Interest Rate on Lending
Effective date: 1st-September-2023
| SL | Loan Type/Business Category | Lending Rate (Fixed/Floating)* | ||
|---|---|---|---|---|
| 1 | Agriculture and Polli Loan | SMART Rate+ Maximum 2% | ||
| 2 | Corporate Loan | SMART Rate+ Maximum 3% | ||
| 3 | Commercial Loan | SMART Rate+ Maximum 3% | ||
| 4 | SME Loan | SMART Rate+ Maximum 3% | ||
| 5 | CMSME Loan | SMART Rate+ Maximum 3% | ||
| 6 | Retail Loan | |||
| Personal Loan | SMART Rate+ Maximum 3% | |||
| Auto Loan | SMART Rate+ Maximum 3% | |||
| Home Loan | SMART Rate+ Maximum 3% | |||
| Others | SMART Rate+ Maximum 3% | |||
| 7 | Credit Card | 20.00% | ||
| 8 | Packing Credit | SMART Rate+ Maximum 2% | ||
| 9 | Others Loan | |||
| Stimulus/Special Fund Loan | As per related guidelines | |||
| Others | SMART Rate+ Maximum 3% | |||
Note :
- *The minimum rate of the loan/advance is the SMART rate+ 0.01% for any particular product.
- Margin to be considered at business level on the basis of banker customer relationship and quality of security.
- Repricing period of floating/variable rate loan/advance is six month.
- Treasury will inform the SMART Rate every month through mail to upload in the system.