* Revision in interest rate is effective from 01.07.2008 for
all existing and new advances linked to BPLR under Floating Rate
method including Export Credit / Gold Card Scheme, other Structured
Loans, SHG Loans, SSI Sector, Advances to Third Parties against
our Deposit, Rupee Loan to third parties against FCNR Deposits
etc.
Crop Loans including Agri Jewel Loan upto Rs.3 lakhs will continued at 7.00% p.a.
For Export Advances the rate of interest will be 250 bps below BPLR.
The existing guideline to quote not more than BPLR for credit limits (of all Working Capital and Term Loans) to a single borrower enjoying a consolidated / Total credit limits upto Rs.2.00 lakh should continue to be complied. This ceiling of "not more than BPLR" is NOT applicable for consumer, personal loans.
All advances above Rs.2.00 lakh and consumer / personal loans irrespective of size are to be priced with the applicable full spread except wherever finer pricing is sanctioned / approved by the competent Authority.
The existing Fixed Rate advances will continue at the contracted rate till the contracted period or reset date whichever is earlier.
Under Fixed Rate wherever re-set clause is stipulated as terms of sanction the pricing may be reviewed to sufficiently in advance and taken up with sanctioning Authority.
Fixed Rates for new advances will be determined based on the revised BPLR, prevailing on the date of DISBURSEMENT unless the Sanction Ticket stipulates that the ROI prevailing on date of sanction is applicable.
For all general advances other than Home loan the delegation to price at Fixed Rate continues to be at the level of Executive Director and above upto their credit sanctioning powers.
TENOR PREMIUM (TP): Tenor Premium (TP) of 0.50%
should be added to all Term Loans with total contracted maturity
of 36 MONTHS AND ABOVE inclusive of holiday / moratorium period,
if any. For short tenor loans upto 35 months maturity Tenor Premium
will not be loaded.
SPREAD : The maximum spread (Credit Risk Premium)
continues to be 4.0% above the BPLR for general advances and at
2.00 % for Agri. advances above Rs.3 lakhs / SSI/SME (priority
advances) as hitherto. The penal interest rate continues to be
the same as per the extant guidelines. For various products, the
existing product specific spread will continue.
NOTICE TO ALL CUSTOMERS
NOTICE IS HEREBY GIVEN TO ALL CUSTOMERS, THAT
1) THE BENCHMARK PRIME LENDING RATE OF OUR BANK IS RAISED BY 0.75%
FROM THE EXISTING RATE OF 12.50% TO 13.25%, PER ANNUM.
2) THE SPREAD ( MAXIMUM 4.0% ) / TENOR PREMIUM (0.50%) / PENAL
INTEREST (MAXIMUM 2.0%) ARE APPLICABLE AS PER EXTANT GUIDELINES.
3) THIS IS APPLICABLE FOR ALL EXISTING AND NEW ADVANCES UNDER
FLOATING RATE SANCTIONS AND APPLICABLE FOR NEW ADVANCES SANCTIONED
UNDER FIXED RATE.
4) TENOR PREMIUM WILL BE APPLICABLE ON ALL TERM LOANS WITH
CONTRACTED MATURITY OF 36 MONTHS AND ABOVE.
5) FOR EXPORT ADVANCES THE RATE OF INTEREST WILL BE 250 BPS
BELOW BPLR
6) CROP LOANS INCLUDING AGRI JEWEL LOANS UPTO RS.3 LAKH WILL
CONTINUE TO BE PRICED @ 7.00% PER ANNUM
7) THE ABOVE REVISIONS ARE EFFECTIVE FROM 01.07.2008


Export Credit
|
PRE-SHIPMENT
CREDIT
|
Revised
|
Actual
|
|
Upto 180 days
|
BPLR
minus 2.50
|
10.75%
|
|
Beyond 180 days & upto 270 days (if
extension is granted)-
|
BPLR
+0.50
|
13.75%
|
|
|
BPLR
minus 2.50
|
10.75%
|
|
POST-SHIPMENT CREDIT
|
|
On demand bills for
transit period
( as specified by FEDAI)
|
BPLR
minus 2.50
|
10.75%
|
|
Usance Bills
(For total period comprising usance period of export bills, transit period as specified
by FEDAI and grace period wherever applicable).
