Interest Rates on Loans and Advances
Interest Rates on Loans and Advances
Marginal Cost of funds based Lending Rate (MCLR) with effective from 16.03.2023
| Overnight MCLR | 9.05% |
| One Month MCLR | 9.10% |
| Three Months MCLR | 9.15% |
| Six Months MCLR | 9.25% |
| One Year MCLR | 9.30% |
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) |
|
Description of loan scheme/ product |
Range of Spread over EBR (% p.a)* |
|
Home Loan - Salaried |
|
|
Loan Amount |
Interest Rate |
|
Upto 30 Lakhs |
10.15 (Repo Rate + 3.65) |
|
Above 30 Lakhs and upto 75 Lakhs |
10.20 (Repo Rate+ 3.70) |
|
Above 75 Lakhs |
10.25 (Repo Rate+ 3.75) |
|
Home Loan – Self-employed |
|
|
Loan Amount |
Interest Rate |
|
Upto 30Lakhs |
10.20 (Repo Rate + 3.70) |
|
Above 30Lakhs and upto 75Lakhs |
10.25 (Repo Rate + 3.75) |
|
Above 75Lakhs |
10.30 (Repo Rate + 3.80) |
|
Car Loan - New |
|
|
Type |
Interest Rate |
|
New |
11.00 (Repo Rate + 4.50) |
|
Used |
16.30 (Repo Rate + 9.80) |
|
Other Loans |
|
|
Type |
Interest Rate |
|
Property Power Loan (LAP) |
12.60 (Repo Rate + 6.10) Onwards |
|
Education Loan |
12.55 (Repo Rate + 6.05) Onwards |
|
Gold Loans |
9.49 (Repo Rate + 2.99%) |
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 |
11.49 to 14.49 |
|
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 |
11.60 % to 14.35 % |
12.30% to 15.00 % |
|
Loans Against Property |
11.25 % to 14.00% |
12.00% to 14.75% |
|
Business Vehicle Loans |
11.85 % to 12.65% |
12.45% to 13.25% |
|
Other Business Loans |
11.40 % to 16.55% |
12.30% to 17.15% |
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 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