The prevailing interest rates of the Bank on deposits and advances are given below (% p.a.):

1. Interest rates on deposits :

(i) Savings Bank deposits – 3.50 % p.a.

(ii) Term deposits:

The prevailing interest rates of the Bank on deposits and advances are given below (% p.a.)

Sl. No. Period of DepositThe prevailing interest rates
Other than Sr. CitizenRate for Sr. Citizen
17 Days to 14 Days4.004.00
215 Days to 29 Days4.004.00
330 Days to 45 Days4.004.00
446 Days to 60 days4.004.00
561 Days to 90 Days4.504.50
691 Days to 180 Days5.005.00
7181 days to 269 Days5.505.50
8270 Days to less than 1 Year5.755.75
91 Year5.756.25
10Above 1 year to less than 2 years6.506.50
112 years to less than 3 years6.006.50
123 years to less than 5 years6.006.50
135 years and above6.006.50

If Term Deposit is closed prematurely withdrawn within 7days from the date of deposit.No interest will be paid
If closed prematurely beyond 7days and withdrawn the deposit.1% penalty will be levied on the rate of interest applicable for the period the deposit remained with the Bank.
If prematurely withdrawn for reinvesting the deposit for a period longer than the residual period of the original deposit.Interest will be paid at the rate applicable on the date of original deposit for the period for which the deposit remained with the Bank without applying any penalty of 1 %.
If the term deposit is renewed by premature withdrawal for a period shorter than the remaining period of the deposit.Penalty will be charged @ 1 %.

2. Rate of interest on Loans and Advances

Applicable MCLR for Loan Tenors

Sl.No.Applicable MCLR BenchmarkApplicable MCLR
1Overnight MCLR-i.e MCLR-D8.60%
21 Month MCLR-i.e MCLR-M8.65%
33 Months MCLR-i.e MCLR-Q8.70%
46 Months MCLR-i.e MCLR-H8.75%
51 Year MCLR-i.e. MCLR-Y8.80%
Under MCLR regime, the spread includes (i) business strategy premium and (ii) credit risk premium. The spread specified for one year MCLR benchmark i.e. MCLR-Y will also be applicable to other MCLR benchmark as per the Risk Rating. Any concession in the interest rate under MCLR system can be given by the competent authority as per guidelines in Bank’s Lending Policy
 
Sl. No. & Scheme TypeRate of InterestScheme Code
A. Agriculture Advance LA103,LA104,
LA121,LA105,
LA116,LA124,
LA125,OD003,
CC106,LA123,
CC201
i. Loan limit upto Rs.50000/-MCLR-Y + 1.2% i.e. 10%
ii. Loan Limit above Rs.50000/- to Rs.200000/-MCLR-Y + 2.2% i.e. 11%
iii. Loan Limit above Rs.200000/- to Rs.1000000/-MCLR-Y + 3.2% i.e. 12%
iv. Loan Limit above Rs.1000000/- to Rs.2500000/-MCLR-Y + 3.7% i.e. 12.5%
v. Limit above 25.00 lacs
a. MRBCR0MCLR-Y + 2.2% i.e. 11%
b. MRBCR1MCLR-Y + 2.7% i.e. 11.5%
c. MRBCR2MCLR-Y + 3.2% i.e. 12%
d. MRBCR3MCLR-Y + 3.7% i.e. 12.5%
e. MRBCR4MCLR-Y + 4.2% i.e. 13%
f. MRBCR5MCLR-Y + 5.2% i.e. 14%
Note: I. Bank will charge interest on all direct agricultural advances on half-yearly basis. However, interest on current dues, i.e. Crop loans & intallments not falling due in rewpect of Term Loans should not compounded.
II. When Crop Loan or installment 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 and marginal farmers.
III. In case of short term production credit up to Rs.3.00 lakh, the applicalble rate of interest shall be 7% payable as per norms on due date. Branches will prepare half-yearly statement of actual disbursement/drawal of crop loan and calculate interest subvention @ 2.00% p.a. and submit to H.O. as per extant H.O. Circular. 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 upto Rs.3.00 lakh), normal rate of interest (MCLR linked loan quantum wise rate) for agricultural advances after due date till recovery will be applicalble.
 
