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 Interest Rate
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LAKSHMI VILAS BANK , Admin Office , Karur
Rate at a quick glance
Deposit Accounts
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ACCOUNT
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NORMAL
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SENIOR CITIZEN
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RURAL
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SEMI URBAN
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URBAN
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1.Savings Bank A/c
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A. Domestic
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Rate of Interest
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Minimum Balance to be maintained
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a. With cheque book facility
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4%
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4%
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500
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500
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500
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b. Without cheque book facility
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4%
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4%
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100
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100
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100
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c. No frills account
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4%
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4%
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10
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10
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10
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B.Non resident
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a.NRO
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4%
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4%
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b.NRE
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4%
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4%
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2.Term deposits
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A.DOMESTIC
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| Rate of Interest with effect from 1/08/2011 |
Click here for Interest Calculator
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Term deposits(All Maturities)
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NORMAL
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SENIOR CITIZEN
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15-29 Days
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3.25%
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3.25%
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30-45 Days
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3.75%
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3.75%
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46-90 days
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6.00%
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6.00%
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91-180 days
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8.00%
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8.00%
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181-270 days
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8.25%
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8.25%
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271-364days
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8.50%
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8.50%
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1year-less than 2 years
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10.50%
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10.75%
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2years-less than 3 years
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9.75%
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10.50%
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3 years- Up to 5 years
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9.50%
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10.25%
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Above 5 years
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9.00%
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9.75%
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Deposit
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Regular
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Senior Citizen
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Lakshmi Tax Saver Deposits - w.e.f 01.03.2011
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9.00%
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9.25%
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Deposit
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Interest Rate
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Amount Payable on Maturity
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Lakshmi Lakhpathy Recurring Deposits - w.e.f 09.05.11 ; Duration 84 months @ Rs.1000/- per month.
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9.00%
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Rs. 1,15,901/-
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B.Non-Resident accounts
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a.NRO(All maturities) --> Same as Domestic
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b.NRE(All Maturities) with effect from 22.12.2011
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1 year to below 2 years
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10.00%
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2 years to below 3 years
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8.00%
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3 years & above
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7.00%
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C. FCNR(B) -- RATE OF INTEREST with effect from 01.02.2012
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1year &above but<2years
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2years&above but<3 years
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3year &above but<4years
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4year &above but<5years
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For 5 years(Maximum)
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C.FCNR(B)
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1. USD
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2.35
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1.78
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1.87
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2.06
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2.30
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2.GBP
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3.14
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2.49
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2.51
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2.63
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2.75
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3.EUR
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2.98
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2.42
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2.50
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2.66
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2.85
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4.CAD
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3.12
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2.44
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2.50
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2.61
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2.75
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5.AUD
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6.13
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5.09
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5.13
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5.37
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5.50
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6.CHF
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1.59
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1.37
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1.42
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1.57
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1.72
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7.SGD
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No Quote
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8.SEK
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4.14
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3.12
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3.11
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3.14
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3.25
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9.JPY
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1.80
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1.62
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1.63
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1.67
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1.72
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D. RFC -- RATE OF INTEREST with effect from 01.02.2012
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1 month to < 6 months
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6 months to < 1 year
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1 year
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D.RFC
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1. USD
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0.26
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0.78
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1.10
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2.GBP
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0.77
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1.39
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1.38
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3. EUR
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0.66
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1.38
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1.74
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RFC SB
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US DOLLARS - 0.05%
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| Interest rates on loans & advances – with effect from 01.08.2011 |
Facility/product-wise interest rates under the Base Rate system
Sector: Industry, Trade & Services
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Sl. No.
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Loan facility/product
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Interest Rate
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1.
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WC credit facilities & Term Loan credit facilities
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Base Rate + product - specific operating costs + Credit Risk & Tenor Risk Premia
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2.
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Advances under Lakshmi Business Credit (LBC) scheme
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Base Rate + 3.25% to 3.75%
(PER: 14.25% p.a. to 14.75% p.a )
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Sector: Bill Advances
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Sl. No.
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Loan facility/product
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Interest Rate
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1.
