Interest Rates on Loans and Advances
Interest Rates on Loans and Advances
Marginal Cost of funds based Lending Rate (MCLR) with effect from 16.11.2024
Base Rate of the Bank – 9.63%
Floating Rates Loans (Interest Rates on Retail portfolio linked to RBI Repo Rate)
| Present Repo Rate | 6.50% (p.a) |
|
Loan scheme/ product |
Interest Rate (%) * |
|
Home Loan |
8.80 (Repo Rate+ 2.30) Onwards |
|
Car Loan - New |
8.85 (Repo Rate+ 2.35) Onwards |
|
Car Loan - Used |
16.30 (Repo Rate + 9.80) |
|
Property Power Loan (LAP) |
12.60 (Repo Rate + 6.10) Onwards |
|
Education Loan |
12.55 (Repo Rate + 6.05) Onwards |
|
Gold Loans |
8.99% (Repo Rate + 2.49%) onwards |
Retail Loans with Fixed Interest Rates
|
Loan scheme/ product |
Interest Rate (% p.a)* |
|
Two-Wheeler |
12.50 Onwards |
|
Personal Loan |
11.49 Onwards |
|
Gold Loan |
9.79 Onwards |
|
Loan Against Fixed Deposits – Term Loan / Easy Cash (Overdraft) |
|
|
Against Own Deposits |
Deposit Rate + 2.00 |
|
Against Third Party Deposits |
12.50 or Deposit Rate + 2.00, whichever is higher |
|
Loan Against Approved Securities (NSC,IVP, KVP and LIC Policies) |
|
|
Term Loan - Against Own Securities |
12.50 Onwards |
|
Easy Cash (Overdraft) - Against Own Securities |
12.75 Onwards |
|
Fed Rise - Loan Against Recurring Deposits |
|
|
Against own Recurring Deposits |
10.75 or Recurring Deposit Rate + 2.00, whichever is higher |
|
Against Third Party Recurring Deposits |
11.25 or Recurring Deposit Rate + 2.50, whichever is higher |
|
Loan Against Demat Shares |
12.50 |
*T&C Apply
Click here for detailed Interest Rates
Interest Rates for Business Loans up to Rs 20 Crores
|
Description of loan scheme/ product |
For MSMEs (Floating rate linked to RBI Repo Rate) p. a |
For Non-MSMEs (Floating Rate linked to MCLR) p. a |
For MSMEs (Fixed) p. a |
For Non-MSMEs (Fixed) p. a |
|
Rent Securitization Loans |
11.70 % to 16.55 % |
11.90% to 16.75 % |
11.80% to 16.40% |
12.05% to 16.65% |
|
Loans Against Property |
12.30 % to 14.25% |
12.55% to 14.50% |
12.40% to 14.15% |
12.65% to 14.35% |
|
Business Vehicle Loans |
11.90 % to 16.85% |
12.10% to 17.05% |
12.00% to 16.75% |
12.25% to 16.95% |
|
Other Business Loans |
11.35 % to 17.70% |
11.60% to 17.95% |
11.50% to 17.60% |
11.70% to 17.80% |
Interest Rates for Agri loans
| Federal Agri Mobile Schemes |
Loans up to Rs. 10 Lakhs
Loans above 10 Lakhs
|
| Federal Prathyasha Loans | 13.80% Fixed |
| Loans against Electronic Negotiable Warehouse Receipt (ENWR) | 10.00% Fixed |
| ISS KCC Loans | 4% Fixed (Inclusive of subvention benefits) |
| Other Agri Loan- Individual | Agri Loan- Non-Individual |
| Applicable MCLR + 3.80% (Spread) to 5.70% (Spread) | Applicable MCLR + 4.45% (Spread) to 7.70% (Spread) |
Other Micro Loans with Fixed Interest Rate
| Description of loan scheme/ product | Interest Rates (p.a) - Fixed |
|---|---|
| Micro credit to SHGs/ JLGs/ Kudumbasree and similar schemes | 12.50% |
| Loans under NRLM/ NULM | 12.50% |
| Loan under PM SVANidhi scheme | 16.00% |
MCLR prevailing on the day loan is disbursed will be applicable till the next reset date, irrespective of the changes in the benchmark during the interim. The reset dates are linked to the MCLR review date and reset frequency.
For all loans linked to MCLR with different interest reset periods, the reset date stands aligned to the MCLR review date i.e 16th of the month, with effect from 16.01.2017.
Borrowers whose accounts are linked to BPLR/ Base Rate can approach the Branch Manager for conversion of their loan accounts to MCLR linked interest rates*.
For information on MCLR rates and spread over MCLR, please contact branch officials or log on to Bank’s Official Website: www.federalbank.co.in