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The bank has been granting loans to various
categories of borrowers for various purposes
keeping in view the national objective including
priority sector advances such as :
- Small Scale Industries, Artisans, Professionals,
Transport operators, Business
Enterprises
- Housing loans under Kal Housing loan Scheme.
- Education loan for higher study in
india and abroad.
- Loans for consumer durables such as
T.V., Refrigerator.
- Loan for Motor car, two wheeler vehicles.
- Loans to individuals against shares
and debentures/bonds, Govt. Securities.
- Other non-priority sector loans.
- Real estate loans.
- Loans for activities allied to agriculture
for Farm Mechanisation, Poultry, Dairy
etc.
- Guarantees are issued.
- Openint Inland Letters of Credit.
- Arrangements made to open Foreign Letters
of credit.
- Lease rent finance.
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Rate of interest On Advances
(Effective from 27/12//2007)
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Sr. No.
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Aggregate Limit of advances
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Advances Rates
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1.
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Rate of Advances
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12.50%
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2.
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Advances against Government Securities
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10.50%
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3.
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Housing Loan (Reducing Balance) |
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11.00%
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Housing Loan (EMI) |
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10.50% |
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4
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Secured Cash Credit
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13.50%
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5.
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Educational Loan
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9.00%
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6.
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Mircro Finance
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12.50%
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7.
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House Hold goods
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14.00%
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8.
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Computer
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12.50%
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9.
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Vehicle Loan (2 wheeler)
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14.00%
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Vehicle Loan (Other commercial)
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12.50%
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Vehicle Loan (Residential)
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11.50%
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* Interest rates subject to change without
prior notice.
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