homeInterest Rate Range and Annual Percentage Rate

Interest Rate Range and Mean Interest Rate

Interest Rate Range of contracted loans for the past quarter (October - December 2016) for different categories of advances granted to individual borrowers:
Category
Mean Interest
Interest rate range*
Housing Loan
9.83%
9.80% - 11.35%
Mobi Loan
10.23%
9.80% - 11.85%
Gold Loan (General)
10.98%
10.50% - 14.00%
Gold loan (Agri)
10.27%
7.00% - 13.00%
Educational Loan
13.22%
11.30% - 16.15%
Personal Loan
13.00%
10.90% - 15.00%
SIB Flexi Loan
13.21%
10.75% - 13.65%
OD against property
11.71%
9.80% - 12.10%
SIB Decor 12.60% 10.30% - 12.85%
SIB Mini Rental Scheme 11.83% 11.00% - 12.30%
 

*Minimum & Maximum rate of interest is charged as per past quarter

        
                              Annual Percentage Rate

Annual Percentage Rate represents the total cost a borrower might incur in getting a credit facility from the bank (Based on past quarter Jan - Mar 2015):
Sl. No Nature of Loan APR cost of credit Per Lakh* (One Time)
1 Housing loan 0.49 % of loan amount + Property Valuation Charges + LSR Fee extra
2 Mobi Loan 0.43% of loan amount + Property Valuation Charges, CERSAI Fee & LSR Fee extra [applicable only if collateral taken]
3 Gold Loan (General) 0.15% of loan amount
4 Gold Loan (Overdraft) 0.20% of loan amount
5 Gold Loan (Agriculture) Nil
6 Flexi Loan 0.54% of loan amount + Property Valuation Charges + LSR Fee extra
7 Personal Loan 0.50% of loan amount
8 Education Loan 0.15% of loan amount

 *Subject to change according to nature and quantum of loan