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Bills Purchased Documentary (BPD), Bills Purchased (Supply Bills) & (Drawee Bills) & UBD (Clean)
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Base Rate + product - specific operating costs + Credit Risk & Tenor Risk Premia
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2.
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Sight Bills Purchased under LCs – BP (Ag. LC)
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At Base Rate (PER: 11.00% p.a.)
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3.
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Usance Bills Discounted under LCs - UBD (Ag.LC)
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Usance period:
Up to 90 days: Base Rate + 1.00% (PER: 12.00% p.a.)
91 to 180 days: Base Rate + 1.50% (PER: 12.50% p.a.)
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4.
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Bills Purchased (Clean) – BPC: Interest to be charged on returned cheques
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Base Rate + 7.35% (PER: 18.35% p.a.)
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Sector: Agriculture
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Sl. No.
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Loan facility/product
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Interest Rate
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1.
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Agri. Cash Credit & Agri. Term Loans (excluding Short Term Crop Loans and Lakshmi Kisan Credit Card)
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Loan facilities:
Up to Rs.50,000: Base Rate + 3% (PER: 14.00 % p.a.)
Above Rs.50,000 and up to Rs.2.00 lacs: Base Rate + 3.50% (PER: 14.50% p.a.)
Above Rs.2.00 lacs and up to Rs.20.00 lacs: Base Rate + 4% (PER: 15.00% p.a.)
Above Rs.20.00 lacs:
Base Rate + 4.50% (PER: 15.50% p.a.)
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2.
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Short Term Crop Loans and Lakshmi Kisan Credit Card
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Loan facilities:
Up to Rs.50,000: Base Rate + 1.50% (PER: 12.50% p.a.)
Above Rs.50,000 and up to Rs.2.00 lacs: Base Rate + 3.50% (PER: 14.50% p.a.)
Above Rs.2.00 lacs and up to Rs.20.00 lacs: Base Rate + 4% (PER: 15.00% p.a.)
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3.
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Jewel Deposit Loan (JDL-Agri.)
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Base Rate (PER: 11.00% p.a.)
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4.
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Lakshmi Gold Power (Agri.)
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Base Rate + 1% (PER: 12.00% p.a.)
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Sector: Export Credit:
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Sl. No.
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Loan facility/product
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Interest Rate
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1.
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Pre-shipment Credit
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Up to 270 days: Base Rate + 2.75% (PER: 13.75% p.a.)
271 to 360 days: Base Rate + 6.75% (PER: 17.75% p.a.)
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2.
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Post- shipment Credit
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Sight bills &Usance bills up to 180 days: Base Rate + 2.75% (PER: 13.75% p.a.)
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3.
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Export Credit against incentive receivables, etc.
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Base Rate + 2.75% (PER: 13.75% p.a.)
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4.
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Deferred Credit
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Beyond 90 days: Base Rate + 7.35% (PER: 18.35% p.a.)
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5.
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Export credit not otherwise specified (ECNOS)
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Overdue Pre-shipment Credit & PCLs
beyond 360 days: Base Rate + 7.35% (PER: 18.35% p.a.)
Overdue Post-shipment Credit & Export Bills up to 180 days: Base Rate + 2.75% (PER: 13.75% p.a.)
Overdue Post-shipment Credit & Export Bills beyond 180 days: Base Rate + 7.35% (PER: 18.35% p.a.)
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Sector: Personal segment loans
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Sl. No.
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Loan facility/product
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Interest Rate
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1.
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Lakshmi Home Loans – Variable rate loans
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Loans of up to Rs.30.00 lacs:
Loans repayable in 5 years: Base Rate + 1.50% (PER: 12.50% p.a.)
Loans repayable in 5 to 15 years: Base Rate + 1.75% (PER: 12.75% p.a.)
Loans of above Rs.30.00 lacs:
Loans repayable in 5 years: Base Rate + 1.75% (PER: 12.75% p.a.)
Loans repayable in 5 to 15 years: Base Rate + 2% (PER: 13.00% p.a.)
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2.
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Lakshmi Personal Vehicle Loans
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New vehicles: Base Rate + 2.00% (PER: 13.00% p.a.)
