Interest on Loans

Sl.No.

Applicable
MCLR Benchmark

Applicable
MCLR

1

Overnight MCLR-i.e.
MCLR-D

8.80%

2

1 month MCLR-i.e. MCLR-M

8.85%

3

3 month MCLR-i.e. MCLR-Q

8.90%

4

6 month MCLR-i.e. MCLR-H

8.95%

5

1 year MCLR-i.e. MCLR-Y

9.00%

Sl. No.

Scheme type

Existing Rate of Interest

Revised Rate of Interest

Scheme code

A

Agriculture Advance

LA103, LA104, LA121, LA105, LA116, LA124, LA125, OD003, CCAGR, LA123, CCAKC

i.

Loan limit up to Rs.50,000/-

MCLR-Y + 3.9 % i.e.12.5%

MCLR-Y + 3.7 % i.e.12.7%

ii.

Loan limit above Rs.50,000/- to Rs. 2,00,000/-

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 4.2 % i.e. 13.2%

iii.

Loan limit above Rs.2,00,000/- to Rs. 10,00,000/-

MCLR-Y + 4.9 % i.e. 13.5%

MCLR-Y + 4.7 % i.e. 13.7%

iii.

Loan limit above Rs. 10,00,000/- to Rs. 25,00,000/-

MCLR-Y + 3.9 % i.e. 12.5%

MCLR-Y + 3.7 % i.e. 12.7%

iv

Limit above 25.00 lacs

a

MRBCR0

MCLR-Y + 2.4 % i.e. 11%

MCLR-Y + 2.2 % i.e. 11.2%

b

MRBCR1

MCLR-Y + 2.9 % i.e. 11.5%

MCLR-Y + 2.7 % i.e. 11.7%

c

MRBCR2

MCLR-Y + 3.4 % i.e. 12%

MCLR-Y + 3.2 % i.e. 12.2%

d

MRBCR3

MCLR-Y + 3.9 % i.e. 12.5%

MCLR-Y + 3.7 % i.e. 12.7%

e

MRBCR4

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 4.2 % i.e. 13.2%

f

MRBCR5

MCLR-Y + 5.4 % i.e. 14%

MCLR-Y + 5.2 % i.e. 14.2%

Note:

I. Bank will charge interest on all direct agricultural advances on half-yearly basis. However, interest on current dues, i.e. Crop Loans & Installments not falling due in respect of Term Loans should not be compounded.

II. When Crop Loan or instalment under Term Loan becomes overdue, outstanding interest to be added to the principal and interest would be compounded. However, total interest debited to an account should not exceed the principal amount in respect of Short Term Agricultural Advances to Small & Marginal Farmers

III. In case of Short Term loan (Crop loan and WC loans for animal husbandry and fisheries activities) up to Rs. 3.00 Lakh per farmer (subject to maximum of Rs.2.00 lakh per farmer for WC loans for AH &F activities), the applicable rate of Interest shall be 7% payable as per norms on due date. Concession in Rate of Interest by 3.00% for timely repayment of bank dues in terms of Government directives will also continue. However, if the loan is not repaid within the due date (overdue accounts with limit up to Rs. 3.00 Lakh) and where interest subvention is not eligible, normal rate of interest (MCLR linked loan quantum wise rate) for agricultural advances after due date till recovery will be applicable.

B

Advance to MSME (TL/CC)

LA210, LA215,  LA206, LA204, LA207, LA218, LA410, LASEC,  CCOTH, CC002, CC112, CC110, SBREG, SB201, SBFIG

i.

Loan limit up to Rs.2,00,000/-

MCLR-Y + 4.9 % i.e. 13.5%

MCLR-Y + 4.7 % i.e. 13.7%

ii.

