Interest rates

The Sarvodaya Co-Op. Bank Ltd. Mumbai
Deposit interest rates w.e.f. 1/8/2019
S.No Period (Existing Int. Rate) (Revised Int. Rate)
(Existing Int. Rate)
Individual
(Existing Int. Rate)
Sr. Citizen/Societies
(Revised Int. Rate)
Individual
(Revised Int. Rate)
Sr.Citizen/Societies
Fixed Deposit
1. 15 to 29 days 4.50 5.00 5.50 5.50
2. 30 to 90 days 4.50 5.00 6.00 6.00
3. 91 to 181 days 5.00 5.50 6.25 6.50
4. 181 to 12 months 6.50 7.00 7.00 7.25
5. Above 12months to 18months 7.75 8.25 8.00 8.25
6. Above 18months to 36months 7.75 8.25 8.25 8.50
7. Above 3 years to 5 years 8.00 8.50 8.50 8.75
8. Above 5 years to 10 years 7.75 8.25 8.00 8.25
9. Special Deposit Scheme for 400 days 9.00 9.25 8.50 8.75
10. special Interest rate to credit soc. as per attached separate chart.
The above rate of interest on deposit will be effective from 01/8/2019
Interest Rates on Loans & Advances

Sr. No.

Type of Loans Existing Interest Rate Revised Interest Rate
(w.e.f 01.08.2019)
1) Cash Credit 14% 14%
2) Term Loan / Business Loan 15% 15%
3) I) Personal Loan 16% 16%
II) Group 50 or above employed with government or semi-government bodies including Municipal corp., Municipal council, A-group Railways, BEST, MTNL, & Undertaking from employer to remit Full Salary or EMI directly deducted from Salary 14.oo% 11.75%
III) Relative of Above Salaried Borrower where salary/EMI is remitted 15.oo% 14.oo%
IV) Teachers- Direct Deduction from Salary A/c ECS/PDC/NACH 14.00% 14.00%
4) Housing Loan
Housing Loan up to Rs. 5 Lacs 11.50% 9.75%
Housing Loan above Rs. 5 Lacs up to 15 lacs 12.00% 9.75%
Housing Loan above Rs. 15 Lacs up to 25 lacs 12.50% 9.75%
Housing Loan up to 25 lacs to Women 9.50%
Housing Loan above 25 Lacs to 50 Lacs 13.00% 10.50%
Housing Loan above 25 lacs to 50 lacs to Women 10.25%
Housing Loan above 50 Lacs to 70 Lacs to all 13.50% 11.50%
5) Mortgage Loans
(i) For House Renovation & Repairs and OD against property 15.00% 15.00%
(ii) Loan for Commercial & Real Estate 15.00% 15.00%
(iii) Loan/Overdraft against Rent Receivable 12.50% 12.50%
(iv) Top Up Loan Scheme to Existing Borrowers against Immovable Property. 13.00%
6) Vehicle Loans / Auto Loans
For New Vehicle Purchase (New Car Loan) 14.00% 12.00%
For Old Vehicle Purchase (Below 5 Years) 15.00% 15.00%
For Auto Loan New Purchase 14.00% 14.00%
Loan against Old Vehicle (Below 5 Years) 15.00% 15.00%
Loan against Commercial Value 15.00% 15.00%
7) Loans to Professional  14.00% 13.00%
(This scheme is applicable to Practitioners Doctors, Architects, Engineers, Chartered Accountants etc.)
8) Gold Loan
i) Gold Loan / Bullet Gold Loan up to Rs.1,00,000 12.00% 11.50%
ii) O.D. Against Gold
    a) Upto Rs. 5,00,000/- 12.50% 12.50%
    b) above 5 Lacs to 10 Lacs 12.50% 12.50%
    c) above 10 Lacs 12.50% 12.50%
iii) Term Loan Against Gold up to Rs. 5 Lacs 12.50% 12.00%
9) Loan or OD Against NSC/KVP/LIC 13.00% 12.00%
10) Loan Against F.D. R./D.
Normal FD Loan 1% above the deposit rate 1% above the deposit rate
For Deposit 15 Lakhs to 49.99 Lakh (Period
13 months & above)
1% above the deposit rate 1% above the deposit rate
For Deposit 50 Lakh & Above (Period 13 months & above) 0.50% above the deposit rate 0.50% above the deposit rate
11) Education Loan   15.00% 14.00%
12) MSME Loan 26.62% 18.00%
13) Sarvo Shakti Women loan 14.00% 14.00%
Note: 1 Revised interest rates only applicable to Fresh Loans.
2 A) If Gold loan closed before 90 days then @1.50% p.a. interest will be reimbursed.
B) If Gold loan closed between 91 days to 180 days then bank will reimburse interest rate @ 1.00% p.a.
C) If Gold loan closed between 181 days to 270 days then bank will reimbursed interest rate @ 0.50% p.a.
The above rate of interest on Loans & advances will  be effective from 01/08/2019