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Interest Rates

Interest Rate on Deposit:

Savings Deposit:
  Rate of Interest Minimum Balance
Domestic Savings Bank Account
Normal Senior Citizen
Rural Semi Urban Urban
a. With Cheque Book Facility
4% p.a 4% p.a
Rs. 500 Rs. 500 Rs. 500
b. Without Cheque Book facility
4% p.a 4% p.a
Rs. 50 Rs. 100 Rs. 100
c. No Frill Account
4% p.a 4% p.a
0 0 0
Domestic Retail Term Deposit:
Sl No. Period of Deposit Revised Rate w.e.f 01.05.2011
   
Other than Senior Citizen Senior Citizen
1 15 days to 29 days
5.00% p.a 5.00% p.a
2 30 days to 45 days
5.50% p.a 5.50% p.a
3 46 days to 90 days
6.50% p.a 6.50% p.a
4 91 days to 180 days
7.00% p.a 7.00% p.a
5 181 days to 269 days
8.00% p.a 8.00% p.a
6 270 days to less than 1 year
8.50% p.a 8.50% p.a
7 1 year to less than 3 years
8.75% p.a 9.50% p.a
8 3 years and above
9.00% p.a 9.75% p.a
Premature closure of Term Deposit would attract penalty as per following table:
Particulars Penalty
Premature withdrawal within 14 days from the date of deposit No interest will be paid
Premature withdrawal beyond 14 days from the date of deposit 1% penal interest will be levied
Renewal Deposit for higher rate of deposit No penal charges

 

Interest Rate on Loans & Adv (Rates of interest w.e.f 01.07.2013):