Loan limit above Rs.2,00,000/- to Rs. 10,00,000/-

MCLR-Y + 5.2 % i.e. 13.8%

MCLR-Y + 5.0 % i.e. 14%

iii

Loan limit above Rs.10,00,000/- to Rs. 25,00,000/-

MCLR-Y + 5.4 % i.e. 14%

MCLR-Y + 5.2 % i.e. 14.2%

v

Limit above 25.00 lacs

a

MRBCR0

MCLR-Y + 2.9 % i.e. 11.5%

MCLR-Y + 2.7 % i.e. 11.7%

b

MBRCR1

MCLR-Y + 3.4 % i.e. 12%

MCLR-Y + 3.2 % i.e. 12.2%

c

MRBCR2

MCLR-Y + 3.9 % i.e. 12.5%

MCLR-Y + 3.7 % i.e. 12.7%

d

MRBCR3

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 4.2 % i.e. 13.2%

e

MRBCR4

MCLR-Y + 4.9 % i.e. 13.5%

MCLR-Y + 4.7 % i.e. 13.7%

f

MRBCR5

MCLR-Y + 5.4 % i.e. 14.5%

MCLR-Y + 5.7 % i.e. 14.7%

C

Term loan/Cash Credit                                                    (Non schematic and Non priority ) 

i.

Loan limit up to Rs.50,000/-

MCLR-Y + 4.9 % i.e. 13.5%

MCLR-Y + 4.7 % i.e. 13.7%

ii.

Loan limit above Rs.50,000/- to Rs. 2,00,000/-

MCLR-Y + 5.4 % i.e. 14%

MCLR-Y + 5.2 % i.e. 14.2%

iii.

Loan limit above Rs.2,00,000/- to Rs. 10,00,000/-

MCLR-Y + 5.9 % i.e. 14.5%

MCLR-Y + 5.7 % i.e. 14.7%

iv.

Loan limit above Rs.10,00,000/- to Rs. 25,00,000/-

MCLR-Y + 6.4 % i.e. 15%

MCLR-Y + 6.2 % i.e. 15.2%

v

Limit above 25.00 lacs

a

MRBCR0

MCLR-Y + 3.9 % i.e. 12.5%

MCLR-Y + 3.7 % i.e. 12.7%

b

MBRCR1

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 4.2 % i.e. 13.2%

c

MRBCR2

MCLR-Y + 4.9 % i.e. 13.5%

MCLR-Y + 4.7 % i.e. 13.7%

d

MRBCR3

MCLR-Y + 5.4 % i.e. 14%

MCLR-Y + 5.2 % i.e. 14.2%

e

MRBCR4

MCLR-Y + 5.65 % i.e. 14.75%

MCLR-Y + 5.95 % i.e. 14.95%

f

MRBCR5

MCLR-Y + 5.9 % i.e. 15%

MCLR-Y + 6.2% i.e. 15.2%

D

Housing Loan Scheme

(FLOATING) ( Irrespective of amount and repayment period )

TLPHL, LAAHL

i.

CIBIL score – 650 to 699

MCLR-Y +0.4 % i.e. 9%

MCLR-Y +0.9 % i.e. 9.9%

ii.

CIBIL score 700 to 749

Or  (-1) No credit history

MCLR-Y +0.15 % i.e. 8.75%

MCLR-Y -0.1 % i.e. 8.9%

iii.

CIBIL score 750 to 799

MCLR-Y – 0.10 % i.e. 8.50%

MCLR-Y – 0.20 % i.e. 8.80%

iv.

CIBIL score 800 and above

MCLR-Y – 0.35 % i.e. 8.25%

MCLR-Y – 0.4 % i.e. 8.6%

v.

MRB Staff Housing loan

6.5% simple interest (fixed)

6.5% simple interest (fixed)

TLSHS

E

Loan to SHG (Floating)

CC102, CC103, LA222,

i.

Loan limit up to Rs.2,00,000/-

MCLR-Y + 3.9 % i.e. 12.5%

MCLR-Y + 3.7 % i.e. 12.7%

ii.

