Interest Rates on Loans*

Floating rate Loans linked to the External benchmark rate are calculated as follows:

• The Benchmark rate is the RBI Repo Rate (currently 6.50%)
• The Bank charges an additional rate over the Benchmark Rate, called spread, to arrive at the final lending rate
• The lending rate for existing customers is reset once in three months or as decided by the Bank, whichever is earlier.
• The bank reviews the benchmark rate and the applicable spread at the beginning of every month. These rates are applicable till the next review