Rate of Interest
Revision in Interest Rates on Schematic Refinance
The Interest rates on refinance for all eligible purposes have been revised with effect from the dates indicated below. The revised rates are as under –
Sr. No. |
Agency |
Rate of Interest as applicable in other than NER states & Sikkim |
Rate of interest as applicable in NER states & Sikkim |
Effective Date |
1. |
Commercial Banks |
10.50% |
9.75% |
28.07.2011 |
2. |
RRBs |
9.75% |
9.75% |
29.07.2011 |
3. |
SCBs/SCARDBs/ PUCBs/ NEDFi |
9.75% |
9.75% |
29.07.2011 |
4. |
NBFCs |
11.25% |
9.75% |
29.07.2011 |
5. |
ADFCs / NABFINS |
8.75% |
-- |
29.07.2011 |
The revised interest rates on refinance to various RFIs on their loans to MFIs for onlending to clients will be at 3% less than that being charged by banks subject to a minimum interest rate of 9.75% p.a. for CBs & RRBs in North Eastern Region including Sikkim and 10.50% p.a. for CBs & 9.75% p.a. for RRBs for all other regions and for all eligible purposes.
The revised rates fixed for Commercial Banks may vary in respect of their lendings in States other than NE Region (including Sikkim) and are negotiable subject to a minimum of 10.50% as indicated above. |
