Rates and Charges on Loans
|INTEREST RATES AND SERVICE CHARGES ON LOANS AND ADVANCES|
|BASE RATE 10.25%|
|MCLR||MCLR (w.e.f 01.12.2016)|
|One Month MCLR||9.40%|
|Three Month MCLR||9.60%|
|Six Months MCLR||9.90%|
|One Year MCLR||10.10%|
|Sl no.||Nature of credit facility||Rate of PF|
|(a)||Regular facilities-General (Other than those specifically mentioned below)||Up to Rs 25,000/-||Nil|
|Above Rs 25,000/-||For new credit facilities and enhancement in existing working capital limits (enhanced portion): 1.00% of loan/ limit sanctioned subject to minimum Rs 250/-|
|Above Rs 25,000/-||For renewal of existing working capital limits: 0.50% of limit sanctioned, subject to minimum Rs 250/-|
|(b)||Temporary enhancements/ ad-hoc facilities||0.25% of amount sanctioned without any upper ceiling|
|(c)||UBD (Rubber bills)||Rs 100/- per lakh (subject to minimum Rs 100/-) for fresh as well as renewal.|
|(d)||Housing Loans||0.50% of loan amount|
|(e)||Non funded facilities||50% of rates applicable to funded facilities|
The above rates are the minimum amount of Processing Fee, unless higher amount is stipulated by the sanctioning authority and do not have any upper ceiling on the amount of PF.
Documentation charge should be collected for all fresh advances and for renewal and enhancements where fresh/additional documents are executed, at the rates given in the following schedule.
|Sl. no.||Nature of advance||Amount of credit facility||Documentation charge (Rs)|
|1||General- other than housing loans||Above Rs 10,000/- up to Rs 1.00 lakh||100/-|
|2||Above Rs 1.00 lakh up to Rs.10 lakh||300/-|
|3||Above Rs 10 lakh||500/-|
|4||Housing loans||All amounts||500/-|
Documentation charge should be collected at the time of execution of documents.
The following categories of credit facilities are exempted from levying documentation charges:
|Savings Bank Accounts||Free|
|Current/OD Accounts||Average Monthly Balance (AMB) in the Account||Charges per folio consumed|
|Credit Balance up to Rs. 50,000||Rs. 50 + Tax|
|Credit Balance above Rs. 50,000 & up to Rs. 1 lakh||Rs. 25 + Tax|
|Credit Balance above Rs.1 lakh||Free|
|OD Accounts/ Accounts withe Debit balance||Rs. 50 + Tax|
|Folio charges will be debited at the end of the respective quarter
Minimum folio charges for the first two categories of accounts- Rs. 50 per quarter
|Note: 40 customer transactions constitute one folio|
Service Charges should be levied at the rates specified in the schedule below on all advance accounts except the following:
|Credit Limit (Rs)||Service charge (In Rs)||Credit Limit (Rs)||Service charge (In Rs)|
|Upto 25000||10||Above 10 lakh to 25 lakh||250|
|Above 25000 to 2 lakh||25||Above 25 lakh to 50 lakh||500|
|Above 2 lakh to 3 lakh||75||Above 50 lakh to 75 lakh||750|
|Above 3 lakh to 5 lakh||125||Above 75 lakh to 1 crore||1000|
|Above 5 lakh to 10 lakh||175||Above 1 crore||2000|
Service charges are being debited by CBS automatically at quarterly intervals
In the case of housing loans, additional service charge @ Rs 100/- per Rs 1.00 lakh of loan amount should be collected at the time of disbursal.
Service tax etc: - Service tax, Swachh Bharat Cess and all other applicable taxes and levies should be collected, at the appropriate rates (currently 14.50%) on the amount charged as PF, documentation charges and service charges.
|Nature of BG||Rate of Commission|
|Cash margin - less than 50%||Cash margin - more than 50% and less than 100%||Cash Margin – 100% or More|
|Performance Guarantee||Rs 100/- plus 2% p.a. or part thereof||Rs 100/- plus 1.00% p.a. or part thereof||Rs 100/- plus 0.50% p.a. or part thereof|
|Other than Performance Guarantee||Rs 100/- plus 3% p.a. or part thereof||Rs 100/- plus 1.50% p.a. or part thereof||Rs 100/- plus 0.75% p.a. or part thereof|
Valuation Expenses and Inspection charges are also being levied for advances at actuals.