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Click here for Product Change Notice w.e.f July 1, 2011

Interest Rates for Savings Account and Term Deposits (Domestic, Non Residents, Loans)

NATURE RATES OF INTEREST (% p.a) MINIMUM BALANCE
ACCOUNT Normal Senior Citizen RURAL Semi Urban Urban
Savings Bank A/c
A.Domestic          
a.with cheque book facility 4 4 1000 1000 1000
b.without cheque book facility 4 4      
c. No Frills Account 4 4 0 0 0
B. Non Resident      
a. NRO 4 -  
b.NRE 4 -  

Term Deposits-Domestic & NRO Deposits (w.e.f. 10.03.2016)
Term Deposits (All Maturities) Rates of Interest (% p.a)
7 days to 14 days 5.00
15 days to 45 days 5.00
46 days to 90 days 6.25
91 days to 179 days 6.50
180 days to 364 days 6.75
365 days 7.35
Above 1 year upto & inclusive of 2 years 7.25
Above 2 years upto & inclusive of 3 years 7.25
Above 3 years upto & inclusive of 5 years 7.10
Above 5 years upto & inclusive of 10 years 7.10
  • Senior citizens are eligible for an additional interest rate of 0.50% p.a. for all domestic term deposits of 1 year and above except for Dhanam Tax Advantage deposits.

NRE (All Maturities) (w.e.f 10.03.2016) Rates of Interest (% p.a)
365 days 7.35
Above 1 year upto & inclusive of 2 years 7.25
Above 2 years upto & inclusive of 3 years 7.25
Above 3 years upto & inclusive of 5 years 7.10
Above 5 years upto & inclusive of 10 years 7.10
  • No interest will be paid on term deposits that have remained with the bank for less than the minimum period prescribed.
  • For interest rates on Domestic, NRE and NRO Deposits of Rs 1 crore and above, please contact your branch.
FCNR (B) (w.e.f 01.05.2016)
  1 year & above
but < 2 years
2 years & above
but < 3 years
3 years & above
but < 4 years
4 years & above
but < 5 years
For 5 years
(Maximum)
Rates of Interest (% p.a)
i) USD 1.80 1.92 2.04 2.15 2.26
ii) GBP 1.64 1.87 1.96 2.05 2.14
iii) EUR 0.88 0.87 0.92 0.97 1.06
iv) CAD 1.98 2.04 2.07 2.12 2.18
v) AUD 3.08 3.04 3.08 3.39 3.39
vi) CHF 0.35 0.32 0.33 0.39 0.46
vii) SGD 2.46 2.64 2.79 2.92 3.03

RFC (w.e.f 01.05.2016)
  6 months and above but less than 1 year
1 years & above
but less than 2 years
2 years & above
but less tahn 3 years
3 years
Rates of Interest (% p.a)
i) USD 1.90 1.80 1.92 2.04
ii) GBP 1.74 1.64 1.87 1.96
iii) EUR 0.84 0.88 0.87 0.92
 

LOANS

MARGINAL COST OF FUNDS BASED LENDING RATES (MCLR)
Effective from 01.04.2016, all rupee loans sanctioned and credit limits renewed will be priced with reference to the Marginal Cost of Funds Based Lending rate (MCLR).

Tenor-based MCLR effective from 1st April, 2016 is as under:
MCLR Rates of Interest Rate of Interest (%) p.a.
Overnight MCLR 10.25
One Month MCLR 10.25
Three Month MCLR 10.25
Six Month MCLR 10.30
One Year MCLR 10.40
Two Year MCLR 10.40
Three Year MCLR 10.60
Five Year MCLR 10.90
Over 5 year 11.00
The above MCLRs will be effective till next review.

MCLR is the minimum lending rate and the final lending rate will be MCLR + Spread. Existing borrowers of the Bank shall have an option to switch over to interest rates linked to MCLR (other than Fixed Rate Loans) at mutually acceptable terms.