A. Advance to Micro & Small Industries /Enterprises (Including Retail Trade upto Rs 20.00 lakh) without CGTMSE Cover:
Sl No. Category of Advance Rate of interest
1 Limit upto Rs 25000/- BR i.e 10.25%
2 Limit over Rs 25000/- and upto Rs 50000/- BR+ 0.50% i.e 10.75%
3 Limit over Rs 50000/- and upto Rs 10.00 lakh- BR+ 1.50% i.e 11.75%
4 Limit over Rs 10.00 lakh- and upto Rs 100.00 lakh BR+ 2.00% i.e 12.25%
B. Advance to Micro & Small Industries /Enterprises (Including Retail Trade upto Rs 20.00 lakh) with CGTMSE Cover:
Sl No. Category of Advance Rate of interest
1 Limit upto Rs 25000/- BR i.e 10.25%
2 Limit over Rs 25000/- and upto Rs 50000/- BR+ 0.50% i.e 10.75 %
3 Limit over Rs 50000/- and upto Rs 10.00 lakh- BR+ 1.00% i.e 11.25 %
4 Limit over Rs 10.00 lakh- and upto Rs 100.00 lakh BR+ 1.50% i.e 11.75 %
C. Special rates of Interest for Rice Mill, Flour Mill, Oil & Dal Mill falling under Priority Sector (Micro & Small Enterprise- Manufacturing) :
Sl No. Category of Advance Rate of interest
1 Accounts with Credit Risk Rating upto BGVBCR-3 BR+ 1.25% i.e. 11.50 %
2 Accounts with Credit Risk Rating inferior to BGVBCR-3 BR+ 2.50% i.e. 12.75 %
3 Cold Storage with Credit Risk Rating of BGVBCR-3 BR+ 1.00% i.e. 11.25 %
4 Cold Storage with Credit Risk Rating inferior to BGVBCR-3 BR+ 1.50% i.e. 11.75 %
D. Rates of Interest for Rice Mill, Flour Mill, Oil & Dal Mill falling under Non- Priority Sector for Loans above Rs 10.00 lakh :
Sl No. Category of Advance Limit above Rs 10.00 lakh and upto 10.00 crore Limit above Rs 10.00 lakh
1 BGVBCR-0 BR+ 2.50% i.e. 12.75 % BR+ 2.25 % i.e. 12.50 %
2 BGVBCR-1 BR+ 3.00% i.e. 13 .25 % BR+ 2.75 % i.e. 13.00 %
3 BGVBCR-2 BR+ 3.50 % i.e. 13.75 % BR+ 3.25 % i.e. 13.50 %
4 BGVBCR-3 BR+ 4.00% i.e. 14.25 % BR+ 3.75 % i.e. 14.00 %
5 BGVBCR-4 BR+ 4.25 % i.e. 14.50 % BR+ 4.00% i.e. 14.25 %
6 BGVBCR-5 BR+ 4.25 % i.e. 14.50 % BR+ 4.25 % i.e. 14.50 %
E. Loans having limit above Rs 1.00 crore under Micro Enterprise Sector (Both Manufacturing & Service):
Sl No. Category of Advance Card Rate Concession Effective Rate
1 BGVBCR-0 BR+ 1.00% Nil 11.25%
2 BGVBCR-1 BR+ 2.00% 0.50% 11.75%
3 BGVBCR-2 BR+ 3.25% 0.75% 12.75%
4 BGVBCR-3 BR+ 4.25% 1.25% 13.25%
5 BGVBCR-4 BR+ 4.75% Nil 15.00%
6 BGVBCR-5 BR+ 6.00% Nil 16.25%
F. Loans having limit above Rs 1.00 crore under Small Enterprise Sector (Both Manufacturing & Service):
Sl No. Category of Advance Card Rate Concession Effective Rate
1 BGVBCR-0 BR+ 1.50% 0.50% 11.25%
2 BGVBCR-1 BR+ 2.50% 1.00% 11.75%
3 BGVBCR-2 BR+ 3.75% 1.25% 12.75%
4 BGVBCR-3 BR+ 4.75% 1.75% 13.25%
5 BGVBCR-4 BR+ 5.25% 0.50% 15.00%
6 BGVBCR-5 BR+ 6.00% Nil 16.25%
G. Loans under Non Priority Medium Enterprise (Both Manufacturing & Service):
Sl No. A. Aggregate Limit over Rs 10.00 lakh and upto Rs 15.00 crore Card Rate Concession Effective Rate
1 BGVBCR-0 BR+ 4.00% 2.00% 12.25%
2 BGVBCR-1 BR+ 4.50% 2.00% 12.75%
3 BGVBCR-2 BR+ 5.00% 2.25% 13.00%
4 BGVBCR-3 BR+ 5.50% 2.50% 13.25%
5 BGVBCR-4 BR+ 5.75% 0.75% 15.25%
6 BGVBCR-5 BR+ 6.00% Nil 16.25%
Sl No. B. Aggregate Limit over Rs 15.00 crore Card Rate Concession Effective Rate
1 BGVBCR-0 BR+ 3.75% 2.00% 12.00%
2 BGVBCR-1 BR+ 4.25% 2.00% 12.50%
3 BGVBCR-2 BR+ 5.00% 2.50% 12.75%
4 BGVBCR-3 BR+ 5.50% 2.75% 13.00%
