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. |
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 |
1.00% 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 Rs.100.00 or |
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
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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.
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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.
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The rate of interest increased/decreased on loans be charged after proper notice to the borrower w.e.f. 01-04-2017.
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The rates on the advances to ladies entrepreneur shall be ½ % less than the prescribed rates.
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The rates on the advances to ex-servicemen shall be ½ % less than the prescribed rates.