PURPOSE |
INTEREST RATE (% p.a.) |
A. FARM SECTOR |
|
I. Short Term Loans |
xxx |
1.Crop/Pragathi KCC/Rythu Mitra Groups / Joint Liability Groups / JL Agriculture
i. During Interest Subvention Period |
xxx |
a) Upto & inclusive of Rs. 3.00 lakhs |
7.00 |
b) Above Rs. 3.00 lakhs |
14.50 |
ii. Beyond Interest Subvention Period |
|
a) Upto & inclusive of Rs.25.000/- |
11.50 |
b) Above Rs.25,000/- &upto & inclusive of
Rs. 50,000/- |
11.50+2.00% OD interest |
c) Above Rs.50000/- & upto & inclusive of
Rs.1.00 lakh |
12.50+2.00% OD interest |
d) Above Rs.1.00 lakh & upto & inclusive of
Rs.3.00 lakhs |
13.50+ 2.00% OD interest |
e) Above Rs. 3.00 lakhs |
14.50+2.00% OD interest |
2. Produce Loans |
xxx |
a) Upto & inclusive of Rs.2 lakhs |
10.50 |
b) Above Rs.2.00 lakhs |
11.00 |
II. Agricultural Term Loans |
Xxx |
1. Agriculture Term Loans & Allied Activities |
|
a) Upto & inclusive of Rs.50000/- |
13.00 |
b) Above Rs.50000/- |
13.50 |
2. APMIP |
13.00 |
3. Pragathi Capital Investment Scheme for Organic Farming |
13.00 |
4. Pragathi Agri Business & Clinic Centres |
14.00 |
5. Pragathi Land Purchase Scheme |
As applicable to Agl. term loans |
6.Rescheduled Loans |
As applicable to Agl. Term loans |
The above rates under Agriculture Term Loans are applicable to all Agriculture Term Loans other than those specifically mentioned. |
B. INDIRECT FINANCE TO AGRICULTURE |
|
a) Finance to APFSCS i) ST/MT/LT |
10.50 |
| ii) ODC/ODj/ODH |
13.00 |
b) Loans/Working Capital limits to Dealers of inputs to Agriculture (fertilizers, pesticides, seeds, minor and micro irrigation equipment, etc.) |
As under C (for Non Farm sector advances)
|
| C. NON FARM SECTOR |
|
1. Retail Trade, Small Business, Small Scale Industries, SME Sector, Road Transport Operators, GCC etc. (Working Capital & Term Loans) |
|
A) Upto & inclusive of Rs.50000/- |
13.00 |
B) Above Rs.50000/- & Upto & inclusive of Rs.1.00 lakh |
13.50 |
C) Above Rs.1 lakh & Upto & inclusive of Rs.2.00 lakhs |
14.00 |
D) Above Rs.2.00 lakhs |
15.00 |
The above rates under Non Farm Sector are applicable to both Priority and Non Priority Sector advances other than those specifically mentioned. |
D. OTHER PRIORITY SECTOR LOANS |
xxx |
1. Self Help Group Loans [SHGs] (irrespective of any amount) |
14.00 |
2. Education Loans |
xxx |
A) Upto & inclusive of Rs.4.00 lakhs |
13.00 |
B) Above Rs.4.00 lakhs |
14.50 |
3. Housing Loans to public (incl. under Gruhini, Rajiv
Gruhakalpa, Pragathi Farm House, Individual Housing
Loans under Indiramma Schemes) |
xxx |
A) Upto repayment period of 5 years |
10.50 |
B) Above 5 years & upto 10 years |
11.00 |
C) Above 10 years |
11.50 |
4. Vehicle Loans (2/3/4 wheelers) to Professional & Self
Employed persons/Business people, Salaried persons |
xxx |
A) Upto Rs.3.00 lakhs |
14.00 |
B) Above Rs.3.00 lakhs |
15.00 |
5) Pragathi Doctors’ Plus |
11.00 |
6) Pragathi Solar Home Lighting/Heating System |
|
|
11.00 |
|
5.00 |
7) Pragathi Swarojgar Credit Card Scheme |
13.00 |
8) SGSY/ Rajiv Yuvasakthi/Other Govt sponsered schemes |
As applicable to purpose of loan & quantum |
9) Loans under DRI |
4.00 |
E. NON PRIORITY SECTOR LOANS |
xxx |
1) Loans/OD against approved securities like NSCs, LIC policies |
14.00 |
2) Personal Banking Loans to employees |
xxx |
| a)Employees drawing their salaries through our Bank |
15.00 |
| b) Employees drawing their salaries through other Banks |
18.00 |
3) Branch Premises loans |
14.00 |
