Mewar Aanchalik Gramin Bank, Udaipur, Rajasthan, INDIA Mewar Aanchalik Gramin Bank, Udaipur, Rajasthan, INDIA Mewar Aanchalik Gramin Bank, Udaipur, Rajasthan, INDIA
Mewar Aanchalik Gramin Bank, Udaipur, Rajasthan, INDIA
Mewar Aanchalik Gramin Bank, Udaipur, Rajasthan, INDIA
 
INTEREST RATES ON ADVANCES - w.e.f. 01.09.2009
Download Interest Rate on Advances
S. N. Category of Advances Intt. Rate % p.a.
1. For all categories of loans and advances not otherwise specified here-in-after:
a) Up to Rs. 2.00 Lacs
b) Over Rs. 2.00 Lacs

13.00

14.00
2. All Priority Sector and Trade Loans & Advances viz. Agriculture/SSI/Other Priority Sector Loans/Advances given to Retail Traders, Small Businessmen, P&SEP (Composite Loans) and other Trade Sector Loans and Advances (Excluding Schematic Advances which are governed by approved Schemes):
  1. For KCC & Crop Loans:
  2.       i) Up to Rs. 0.50 Lac
          ii) Above Rs. 0.50 Lac and Up to Rs. 2.00 Lacs
          iii) Above Rs. 2.00 lacs & up to Rs. 5.00 lacs
  3. Other than KCC & Crop Loans: -
          i) Up to Rs. 2.00 Lacs
          ii) Above Rs. 2.00 Lacs 
* Note: - As per RBI guidelines, on KCC & ST Crop Loans up to Rs. 3.00 lacs rate of interest be charged @ 7.00% p.a. in all regular A/cs. However, in case of irregular A/cs, the Normal rate of intt., as indicated hereinabove at point no. 2. (a), will be charged.





*9.50
*12.00
*12.50

12.00

13.00
3. Suvidha Loan Business: -
Term Loan: 
Overdraft:

13.00

13.50
4. Mortgage Loan Scheme (Irrespective of loan amount)
Term Loan:
Overdraft:
(Mortgage Loan against Third Party (Parties) Collateral attract 1% additional interest)

13.50
14.00
5. Mewar Bank Krishi Yojana 13.00
6. Education Loan
  1. Education Loan for IIT, IIM & AIMS - Interest Rates 1% lower than the Normal Rate
  2.  Education Loan to Staff & its family members may be considered at 1% lower the Normal Rate
11.00
7. (a) Second hand P/M & Vehicle 16.00
7. (b) Second Hand Commercial Vehicle (Not > 3 Years old Model)             14.50
8. Advances under Self Help Group (SHG)
Advances to SHG
Advances to NGOs /VAS

12.00
12.00
9. Housing Loan up to Rs. 20.00 lacs to Individuals & Commercial loans to staff members including Repairs & Renovation:  
  Repayment Period Floating/variable Intt. Rate % p.a. *
  01 Year to 05 Years

8.00

  Above 05 Years to 10 Years 8.50
  Above 10 Years 9.25
  - Housing Loans over Rs.20.00 lacs (irrespective of the repayment period) 10.00
* Fixed rates of Interest on Housing Loans has already been dispensed with from 01.05.2006 and accordingly the Loans sanctioned/ disbursed on or after 01.05.2006 will carry floating/variable rate of interest revised by the Bank from time to time. The Loans Sanctioned/disbursed prior to 01.05.2006 will continue to be charged at sanctioned rate.  
10.  DRI Advances 4.00
11.  Loan against Gold / Gold Ornaments 15.00
12.  Real Estate Loans:
  1. Loan for construction activity to builders
    (Repayable in three years)
  2. Loan / Term Loans for purchase of
      Commercial properties for own use / renting (with 50% margin on Valuation / Estimate, got done by Bank’s approved Valuer / Architect (KEPT IN ABEYANCE)


19.00

19.00
13.   Car Loan / Equipment Loans to:
  1. Medical Practitioners/Technocrats/Salaried Persons
  2. Non-Salaried Persons
    (Priority Sector Up to Rs. 5.00 Lacs)


10.50
11.00
14.   All type of vehicle /car loan to public
  (Up to Rs. 5.00 Lacs)
12.00
15.   Advances against Govt. Securities
  I.  NSC / KVP / Post Office Time Deposits
     (a) For Loans and Over-drafts to self
     (b)For Loans and Over-drafts to Third Parties
         against collateral of Govt. Securities
  II. Against assignment of Life Insurance Policies to Individuals
      (with minimum 10% margin on Surrender Value)
Margins be kept based on residual maturity period on issue price+ Interest accrued as under: -
NSC / KVP less than 02 Years-            10%
NSC / KVPs for 02 Years and above-   25%
Post Office Time Deposits: On Principal Amt.
Up to 01 Year - 10%, Above 01 Year to 02 Years- 20%
Above 02 Yrs. to 03 Yes.- 30%, Above 03 Years - 40%


12.00
13.50

12.00
16. Consumer Loan to Public / Employees
  1. Consumer Loan / Clean Loan
  2.                                    i) Salaried Person
         ii) Others
  3. Clean Consumer Loan to Institutional Employees Approved by the Bank
  4.                                    i) Where Installments is being deducted by the Branch from
             Salaried Account of the employee
        ii) Where Installment is being paid by the employer directly to the Branch



14.00

16.00

13.00

12.00
17. Advance to Property Owner against Rent/Lease Receivables
 (1% reduction in case of Landlord of Bank’s branches)
15.00
18. Clean Loan / Overdraft and other advances of
similar nature
17.00
19. Advances against Bank’s Term Deposits
 (Including third party advance)
  1. Up to Rs. 10.00 lacs

  2. Above Rs. 10.00 lacs



2.00
(Above the deposit rate)
1.50
(Above the deposit rate)
 
PENAL RATE OF INTEREST
The panel rate of Interest for overdue amount should be charged as outlined here under :-
 
S. N. Type of Advances Penal Rate over the normal rate of intt.
1. All Priority Sector Advances: -
a. Advances up to Rs. 25000/
b. Advances over Rs. 25000/- & up to Rs. 1.00 lacs
c. Advances over Rs. 1.00 lacs

1.00% over the normal rate 
2.00% over the normal rate 
4.00% over the normal rate
2. All Other Advances (Excluding B.P./UBD) 4.00% over the normal rate
3. For Bills Purchased/UBD 
 (a) In case of realization of bills


 (b) In case of dishonour of bill

4.00% over the normal rate of interest from the due date in case of UBD and from VIth day of purchases in case of BP to date of realization.
4.00% over the normal rate of interest from the date of purchase to the date of adjustment.
 
Mewar Aanchalik Gramin Bank, Udaipur, Rajasthan, INDIA