Loan Interest Rate
In the competitive era of banking, the loan limit and interest rates of diversification loan schemes have been revised from time to time by nationalized banks and apex banks. In the order of Bank Chairman's permission Dated - 23.10.2020, the loan limit and interest rates of the diversification loan scheme have been amended as follows-
Interest Rates On Different Types Of Loans w.e.f. 01.11.2020 :
| Sr. No. | Name of Scheme | Maximum loan limit | Amount | Currently prevailing interest rate charged on loans | Interest Rate w.e.f. 01/11/2020 |
| 1. | Loans to Salaried Co-operative Societies | ___ | ___ |
11.00 |
9.80 |
| 2. | Personal Loan for Household Goods | 5.00 Lakh | ___ |
11.00 | 11.00 |
| 3. | N.S.C/Loan by binding Kisan Vikas Patras in favor of the bank | Against the certificate 75% | ___ | 12.50 | 12.00 |
| 4. | Gyandeep Education Scheme (Anyone of the applicant's father / mother or legal guardian will be made) | 5.00 | Upto Rs.5 lac |
M-11% F-10.50% |
9.30 |
| 5. | Loan scheme for house construction/repair/conversion/addition (sixty months salary for salaried and other borrowers) | 15.00 |
Upto Rs.5 lac Above Rs. 5lac |
10.00 10.50 |
8.00 8.50 |
| 6. | Rural Housing Financing | 5.00 |
Upto Rs.3 lac Above Rs. 3 lac |
10.50 11.00 |
8.00 8.50 |
| 7. | Pandit Deendayal Upadhyay Sahakari Swarozgar Yojana | 5.00 | Upto Rs.5 lac | 10.00 | 9.00 |
| 8. | Vehicle loan (will be payable to salaried and other types of borrowers and also to state cadre officers/taxi/private vehicle founder and for personal use) | 15.00 | Upto Rs.15 lac | 9.50 | 8.00 |
| 9. | Mortgage / Vision Mortgage Loans to Commercial / Firms (Loan limit sanctioned by the Managing Committee restricted under NABARD Exposure Norms) other than Sugar Mills | 25.00 | Rs.1.00 lac. upto 25.00 lac. | 11.50 | 9.50 |
| 10. | Loan Details under Agricultural Mechanization | 10.00 |
Up to Rs.10.00 lac. | 11.00 | 8.50 |
| 11. | Loan for setting up Cyber ​​cafe | 5.00 | Up to Rs.5.00 lac. | 11.50 | 10.00 |
| 12. | Loan for Flour mill, Mini Rice mill, Dalmil, Telgani | 10.00 |
Up to Rs.5.00 lac. Above Rs. 5.00 lac. |
11.00 11.50 |
9.00 9.50 |
| 13. | Loan for Photocopy Machine and Fax machine | 5.00 | Up to Rs. 5.00 lac. | 11.00 | 10.00 |
Therefore, you are directed to get the application forms/files prepared under the diversification loan/loan limits at the revised rate from the branch level as per rules. Ensure loan disbursement only after getting the loan approved from the competent level. The revised interest rates will be effective from 01.11.2020. The interest rates for the loans disbursed earlier will remain the same.
As above, there will be a one percent rebate on loans given to bank employees/officers.
Note:-For more details,please contact Barabanki District Co-Operative Bank Ltd. nearest Branch.
