Interest Rates on Loans and Advances

Interest Rates on Loans and Advances


Marginal Cost of funds based Lending Rate (MCLR) with effect from 16.06.2024


Base Rate of the Bank – 9.63%

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

Present Repo Rate 6.50%  (p.a)

Loan scheme/ product

Interest Rate (%) *

Home Loan  

 8.80 (Repo Rate+ 2.30) Onwards 

Car Loan - New 

 8.85 (Repo Rate+ 2.35) Onwards 

Car Loan - Used 

 16.30 (Repo Rate + 9.80)  

Property Power Loan (LAP)

12.60 (Repo Rate + 6.10) Onwards

Education Loan

12.55 (Repo Rate + 6.05) Onwards

Gold Loans

 8.99% (Repo Rate + 2.49%) onwards


Retail Loans with Fixed Interest Rates

Loan scheme/ product

Interest Rate (% p.a)*


12.50 Onwards 

Personal Loan

11.49 Onwards 

Gold Loan

9.79 Onwards

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

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)

Term Loan - Against Own Securities

12.50 Onwards 

Easy Cash (Overdraft) - Against Own Securities

12.75 Onwards 

Fed Rise - Loan Against Recurring Deposits

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


*T&C Apply


Click here for detailed Interest Rates


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

For MSMEs (Fixed) p. a

For Non-MSMEs (Fixed) p. a

Rent Securitization Loans

11.05 % to 16.90 %

11.30% to 17.15 %

11.15% to 16.80%

11.40% to 17%

Loans Against Property

11.15 % to 14.55%

11.35% to 14.80%

11.25% to 14.45%

11.50% to 14.65%

Business Vehicle Loans

11.10 % to 13.80%

11.30% to 14.05%

11.20% to 13.70%

11.40% to 13.90%

Other Business Loans

10.75 % to 17.45%

10.95% to 17.70%

10.85% to 17.35%

11.10% to 17.55%


Interest Rates for Agri loans

Federal Agri Mobile Schemes

Loans up to Rs. 10 Lakhs

  • New Vehicle – 10.00% fixed
  • Used Vehicle – 14% fixed

Loans above 10 Lakhs

  • New Vehicle – 9.70% fixed
  • Used Vehicle – 14% fixed
Federal Prathyasha Loans 13.80% Fixed
Loans against Electronic Negotiable Warehouse Receipt (ENWR) 10.00% Fixed
ISS KCC Loans 4% Fixed (Inclusive of subvention benefits)


Other Agri Loan- Individual Agri Loan- Non-Individual
Applicable MCLR + 3.80% (Spread) to 5.70% (Spread) Applicable MCLR + 4.45% (Spread) to 7.70% (Spread)


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:
* Conditions apply