Interest Rates

Breadcrumb

BSE-NSE-web Portlet

Interest Rates on Loans and Advances

Interest Rates on Loans and Advances

Marginal Cost of funds based Lending Rate (MCLR) with effective from 16.02.2021

Overnight MCLR 7.65%
One Month MCLR 7.75%
Three Months MCLR 7.80%
Six Months MCLR 7.85%
One Year MCLR 7.90%

 

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

 
Present Repo Rate 4.00%   (p.a)
 
 
Description of loan scheme/ product Range of Spread over EBR (% p.a)*
Home Loan - Salaried
Loan Amount Interest Rate
Upto 30Lakhs 7.65 (Repo Rate + 3.65)
Above 30Lakhs and upto 75Lakhs 7.70 (Repo Rate+ 3.70)
Above 75Lakhs 7.75 (Repo Rate+ 3.75)
Home Loan – Self-employed
Loan Amount Interest Rate
Upto 30Lakhs 7.70 (Repo Rate+ 3.70)
Above 30Lakhs and upto 75Lakhs 7.75 (Repo Rate + 3.75)
Above 75Lakhs 7.80 (Repo Rate + 3.80)
Car Loan - New
Type Interest Rate
New 8.50 (Repo Rate + 4.50)
Used 13.80 (Repo Rate+ 9.80)
Other Loans
Type Interest Rate
Property Power Loan (LAP) 10.10 (Repo Rate+ 6.10) Onwards
Education Loan 10.05 (Repo Rate+ 6.05) Onwards

 

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

 

 

Floating /Fixed Rates for Business Loans up to 5 Crores

 

Description of loan scheme/ product

Floating Rates (Linked to RBI Repo Rate) p.a

Floating Rates (Linked to One Year MCLR) p.a

Fixed Rates (p.a)

Loans to borrowers having aggregate credit limit up to 25 L. (Including contractors/ real estate developers)

10.35% to 14.25%

10.90% to 14.05%

11.10% to 14.25%

Loans to borrowers having aggregate credit limit above 25 L to 2 Cr (Including contractors/ real estate developers)

10.45% to 14.25%

11.00% to 14.05%

11.20% to 14.25%

Loans to borrowers having aggregate credit limit above 2 Cr to 5 Cr.(Including Contractors)

11.05% to 13.30%

11.60% to 13.30%

11.80% to 13.30%

Loans to Real Estate Developers above 2 Cr to 5 Cr.

11.20% to 13.45%

11.75% to 13.25%

11.95% to 13.45%

Rent Securitization Loans

10.45% to 12.70%

11.00% to 12.50%

11.20% to 12.70%

Commercial Vehicle Loans

9.20% to 11.25%

19.75% to 11.25%

9.95% to 11.25%

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%

 

MCLR Disclaimer

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 MCLR of tenor corresponding to the residual period to next interest reset 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 existing loans linked to MCLR with different interest reset periods, the reset date will be aligned to the MCLR review date i.e 16th of the month instead of 01st of the month as followed hitherto.
 
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*. 
 
* Conditions apply