Interest Rates on Loans

Revised Interest Rate Structure

	Revised Interest Rate Structure for FRESH Loans & Advances for General Public
	Particulars	Interest Rates(%) w.e.f. 27.04.2020
1	Agriculture/Horticulture Short Term Crop Loan (including under KCC for Crops & Animal Husbandry & Fisheries)
	a) Upto Rs. 3.00 lakh	7.00
	b) Above Rs. 3.00 lakh to Rs.5.00 lakh	9.00
	c) Above Rs. 5.00 lakh to Rs. 20.00 lakh	9.50
	d) Above Rs. 20.00 lakh	10.00
2	Term Loans for Agriculture/ Horticulture & Allied Activities (including Poultry Venture Scheme, Pump sets, Financing Farmers for Purchase of Vehicles & Financing Farm Machinery Equipments & Agri-Marketing Infrastructure)
	a) Up to and inclusive of Rs.2.00 lakh	8.50
	b) Above Rs.2.00 lakh to Rs. 5.00 lakh	9.00
	c) Above Rs. 5.00 lakh to Rs. 20.00 lakh	9.50
	d) Above Rs. 20.00 lakh	10.00
3	Tractor Loans (including Tillers etc.)
	a) Loans up to Rs. 2.00 lakh	8.50
	b) Above Rs.2.00 lakh to Rs. 5.00 lakh	9.00
	c) Above Rs. 5.00 lakh to Rs. 20.00 lakh	9.50
4	Financing Solar Water Pumping Systems & Solar Equipment Finance Scheme for Individuals	10.00
5	General Credit Card (Revised Scheme)	10.60
6	Self Help Groups (SHGs) Revolving Fund	10.75
	Self Help Groups (SHGs) under NRLM/ others
	a) Loans upto Rs. 3.00 lakh	10.75
	b ) Above Rs.3.00 lakh	11.00
7	Trade (Retail & Wholesale) including Giri Finance Scheme
	a) Up to and inclusive of Rs.10.00 lakh	10.60
	b) Above Rs.10.00 lakh and less than Rs. 100.00 lakh	11.00
	c) Rs. 100.00 lakh & above	10.50 (For CMR 1-7)
		10.75 (For others)
8	JKGB Easy Finance to Small Businessmen	10.60
9	Artisan Credit Card (ACC)	10.60
10	JKGB Weaver MUDRA Scheme	10.60
11	JKGB Handicraft Artisan MUDRA Scheme	10.60
12	J&K Rural Employment Generation Programme (JKREGP) Scheme	10.75
13	Loans under Wazwan Scheme	10.60
14	Micro & Small Enterprises (Manufacturing)(Rural Artisans, SSI & Village Industries)
	a) Up to and inclusive of Rs.10.00 lakh	10.60
	b) Above Rs.10.00 lakh to less than Rs.100.00 lakh	10.85
	c)Rs.100.00 lakh & above	10.50 (For CMR 1-7)
		10.75 (For others)
15	Other Micro & Small Services Sector
	a) Up to and inclusive of Rs.10.00 lakh	10.60
	b) Above Rs.10.00 lakh to less than Rs.100.00 lakh	10.85
	c) Rs.100.00 lakh & above	10.50 (For CMR 1-7)
		10.75 (For others)
16	Arogya Plus - Scheme for Financing Doctors/ Medical Practitioners
	a) Upto & inclusive of Rs.20.00 lakh	10.00
	b) Above Rs.20.00 lakh	11.00
17	Purchase of Generator set for Traders/ Businessmen	10.60
18	Loans for Stone Crushers & Brick Kilns
	a) Up to Rs. 20.00 lakh	11.50
	b) Above Rs. 20.00 lakh to Rs. 50.00 lakh	11.00
	c) Above Rs. 50.00 lakh to Rs. 100.00 lakh	11.00
19	Transport Operators (including Replacement of Old Public Transport under J&K Transport Subsidy Scheme)
	a) For Exisiting customers	9.50
	b) For Fresh connections	10.00
	*The ROI of 9.50% p.a in Commercial Vehicle Finance scheme is applicable to the existing customers having minimum three years of past-proven track record in the Transport activity with our Bank only.
20	2nd Hand Transport Vehicle
	a) Loans for repayment period up to 4 yrs	12.50
	b) Loans for period exceeding 4 yrs	13.00
21	Loans under Machine Finance for Infrastructure Purpose	10.25
22	Education Loans (Primary & Higher Education)
	a) Up to Rs. 5.00 lakh	9.00
	b) Above Rs. 5.00 lakh and up to Rs.10.00 lakh	9.50
	c) Above Rs.10.00 lakh & up to Rs.20.00 lakh	10.50
	(Concession of 0.50% in interest rates under Education Loans for girl students)
23	Housing Loans (including PMAY)
	a) Housing Loans qualifying for Priority Sector Classification	7.50 * / 7.60
	b) Up to Rs. 50.00 lakh (Non priority)	7.70
	c) Above Rs. 50.00 lakh	8.00
