|Type of Loan
||Applicable Pricing For PSL cases
||Applicable pricing for Non-PSL cases
|LAP (Income Based, GTP, GPR)
||MCLR + 2.75%= 11.35% p.a.
||MCLR +3.00% = 11.60% p.a.
Compounding of interest rate would take place as follows:
- Monthly compounding when the borrower has opted for a monthly annuity method or a lump sum method
Quarterly compounding when the borrower has opted for quarterly annuity method
Half-yearly compounding when the borrower has opted for half-yearly annuity method
Annual compounding when the borrower has opted for annual annuity method
Marginal Cost Based Lending Rate - 8.60%
MCLR Reset frequency for Loan against property - Half Yearly
Base Rate - 9.40%
MRR - 14.25%
BPLR - 17.15%
Customers who have availed disbursement or received a sanction prior to March 31, 2016 will continue to operate on base rate. Existing customers can get in touch with our customer care, if they wish to switch to MCLR.