a) Upto 90
days
|
BPLR
minus 2.50
|
10.75%
|
|
|
BPLR
|
13.25%
|
|
c) Against incentives receivable from
Government covered by ECGC guarantee (upto 90 days.)
|
BPLR
minus 2.50
|
10.75%
|
|
d) Against
undrawn balance (upto 90 days)
|
BPLR
minus 2.50
|
10.75%
|
|
e)
Against retention money (for supplies portion only) payable within one year
from the date of shipment (Upto 90 days)
|
BPLR
minus 2.50
|
10.75%
|
|
Export Credit Not
Otherwise Specified (ECNOS) – PC
|
Revised
|
Actual
|
|
Rupee - Packing Credit
|
|
|
|
If overdue PC is adjusted out of export proceeds
after 360 days:
|
|
|
|
a. Upto 180 days
|
BPLR minus 2.50
|
10.75%
|
|
b.
From 181 days to 270 days (If extension for PC is granted as per guidelines)
|
BPLR
+ 0.50
|
13.75%
|
|
c. From the 181st day (when
extension is not granted) / From the 271st day (irrespective of
extension being given or not) till date of adjustment of PC with export
proceeds.
|
BPLR
+ 4.00
|
17.25%
|
|
Wherever PC is adjusted out
of Domestic Funds but not out of export bill
proceeds (including the amount received from ECGC under
settlement of claim) (From
the first day of advance)
|
BPLR
+ 4.00 + 2.00
|
19.25%
|
|
Against DDB / Incentive Receivable from
Government covered by ECGC Guarantee.
Beyond 90 days till date of
payment
|
BPLR
+ 4.00
|
17.25%
|
|
If party is not eligible
for incentive (from the first day of
advance)
|
BPLR
+ 4.00 + 2.00
|
19.25%
|
|
Export Credit Not Otherwise
Specified (ECNOS) P C -ECNOS (PC)
|
BPLR
+ 4.00
|
17.25%
|
|
Export Credit Not
Otherwise Specified (ECNOS) – Post shipment
|
|
Classification of Overdue
Export Bills
|
|
Beyond Normal
Transit period in the case of demand bills or beyond the Notional Due Date in
the case of usance bills.
* Upto first 15 days from the NTP/NDD
(within the time allowed to transfer to ADOVEXBIR)
|
BPLR + 1.00
|
14.25%
|
|
* Beyond 15 days from the NTP/NDD and for
ADOVEXBIR account/ Other Overdue Post shipment receivables like Duty
Drawback.
|
BPLR + 4.00
|
17.25%
|
|
If adjusted from Rupee
Resources (for overdue period)
|
BPLR
+4.00+2.00
|
19.25%
|
|
Against incentives
receivable from Government covered by ECGC guarantee for post shipment
advances
a. Beyond 90 days till date
of payment
b. If party is not eligible
for incentives (from the date of advance)
|
BPLR + 4.00
BPLR
+4.00+2.00
|
17.25%
19.25%
|
|
Against undrawn
balance-beyond 90 days
|
BPLR
+ 4.00
|
17.25%
|
|
Against retention money
(for supplies portion only) payable within one year from the date of shipment
– beyond 90 days.
|
BPLR
+4.00
|
17.25%
|
|
Deferred Credit for period
beyond 180 days with or without refinance from EXIM Bank (from the date
of advance)
|
BPLR
+ 4.00
|
17.25%
|
|
Interest rate for Gold Card Exporters
|
|
|
|
PC upto 180 days
|
BPLR - 2.50%
|
10.75%
|
|
FBP -DP&DA (Usance upto
365 days)
|
BPLR - 2.50%
|
10.75%
|
|
FBN -DP&DA (Usance upto
365 days)
|
BPLR - 2.50%
|
10.75%
|
|
Interest rate for Cashew Exporters
|
|
PC upto 180 days
|
BPLR - 2.50%
|
10.75%
|
|
FBP upto 90 days
|
BPLR - 2.50%
|
10.75%
|
|
FBN upto 90 days
|
BPLR - 2.50%
|
10.75%
|