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RETAIL LOAN SCHEMES : Rate Of Interest

 

The following MCLR rates are applicable for new loans sanctioned w.e.f. 04.01.2017 to next review.

 

S. No

TENOR

RATE OF INTEREST (%)

1.

Overnight MCLR

8.60

2.

One Month MCLR (More than overnight upto 1 month)

8.60

3.

Three Month MCLR (More than 1 Month and upto 3 Months)

8.65

4.

Six Month MCLR (More than 3 Months and upto 6 Months)

8.70

5.

One Year MCLR (More than 6 Months and upto 1 Year)

8.75
6 Three Year MCLR (More than 1 Year and upto 3 Years)  8.95
7 Five Year MCLR (More than 3 Years)  9.10 

1. HOUSING LOANS

 

Loan Amount

Rate of Interest (p.a.)

Upto Rs.75.00 lacs

One Year MCLR

Above Rs.75.00 lacs 

One Year MCLR + 0.25%

 

2. AUTO LOANS

 

Category

Rate of Interest (p.a.) (All Tenures)

New Vehicles Four Wheeler

One Year MCLR + 0.25%

New Vehicles Two Wheeler

One Year MCLR + 2.00%

Old Vehicles One Year MCLR + 3.00%



 




 

 

3. EDUCATION LOANS

 

a) For higher studies in India & abroad:

 

 


Category

Loan up to Rs.4 Lac

Loan Above Rs.4 Lac & up to Rs.7.50 Lac

Above Rs.7.50 Lac

General Public

One Year MCLR +2.00%

One Year MCLR +2.00%

One Year MCLR +1.50%

  Concession in Interest
(if Collateral in addition to guarantee is given)

 

No Concession

0.50%

 

No Concession

  • Additional concession of 0.50% for girl students
  • Additional concession @1% to all borrowers on account of service of interest during moratorium period.
    *All the concessions are subject to charging of minimum of One Year MCLR of the Bank.

 

b)  For Skill Loan Scheme:


Category

Rate of Interest (p.a.)

General Public

One Year MCLR  + 3.00%

 

 

4. PSB EXECELLENCE-EDUCATION LOAN SCHEME FOR PREMIER INSTITUTIONS

(For students of IIMs, IITs and ISB (Hyderabad)

 

 One Year MCLR + 1%  at present. (No other concession is applicable).

 

5. CONSUMER / COMPUTER LOAN

 

Category

Rate of Interest (p.a.)

Salaried class/pensioners having their salary/pension credited with bank

One Year MCLR  + 2.75%

Others

One Year MCLR  + 3.50%

 

6. PERSONAL LOANS TO SALARIED CLASS & PENSIONERS

 

Category

Rate of interest(p.a.)

For Salaried Class

i.      Where deduction of installment from salary at source is available or salary disbursed through our branches:-
One Year MCLR + 4.75%  presently with monthly rests.
 ii.      In all other cases:-

One Year MCLR + 5.25%  p.a. presently with monthly rests.

 

For Pensioners

One Year MCLR  + 4.00% , presently with monthly rests.

 

7. DOCTOR SPECIAL LOAN SCHEME

 

CATEGORY

RATE OF INTEREST (P.A.)

Upto Rs.50 lacs

One Year MCLR  + 2.50%

Above Rs.50 lacs & Upto Rs.1Crore

One Year MCLR  + 2.75%

Above Rs.1crore & Upto Rs.2 Crore

One Year MCLR  + 3.00%%

 

8. SUKHMONEY SCHEME-(Reverse Mortgage Loan Scheme)

 

The rate of interest will be at fixed rate subject to minimum of bank’s One Year MCLR with reset clause every five years

 

CATEGORY

RATE OF INTEREST (P.A.)

Loan amount up to Rs.20 lacs

One Year MCLR +2.00%

Loan amount above Rs.20 lacs

One Year MCLR + 2.50%

   

 

9. PSB HOUSING LOAN TOP UP SCHEME.

Rate of Interest would be 100 basis points over and above the ROI charged on the existing housing loan.

 

 

10. PSB ‘GROW & PAY’ HOUSING LOAN SCHEME.

 

   The Rate of Interest for loans sanctioned under this scheme would be as charged on housing loans.



11. SB OD SCHEME (FOR OVER DRAFT FACILITY).

Rate of interest (per annum): One Year MCLR +4%

 

12. LOAN AGAINST PROPERTY (LAP).

 

   One Year MCLR+ 2.25% at present

 

13. COMMERCIAL VEHICLE SCHEME

New vehicle

  • For Existing units – As per credit rating for MSME advances.
  • For new Enterprises – As applicable to MSME advances credit rating -3-.
  • Concession of interest on new vehicles @0.50% in the case where margin is above 40% of the total cost of the vehicle subject to minimum of Bank’s One Year MCLR.

14. Gold Loan Scheme

 

i)    For Productive Purpose (Agriculture): Rates as per policy of rates for agricultural loans.
ii)   For Productive Purpose (Other than Agriculture): One Year MCLR+3%
iii)  For Non-Productive Purpose: One Year MCLR + 4%
iv)  Staff (Non-productive purpose): One Year MCLR+ 3%

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