Interest Rates


  • a): Interest on Loans and Advance w.e.f. 10-10-2020 Download Pdf

Rate of interest on Loans & Advances effective from 10.10.2020


Last revision in the interest rate on advance products with realignment of spreads in different segments of the interest structure of the Bank was made vide the Circular No BGVB /HO /CREDIT/ 120/2020 dated 08.09.2020, wherein MCLR was fixed at 8.35% (Y) p.a with effect from 10.09.2020.


It has since been decided to revise Bank’s MCLR w.e.f. 10.10.2020 as furnished in the table below:


MCLR Revised w.e.f 10.10.2020
MCLR (One Year)

9.00%

MCLR Overnight

8.25%

MCLR 1 Month

8.20%

MCLR 3 month

8.15%

MCLR 6 Month

8.10%



Interest on Deposits Rates Effective from 10-09-2020


Period of Deposits
Exiting Rate
(General)
Existing Rate
(Senior citizen)
Revised Rate
(General)
Revised Rate
(Senior citizen)

7 days to 14 days

4.00

4.00

3.00

3.00

15 days to 29 days

4.00

4.00

3.00

3.00

30 days to 45 days

4.00

4.00

3.00

3.00

46 days to 90 days

4.50

4.50

3.25

3.25

91 days to 180 days

5.00

5.00

4.25

4.25

181 days to 269 days

5.75

5.75

4.50

4.50

270 days to less than 1 year

5.75

5.75

4.75

4.75

One Year

6.00

6.50

5.50

6.00

Above 1 year to less than 3 years

6.00

6.50

5.50

6.00

3 years and above

5.75

6.25

5.50

6.00



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