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Grievance Redressal
Loan Interest Rate

Interest Rates on Loans

Effective from May 31, 2024 (As per Order No. 8)

Housing Loans HV/LT & CC/OD Demand & Securities

Housing Loans (HB)

Residential & Commercial
CIBIL Score HB Loan (Residential) HB Loan (Commercial)
EMI Products Daily Reducing EMI Products Daily Reducing
800 and Above 9.05%10.40% 9.20%10.25%
750 – 799 9.35%10.80% 9.35%10.45%
700 – 749 9.40%10.85% 9.50%10.60%
600 – 699 9.45%10.95% 9.55%10.70%
Below 599 9.70%11.25% 9.85%11.05%
No Score (-1)* 9.35% / 9.40% (EMI) | 10.80% / 10.85% (DRP) 9.35% / 9.45% (EMI) | 10.45% / 10.60% (DRP)

* For No Score (-1): Lower rates apply if a family member with CIBIL score above 750 is a principal guarantor.

Vehicle, Term Loans & Working Capital

HV & LT Loans

CIBIL Score EMI Products Daily Reducing
800 and Above8.80%9.75%
750 – 7998.90%9.90%
700 – 7499.00%10.00%
600 – 6999.10%10.15%
Below 5999.30%10.40%
No Score (-1)8.90% / 9.00%9.90% / 10.00%

Cash Credit (CC) and Overdraft (OD)

CIBIL ScoreRate of Interest
750 and Above9.80%
600 – 74910.00%
Below 60010.25%
No Score (-1)10.00%

Composite Loans (10 Cr. and Above)

CIBIL 750+ ROI: 9.90%
CIBIL Below 750 ROI: 10.10%

Demand Loans & Loans against Securities

Types of Loan Particulars / Margin ROI
Against Bank’s own Time Deposits Upto 90% of present value (Non-speculative purpose) 1% above Payable Rate
Against Pledge/Assignment of Securities
(NSC, KVP, LIC Policies)		 Maintaining appropriate margin as per Bank practice 10.25%

Guidelines & Important Information

Credit Score Compliance

ROI is determined strictly by the applicant’s CIBIL Score. Lower scores or ‘No Score’ cases are subject to guarantor verification as per the circular.

Repayment Structures

  • EMI Products: Equated Monthly Installment based interest.
  • Daily Reducing: Interest calculated on the outstanding daily balance.

Validity

These rates are effective from 31-05-2024. All rates are annual (p.a.) and subject to Bank’s Asset-Liability Committee (ALCO) revisions.