Interest Rate

 

A.DOMESTIC

Click here to View  For deposit  Rs.2 Crs and above

Interest rate applicable for deposit below Rs.2 Crs with effect from 25.05.2019


Card Rates (% Per Annum)

Maturity Period)

Regular)

Senior Citizen
(Not applicable for RD and NRO)

7-14 days

4.50

4.50

15-30 days

4.50

4.50

31-45 days

5.50

5.50

46-90 days

6.00

6.00

91-120 days

6.50

7.00

121-150 days

6.75

7.25

151-180 days 7.00 7.50
181 - 330 days 7.65 8.15
331-364 days 7.75 8.25
1 Year to less than 18 months 7.75 8.35
450 Days 8.40 9.00
18 months to 10 Years 7.85 8.45
 

* Senior citizen interest rate benefits is not applicable for NRO deposit and Recurring Deposits.

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Deposit Regular Senior Citizen
Lakshmi Tax Saver Deposits - w.e.f 25.05.2019 7.85% 8.45%
 
B.Non-Resident accounts
a.NRO(All maturities) Same as Domestic (*Senior Citizen interest rate benefits are not applicable for NRO deposits.)
b.NRE(All Maturities) with effect from 25.05.2019
1 year to less than 18 months 7.75%
450 Days 8.40%
18 months to 10 years 7.85%

 

C. FCNR(B)-- RATE OF INTEREST with effect from 01.07.2019
C.FCNR(B) 1year to < 2 years 2years to <3 years 3years to < 4years 4years to <5years For 5 years(Maximum)
USD 2.99 2.78 2.82 2.82 2.86
GBP 1.55 1.59 1.70 1.72 1.75
EUR 0.40 0.38 0.51 0.56 0.63
AUD 1.83 1.79 1.90 2.01 2.07
CAD 2.85 2.54 2.59 2.57 2.58
CHF 0.02 0.00 0.09 0.15 0.22
JPY 0.70 0.66 0.74 0.74 0.75
SGD 2.49 2.40 2.49 2.52 2.56

 

D. RFC-- RATE OF INTEREST with effect from 01.07.2019
D.RFC 1 month to < 6 months 6 months to <1 year 1 year RFC SB
1. USD 2.40 2.21 2.18 0.05
2.GBP 0.72 0.85 0.96 0.05
3. EUR 0.00 0.00 0.00 0.00
 

Bank’s MCLR effective from 01.07.2019 is as follows for different maturities:

Sr.No. MCLR Rate of Interest (%) P.A
1. Overnight MCLR 9.80
2. One Month MCLR 9.80
3. Three Month MCLR 9.85
4. Six Month MCLR 9.90
5. One Year MCLR 10.00
 

Facility/product-wise Spread under the MCLR System Sector: Industry, Trade & Services

Sr.No. Loan facility/product Interest Rate
1. WC credit facilities & Term Loan credit facilities One year MCLR + Business Strategy spread +Credit Risk Premia. (Depending upon the Credit Rating of the Borrower)
2. Advances under Lakshmi Business Credit (LBC) scheme
(a)For loans up to Rs.100.00 lacs:

One year MCLR + 1.45% (PER:11.45% p.a.)

(b)For loans above Rs.100.00 lacs:

One year MCLR+1.20% (PER:11.20% p.a)
3. Lakshmi Business Term Loan
(a)For loans up to Rs.100.00 lacs:

One year MCLR + 1.70% (PER:11.70% p.a.)

(b)For loans above Rs.100.00 lacs:

One year MCLR+1.45% (PER:11.45% p.a)
4. Lakshmi Loan Against Properties (LLAP) One year MCLR+1.75% (PER: 11.75% p.a.)
 

Sector: Bill Advances

Sr.No. Loan facility/product Interest Rate
1. Bills Purchased Documentary (BPD), Bills Purchased (Supply Bills) & (Drawee Bills) & UBD (Clean) MCLR + Business Strategy Spread + Credit Risk Premia. (Depending upon the Credit Rating of the Borrower & usance period)
2. Sight Bills Purchased under LCs – BP (Ag. LC) At one month MCLR (PER: 9.75% p.a)
3. Usance Bills Discounted under LCs - UBD (Ag.LC) Up to 90 days - 3 months MCLR + 0.05 (PER:9.85% p.a.)

