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Interest Rates
Savings Account for Domestic / NRE / NRO Savings Account
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Marginal Cost of Funds Based on Lending Rates (MCLR)
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Fixed Deposit
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Recurring Deposits
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Affordable Housing Loan
| Segment | Effective Rate Of Interest* (p.a.) linked to External Benchmark Rate** |
|---|---|
| Salaried | 9.99% onwards |
| Self Employed | 10.99% onwards |
| *Fixed for 37 months and floating thereafter | |
| ** Floating rates are linked to 10-year Government of India Securities Yield (G-Sec) external benchmark rate. G Sec benchmark rate is arrived based on 3 months’ average yield of 10-year Government of India bond curve | |
| Rates offered to customer during the period Jan’2024 to Mar’2024 |
| Type of Interest | Rate |
|---|---|
| Min. Rate of Interest | 9.99% |
| Max. Rate of Interest | 18.50% |
| Mean Interest Rate | 14.66% |
| Annual Percentage Rate (APR) | 14.84% |
Loan Against Gold
Rates offered to the customers during the period JAN’2024 to MAR’2024
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 12.99% |
| Max. Rate of Interest | 23.00% |
| Mean Interest Rate | 16.32% |
| Annual Percentage Rate (APR) | 18.20% |
Micro Loans
Rates offered to customer during January 2024 to March 2024.
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 25.25% |
| Max. Rate of Interest | 26.00% |
| Mean Interest Rate | 25.43% |
| Annual Percentage Rate (APR) | 27.01% |
| Average Processing fees | 1.49% |
Small Business Loans
| Loan Amount | EFFECTIVE RATE OF INTEREST* (P.A.) LINKED TO EXTERNAL BENCHMARK RATE** |
|---|---|
| 1.5 Lakhs – 50 Lakhs | 13.5% Onwards |
Rates offered to customer during the period Jan’2024 to Mar’2024
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 13.50% |
| Max. Rate of Interest | 24.00% |
| Mean Interest Rate | 19.17% |
| Annual Percentage Rate (APR) | 19.35% |
Note: *Fixed for 37 months and floating thereafter.
**The external benchmark will be 10 Year Government of India Securities Yield arrived based on 3 months daily average.
| Over Draft Against Property |
|---|
Rates offered to customer during the period Jan’2024 to Mar’2024
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 12.50% |
| Max. Rate of Interest | 21.00% |
| Mean Interest Rate | 16.03% |
| Annual Percentage Rate (APR) | 16.07% |
Institutional Finance
| Loan Amount | Effective ROI%* (P.A.) linked to External Benchmark rate** |
|---|---|
| 1 Crore – 15 Crores | 11% onwards |
| Interest Rates | Effective ROI%* (P.A.) linked to External Benchmark rate** |
|---|---|
| Minimum Rate of Interest | 12.90% |
| Maximum Rate of Interest | 13.25% |
| Mean Rate of Interest | 13.08% |
| Annual Percentage Rate (APR) | 13.22% |
Supply Chain Finance
| Interest Rates | ROI |
|---|---|
| Minimum Interest Rate | 11% p.a. |
| Maximum Interest Rate | 20% p.a. |
| Credit Period | 30 – 120 days |
Small Business Loan (Unsecured)
Rates offered to customer during the period Oct’2023 to Dec’2023
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 18% |
| Max. Rate of Interest | 18% |
| Mean Interest Rate | 18% |
| Annual Percentage Rate (APR) | 19.85% |