5 BGVBCR-4 BR+ 5.75% 0.75% 15.25%
6 BGVBCR-5 BR+ 6.00% Nil 16.25%
Rate of Interest on Advance Products other than Retail Credit/MSME Base Rate (BR) -10.25% p. a w.e. f 01.05.2013 :
Sl No. Category of Advance Rate of Interest
1 For Term Loan/Cash Credit (Non Schematic / Non Priority- Non- MSME)
a. Limit upto Rs 25000/- BR+ 3.25 % i.e. 13.50%
b. Limit over Rs 25000/- and upto Rs 2.00 lakh BR+ 3.50 % i.e. 13.75%
c. Limit over Rs 25000/- and upto Rs 10.00 lakh BR+ 4.75 % i.e. 15.00%
d. Aggregate Limit over Rs 10.00 lakh to Rs 10.00 crore
i. BGVBCR-0 BR+ 4.00 % i.e. 14.25%
ii. BGVBCR-1 BR+ 4.50 % i.e. 14.75%
iii. BGVBCR-2 BR+ 5.00 % i.e. 15.25%
iv. BGVBCR-3 BR+ 5.50 % i.e. 15.75%
v. BGVBCR-4 BR+ 5.75 % i.e. 16.00%
vi. BGVBCR-5 BR+ 6.00% i.e. 16.25%
e. Aggregate Limit over Rs 10.00 crore
i. BGVBCR-0 BR+ 3.75 % i.e. 14.00%
ii. BGVBCR-1 BR+ 4.25 % i.e. 14.50%
iii. BGVBCR-2 BR+ 5.00 % i.e. 15.25%
iv. BGVBCR-3 BR+ 5.50 % i.e. 15.75%
v. BGVBCR-4 BR+ 5.75 % i.e. 16.00%
vi. BGVBCR-5 BR+ 6.00% i.e. 16.25%
Tenor Premium @ 0.25% is to be added to the card rate for Project Loan, where interest reset clause is more than one year.
Sl No. Category of Advance Rate of Interest
2. Agriculture (Term Loan/Cash Credit/KCC/Self Help Group(SHG)/NGO/MFI/Micro Credit/all schematic agriculture loan products i.e BGVB Krishak Jyoti,ZBGVB Mahajan Mukti etc
i. Limit upto Rs 50000/- BR+ 0.25% i.e. 10.50 %
ii. Limit above Rs 50000/- and upto Rs 200000/- BR+ 1.75% i.e. 12.00 %
iii. Limit above Rs 200000/- and upto Rs 500000/- BR+ 2.75% i.e. 13.00 %
iv. Limit above Rs 500000/- and upto Rs 1000000/- BR+ 3.75% i.e. 14.00 %
Limit above Rs 1000000/- rate of interest as per credit risk rating are as under.
i. BGVBCR-0 BR+ 2.00 % i.e. 12.25 %
ii. BGVBCR-1 BR+ 2.75% i.e. 13.00 %
iii. BGVBCR-2 BR+ 3.75% i.e. 14.00 %
iv. BGVBCR-3 BR+ 4.50% i.e. 14.75 %
v. BGVBCR-4 BR+ 5.00% i.e. 15.25 %
vi. BGVBCR-5 BR+ 6.00% i.e. 16.25 %
Sl No. Category of Advance Rate of Interest
3. Crop Loan
i. Upto Rs 3.00 lakh per borrower a) A) 7% p.a payable as per norms on due dates or half yearly basis. (Subject to interest subvention to be guided by Circular no BGVB/ HO/ ACCOUNTS /430 /2011 dated 27.01.2011. B) After overdue @9% p.a.
ii. Beyond Rs 3.00 lakh per borrower Rate applicable in case of Agricultural Term Loan scheduled Para 7 above.
Sl No. Category of Advance Rate of Interest
4. Relief Measure
i. Funding of unpaid interest to be converted into FITL Nil
ii. Conversion of irregular portion of cash credit account into WCTL 1.5% below the applicable rate for MSE category
iii. Working Capital including additional capital 1.5% below the applicable rate for MSE category but not below the base rate.
iv. Existing Term Loan 3.00 % below the applicable rate for Micro Enterprise and 2.00% below the applicable rate for Small Enterprise but not below the base rate.
v. Fresh Rehabilitation Term Loan 1.5% below the applicable rate for MSE category but not below the base rate
Sl No. Category of Advance Rate of Interest
5. Ad Hoc Limit
i. Any admissible amount 2% p. a over and above the rate applicable to normal limit.
E. Special rates of interest for Bank's own scheme under Priority Sector:
Sl No. Scheme Rate of Interest
   
