Key features

Interest Rate and Charges

Give a Missed Call on 84448 84448

Give a Missed Call on 84448 84448

 

DescriptionMinimumMaximum
Loan Amount ₹ 10,000 ₹ 15,00,000
Loan Tenure 6 months 12 months

 

Interest rate range: (July 2016 to September 2016 Q2 (FY 16-17))

 

Minimum Maximum Mean Penal Interest
10.50% 16.50% 13.31% 6%#

 

#Penal Interest is not applicable for agricultural loans up to ₹ 25,000 per customer.

 

NOTE:

  • It includes various categories like loan amount, customer relationships etc.
  • Mean rate = Sum of rate of all loan accounts / Number of all loan accounts.

 

Charges:

 

ParticularsTwelve months productSix months product
Processing Fees 1.0% of loan amount 1.0% of loan amount
Foreclosure charges 1%, If a/c is closed within 11 months 1%, If a/c is closed within 5 months
NIL, If a/c is closed after 11 months NIL, If a/c is closed after 5 months
Documentation Charges ₹ 199 NA
Renewal Fees

For loans:

  • Upto ₹ 1 Lacs - ₹ 250
  • Greater than ₹ 1 lacs – upto ₹ 2 Lacs - ₹ 350
  • Greater than ₹ 2 Lacs - ₹ 500
Stamp Duty and other statutory charges As per Applicable laws of the State

 

Note: Service Tax and other taxes are also applicable.

The above fees will not be applicable for agricultural loans up to ₹ 25,000 per customer.

 

Annual Percentage Rate:

 

The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and processing fee.

The APR calculator does not include charges like stamp duty, Prepayment charges etc.

To calculate the same, please click here to download the APR calculator.

 

* Terms and Condition apply