	*(* For customers having CIBIL Tu & Personal Score > 750)
24	Car Loans
	a) For Individuals	8.50
	b) For Companies & Firms
25	Car Loans ( 2nd Hand Cars)
	a) for a period upto 04 years	11.00
	b) for a period exceeding 04 years	11.50
26	Personal Loans
	a)  Public	12.50
	b) Pensioners	11.50
27	Consumption Loan for Professional and Businessmen	12.50
28	Loans for Purchase of Consumer Durable Good
	a) For Salaried Persons (State/ Central Govt.)	11.00
	b) Others	11.50
29	Financing of Two Wheelers to Farmers	9.25
	Concession of 0.25% in interest rate will be allowed, if atleast 50% of the loan amount is secured by Bank’s own deposit/ NSC/ KVP/ Surrender Value of Life Insurance Policy.
30	Two Wheeler Loans
	a) For period upto 3 years	9.00
	b) For period exceeding 3 years & upto 5 years	9.10
	(Concession of 0.50% in applicable interest rate for girl students/ working ladies for purchase of scooties only)
31	Festival Advance	12.00
32	Mortgage Loan	10.60
33	Micro Credit Schemes (including Micro Credit Scheme for Fruit & Vegetable Shop on Rehri)	9.50
34	Mortgage Loan for Trade & Services
	a) Loan upto Rs. 20.00 lakh	10.00
	b) Loan above Rs.20.00 lakh and less than 100.00 lakh	10.75
	c) 100.00 Lakh and above	10.50 (For CMR 1-7)
		10.60 (For others)
35	JKGB Contractors Finance Scheme
	a) Up to Rs. 2.00 lakh	10.60
	b) Above Rs. 2.00 lakh to Rs. 20.00 lakh	11.00
	c) Above Rs. 20.00 lakh to Rs. 100.00 lakh	11.25
36	Loans under Real Estate/Future Rent Receivable Scheme
	a) Up to Rs. 15.00 lakh	9.50
	b) Above Rs.15.00 lakh	10.00
37	Advances to Landlord for Construction of Premises for Bank use	12.75
38	Passenger Buses for Private Educational Institution
	a) Repayment up to 7 years	10.00
	b) Repayment period exceeding 7 years	11.00
39	Loan Against NSC/KVP/LIC	11.75
40	Loans & Advances (SOD/DL) against Bank's Own Deposits
	a) Loan/Advance is granted against term deposits and the deposits stand in the name of the borrower singly or jointly or in the name of the concern and the advance is granted to the said concern or in the partners of the partnership concern and the advance is granted to the said concern or in the name of a ward whose guardian is competent to borrow on behalf of the ward and where the advance is made to the guardian of the ward in such capacity.	1.50% over deposit rate
	b) Loan Advance is granted against bank's own deposits in the name of 3rd party/parties.	2% above the deposit rate
41	Clean Overdraft/Temporary Overdraft	17.00
42	Adhoc facility over and above sanctioned limits	2% over and above the rate applicable on regular Working Capital limit

Important Notes:

• 1. Interest rates on all activities, other than mentioned above, shall remain unchanged.
• 2. The revised interest rates shall be applicable to the Fresh loans as well as the existing Cash Credit Limits/ SODs (effective from the date of fresh renewals)
• 3. In the event of default in repayment of principal and payment of interest under any line of credit, branches are advised to charge/apply penal interest at the rate of 2% p.a. for the default period of existing default & future default amount in all categories of loans over & above the contracted rate of interest.
• 4. Interest rate on loans and advances has to be applied after taking into account the total amount of all the existing loans and fresh loans to be sanctioned in particular loan activity i.e. per party exposure of individual loan activity.
• 5. A concession of 0.50% on the applicable interest rates shall be customarily passed on to each such borrower who brings in margin of more than OR equal to 50% of the unit cost across all vehicle loan segments (Public/ Farmers) only