|
Interest Rate Structure Revision |
| We are happy to
inform you, that from 1st February 2007, we have introduced Tenure-based
Reference Rates, to which will be linked all the loans sanctioned and/or
disbursed after 1st February 2007. As you are aware, the volatility in
interest rates varies depending on the tenure of funds and the same will be
better reflected in the new system. With this new system, we will also do
away with the practice of Sub-PLR rates. We take this opportunity to inform you, our Tenure-based Reference Rates: Loan Tenure Tenure-based Reference Rate Rate (% p.a.) 1 year and above but less than 3 years MT Reference Rate 10.75 Between 3 to 5 years LT Reference Rate 11.00 Above 5 years VLT Reference Rate 11.50 We hope you will welcome these changes and help us to improve our services further towards the growth and prosperity of your business. Back |