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SREENIDHI SOUHARDA SAHAKARI BANK NIYAMITHA
No.113, R.V. Road, V.V. Puram, Bangalore – 560004
RATE OF INTEREST ON LOANS & ADVANCES
(W.E.F 26th December, 2022)
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Loan Scheme |
Maximum Tenure |
Loan Limit |
Rate of Interest |
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Housing Loans |
20 Years/ 240 months |
a)Up to Rs.35 Lakhs (Under Priority Sector: Purchase/ Construction of a dwelling unit per family provided the overall cost of the dwelling unit does not exceed Rs.45 Lakhs) b)Up to Rs.35 Lakhs (Under Non-Priority Sector) |
9.00%
10.00% |
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Above Rs.35 lakhs Up to Rs140 Lakhs (Under Non-Priority Sector) |
10.00% |
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Education Loans |
60 to 84 months |
Up to Rs. 20 Lakhs |
9.00% |
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Above Rs. 20 Lakhs Up to 1 Crore |
9.50% |
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New Vehicle Loans: White/Green Board |
5 years/ 60months |
Up to 85% of the ONROAD price of the vehicle |
9.50% |
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Yellow/Green Board (Commercial Vehicle) |
5 years/ 60months |
Up to 85% of the Basic Price of the Vehicle |
10.50% |
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Second Hand Vehicle Loans |
5years/ 60 months |
Maximum quantum of loan shall be Rs.20 Lakhs. Up to 80% of the Valuation for White/Green Board Vehicles & Up to 65% of the valuation for Yellow/ Green Board Vehicles |
11.00% |
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Agriculture Loans |
10 years/ 120 months |
Up to Rs.25 Lakhs |
10.50% |
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Above Rs.25 Lakhs Up to Rs.7 Crores* |
11.00% |
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Mortgage Loans For Other purposes |
12 ½ Years/ 150 months |
Up to Rs. 25 Lakhs |
12.75% |
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Above Rs.25 Lakhs Up to Rs.2 Crores |
13.50% |
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Mortgage Loans For Purchase of Site |
12 ½ Years/ 150 months |
Up to Rs. 25 Lakhs |
12.75% |
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Above Rs.25 Lakhs Up to Rs.50 Lakhs |
13.50% |
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Long Term Business Loans |
12 ½ Years/ 150 months |
Up to Rs. 25 Lakhs |
11.00% |
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Above Rs.25 Lakhs Up to Rs.2 Crore |
12.00% |
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Above Rs.2 Crore Up to Rs.7 Crore* |
13.00% |
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Gold Loans/ O.D Against Gold |
1Year/ 12 months |
Up to Rs.2 Lakhs |
9.00% |
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Above Rs.2 Lakhs Up to Rs.10 Lakhs |
10.00% |
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Gold Loans for Agriculturists (Specially introduced Scheme) Subject to obtaining a copy of RTC having Crop details or Patta Book) |
1Year/ 12 months |
Up to Rs.2 Lakhs |
8.00% |
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Above Rs.2 Lakhs Up to Rs.10 Lakhs |
9.00% |
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Loan on LIC/ NSC/ KVP |
1Year/ 12 months |
Up to Rs.1 Crore |
10.00% |
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Overdraft Loans |
1Year/ 12 months |
Up to Rs.25 Lakhs |
12.50% |
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Above Rs.25 Lakhs up to Rs.2 Crores |
13.00% |
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Unsecured Overdraft Facility |
1Year/ 12 months |
Maximum up to Rs.3 Lakhs |
15.00% |
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Unsecured Term Loans |
5 years/ 60 months |
Maximum up to Rs.3 Lakhs |
14.00% |
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*Exposure Limit for Individual Borrowers Rs.475 Lakhs & for Group Borrowers Rs.700 Lakhs |
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Unsecured Loans Up to Rs.50,000/- |
The loan up to Rs.50,000/- may be sanctioned with credit worthy solvent single surety, for a period of maximum 36 months as may be decided by the Board from time to time in respect of each particular loan considering the repaying capacity of the Borrower/ Surety. |
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Unsecured Loans Above Rs.50,000/- Up to Rs.1,00,000/- |
The loan up to Rs.1,00,000/- may be sanctioned with credit worthy solvent single surety, for a period of minimum 40 months & maximum 60 months as may be decided by the Board from time to time in respect of each particular loan considering the repaying capacity of the Borrower/ Surety. However, the following conditions are to be fulfilled: Either the Borrower or the Surety shall be an Employee or shall be Income tax assesse having filed the IT returns for the last preceding three years or as may be stipulated by the Board from time to time. |
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Unsecured Loans Above Rs.1,00,000/- up to Rs.3,00,000/- |
The loan up to Rs.3,00,000/- may be sanctioned with credit worthy solvent single surety, for a period of minimum 40 months & maximum 60 months as may be decided by the Board from time to time in respect of each particular loan considering the repaying capacity of the Borrower/ Surety. However, the following conditions are to be fulfilled:
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Unsecured Over Draft Up to Rs.3,00,000/- |
The Over Draft facility on current account may be advanced to members of the Bank who are engaged in Trade/Industry or profession based on the security of personal securities. The period of O.D. facility shall not exceed one year or as may be fixed by the Board of Directors in each case depending upon the sureties furnished and credit worthiness of the Borrower. The borrower who intends to avail of Overdraft facility shall transact the account continuously and the operations in the account should be reviewed once in a year. However, the following conditions are to be fulfilled: The borrower shall produce the copy of the ST/VAT/TIN/SSI/P.T registration certificate etc., for Business proof. Either the Borrower or the Surety shall be Income tax assesse having filed the IT returns or as may be decided by the Board from time to time. |
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Loan On Term Deposits & Over Draft on Term Deposits Margin to be maintained based on residuary period of deposit (available period from the date of loan to the date of maturity of deposit)
The rate of interest chargeable on the Loans shall be 2% more than the rate of interest payable on the term deposits for General Public & 1% More in case of for Senior Citizen & Staff of SSSBN. Maximum period 1 year/ 12 months for Over Draft Facility against term deposits. All other terms and conditions remains unchanged. |
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Note:
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