Loan Interest Rates
| FROM 25-01-2021 RATE OF INTEREST CHANGED AS FOLLOWS: | |||||
|---|---|---|---|---|---|
| INTEREST RATES FOR ALL LOAN ACCOUNTS | |||||
| REBATE | NET | ||||
| JOINT/LONG LOAN | 10.00% | - | 10.00% | ||
| INSTALMENT LOAN | 15.00% | 2.00% | 13.00% | ||
| PERSONAL INSTALMENT LOAN | 13.00% | - | 13.00% | ||
| VASAVI INSTALMENT LOAN (30 MONTHS) | 15.00% | 3.00% | 12.00% | ||
| VASAVAMBA HOUSING LOAN (216 MONTHS) | 9.50% | - | 9.50% | ||
| KANNIKA INSTALMENT LOAN (90 DAYS) | 15.00% | 5.50% | 9.50% | ||
| KANNIKA TERM LOAN (12 MONTHS) | 9.90% | - | 9.90% | ||
| VEHICLE LOAN: (a) NEW VEHICLE | 14.00% | 1.00% | 13.00% | ||
| (b) OLD VEHICLE | 15.00% | 1.00% | 14.00% | ||
| (c) PERSONAL CAR LOANS upto 60 Months | 11.00% | 1.50% | 9.50% | ||
| VASAVI VEHICLE LOAN | 9.00% | - | 9.00% | ||
| VASAVI HOUSING LOAN | 15.50% | - | 15.50% | ||
| MACHINERY LOAN | 14.50% | 1.00% | 13.50% | ||
| GOLD LOAN | 12.00% | 3.00% | 9.00% | ||
| NSC/LIC LOAN | 14.00% | - | 14.00% | ||
| VASAVI GENERAL HOUSING LOAN - upto 25 Lakhs | 12.00% | 1.00% | 11.00% | ||
| VASAVI GENERAL HOUSING LOAN - above 25 Lakhs | 14.00% | 1.50% | 12.50% | ||
| KANNIKA HOUSING LOAN | 14.00% | 4.50% | 9.50% | ||
| WARE HOUSE RECEIPT/GODOWN LOAN | 12.00% | 2.50% | 9.50% | ||
| SRI LAKSHMI CASH CREDIT / INSTALMENT LOAN (ABOVE 3 CRORE) | 15.00% | 2.50% | 12.50% | ||
| CASH CREDIT LOAN | 15.00% | - | 15.00% | ||
| VASAVI CASH CREDIT LOAN | 15.00% | 4.00% | 11.00% | ||
| NOTE: | |||||
| (1)THE PENAL INTEREST @ 2% P.A. ABOVE THE INTEREST ON OVERDUE AMOUNT & NON RENEWAL OF CC LIMITS NON | |||||
| SUBMISSION OF MONTHLY STOCK STATEMENT & AUDITED / UNAUDITED FINANCIAL STATEMENTS ON ANNUAL BASIS, | |||||
| THIS BE FOLLOWED SCRUPULOUSLY. | |||||
| (2) 2% PENAL INTEREST TO BE COLLECTED ABOVE THE INTEREST ON OVERDUE AMOUNT OF ALL LOANS SUBJECT TO | |||||
| CONCERNED LOAN SANCTION CONDITIONS | |||||
| (3) 1% EXTRA INTEREST TO BE COLLECTED ON REPAYMENT OF GODOWN/WARE HOUSE LOAN AFTER 90 DAYS AS PER | |||||
| SANCTION CONDITIONS APART FROM 2% PENAL INTEREST |