91 days to 180 days - 3 months MCLR + 0.25 (PER:10.05% p.a)
4. Bills Purchased (Clean) – BPC: Interest to be charged on returned cheques One month MCLR+5.10% (14.90% p.a.)
 

Sector: Agriculture

Sr.No. Category of Agricultural Advances Interest Rate
1 Lakshmi Kissan Credit Card (LKCC)
(Includes Crop Loan & Term Loan Components) Agricultural Cash Credit (ACC), Agri. Crop Loans (ACL) (Short- term & long-term crop loans) Agri. Term Loans (ATL) (Medium & long term loans repayable in monthly/quarterly/ half –yearly/annual installments)
Up to Rs. 2.00 lac One year MCLR+0.60% (10.60% p.a.)
Above Rs. 2.00 lac to Rs. 50.00 lacs One year MCLR+1.10% (11.10% p.a.)
Above Rs. 50 lacs One year MCLR+1.60% (11.60% p.a.)
2 Direct Goods Loans/WHRs Loans (To Farmers & Firms/Corporates engaged in Agri. & Allied Activities & Lakshmi Commodity Power (LCP ) Scheme At one year MCLR+0.35% (PER: 10.35% p.a.)

For Agri - At one year MCLR+0.35% (PER: 10.35% p.a.)

For Non - Agri - At one year MCLR+1.35% (PER: 11.35% p.a.)
3 Jewel Deposit Loan (JDL) Scheme & Lakshmi Gold Power (LGP ) Scheme JDL (Agri.) Maximum of 25 no. of loans per borrower) & LGP (Agri.)- (Maximum Rs. 20 lacs per borrower) JDL (Agri.):
(i) Up to 6 months: 6 months MCLR+0.10% (PER: 10.00% p.a.)
(ii) 6 months to 9 months: One year MCLR+0.10 %:(PER: 10.10% p.a.)
(iii) 9 months to 12 months: One year MCLR+0.10% (PER: 10.10% p.a.) LGP (Agri.):
One year MCLR+0.10% (PER: 10.10% p.a.)
JDL (Non-Agri.) (Maximum 50 loans & per borrower Rs. 30 lacs) & LGP (Non-Agri.) One year MCLR+0.35% (PER: 10.35% p.a.)
4 JDL (Agri.) - Interest Subvention Scheme JDL (Agri.) - ISS Maximum Rs.3.00 lacs per borrower 7.00% p.a. Fixed Rate
5 Loans for construction of storage facilities (Warehouses, market yards, godowns, cold storage to store agriculture produce/ products irrespective of their location) (Agri.) Up to an aggregate sanctioned limit of Rs. 100 crores per borrower One year MCLR + 1.30% (PER: 11.30% p.a.)
6 Loans to Micro Finance Institutions (MFIs)
(For on-lending to Farmers/SHGs/JLGs/ engaged in Agriculture & Allied activities)
Irrespective of the loan amount One year MCLR+ 1.30% (PER: 11.30% p.a.)
7 Loans to SHGs/ JLGs (Directly engaged in Agriculture and Allied Activities) Irrespective of the loan amount One year MCLR+1.10% (PER: 11.10% p.a.)
 

Sector: Export Credit

Sr.No. Loan facility/product Interest Rate
1. Pre-shipment Credit (Maximum up to 360 days) Regular: At one year MCLR+0.10 (PER: 10.10% p.a.)
Overdue within 360 days:
Where sanction period is not extended beyond the original period of sanction & exports take place after the expiry of the sanction period, but within a period of 360 days from the date of advance:

(i) Up to sanctioned period: At one year MCLR+0.10% (PER: 10.10% p.a.)

((ii) For the Balance period beyond sanctioned period:

One year MCLR+5.10% (15.10% p.a.)

