Interest Rates on Loans

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Revised Interest Rate Structure

  Revised Interest Rate Structure for FRESH Loans & Advances for General Public   
     
S No. Activity Interest Rate (%)
w.e.f 12.08.2022		 Interest Table Code
     
1 Agriculture/Horticulture Short Term Crop Loan (including under KCC for Crops)  
  a) Upto Rs. 3.00 lakh 7.00 L700/V700
  b) Above Rs. 3.00 lakh to Rs.5.00 lakh 10.00 L1000/V1000
  c) Above Rs. 5.00 lakh to Rs. 20.00 lakh 10.50 L1050/V1050
  d) Above Rs. 20.00 lakh 10.90 L1090/V1090
       
2  Agriculture including allied activities Short Term Loan (under KCC for Animal Husbandry & Fisheries)    
  a) Upto Rs. 2.00 lakh 7.00 L700/V700
  b) Above Rs. 2.00 lakh to Rs.5.00 lakh 10.00 L1000/V1000
  c) Above Rs. 5.00 lakh to Rs. 20.00 lakh 10.50 L1050/V1050
  d) Above Rs. 20.00 lakh 10.90 L1090/V1090
 
 
3  Term Loans for Agriculture/ Horticulture & Allied Activities
(including Poultry Venture Scheme, Pump sets, Financing to Fishery Sector, ACABC & Agri-Marketing Infrastructure)		  
  a) Up to and inclusive of Rs.2.00 lakh 9.30 V930
  b) Above Rs.2.00 lakh to Rs. 5.00 lakh 9.95 V995
  c) Above Rs. 5.00 lakh to Rs. 20.00 lakh 10.50 V1050
  d) Above Rs. 20.00 lakh 10.95 V1095
 
 
4 Farm Mechanization Scheme  
  a) Loans up to Rs. 2.00 lakh 9.30 V930
  b) Above Rs.2.00 lakh to Rs. 5.00 lakh 9.90 V990
  c) Above Rs. 5.00 lakh to Rs. 20.00 lakh 10.30 V1030
 
 
5 Financing Solar Water Pumping Systems & Solar Equipment Finance Scheme for Individuals 11.65 V1165
 
 
6 General Credit Card (Revised Scheme) 11.25 V1125
 
 
7  Self Help Groups (SHGs) Revolving Fund    
  Self Help Groups (SHGs) under NRLM/ others  
  a) Loans upto Rs. 3.00 lakh 11.25 L1125/V1125
  b ) Above Rs.3.00 lakh 11.35 L1135/V1135
 
 
8 Trade (Retail & Wholesale) including Giri Finance Scheme  
  a) Up to and inclusive of Rs.10.00 lakh 11.80 L1180/V1180
  b) Above Rs.10.00 lakh and less than Rs. 100.00 lakh 11.50 L1150/V1150
  c) Rs. 100.00 lakh & above 11.25 (For CMR 1-7) L1125/V1125
    11.45 (For others) L1145/V1145
       
9 JKGB Easy Finance to Small Businessmen 11.50 V1150
 
 
10  Artisan Credit Card (ACC)/ JKGB Weaver MUDRA Scheme/ JKGB Handicraft Artisan MUDRA Scheme/ Loans under Wazwan Scheme/ Credit Card Scheme for Weavers & Artisans 11.35 L1135/V1135
 
 
11 J&K Rural Employment Generation Programme (JKREGP) Scheme 11.25 L1125/V1125
 
 
12 Micro & Small Enterprises (Manufacturing)(Rural Artisans, SSI & Village Industries)  
  a) Up to and inclusive of Rs.10.00 lakh 11.80 L1180/V1180
  b) Above Rs.10.00 lakh to less than Rs.100.00 lakh 11.50 L1150/V1150
  c)Rs.100.00 lakh & above 11.25 (For CMR 1-7) L1125/V1125
    11.45 (For others) L1145/V1145
13 Other Micro & Small Services Sector  
  a) Up to and inclusive of Rs.10.00 lakh 11.80 L1180/V1180
  b) Above Rs.10.00 lakh to less than Rs.100.00 lakh 11.50 L1150/V1150
  c) Rs.100.00 lakh & above 11.25 (For CMR 1-7) L1125/V1125
    11.45 (For others) L1145/V1145
       
14 Arogya Plus - Scheme for Financing Doctors/ Medical Practitioners  
  a) Upto & inclusive of Rs.20.00 lakh 10.85 V1085
  b) Above Rs.20.00 lakh 11.25 V1125
 
 
15 Purchase of Generator set for Traders/ Businessmen 11.25 L1125/V1125
 
 
16 Loans for Stone Crushers & Brick Kilns  
  a) Up to Rs. 20.00 lakh 12.25 V1225
  b) Above Rs. 20.00 lakh to Rs. 50.00 lakh
  c) Above Rs. 50.00 lakh to Rs. 100.00 lakh
 
 
17 Transport Operators (including Replacement of Old Public Transport under J&K Transport Subsidy Scheme & E-Rickshaw Scheme)  
  a) For Exisiting customers 9.90* V990
  b) For Fresh connections 10.30
 V1130
  c) under Mumkin Scheme 10.30 L1030/V1030
  *The ROI of 9.90% 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.    
18  2nd Hand Transport Vehicle  
  a) Loans for repayment period up to 4 yrs 12.95 V1295
  b) Loans for period exceeding 4 yrs 13.45 V1345
 