Existing Revised
1 Rice Mill with credit rating of BGVBCR3 or better
10.50% p.a 11.00% p.a
2 Rice Mill with credit rating inferior to BGVBCR3
11.50% p.a 11.50% p.a
3 Cold Storage with risk rating BGVBCR3 or better
9.50% p.a 11.00% p.a
4 Cold Storage with risk rating inferior to BGVBCR3
10.00% p.a 11.50% p.a
F. Agriculture advances having limits over ' 10.00 lakh, applicable rate of interest as per Credit Risk Rating is as follows:
Sl No.   Rate of Interest
1 Upto Rs 3.00 lakh per borrower a. 7% p.a payable as per norms on due dates or half yearly basis. (Subject to interest subvention to be guided by Circular no BGVB/ HO/ ACCOUNTS /430 /2011 dated 27.01.2011.

b. After overdue as applicable in case of Agricultural Term Loan scheduled in (C) or (D) above.
2 Beyond Rs 3.00 lakh per borrower Rate applicable in case of Agricultural Term Loan scheduled in (C) or (D) above
G. Direct Finance to SHGs:
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Upto ' 50000.00 per member
10.25% p.a 10.50% p.a
2 Over ' 50000.00 per member
12.25% p.a 12.00% p.a
H. Indirect Finance to SHGs through NGOs/MFIs:
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 NGOs/MFIs for on lending to SHGs
10.50%p.a 11.50% p.a
I. BGVB Sabujayan Prakalpa:
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Any admissible amount
12.00% p.a 12.00% p.a
J. BGVB Krishak Jyoti Prakalpa:
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Any admissible amount
11.00% p.a 11.00% p.a
K. Banga Kutir Prakalpa:
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Any admissible amount
11.00% p.a 11.50% p.a
L. Term Loan/Cash Credit (Non-schematic and Non-priority including Medium Enterprise and Retail Trade more than Rs.20 Lac):
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Upto ' 25000.00
11.50% p.a 13.25% p.a
2 Over ' 25000.00 to ' 200000.00
12.00% p.a 13.50% p.a
3 Over ' 200000.00 to ' 1000000.00
13.00% p.a 14.00% p.a
M. Term Loan / Cash Credit (Non-schematic and Non-priority including Medium Enterprise and Retail Trade more than Rs.20 Lac) with sanctioned limit over ' 1000000.00 lakh only:
Sl No. Particulars Rate of Interest
   
Existing Revised
1 BGVBCR0
12.00% p.a 13.00% p.a
2 BGVBCR1
12.25% p.a 13.50% p.a
3 BGVBCR2
12.50% p.a 14.00% p.a
4 BGVBCR3
13.00% p.a 14.50% p.a
5 BGVBCR4
14.00% p.a 15.50% p.a
6 BGVBCR5
15.50% p.a 16.50% p.a
N. Clean Overdraft:
Sl No. Particulars Rate of Interest
   
Existing Revised
1 Staff
12.25% p.a 12.25% p.a
2 Other than Staff
15.50% p.a 16.50% p.a
O. BGVB Housing Loan Scheme:
Sl No.   Rate of Interest
1 Fixed rate
Existing Revised
   
Repayment Period Upto ' 20.00 lakh Upto ' 20.00 lakh
No Fixed rate, only floating rate is applicable
   
Upto 5 years 10.75% p.a 11.75% p.a
 
   
Over 5 years upto 10 years 11.25% p.a 12.25% p.a
 
   
Over 10 years No Fixed Rate
 
2 Floating Rate
Existing Revised
   
Repayment Period Upto ' 20.00 lakh Upto ' 20.00 lakh
Repayment Period Upto ' 25.00 lakh Upto ' 35.00 lakh Over ' 35.00 lakh
   
Upto 5 years 8.50% p.a 9.50% p.a
Upto 5 years 10.75% p.a 11.00% p.a 11.25% p.a
   
Over 5 years upto 10 years 9.50% p.a 10.00% p.a
Over 5 years upto 15 years 11.00% p.a 11.25% p.a 11.50% p.a
   