Beyond 360 days (Either Regular or Overdue): Interest rate as prescribed for ECNOS from the date of release of PCL: One year MCLR+ 5.10% (15.10% p.a.)
2. Post- shipment Credit Regular- Up to the maximum period prescribed by FED (Presently, the maximum period is 9 months) for realization of export proceeds: At one year MCLR+0.10% (PER: 10.10% p.a.)
Overdue:
((i) From the date of release up to 180 days- At one year MCLR+0.10% (PER: 10.10% p.a.)
(ii) For the period exceeding 180 days- Interest Rate as prescribed for ECNOS. One year MCLR+ 5.10% (PER: 15.10% p.a.)
3. Export Credit against incentive receivables, etc. One year MCLR+2.85% (PER: 12.85% p.a.)
4. Deferred Credit One year MCLR + 5.10% (15.10% p.a.)
5. Export credit not otherwise specified (ECNOS) Overdue Pre-shipment Credit & PCLs beyond 360 days: One year MCLR+ 5.10%(PER:15.10%p.a.)
Overdue Post-shipment Credit & Export Bills beyond 180 days: One year MCLR+ 5.10% (PER: 15.10% p.a.)
 

Sector: Personal segment loans

Sr.No. Loan facility/product Interest Rate
1. Lakshmi Home Loans At one year MCLR+0.10 (PER: 10.10% p.a.)
2. LHL-OD One year MCLR+0.35% (PER: 10.35% p.a.)
3. LHL-Top Up One year MCLR+0.35% (PER: 10.35% p.a.)
4. Lakshmi Personal Vehicle Loans Loans for purchase of New Cars/Vans/Jeeps: One year MCLR+ 0.35% (PER: 10.35% p.a.)
Loans for purchase of used Cars/Vans/Jeeps: One year MCLR+ 3.10% (PER: 13.10% p.a.)
Loans for purchase of new Two-wheelers: One year MCLR+3.10% (PER: 13.10% p.a.)
5. Advances to individuals against corporate debt instruments and units of approved mutual funds One year MCLR+ 5.10% (PER: 15.10% p.a.)
6. Lakshmi Easy Loan (OD/DL against govt. securities) One year MCLR+1.50% (PER: 11.50% p.a.)
7. Advances to individuals against shares & debentures & Lakshmi Loan Against Shares (LLAS) One year MCLR+1.60% (PER: 11.60% p.a.)
8. IPO finance to individuals One year MCLR+ 3.10% (PER: 13.10% p.a.)
9. Vidya Lakshmi Loans – Boy Students

For loan covered under CGS Scheme: (Upto Rs.7.50 Lacs)

One year MCLR + 3.10% (PER: 13.10% p.a.)

One year MCLR + 2.00% (PER: 12.00% p.a.)
10. Vidya Lakshmi Loans – Girl Students

For loan covered under CGS Scheme: (Upto Rs.7.50 Lacs)
One year MCLR+2.85% (PER: 12.85% p.a.)

One year MCLR+2.00% (PER: 12.00% p.a.)
 

Sector: Others

Sr.No. Loan facility/product Interest Rate
1. Loans/overdrafts against our Bank’s deposits (Domestic Rupee deposits & NRE deposits) to depositors against own deposits Up to 90% of Deposit Amount: 1.00% over Deposit Interest Rate.
2. Loans/overdrafts against our Bank’s deposits (Domestic Rupee deposits & NRE deposits) to borrowers other than depositors against third-party deposits 2% over the interest rate paid on the relative deposit, or at MCLR whichever is higher.
3. Drawals against un-cleared effects (i) In Current Account: 1 month MCLR+ 5.10% (PER: 14.90% p.a.)
(ii) In CC/OD Account: Applicable Rate +2%.
4. Purchase of local clearing instruments Overnight MCLR+5.10% (PER: 14.90% p.a)
5. Loan facilities under Govt. sponsored schemes, SGSY, PMEGP and SJSRY One year MCLR+2.10% (PER: 12.10% p.a.)
6. Advances to Micro Enterprises I. Exposure less than or equal to Rs. 5 Crores:

i) Working Capital/TL:
One year MCLR + 0.85% (PER: 10.85% p.a.)

II. Exposure more than Rs. 5 Crores:

i)Working Capital:

One year MCLR + 1.10% (PER: 11.10% p.a.)
7. Advances to Small Enterprises I. Exposure less than or equal to Rs. 5 Crores

(i) Working Capital: One year MCLR+ 1.35% (PER: 11.35% p.a.)

(ii) Term Loan: One year MCLR+ 1.10% (PER: 11.10% p.a.)

II. Exposure more than Rs. 5 Crores:

(i)Working Capital: One year MCLR+ 1.60% (PER: 11.60% p.a.)