Loan limit above Rs.2,00,000/- to Rs. 10,00,000/-

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 4.2 % i.e. 13.2%

iii

Loan limit above Rs.10,00,000/- to Rs. 25,00,000/-

MCLR-Y + 4.9 % i.e. 13.5%

MCLR-Y + 4.7 % i.e. 13.7%

iv

Limit above 25.00 lacs

a

MRBCR0

MCLR-Y + 2.9 % i.e. 11.5%

MCLR-Y + 2.7 % i.e. 11.7%

b

MBRCR1

MCLR-Y + 3.4 % i.e. 12%

MCLR-Y + 3.2 % i.e. 12.2%

c

MRBCR2

MCLR-Y + 3.9 % i.e. 12.5%

MCLR-Y + 3.7 % i.e. 12.7%

d

MRBCR3

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 4.2 % i.e. 13.2%

e

MRBCR4

MCLR-Y + 4.9 % i.e. 13.5%

MCLR-Y + 4.7 % i.e. 13.7%

f

MRBCR5

MCLR-Y + 5.9 % i.e. 15%

MCLR-Y + 6.2 % i.e. 15.2%

Note: In case of loans up to Rs. 3.00 Lakh sanctioned to NULM/NRLM (Imphal East and Chandel District) compliant women SHGs the applicable rate of interest shall be 7.00% (fixed) For loans above Rs.3.00 lakh to Rs.5.00 Lakh sanctioned to NRLM (Imphal East and Chandel District) compliant women SHGs the applicable rate of interest shall be MCLR-Y i.e 9.0% at present.. In case the borrower fails to repay the loan instalments in time and the account becomes overdue, normal rate of interest as mentioned in the above table shall be applicable

LASG7 , LA405

CC102, CC103,

F

 Loan to Anganwadi workers & Helpers

MCLR-Y + 5.4 % i.e. 14%

MCLR-Y + 5.2 % i.e. 14.2%

LA519

G

Loan against own Term deposits of the Bank.

LA602, OD002, LA008

i

Loan to deposit holder

1% above interest on concerned deposit

ii

Loan against third party deposit having minimum margin 25%

2% above interest on concerned deposit

H

Loan against NSC,KVP ,IVP and  LICI policy

MCLR-Y + 3.4 % i.e. 12%

MCLR-Y + 3.2 % i.e. 12.2%

LA403

I

Personal Loan /Consumer durables loan

TLPCL, LA518

i. For salary credited at MRB/PNB

MCLR-Y + 2.9 % i.e. 11.5%

MCLR-Y + 3 % i.e. 12%

ii. For salary credited at other Bank

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 6 % i.e. 15%

J

MRB car loan

i.

Staff

5.5% simple interest (fixed)

5.5% simple interest (fixed)

TLSVL

ii.

Other than staff

MCLR-Y + 0.4 % i.e. 9%

MCLR-Y + 0.5 % i.e. 9.5%

TLPVL

K

Clean Overdraft

i.

Staff

MCLR-Y   i.e. 8.6%

MCLR-Y   i.e. 9%

ODSCL

ii.

Other than staff

MCLR-Y + 6.4 % i.e.15%

MCLR-Y + 9 % i.e.18%

ODGEN

L

Loan to Landlord of Branch premises

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 4.2 % i.e. 13.2%

LA502

M

Education loan

TLRED

i

Upto Rs.7,50,000/-

MCLR-Y + 0.9 % i.e. 9.5%

MCLR-Y + 0.7 % i.e. 9.7%

ii

Above Rs.7,50,000/-

MCLR-Y + 1.4 % i.e. 10%

MCLR-Y + 1.2 % i.e. 10.2%

iii

Concession for girl student

N

e-Rickshaw and three wheeler auto loan (of all fuel types) upto Rs.5,00,000/-

MCLR-Y + 2.4 % i.e. 11%

MCLR-Y + 3.5 % i.e. 12.5%

LA215

O

Personal Loan for pensioner

TLPPL

i.

For salary account maintain at MRB and PNB

MCLR-Y + 2.9 % i.e. 11.5%

MCLR-Y + 3 % i.e. 12%

ii.

For salary maintain at other Bank

MCLR-Y + 4.4 % i.e. 13%

MCLR-Y + 6 % i.e. 15%

P

Loan against property

MCLR-Y

MCLR-Y + 4 i.e. 13%

TLLAP