4.50)

Used

15.70 (Repo Rate + 9.80)

Other Loans

Type

Interest Rate

Property Power Loan (LAP)

12.00 (Repo Rate + 6.10) Onwards

Education Loan

11.95 (Repo Rate + 6.05) Onwards

Gold Loans

8.99% ( Repo Rate + 3.09%)

 

Retail Loans with Fixed Interest Rates

Description of loan scheme/ product

Interest Rate (% p.a)*

Two Wheeler Loan

Vehicle Cubic Capacity (cc)

Interest Rate

Two wheeler Loan (under 500cc)

17.00

Super Bike Loan (500cc and above)

12.50

Personal Loan

10.49 to 17.99

Gold Loan

8.50 onwards

Loan Against Fixed Deposits – Term Loan / Easy Cash (Overdraft)

Type

Interest Rate

Against Own Deposits

Deposit Rate + 2.00

Against Third Party Deposits

12.50 or Deposit Rate + 2.00, whichever is higher

Loan Against Approved Securities (NSC,IVP, KVP and LIC Policies)

Type

Interest Rate

Term Loan - Against Own Securities

12.50

Term Loan - Against Third Party Securities

12.75

Easy Cash (Overdraft) - Against Own Securities

12.75

Easy Cash (Overdraft) - Against Third Party Securities

13.00

Fed Rise - Loan Against Recurring Deposits

Type

Interest Rate

Against own Recurring Deposits

10.75 or Recurring Deposit Rate + 2.00, whichever is higher

Against Third Party Recurring Deposits

11.25 or Recurring Deposit Rate + 2.50, whichever is higher

Loan Against Demat Shares

12.50

 

 

Interest Rates for Business Loans up to Rs 10 Crores

Description of loan scheme/ product

For MSMEs (Floating rate linked to RBI Repo Rate) p. a

For Non-MSMEs (Floating Rate linked to MCLR) p. a

Rent Securitization Loans

11.25 % to 14.00 %

11.35% to 14.10 %

Loans Against Property

10.90 % to 13.65%

10.95% to 13.70%

Business Vehicle Loans

11.50 % to 12.25%

11.65% to 12.40%

Other Business Loans

11.00 % to 16.20%

11.20% to 16.35%

 

Other Micro Loans with Fixed Interest Rate

Description of loan scheme/ product Interest Rates (p.a) - Fixed
Micro credit to SHGs/ JLGs/ Kudumbasree and similar schemes 12.50%
Loans under NRLM/ NULM 12.50%
Loan under PM SVANidhi scheme 16.00%

 

The MCLR is computed by taking into account:
 
a) Bank's marginal cost of funds,
b) Negative carry on Cash Reserve Ratio (CRR),
c) Operating costs, and
d) Tenor premium.
 
Bank’s final lending rates for various types of loans and advances are arrived at by adding the spread to the benchmark MCLR of the loan. MCLR linked rates of interest are applicable for all loans and advances sanctioned/ disbursed/ renewed on or after 01st April 2016.

MCLR prevailing on the day loan is disbursed will be applicable till the next reset date, irrespective of the changes in the benchmark during the interim. The reset dates are linked to the MCLR review date and reset frequency.

For all loans linked to MCLR with different interest reset periods, the reset date stands aligned to the MCLR review date i.e 16th of the month, with effect from 16.01.2017.

Borrowers whose accounts are linked to BPLR/ Base Rate can approach the Branch Manager for conversion of their loan accounts to MCLR linked interest rates*. 

For information on MCLR rates and spread over MCLR, please contact branch officials or log on to Bank’s Official Website: www.federalbank.co.in
 
* Conditions apply