All interest rates are linked to current Base Rate
1. Other Variable
Rate Personal Segment Loan Products
| Product |
Interest
Rate w.e.f. 01.08.2011(for A/Cs availed after 30.06.2010)
(BR+Spread+TP) |
| Pension Loan - Repayment below 36 months |
BR+3.00+0.50
= 14.25 % |
| Pension Loan - Repayment of 36 months |
BR+3.50+0.50
= 14.75 % |
| Loan against NSC/KVP/LIC Policy/ RBI Relief Bonds (for individuals) |
BR+2.50+1
= 14.25 % |
| Overdraft against NSC/KVP/LIC policy/RBI Relief Bonds (for individuals) |
BR+3.00+1
= 14.75 % |
| IB Rentencash |
BR+4.00+1.50
= 16.25 % |
| Ind Mortgage |
BR+4.75+1.50
= 17.00 % |
| Van/Bus to Educational Institutions |
BR+4.25+1
= 16.00 % |
| Loan to LIC Agents |
BR+5.25+1
= 17.00 % |
| IB Bhavishya Prakash |
BR+2.75+1
= 14.50 % |
| IB Balavidya |
BR+2.75+0.50
= 14.00 % |
Ind
Share – ESOP |
To be considered on case
to case basis |
2. Interset
rates for other Fixed Rate Personal Segment Loan Products
for existing accounts : (fresh
sanctions and for existing accounts reset on or
after 01.08.2011)
| Sl. No. |
Product |
Rate of Interest
|
| 1 |
Reverse Mortgage |
11.25
% |
| 2 |
Salary Loan |
17.25
% |
| 3 |
IB Vehicle Loan
Four Wheelers (New Cars):
Repayment upto 3 years
Repayment above 3 years |
11.75
%
12.00
% |
| |
|
IB Vehicle Loan
Four Wheelers (Used Cars):
Repayment upto 3 years
Repayment above 3 years |
12.75
%
13.00 % |
| |
|
| Nano Car Loan |
12.00
% |
| Two Wheelers |
13.75
% |
| 4 |
Clean Salary Loan to LIC Employees |
17.25
% |
@ Reverse Mortgage Loan interest Rate shall be subject to reset clause - Interest reset at the end of every 5 years from the date of first disbursement based on the Reverse Mortgage Loan interest rates linked to Base Rate prevailing on the dates of reset.
** Vehicle Loan Fixed Rates shall be subject to reset clause - Intereset at the end of every 2 years from the date of disbursement based on the Vehicle Loan interest rates prevailing on the dates of reset.
3
. IBA Educational Loan Scheme
(floating rate only)
| Sanctioned limits |
Interest
Rate w.e.f. 13.07.2011(for A/Cs availed after 30.06.2010)
(BR+Spread+TP) |
| Upto
Rs. 7.50 lakhs |
Base
Rate + TP (1%) + Spread (3.00%)
= 14.25 % |
| Above Rs. 7.50 lakhs |
Base Rate + TP (1%) + Spread (3.25%)
= 14.50 % |
> Concession of 0.50% in applicable rate of interest will be allowed on fresh Educational Loans to
Girl Students for studies in India and Abroad with effect from 1st July 2009. This interest concession will not be applicable to
- Existing female educational loan borrowers
- Educational Loan borrowers who are enjoying finer rate of interest allowed to select premier
educational institutions.
|