(ii)Term Loan: One year MCLR+ 1.20% (PER: 11.20% p.a.)
8. Advances to Medium Enterprises I. Exposure less than or equal to Rs. 5 Crores:

(i) Working Capital: One year MCLR+ 1.60% (11.60% p.a.)

(ii) Term Loan: One year MCLR+ 1.20% (11.20% p.a.)

II. Exposure more than Rs. 5 Crores

(i) Working Capital: One year MCLR+1.85% (PER: 11.85% p.a.)

(ii) Term Loan: One year MCLR+1.30% (PER: 11.30% p.a.)
9. Loans under Stand-Up India Scheme The above prescribed exclusive interest rates for the loans to MSME will be applicable to Stand-Up India loans.
10. MUDRA Loans under PMMY Scheme One - year MCLR (PER - 10.00% p.a)
11. Lakshmi Rental Loan (i) If the tenants are Corporates, MNCs, Banks, Insurance Companies, PSUs, Brand Retail: One year MCLR +1.10% (PER: 11.10% p.a.)

(ii) If the tenants are Brand Franchises of MNCs/Top Corporates: One year MCLR+ 1.60% (PER: 11.60% p.a.)

(iii) If the tenants are partnership firms/ proprietorship/ individuals: One year MCLR+2.10% (PER: 12.10% p.a.)
12. Lakshmi Commercial Vehicle Loan (a) For Route Buses: One year MCLR+ 0.60% (PER: 10.60% p.a.)

(b) For all other Commercial Vehicles & Construction Equipment: One year MCLR+ 1.10% (PER: 11.10% p.a.)

(c) LCVL in tie-up arrangements with manufacturers/Dealers:
One year MCLR+1.10% (PER: 11.10% p.a.)
13. Lakshmi Small Business Loan One One year MCLR+3.35% (PER: 13.35% p.a.)
14. Term Loan to Real Estate Developers One One year MCLR+5.10% (PER: 15.10% p.a.)
15. Swarna Lakshmi Credit for Jewelers One One year MCLR+3.10% (PER: 13.10% p.a.)
16. Advances to Food and Agro-Based Processing Units

(Advances to Rice Mills, Sago Units, Edible Oil Mills, Dall Mills, Flour Mills, Meat & Fish Processing Units, Fruits & Vegetables Processing Units, Dairy
Products Manufacturing Units, Grain Mill Products Manufacturer, Starch & Starch Products Manufacturing Units, Animal Feed Manufacturing Units & etc.)
Working Capital/Term Loan: One year MCLR+0.10% (PER: 10.10% p.a.)
17. Chit Term Loan (Short Term Loan for creation of Chit Deposit) 3 months MCLR + 5.10% (PER: 14.95% p.a)
18. TOD in Current Accounts / LC Devolved/LG Invoked One month MCLR (9.80%)+ Maximum Business Strategy Spread(1.85%) + Credit Risk Premia (5.00%) +2% (PER: 18.65% p.a.)

Interest Rate range of contracted loans for the quarter ended 31.03.2019 - Click here to view

Annual Percentage Rate (APR) on Retail loans to Individual Borrowers - Click here to view

 

LAKSHMI VILAS BANK ,Corporate Office , Chennai
Rate at a quick glance
Deposit Accounts

KIND ATTENTION TO CUSTOMERS

REVISION OF MINIMUM BALANCE REQUIREMENT FOR SAVINGS OTHERS (PRODUCT CODE - 301) EFFECTIVE OCTOBER 01, 2017

Please find below revised Product wise AQB to be maintained:

Product Name Product Code Branch Category Present Revised
SB Others 301
METRO 3000 5000
URBAN 3000 5000
SEMI URBAN 2000 3000
RURAL 500 1000
 

Terms & Conditions:

  • For New to Bank (NTB) accounts, opened on or after 01-Oct-2017, the proposed changes in minimum balance requirement and non-maintenance charges therein, will be applicable effective October 1, 2017
  • For Existing (ETB) accounts, opened up to 30-Sep-2017, the proposed changes will be applicable with effect from January 1, 2018, enabling customers to increase their balances as per proposed AQB thresholds till December 31, 2017. Non-maintenance charges for existing (ETB) accounts, to be applicable as per the existing AQB norms, and not as per proposed norms till Dec 31, 2017.
  • Non-maintenance charges calculated at the end of the quarter will be levied as per the existing matrix, given below:
Branch Category Required AQB Shortfall SLAB % Of Charges on the Actual Shortfall
URBAN & METRO Rs 5000 UP TO Rs.2500 10%
ABOVE Rs.2500 15%
SEMI URBAN Rs 3000 UP TO Rs.1500 10%
ABOVE Rs.1500 15%
RURAL Rs 1000 UP TO Rs.500 10%
ABOVE Rs.500 15%
 

IMPLEMENTATION OF CENSUS 2011 - REVISED POPULATION CATEGORY OF BRANCHES / OFFICES EFFECTIVE APRIL 01, 2017

Change in the minimum balance requirement in SB accounts due to revision in population categorization (POP) of branches on account of implementation of Census 2011

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MODIFICATION IN MINIMUM BALANCE OF SAVINGS ACCOUNTS & REVISION OF MINIMUM BALANCE CALCULATION METHODOLOGY,EFFECTIVE JANUARY 01, 2017

Revised Product wise AQB to be maintained:

Savings Account Product Product Code

AQB

    Metro Urban Semi Urban Rural
SB Others 301 3000 3000 2000 500
Senior Citizen Savings Account 320 3000 3000 2000 500
NRE Savings Account 311 5000 5000 5000 5000
NRO Savings Account 312 5000 5000 5000 5000
 

Revision of minimum balance calculation methodology for SB accounts

The stipulated minimum balance is to be maintained during the calender quarter, instead of monthly.i.e. henceforth Average Quartely Mimimum Balance (AQB) would be considered instead of Average Monthly Minimum Balance (AMMB)

Terms & Conditions:

  • The above changes are applicable only to the above mentioned Savings Bank Products
  • Effective January 01, 2017 ,Non- maintenance charges, as applicable, based on actual shortfall, will be levied, as per the revised slab.
  • Kindly contact your nearest branch for more details.

Revision of Domestic Savings Bank, NRE and NRO Interest Rate Calculation effective 01.07.2018

Savings Interest Rate will be calculated and paid out on Incremental balances in the respective slabs given below, and not on the entire balance

Account Normal Senior Citizen Rural Semi Urban Urban Metro
1.Savings Bank A/c
A. Domestic Rate of Interest Minimum Balance to be maintained
Upto Rs.1 Lakh 4% 4% 1000 3000 5000 5000
Above Rs.1 Lakh and Upto 5 Lakhs 5.25% 5.25% 1000 3000 5000

5000
Above Rs.5 Lakhs and less than Rs 10 Crores 6.25% 6.25% 1000 3000 5000
5000
Balance Rs. 10 Crores and above 6.50% 6.50% 1000 3000 5000 5000
 

Illustration :

If the balance in the savings account is 10.50 Crores, then the Savings Account Interest will be calculated as follows:

Savings Interest Calculation Rates Applied as per the below Slab
Up to Rs 1 Lakh: 4.00% up to Rs 1 lakh 4.00%
Rs 1 lakh - Rs 5 lakhs: 5.25% Above Rs 1 lakh and up to Rs 5 Lakhs 5.25%
Rs 5 lakhs - Rs 10 Crore: 6.25% Above Rs 5 lakhs and less than Rs 10 Crores 6.25%
Remaining Rs 50 lakhs: 6.50% Rs 10 Crores and above 6.50%

 

B.Nonresident Normal & Senior Citizen Minimum Balance
a. NRO - Balance Upto Rs.1 lakh 4% 5000
NRO - Balance Above
Rs.1LakhUpto Rs.5 lakhs
5.25% 5000
NRO - Balance above Rs.5 lakhs and Upto Rs.10 Crores 6.25% 5000
NRO - Balance Rs. 10 Crores and above 6.50% 5000
b. NRE - Balance Upto Rs.1 lakh 4% 5000
NRE - Balance Above
Rs.1LakhUpto Rs.5 lakhs
5.25% 5000
NRE - Balance above Rs.5 lakhs and Upto Rs.10 Crores 6.25% 5000
NRE - Balance Rs. 10 Crores and above 6.50% 5000