NEW ERA OF FIXED & FLOATING RATE OF INTEREST & GRADATION
● Bank has shifted to floating and fixed rate of interest w.e.f. 1st January, 2014.
● Floating rate of interest is linked to Bank's PLR. BANK'S PLR is 13.00% w.e.f. 1st January, 2014.
● Bank has also started Grading of borrowers whose exposure is above Rs. 25 Lacs w.e.f. 1st
January, 2014.
● Gradation will be applicable to borrowers who have applied for business loan and are having income
from business and profession.
● Only Floating rate of interest is applicable to loans & advances under Gradation.
● Borrowers under Gradation will be graded at the end of December each year and revise Rate
of Interest as per new grade will be applicable w.e.f. 1st January of subsequent year.
● Borrowers who has opted for Fixed rate of interest can enjoy the same for first 5 years from
the date of sanction, after completion of 5 years the floating rate of interest as on that date
will be applicable.
CHART OF FLOATING RATE OF INTEREST FROM 1/5/2015 FOR NEW TERM LOANS WHERE GRADATION / CREDIT RATING SYSTEM IS APPLICABLE ( FIXED ROI IS NOT APPLICABLE UNDER GRADATION)
CATEGORY |
MANUFACTURERS / SERVICE PROVIDERS TRADING CONCERNS / CONTRACTORS ETC. |
BUILDER & DEVELOPERS |
AAA |
PLR - 0.50% = 12.50% |
PLR + 2.50% = 15.50% |
AA |
PLR + 0.00% = 13.00% |
PLR + 3.00% = 16.00% |
A |
PLR + 0.50% = 13.50% |
PLR + 3.50% = 16.50% |
B |
PLR + 1.00% = 14.00% |
PLR + 4.00% = 17.00% |
C |
PLR + 1.50% = 14.50% |
PLR + 4.50% = 17.50% |
D |
PLR + 2.00% = 15.00% |
PLR + 5.00% = 18.00% |
CHART OF FLOATING RATE OF INTEREST FROM 1/1/2015 FOR CASH CREDIT HYPOTHECATION LOANS WHERE GRADATION / CREDIT RATING SYSTEM IS APPLICABLE( FIXED RATE OF INTEREST IS NOT APPLICABLE UNDER GRADATION )
CATEGORY |
MANUFACTURERS / SERVICE PROVIDERS TRADING CONCERNS / CONTRACTORS ETC. |
BUILDER & DEVELOPERS |
AAA |
PLR - 1.00% = 12.00% |
PLR + 2.50% = 15.50% |
AA |
PLR - 0.75% = 12.25% |
PLR + 3.00% = 16.00% |
A |
PLR - 0.50% = 12.50% |
PLR + 3.50% = 16.50% |
B |
PLR + 0.00% = 13.00% |
PLR + 4.00% = 17.00% |
C |
PLR + 1.00% = 14.00% |
PLR + 4.50% = 17.50% |
D |
PLR + 2.00% = 15.00% |
PLR + 5.00% = 18.00% |