Loan Rates

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 07 years

Up to 05 years
Up to 07 years

 

18.50 %
19.50 %

20.50 %
21.00 %

Business Loan (Up to 5 years)

Code No 828
Code No 829

 

Against movable or immovable property
Against individual or director personal guarantor

 

17.50 %
20.50 %

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