BASE RATE - THE BASE RATE OF THE BANK IS 11.40% p. a. WITH EFFECT FROM 03 NOVEMBER 2015. THE BENCHMARK PRIME LENDING RATE (BPLR) OF THE BANK IS 21% p. a. WITH EFFECT FROM 02 NOVEMBER 2011. More...

Interest rates from 01.04.2015 to 30.06.2015
Retail Segment advances:
Base rate (BR): 11.40%
1 Dhanam Home loan : BR (Floating)
2 Dhanam Home loan -Top up : BR+1% (Floating)
3 Dhanam Car Credit : - For New car : BR (Fixed), - For Pre-owned cars : BR+2.75%
(Fixed)
4 Dhanam Two wheeler Loans : BR+3.75% (Fixed)
5 Dhanam Commercial Vehicle loans : Passenger vehicle :BR+2.25% (Fixed), Other
vehicles – BR+2.75% (Fixed)
6 Dhanam Vidya Credit Scheme – Educational Loan
Educational loan with interest subsidy: BR+2% (Floating),
For others : BR+3.75% (Floating)
7 Dhanam Easy Loan
Period upto 12 month – BR+ 2.50% (Floating)
13 months to 24 months - BR+ 3.25% (Floating)
25 months to 48 months - BR+ 3.50% (Floating)
49 months to 120 months - BR+ 3.75% (Floating)
8 Dhanam Construction Finance Loan : BR+3.25% (Floating)
9 Dhanam Green Loan: BR+3.50% (Fixed)
10 Dealer Inventory Funding : BR+ 3.25% (Floating)
11 Trade Advance : BR+3.25% (Floating)
12 Loan Against Property (LAP) : BR+3.25% (Floating)
13 Dhanam Ready Money Loan Overdraft - DRMOD/DRMTL: BR+3.25% (Floating)
14 Dhanam Lease Rental Discounting: BR+2.25% (Floating)
15 Dhanam Business Loan :
For Term loan : BR + 2.00% (Floating)
For CC/overdraft : BR + 1.75% (Floating)
       

Corporate and SME segment:

Base Rate 11.40%
Particulars Internal rating
AAA AA, A B+, B B-,C Unrated
Working capital facilities BR+0.30% BR+0.47% BR+0.84% BR+1.75% BR+1.96%
SME BR+0.80% BR+0.97% BR+1.34% BR+2.25% BR+2.46%
Term Loans BR+1.61% BR+1.78% BR+2.15% BR+3.06% BR+3.27%
Short Term Loans BR+0.80% BR+0.97% BR+1.34% BR+2.25% BR+2.46%
Loan Against Shares BR+2.80% BR+2.97% BR+3.34% BR+4.25% BR+4.46%

*Note: Fine pricing is done based on the financial/security comfort

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Information on Base Rate

The Reserve Bank of India had directed all the banks to switch over to the Base Rate system from the BPLR system with effect from 1 July 2010. All new loans sanctioned effective 1 July and those falling due for renewal from 1 July, (except exempt categories as per RBI Guidelines) will now be priced with linkage to Base Rate. The main objective of introducing Base Rate is to ensure transparency in pricing and transmission of Monetary Policy guidelines.

Existing borrowers have the option to switch to the Base Rate system before the expiry of existing contracts, on mutually agreed terms. As per RBI guidelines, Bank shall review the Base Rate periodically and the interest payable by the borrower shall be subject to such changes, if any.

The Base Rate includes all the cost elements which could be clearly identified and are common across borrowers. It is the minimum lending rate below which banks cannot lend. We have fixed Base Rate, based on year to date cost of deposits, negative carry in respect of CRR & SLR, unallocatable overhead costs and average return on Networth.

The actual lending rates charged to borrowers would be the Base Rate plus borrower specific charges, which will include product specific operating costs, credit risk premium and tenor premium.

 

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