Used 4-wheelers: Base Rate + 4.50% (PER: 15.50% p.a.)
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3.
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Advances to individuals against corporate debt instruments and units of approved mutual funds
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Base Rate + 7.35% (PER: 18.35% p.a.)
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4.
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Lakshmi Easy Loan (OD/DL against govt. securities)
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Base Rate + 3.75% (PER: 14.75% p.a.)
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5.
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Advances to individuals against shares & debentures
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Base Rate + 7.35% (PER: 18.35% p.a.)
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6.
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IPO finance to individuals
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Base Rate + 5.25% (PER: 16.25% p.a.)
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7.
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Vidya Lakshmi Loans – Boy Students
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Up to Rs.4.00 lacs: Base Rate + 6.25% (PER: 17.25% p.a.)
Above Rs.4.00 lacs: Base Rate + 7.25% (PER: 18.25% p.a.)
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8.
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Vidya Lakshmi Loans – Girl Students
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Up to Rs.4.00 lacs: Base Rate + 5.75% (PER: 16.75% p.a.)
Above Rs.4.00 lacs: Base Rate + 6.75% (PER: 17.75% p.a.)
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9.
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Jewel Deposit Loan (JDL - Non-Agri.)
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Base Rate + 3.50% (PER: 14.50% p.a.)
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10.
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Lakshmi Gold Power (Non-Agri.)
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Base Rate + 4.00% (PER: 15.00% p.a.)
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Sector: Others
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Sl. No.
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Loan facility/product
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Interest Rate
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1.
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Loans/overdrafts against our Bank’s deposits (Domestic Rupee deposits & NRE deposits) to depositors against own deposits
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For loan amounts up to 75% of the deposit amount: 1% over the interest rate paid on the relative deposit.
For loan amounts above 75% & up to 90% of the deposit amount: An additional interest rate of 1% will be chargeable for the amount of the loan drawn in excess of 75% of the deposit amount.
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2.
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Loans/overdrafts against our Bank’s deposits (Domestic Rupee deposits & NRE deposits) to borrowers other than depositors against third-party deposits
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Base Rate + applicable spread/customer specific charges or 2% over the interest rate paid on the relative deposit, whichever is higher.
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3.
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Drawals against un-cleared effects
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Base Rate + 7.35% (PER: 18.35% p.a.)
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4.
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Purchase of local clearing instruments
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Base Rate + 7.35% (PER: 18.35% p.a.)
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5.
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Overdues by way of devolved LCs (LCBR) and invoked LGs
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Base Rate + 7.35% + 2% (PER: 20.35% p.a.)
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6.
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Micro credit to SHGs
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Base Rate + 4% (PER: 15.00% p.a.)
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7.
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Loan facilities under Govt. sponsored schemes, SGSY, PMEGP and SJSRY
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Base Rate + 4.25% (PER: 15.25% p.a.)
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8.
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Lakshmi Rental Loan to individuals
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Base Rate + 4.50% (PER: 15.50% p.a.)
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9
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Lakshmi Rental Loan to firms/corporates
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Base Rate + product - specific operating costs + Credit Risk & Tenor Risk Premia
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10.
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Advances to Rice Mills at selected centers
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WC credit facilities (other than Goods loan & KCC limits): Base Rate + 2.25% (PER: 13.25% p.a.)
Goods loan & KCC limits: Base Rate + 2.75% (PER: 13.75% p.a.)
TL facilities: Base Rate + 2.75% (PER: 13.75% p.a.)
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11.
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Advances to Timber traders at selected centers
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WC credit facilities below Rs.25.00 lacs: Base Rate + 6.75% (PER: 17.75% p.a.)
WC credit facilities above Rs.25.00 lacs: Base Rate + 5.75% (PER: 16.75% p.a.)
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12.
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Advances to Sago units at selected centers
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WC credit facilities (other than Goods loan & KCC limits): Base Rate + 3.75% (PER: 14.75% p.a.)
Goods loan & KCC limits: Base Rate + 3.50% (PER: 14.50% p.a.)
TL facilities: Base Rate + 4% (PER: 15.00% p.a.)
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