 
19 Loans under Machine Finance for Infrastructure Purpose 10.75
 V1075
     
20 Education Loans (Primary & Higher Education)  
  a) Up to Rs. 5.00 lakh 9.95
 V995
  b) Above Rs. 5.00 lakh and up to Rs.10.00 lakh 10.20 V1020
  c) Above Rs.10.00 lakh & up to Rs.20.00 lakh 10.80 V1080
  (Concession of 0.25% in applicable interest rate for girl students)    
 
 
21 Housing Loans  
  a) Housing Loans qualifying for Priority Sector Classification 8.30*
8.35		 V830
V835
  b) Up to Rs. 50.00 lakh (Non priority) 8.45 V845
  c) Above Rs. 50.00 lakh 8.60
 V860
  d) Top Up loan 10.50
 V1050
  (* For customers having CIBIL Tu & Personal Score > 750)  
 
 
22 Car Loans  
  a) For Individuals 9.10 V910
  b) For Companies & Firms 9.25 V925
 
 
23 Car Loans ( 2nd Hand Cars)  
  a) for a period upto 04 years 12.10 V1210
  b) for a period exceeding 04 years 13.10 V1310
 
 
24 Financing Farmers for purchase of Vehicles    
(i) For brand new vehicle    
  a) Upto Rs3.00 Lakh 9.00 V900
  b) Above Rs 3.00Lakh & upto Rs 5.00Lakh
  c) Above Rs 5.00Lakh & upto Rs10.00Lakh
       
(ii) For 2nd hand vehicle    
  a) for  period upto 04 years 12.00 V1200
  b) for period exceeding 04 years 12.50 V1250
       
25 Personal Loans  
  a)  Public 13.30 (for Central/State govt. employees), 13.50(for others) V1330/1350
  b) Pensioners 12.40 V1240
 
 
26 Consumption Loan for Professional and Businessmen 13.35 V1335
     
27 Loans for Purchase of Consumer Durable Goods  
  a) For Salaried Persons (State/ Central Govt.) 12.00 V1200
  b) Others 12.60 V1260
 
 
28 Financing of Two Wheelers to Farmers 10.00 V1000
  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.
    
 
 
29 Two Wheeler Loans  
  a) For period upto 3 years 10.30 V1030
  b) For period exceeding 3 years & upto 5 years 10.40 V1040
  (Concession of 0.50% in applicable interest rate for girl students/ working ladies for purchase of scooties only)
 
 
30 Festival Advance 12.00 V1200
 
 
31 Mortgage Loans 10.95 V1095
 
 
32 Micro Credit Schemes (including Micro Credit Scheme for Fruit & Vegetable Shop on Rehri) 9.95 V995
 
 
33 Mortgage Loan for Trade & Services   
  a) Loan upto Rs. 20.00 lakh 10.40 V1040
  b) Loan above Rs.20.00 lakh and less than 100.00 lakh 10.90 V1090
  c) 100.00 Lakh and above 10.95 (For CMR 1-7) V1095
 
11.25 (For others) V1125
34 JKGB Contractors Finance Scheme V1250
  a) Up to Rs. 2.00 lakh 11.25 V1125
  b) Above Rs. 2.00 lakh to Rs. 20.00 lakh 11.75 V1175
  c) Above Rs. 20.00 lakh to Rs. 100.00 lakh 11.80 V1180
 
 
35 Loans under Real Estate/Future Rent Receivable Scheme  
  a) Up to Rs. 15.00 lakh 10.85 V1085
  b) Above Rs.15.00 lakh 11.25 V1125
 
 
36 Advances to Landlord for Construction of Premises for Bank use 13.50 V1350
 
 
37 Passenger Buses for Private Educational Institution  
  a) Repayment up to 7 years 10.20
 V1020
  b) Repayment period exceeding 7 years 11.20 V1120
 
 
38 Loan Against NSC/KVP/LIC 12.35 V1235
 
 
39 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  
 
 
40 Clean Overdraft/Temporary Overdraft 17.50 CDINT
 
 
41 PMFME Scheme    
  a) upto Rs 10 Lakh 10.20 V1020
  b) above Rs 10 lakh & upto Rs 20 lakh 10.70 V1070
  c) Above Rs 20 Lakh 11.20 V1120
       
42 Adhoc facility over and above sanctioned limits 2.50% over and above the rate applicable on regular Working Capital.  
 
 
43 OD under PMJDY 8.50  

Important Notes:

  • 1. 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)
  • 2. 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 & future default amount in all categories of loans aver & above the contrated rate of interest.
  • 3. Interest rate on loans and advances has to be applied after taking into account the total amount of all existing loans and fresh loans to be sanctioned in particular loan activity i.e. per party exposure of individual loan activity.
  • 4. A Concession of 0.25% on the applicable Interest Rates shall be customarily passed on to each such borrower who brings in margin of more than or equl to 50% of the unit cost across all Vehicle Loan segments (Public/Farmers) only.
  • 5. Interest rates on all activities , other than mentioned above, shall remain unchanged.