Sl. No. & Scheme TypeRate of InterestScheme Code
B. Advance to MSME (Tl/CC)LA210,LA215,
LA206,LA204,
LA207,LA218,
LA410,LASEC,
CC001,CC101,
CC112,CC110,
SBREG,SB201,
SBFIG
i. Loan limit upto Rs.50000/-MCLR-Y + 2.2% i.e. 11%
ii. Loan Limit above Rs.50000/- to Rs.200000/-MCLR-Y + 3.2% i.e. 12%
iii. Loan Limit above Rs.200000/- to Rs.1000000/-MCLR-Y + 3.7% i.e. 12.5%
iv. Loan Limit above Rs.1000000/- to Rs.2500000/-MCLR-Y + 4.2% i.e. 13%
v. Limit above 25.00 lacs
a. MRBCR0MCLR-Y + 2.2% i.e. 11%
b. MRBCR1MCLR-Y + 2.7% i.e. 11.5%
c. MRBCR2MCLR-Y + 3.2% i.e. 12%
d. MRBCR3MCLR-Y + 3.7% i.e. 12.5%
e. MRBCR4MCLR-Y + 4.2% i.e. 13%
f. MRBCR5MCLR-Y + 5.2% i.e. 14%
 
C. Term Loan/Cash Credit (Non schematic and Non priority)
i. Loan limit upto Rs.50000/-MCLR-Y + 3.2% i.e. 12%
ii. Loan Limit above Rs.50000/- to Rs.200000/-MCLR-Y + 4.2% i.e. 13%
iii. Loan Limit above Rs.200000/- to Rs.1000000/-MCLR-Y + 4.7% i.e. 13.5%
iv. Loan Limit above Rs.1000000/- to Rs.2500000/-MCLR-Y + 5.2% i.e. 14%
v. Limit above 25.00 lacs
a. MRBCR0MCLR-Y + 3.2% i.e. 12%
b. MRBCR1MCLR-Y + 3.7% i.e. 12.5%
c. MRBCR2MCLR-Y + 4.2% i.e. 13%
d. MRBCR3MCLR-Y + 4.7% i.e. 13.5%
e. MRBCR4MCLR-Y + 4.95% i.e. 13.75%
f. MRBCR5MCLR-Y + 5.2% i.e. 14%
D. HOUSING LOAN SCHEME
MRB HOUSING LOAN SCHEME (FLOATING)
(Irrespective of amount and repayment period)
MCLR-Y + 0.2% i.e. 9%LA304,LAAHL
Note: For MRB Staff Housing Loan Scheme applicable rate of interest shall be 8% per annum (fixed)LA007,LA006
E. Loan to SHG (Floating)CC102,CC103,
LA222,LA405
i. Loan limit upto Rs.50000/-MCLR-Y + 2.2% i.e. 11%
ii. Loan Limit above Rs.50000/- to Rs.200000/-MCLR-Y + 2.7% i.e. 11.5%
iii. Loan Limit above Rs.200000/- to Rs.1000000/-MCLR-Y + 3.2% i.e. 12%
iv. Loan Limit above Rs.1000000/- to Rs.2500000/-MCLR-Y + 3.7% i.e. 12.5%
v. Limit above 25.00 lacs
a. MRBCR0MCLR-Y + 2.2% i.e. 11%
b. MRBCR1MCLR-Y + 2.7% i.e. 11.5%
c. MRBCR2MCLR-Y + 3.2% i.e. 12%
d. MRBCR3MCLR-Y + 3.7% i.e. 12.5%
e. MRBCR4MCLR-Y + 4.2% i.e. 13%
f. MRBCR5MCLR-Y + 5.2% i.e. 14%
Note: In case of loans up to Rs.3.00 lakh sanctioned to NULM/NRLM (Imphal East and Chandel District) complaint women SHGs the applicable rate of interest shall be 7.00% (fixed). In case the borrower fails to repay the loan installments in time and the account becomes overdue, normal rate of interest as mentioned in the above table shall be applicable.
F. Loan to Anganwadi workers & HelpersMCLR-Y + 4.2% i.e. 13%LA519
G. Loan against own Term deposits of the bankLA602,OD002
,LA008
i. Loan to deposit holder1% above interest on concerned deposit
ii. Loan against third party deposit having minimum margin 25%2% above interest on concerned deposit subject to minimum of MCLR-Y
H. Loan against NC,KVP,IVP and LICI policyMCLR-Y + 3.2% i.e. 12%LA403
I. Personal Loan/ Consumer durable loanMCLR-Y + 4.2% i.e. 13%LA508, LA518
J. MRB car loan
i. StaffMCLR-Y + 0.7% i.e. 9.5%LASCL,LA005
ii. Other than staffMCLR-Y + 1.2% i.e. 10%LA506
K. Clean Overdraft
i. StaffMCLR-Y + 0.7% i.e. 9.5%OD101
ii. Other than staffMCLR-Y + 6.2% i.e. 15%OD001
L. Loan to landlord of Branch PremisesMCLR-Y + 4.2% i.e. 13%LA502
M. Education LoanLAEDU
i. Upto Rs.7,50,000/-MCLR-Y + 2.7% i.e. 11.5%
ii. Above Rs.7,50,000/-MCLR-Y + 2.2% i.e. 11%
iii. Concession for girl student0.50% from card rate