4) Jewel Loans (non agrl) |
14.00 |
5) BGs paid (incl. OD interest) |
18.00 |
6) Commercial complexes/School or College buildings, etc. |
18.00 |
7) Multi Purpose Mortgage Loans |
16.00 |
8) Pragathi Rent Plus |
16.00 |
8) CDD – Discount to be collected by way of interest
(both priority & non priority) |
Xxx |
a) for a minimum period of 10 days @ |
16.00 |
b) From 11th day (quarterly compounded) @ |
18.00 |
9) Debit Balances in SB/Current A/cs |
18.00 |
10) Loans on Deposits / ODDs |
Xxx |
a) Against Nitya Nidhi Deposit |
11.00 |
b) Against other term deposits |
2.00 above the deposit rate without any ceiling |
c) Against term deposits prematurely withdrawn within 15 days
|
15.00 |
OVERDUE/PENAL RATES OF INTEREST |
|
A. Overdue interest rate over the applicable normal rate |
|
i) DRI Advances |
Nil |
ii) Aggregate Credit Limits not exceeding Rs.5000/- in the case of Non Priority Sector advances and Rs.25000/- in the case of Priority Sector advances |
Nil |
iii) Aggregate Credit Limits exceeding Rs.5000/- in the case of Non Priority Sector advances and Rs.25000/- in the case of Priority Sector advances |
2.00 |
B. Penal interest over the applicable normal rate |
|
i) For non-submission/delayed submission of monthly stock statements to be charged for delayed period |
1.00 |
ii) For diversion of funds |
2.00 |
iii) For non-submission of renewal proposal/ additional information/requirements on the renewal proposal for the delayed period |
|
a) up to 3 months from the date of expiry of credit limit till the date of receipt of renewal proposal |
2.00 |
b) beyond 3 months from the date of expiry of credit limit till the date of receipt of renewal proposal |
2.00 |
c) beyond 30 days from the date of calling for additional information/requirements on the renewal proposal |
2.00 |
C. Loans pre-closed by taking over by other banks/ institutions |
2.0% of loan balance |
D. The total Overdue interest / penal interest to be charged on account of any of the above reasons should not exceed |
2.00 |
i) For determining the size of the limit, the total of original amount of loans/limits sanctioned (not the amount Outstanding)under various credit facilities including Agriculture Jewel Loans by the Bank shall be taken into account.
ii) Whenever any loan is sanctioned, the size of the limit shall be determined at the time of sanction by aggregating the following:
a) Sanctioned amount (original advance) of all the existing short term loans as well as term loans;
b) Existing credit limits, if any not sought to be renewed/enhanced;
c) Amount of fresh loan sanctioned now;
d) Amount of fresh/renewed/enhanced credit limits sanctioned now.
However, the following types of advances shall be excluded for the purpose of aggregation.
a) Loans on Deposits (LDs)/ODDs/OSL(AS)
b) Jewel Loans (General)
c) Premises Loans
d) Non–fund based credit limits
e) Housing Loans
f) SHG loans & g)PBS loans
iii) The size of the credit limit should be determined / revised only at the time of sanction of fresh/renewed/enhanced loans/credit limits. The same should not be revised subsequently merely on account of revision in rates of interest, decrease or increase in the balance outstanding in the loans or closure of some of the credit facilities.
iv) For arriving at rate of interest to be charged on Agriculture Jewel Loans, total limits sanctioned under PKCC and Agriculture Jewel Loans put together shall be taken into account.
