| Interest Rates & Charges* |
|---|
| Sr. no |
Product |
Rate of Interest (p.a.) |
| 1 |
Loan Against Securities |
| Repo rate |
Spread over Repo Rate |
Effective Interest Rate |
Reset |
| 4.00% |
6.50 - 8.75% |
10.50 - 12.75% |
Quarterly Revision |
- Repo Rate 4.00%
- Repo Rate Reset frequency - 3 months.
- The Bank is free to decide the spread over the Repo Rate. The spread may undergo a change during the tenure of the loan.
- Customers who have already availed disbursement or received a sanction prior to October 1, 2019 will continue to operate on MCLR. Existing customers can get in touch with our customer care, if they wish to switch to Repo Rate.
|
|
Renewal Charges
|
| Sr. no |
Product |
Charges |
| 1 |
Loan Against equity mutual fund |
Rs. 1000/- plus GST
|
| 2 |
Loan Against debt mutual fund |
0.1% of sanctioned loan amount or Rs. 5000/- which ever is lower
|
| 3 |
Loan Against Listed bonds/Non Convertible Debentures |
0.1% of sanctioned loan amount or Rs. 5000/- which ever is lower
|
| 4 |
Loan Against Life Insurance Policies. |
Rs. 1000/- plus GST
|
| 5 |
Loan Against equity Shares |
Rs. 1000/- plus GST
|
|
Other Charges
|
| Sr. no |
Type |
Charges |
| 1 |
Processing Fee Charges |
0.15% of the sanctioned loan amount or Rs.1000/- whichever is higher plus GST
|
| 2 |
Penal Interest |
@24% per annum, 2% per month
|
|
3
|
NEFT |
Upto Rs. 10000 - Rs. 2.50 per transaction plus GST as applicable |
| From Rs. 10,000 to Rs. 1 Lakh - Rs.5 per transaction plus GST as applicable |
| Rs. 1 Lakh to Rs. 2 Lakhs - Rs. 15 per transaction plus GST as applicable |
| Above Rs. 2 Lakhs - Rs. 25 per transaction plus GST as applicable |
|
4
|
RTGS |
Rs.2 Lakhs to Rs.5 Lakhs - Rs. 25 per transaction plus GST as applicable
|
| Rs.5 Lakhs and above - Rs.50 per transaction plus GST as applicable |
|
5
|
Pledge Charges * |
As applicable
|
|
6
|
Charges for changing from fixed to floating rates of interest |
NA
|
|
7
|
Charges for changing from floating to fixed rates of interest |
NA
|
|
8
|
Prepayment Charges |
NA
|
|
9
|
No Due Certificate |
NA
|
|
10
|
Solvency Certificate |
NA
|
Charges for other service are levied as applicable to normal current account
With effect from 1st July 2017, Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
For further details, please click here For Interest Rates and Charges
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