Mortgage Loans
| Category | Type of Income | Up to 07 Years ( p.a. ) |
7-10 years ( p.a. ) |
Above 10 years ( p.a. ) |
|---|---|---|---|---|
| Category 01 | Salaried income or professional income | 16.50 % | 17.25 % | 18.50 % |
| Category 02 | Other than Salaried Income (Business and Foreign Employment etc.) | 17.50 % | 18.50 % | N/A |
Personal Loans – Property Mortgage
| Category | Type of Income | Up to 07 Years ( p.a. ) |
7-10 years ( p.a. ) |
Above 10 years ( p.a. ) |
|---|---|---|---|---|
| Category 01 | Salaried income or professional income | 17.75 % | 19.00 % | 19.50 % |
| Category 02 | Other than Salaried Income (Business and Foreign Employment etc.) | 18.00 % | 19.00 % | N/A |
EPF, Personal and Vehicle Loans
| Loan Category | Period / Amount | Revised Rate (p.a) |
|---|---|---|
| EPF Loans | Up to 05 years Up to 10 years Up to 15 years |
17.00 % 17.25 % 18.50 %** |
|
Personal Loans
Private Sector Employees |
Up to 05 years Up to 05 years |
18.50 % 20.50 % |
|
Business Loan (Up to 5 years) Code No 828 |
Against movable or immovable property |
17.50 % |
|
Business Development Loan to individual and corporate clients Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities (Code No 878) Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities (Code No 879) |
Against movable or immovable property Against individual or director personal guarantee |
17.50 % 20.50 % |
| Low Income Group | Up to 05 years | 20.50 % |
| Vehicle Loan | Up to 05 years Up to 07 years |
20.50 % 20.50 % |
| Loan Scheme for Micro, Small and Medium enterprises | 20.50 % | |
| Supplementary Festival / Salary Advance Loan Scheme | 19.50 % |
Variable Interest rates (Floating Interest Rate) – Retail category
Rate applicable up to 31.12.2023. Reprising to take effect from 01.01.2024 onwards.
| Customer Category | Privilege | Gold | Silver | Reprising | ||
|---|---|---|---|---|---|---|
| Group Code | Loan Category | Base Rate(AWPLR) | Minimum Margin based on Risk Rating | |||
| AA and above | A,BBB,BB | B & Below | ||||
| 832 | EPF Loans | 03 months AWPLR | 16.75% | 17.00% | 17.25% | Annually 01st Jan Of each year |
| 833 | Mortgage Loans | 16.25% | 16.50% | 16.75% |
||
| 834 | Personal Loans | 18.50% | 18.75% | 19.00% | ||
| 835 | Personal Mortgage | 16.50% | 16.75% | 17.00% | ||
| 838 | Vehicle Loans (Mortgage) | 20.50% | 20.75% | 21.00% | ||
Floor Rate applicable for retail category and Business category loans is 16.00% p.a.
Maximum Loan Period for variable interest rates
| Loan category | Condition Applied |
| Mortgage Loans | Period restricted based on type of income |
| Personal Loans | Maximum up to 07 years |
| Personal Mortgage | Period restricted to type of income |
| Vehicle Loans(Mortgage) | Maximum up to 07 years |