Sr. No |
Particulars |
Revised Interest Rate
w.e.f 02.02.2009 |
Revised Interest Rate
w.e.f.20/07/2009 |
09 |
Other Commercial Advances (Medium / Large Scale Industries, Trading etc) |
|
Up to Rs. 2.00 lakh |
PLR |
14.00 |
PLR |
13.00 |
|
Above Rs. 2.00 Lakh
(As per Rating) |
|
|
|
|
|
AAA |
PLR + 0.50 |
14.50 |
PLR + 0.50 |
13.50 |
|
AA (+) |
PLR + 1.00 |
15.00 |
PLR + 1.00 |
14.00 |
|
AA |
PLR + 1.50 |
15.50 |
PLR + 1.50 |
14.50 |
|
AA (-) |
PLR + 2.00 |
16.00 |
PLR + 2.00 |
15.00 |
|
A (+) |
PLR + 2.50 |
16.50 |
PLR + 2.50 |
15.50 |
|
A (-) |
PLR + 3.00 |
17.00 |
PLR + 3.00 |
16.00 |
13. |
Super Secured Loan Scheme |
Fixed |
12.50 |
Fixed |
11.00 |
14. |
Ratnatray Professional |
PLR |
14.00 |
PLR |
13.00 |
15. |
Personal Loan Scheme |
Fixed |
16.00 |
Fixed |
15.00 |
16. |
Sanjivani Mortgage Scheme |
PLR + 0.50 |
14.50 |
PLR + 0.50 |
13.50 |
17. |
Ratna Trade Scheme |
PLR + 0.50 |
14.50 |
PLR + 0.50 |
13.50 |
18. |
Car Loan |
|
|
|
|
|
New |
Fixed |
12.50 |
Fixed |
11.00 |
|
Secondhand
|
Fixed |
14.00 |
Fixed |
14.00 |
19 |
Consumer Loans (Purchase of TV / Furniture / Consumer goods etc.) |
PLR + 2.00 |
16.00 |
PLR + 3.00 |
16.00 |
20. |
Purchase of Two wheelers |
Fixed |
15.00 |
Fixed |
14.00 |
21 |
Personal Loans (Other than scheme) |
Fixed |
16.00 |
Fixed |
16.00 |
22. |
Bills Discounting under L/Cs |
(Negotiation with HO) |
Min
11.00 |
Negotiation with HO |
23 |
Advance against Shares/Debentures
IPO Finance |
PLR -0.50 |
13.50 |
PLR |
13.00 |
24. |
Forced Loans/Overdue Overdrafts |
Fixed |
19.75 |
Fixed |
18.00 |
Sr. No |
Particulars |
Revised Interest Rate
w.e.f 02.02.2009 |
Revised Interest Rate
w.e.f.20/07/2009 |
25 |
Temporary Overdrafts (TOD) |
Fixed |
18.50 |
Fixed |
18.00 |
26. |
Secured Overdrafts (EOD) |
Applicable rate + (plus) 2%p.a. or
PLR+ (plus) 2% whichever is higher |
Applicable rate + (plus) 2%p.a. or
PLR+ (plus) 2% whichever is higher |
27. |
Staff Loans
|
|
|
|
a) |
Clean Loan |
PLR |
14.00 |
PLR |
13.00 |
b) |
Consumer Loan |
PLR |
14.00 |
PLR |
13.00 |
c) |
Clean Cash Credit |
|
10.50 |
Fixed |
10.50 |
d) |
Vehicle Loan |
|
9.00 |
Fixed |
9.00 |
e) |
Housing Loan
(Old Scheme) |
|
|
|
|
|
Up to Rs. 1.00 Lakh |
|
5.00 |
Fixed |
5.00 |
|
Above Rs. 1.00 Lakh |
|
9.50 |
Fixed |
9.50 |
|
Housing Loan
(New Scheme) |
|
|
|
|
|
Up to Rs. 1.10 Lakh |
|
5.00 |
Fixed |
5.00 |
|
Above Rs. 1.10 Lakh to Rs. 5.00 lakh |
|
10.00 |
Fixed |
10.00 |
|
Above Rs. 5.00 lakh |
|
11.00 |
Fixed |
11.00 |
In the Board Meeting dated 13.07.2009 a note regarding ROI to be charged in respect of Bills discounting under Letter of credit was discussed at length. Considering that the surplus funds are being invested @ 3.50% in repo / call money, it was decided to fix benchmark rate for the facility @ 7.50%. Further, Managing Director & CEO. has also been empowered to vary this benchmark rate to 0.75% above the cost of Deposit.
On enquiry it is observed that Banks are now a days charging interest within the range of 6.25% to 6.75% for Bills discounted under Letter of credits. The position of surplus funds still continues and deployment thereof will require some more time.
In view of the above, the Board is requested to take a view regarding benchmark rate to be applied in respect of Bills discounting under Letter of credit.
