Interest Rates

The Baghat Urban Co-operative Bank Ltd., is offering the following interest for the various loans and advances schemes -

Type of Loan

Amount Limit

Int. Rate

Consumption Loan Any Loan of such Kind 12.50%
Loan against Salary
Personal Loan

Up to Rs.1.0 Lac

Above Rs. 1.0 Lac to Rs. 2.0 Lac

Any amount as per repayment capacity. The Installment should be deducted from salary bill. In case installment not deducted from salary bill the interest shall be applicable 1% higher than normal rate. 
For New Customer i.e. whose a/c is opened within six months

13.50%

13.50%







14.00%
Loan against NSC/KVP/LIC Any Loan of such Kind 12.50%

Loan against Banks Own Terms Deposit

Against own deposit
Against third party deposit 

1.00% above deposit rate
2.00% above deposit rate

On clean Overdraft   21.00%
Letter of Credit Any Limit 12.00%

Bills/cheques purchase/ discounted

Minimum Charges against Govt. Cheques

 

For other Cheques

Rs.100.00  or
Paisa .35 per 1000.00 for First 7 Days after 7 days  int. @ 18 % p.a.

Rs.100.00  or
Paisa 35 per 1000.00 for First 7 Days after 7 days  int. @ 21 % p.a.

Temporary Limit 1 Day but less than 45 days

45 Days but less than 3 months

3 months but less than 6 months
15.00%

15.25%

16.00%
Mortgage Loan against property (on submission of income proof in form of ITR) Non-encumbered residential house/ flat or commercial or industrial property (In the shape of building/industrial shed) - self occupied or vacant.

12.00% p.a.

Please Note

  • The incumbent branches are to charge interest on overdraft immediately after the adjustment of overdraft / on monthly basis. On switching over of any loan to another Bank charge @ 2 % extra.

  • The loans which have come in default category even with single installment shall be charged 2% penal interest. This clause shall be applicable to all loan cases. The interest as such shall also be calculated on monthly basis.

  • The rate of interest increased/decreased  on loans be charged after proper notice to the borrower w.e.f. 01-04-2017.

  • The rates on the advances to ladies entrepreneur shall be ½ % less than the prescribed rates.

  • The rates on the advances to ex-servicemen shall be ½ % less than the prescribed rates.