Interest Rates on Loans

Revised Interest Rate Structure

	Revised Interest Rate Structure for FRESH Loans & Advances for General Public
	Particulars	Interest Rates (%)
1	Agriculture/Horticulture Short Term Crop Loan including under KCC (Crop Loan and AH&F) Only
	a) Upto Rs. 3.00 lakh	7.00
	b) Above Rs. 3.00 lakh to Rs.5.00 lakh	10.00
	c) Above Rs. 5.00 lakh to Rs. 20.00 lakh	10.50
	d) Above Rs. 20.00 lakh	11.50
2	Term Loans for Agriculture/ Horticulture & Allied Activities (including pump sets/ Farm machinery/ Poultry/ AMI, etc.)
	a) Up to and inclusive of Rs.2.00 lakh	9.50
	b) Above Rs.2.00 lakh to Rs. 5.00 lakh	10.00
	c) Above Rs. 5.00 lakh to Rs. 20.00 lakh	10.50
	d) Above Rs. 20.00 lakh	11.00
3	Tractor Loans (including Tillers etc.)
	a) Loans up to Rs. 2.00 lakh	9.50
	b) Above Rs.2.00 lakh to Rs. 5.00 lakh	10.00
	c) Above Rs. 5.00 lakh to Rs. 20.00 lakh	10.50
4	Financing Solar Water Pumping Systems	10.00
5	General Credit Card( Revised Scheme)	11.50
6	Self Help Groups (SHGs) Revolving Fund	11.50
	Self Help Groups (SHGs) under NRLM/ others
	a) Loans upto Rs. 3.00 lakh	11.50
	b ) Above Rs.3.00 lakh	12.50
7	Trade (Retail & Wholesale) including Giri Finance Scheme
	a) Up to and inclusive of Rs.10.00 lakh	11.50
	b) Above Rs.10.00 lakh and less than 100.00 lakh	11.75
	c) 100.00 lakh & above	11.00
8	JKGB Easy Finance to Small Businessmen	11.50
9	Artisan Credit Card (ACC)	11.50
10	JKGB Weaver MUDRA Scheme	11.50
11	JKGB Handicraft Artisan MUDRA Scheme	11.50
12	J&K Rural Employment Generation Programme (JKREGP) Scheme	11.65
13	Loans under Wazwan Scheme	11.50
14	Micro & Small Enterprises (Manufacturing)(Rural Artisans, SSI & Village Industries)
	a) Up to and inclusive of Rs.10.00 lakh	11.25
	b) Above Rs.10.00 lakh	11.50
	c)Rs.100.00 lakh & above	11.00
15	Loans for Stone Crushers & Brick Kilns
	a) Up to Rs. 20.00 lakh	12.75
	b) Above Rs. 20.00 lakh to Rs. 50.00 lakh	12.50
	c) Above Rs. 50.00 lakh to Rs. 100.00 lakh	12.50
16	Transport Operators
	a) For Exisiting customers	10.50*
	b) For Fresh connections	11.00
	*The ROI of 10.50% p.a in Commercial Vehicle Finance scheme is applicable to the exisitng customers having minimum three years of past-proven track record in the Transport activity with our Bank only.
17	2nd Hand Transport Vehicle
	a) Loans for repayment period up to 4 yrs	12.50
	b) Loans for period exceeding 4 yrs	13.00
18	Loans under Machine Finance for Infrastructure Purpose	11.50
19	Other Micro & Small Services Sector
	a) Up to and inclusive of Rs.10.00 lakh	11.25
	b) Above Rs.10.00 lakh	11.50
	c) 100.00 Lakh and above	11.00
20	Education Loans (Primary & Higher Education)
	a) Up to Rs. 5.00 lakh	10.50
	b) Above Rs. 5.00 lakh and up to Rs.10.00 lakh	11.00
	c) Above Rs.10.00 lakh & up to Rs.20.00 lakh	11.50
	(Concession of 0.50% in interest rates under Education Loans for girl students)
21	Housing Loans (including PMAY)
	a) Housing Loans qualifying for Priority Sector Classification	8.00* / 8.10
	b) Up to Rs. 50.00 lakh (Non priority)	8.25
	c) Above Rs. 50.00 lakh	8.50
	*The afore-said interest rate shall apply to the high credit-worthy borrowers only having minimum CIBIL TU & Personal Score of 750 only.
22	Car Loans
	a) For customers with CIBIL Tu & Personal Score >700	8.75
	b) For other customers	8.85
23	Car Loans ( 2nd Hand Cars)
	a) for a period upto 04 years	12.50
	b) for a period exceeding 04 years	13.00
24	Personal Loans for Public and Pensioners
	a)  Public	14.00
	b) Pensioner	13.00
25	Loans for Purchase of Consumer Durable Good
	a) For Salaried Persons (State/ Central Govt.)	12.50
	b) Others	13.00
26	Consumption Loan for Professional and Businessmen	15.00
27	Financing of Two Wheelers to Farmers	10.25
	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.
28	Two Wheeler Loans
	a) For period upto 3 years	10.50
	b) For period exceeding 3 years & upto 5 years	11.00
	(Concession of 0.50% in applicable interest rate for girl students/ working ladies for purchase of scooties only)
29	Festival Advance	13.35
30	Mortgage Loans	11.50
31	Micro Credit Schemes including Fruit/Vegetable Shop on Rehri	11.25
32	Mortgage Loan for Trade & Services
	a) Loan upto Rs. 20.00 lakh	11.25
	b) Loan above Rs.20.00 lakh and less than 100.00 lakh	11.50
	c) 100.00 Lakh and above	11.00
33	JKGB Contractors Finance Scheme
	a) Up to Rs. 2.00 lakh	12.00
	b) Above Rs. 2.00 lakh to Rs. 20.00 lakh	12.75
	c) Above Rs. 20.00 lakh to Rs. 100.00 lakh	13.00
34	Loans under Real Estate/Future Rent Receivable Scheme
	a) Up to Rs. 15.00 lakh	13.00
	b) Above Rs.15.00 lakh	13.75
35	Advances to Landlord for Construction of Premises for Bank use	14.50
36	Passenger Buses for Private Educational Institution
	a) Repayment up to 7 years	11.00
	b) Repayment period exceeding 7 years	12.00
37	Loan Against NSC/KVP/LIC	13.00
38	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
39	Clean Overdraft/Temporary Overdraft	17.00
40	Adhoc facility over and above sanctioned limits	2% over and above the rate applicable on regular Working Capital limit
41	Purchase of Generator set for Traders/ Businessmen	11.50
42	Arogya Plus
	a) Upto and inclusive of Rs.20.00 lakh	11.50
	b) Above Rs.20.00 lakh	12.50

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) under Trade, MSE & Mortgage Loan for Trade & Services sectors.
• 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 effective from 13.01.2020.