Over 10 years 9.75% p.a 10.50% p.a
Over 15 years to 20 years 11.25% p.a 11.50% p.a 11.75% p.a
  1. A reduction of 0.25% p.a in the interest shall be allowed if 50% of the housing loan is additionally secured by way of Bank's own Term Deposit or
  2. A reduction of 0.25% p.a in the interest shall be allowed if the housing loan is covered under Housing Loan Protector Scheme with Bajaj Allianz Life Insurance Company.
  3. No concession is available for loans up to 5 years except in case of housing loans given to the staff members.
  4. In case of housing loan to the members of the staff of the Bank an additional concession of 0.25% in the interest rate is allowed across the board. Under no circumstances aggregate concession will exceed 0.50%.
P. BGVB Consumer Loan Scheme (Floating Rate):
Sl No. Particulars Rate of Interest
   
Existing Revised
1 Individual
12.50 % p.a 16.00% p.a
Q. BGVB Car Loan Scheme (Floating Rate):
Sl No. Repayment Period Rate of Interest
   
Existing Revised
1 Up to 3 years (New Car)
12.00% p.a 12.00% p.a
2 Over 3 Years (New Car)
12.50% p.a 12.50% p.a
3 Up to 3 years (Old Car)
13.00% p.a 13.50% p.a
4 Over 3 Years (Old Car)
13.00% p.a 14.00% p.a
R. BGVB Griha Sangrakshan Yojana (Floating Rate):
Sl No. Repayment Period Rate of Interest
   
Existing Revised
1 Upto 5 years
12.00% p.a 12.00% p.a
2 Above 5 years upto 15 years
12.50% p.a 12.50% p.a
S. BGVB Education Loan (Floating Rate):
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Upto ' 4.00 lakh
10.25% p.a 12.00% p.a
2 Above ' 4.00 lakh
11.00% p.a 12.75% p.a
A concession of 1% p.a in the rate of interest shall be allowed up to the moratorium period only if the interest is serviced during the moratorium period..
T. BGVB Personal Loan (Floating Rate):
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Any admissible amount
12.50% p.a 12.50% p.a
U. BGVB Salary Payment Scheme (Floating Rate):
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Any admissible amount
12.50% p.a 12.50% p.a
V. BGVB Festival Loan Scheme (Floating Rate):
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Any admissible amount
12.50% p.a 12.50% p.a
W. BGVB Mortgage Loan / BGVB Trade Credit:
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Term Loan
13.50% p.a 14.50% p.a
2 Overdraft (BGVB Trade Credit)
13.50% p.a 15.00% p.a
{A concession of 0.25% will be allowed for every 25(of the limit) financial collateral provided.}
X. BGVB Cash Rental Scheme (Floating Rate):
Sl No.   Rate of Interest
   
Existing Revised
1 Other than landlords of BGVB Branches
12.75% p.a 13.75% p.a
2 Landlords
12.25% p.a 13.25% p.a
Y. Loans against Bank's Own Term Deposits:
Sl No. Particulars Rate of Interest
   
Existing Revised
1 Loan/Overdraft against Bank's own Term Deposit at 10% margin on current accrued value of Deposit
1.5% p.a over the rate of deposit subject to minimum 10.00% p.a 1.5% p.a over the rate of deposit.
2 Loan/Overdraft against Bank's Mini Deposit at 10% margin on current accrued value of Deposit
10.00% p.a 10.00% p.a
Z. Loan against LIP (SV)/NSC/KVP etc (Floating Rate):
Sl No. Particulars Rate of Interest
   
Existing Revised
1 Term Loan
12.50% p.a 12.50% p.a
2 Overdraft
12.50% p.a 13.50% p.a
Maximum admissible amount of such loan will be as under
1 Against LIP (Surrender Value) 90% of the S.V
Against NSC/KVP, depending upon the period remaining to maturity as follows
1 1 year or less 95%
2 1 year to less than 2 years 90%
3 2 years to less than 3 years 85%
4 3 years to less than 4 years 80%
5 4 years to less than 5 years 75%
6 5 years and above 70%
Ad Hoc Limit:
Sl No. Sanctioned Limit Rate of Interest
   
Existing Revised
1 Any admissible amount
2% p.a over and above the rate applicable to normal limit 2% p.a over and above the rate applicable to normal limit
 
 
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