| Interest Rates & Charges* |
|---|
| Sr. no |
Product |
Rate of Interest (p.a.) |
| 1 |
24x7 Loan Against Securities (Digital) |
| Repo rate |
Spread over repo rate |
Effective Interest Rate |
Reset |
| 6.50% |
4.99% |
11.49% p.a |
Quarterly Revision or As decided by
Bank, whichever is earlier |
- Repo Rate 6.50%
- Repo Rate Reset frequency - 3 months or As decided by Bank, whichever is earlier.
- The Bank is free to decide the spread over the Repo Rate. The spread may undergo a change during the tenure of the loan.
- Customers who have already availed disbursement or received a sanction prior to October 1, 2019 will continue to operate on MCLR. Existing customers can get in touch with our customer care, if they wish to switch to Repo Rate.
|
| 2 |
Loan against Securities (Physical) |
| Repo rate |
Spread over Repo Rate |
Effective Interest Rate |
Reset |
| 6.50% |
5.00% – 7.25% |
11.50% - 13.75% |
Quarterly Revision or As decided by
Bank, whichever is earlier |
|
|
Renewal Charges
|
| Sr. no |
Product |
Charges |
| 1 |
Loan Against equity mutual fund |
Rs. 3000/- plus GST
|
| 2 |
Loan Against debt mutual fund |
0.1% of sanctioned loan amount or Rs. 5000/- which ever is lower + GST
|
| 3 |
Loan Against Listed bonds/Non Convertible Debentures |
0.1% of sanctioned loan amount or Rs. 5000/- which ever is lower + GST
|
| 4 |
Loan Against Life Insurance Policies. |
Rs. 3000/- plus GST
|
| 5 |
Loan Against equity Shares |
Rs. 3000/- plus GST
|
|
Other Charges
|
| Sr. no |
Type |
Charges |
| 1 |
Processing Fee Charges |
Upto 0.50% of sanctioned loan amount or Rs 2000/- whichever is higher plus GST
|
| 2 |
Penal Charge |
- Financial Default*: 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate not exceeding Rs. 1,00,000/- per instance)
- There shall be no capitalisation of Penal Charges.
- The said Penal Charges will be subject to GST as per applicable law on Goods and Service Tax in India, and GST will be charged separately.
- *Financial Default includes all types of payment or financial defaults/irregularities with respect to your Loan Account.
|
|
3
|
NEFT |
As applicable at Bank Level* |
|
4
|
RTGS |
As applicable at Bank Level* |
|
5
|
Pledge Charges * |
As applicable
|
|
6
|
Charges for changing from fixed to floating rates of interest |
NA
|
|
7
|
Charges for changing from floating to fixed rates of interest |
NA
|
|
8
|
Prepayment Charges |
NA
|
|
9
|
No Due Certificate |
NA
|
|
10
|
Solvency Certificate |
NA
|
Charges for other service are levied as applicable to normal current account
With effect from 1st July 2017, Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
For further details, please click here For Interest Rates and Charges
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