Establishment
The Karnal Co-Operative Bank, Karnal
The Karnal Central Co-Operative Bank Karnal

Subject:-                Revision in the Rate of Interest of Deposit & Advances w.e.f. 15.06.2016

After looking in to the cost of funds and the interest structure in local banking market, we have also revised the rates of deposits and advances w.e.f. 15.06.2016.  All of you are advised to implement the same w.e.f. 15.06.2016.

The detail of revision is as under:-

TERM DEPOSIT

Sr.

No.

Period

Existing up to

14.06.2016

Revised Rates w.e.f. 15.06.2016

1.

7 days to 14 days

5.00

4.75

2.

15 days to 45 days

6.00

5.75

3.

46 days to 90 days

6.50

6.50

4.

91 days to 179 days

7.00

7.25

5.

180 days 270 days

7.50

7.50

6.

271 days to less than 1 year

7.75

7.60

7.

Above 1 Year

8.10

7.75

8.

Senior Citizen

+0.50

+0.50

A.            LOANS

Sr.

No.

Loan to PACS

Existing

Proposed w.e.f. 15.06.2016

Non-overdue

Overdue

Non-overdue

Overdue

1.

S.T. Agri.

5.50

10.50

5.50

10.50

2.

S.T. Non-Agri. All Types

12.00

15.00

12.00

15.00

3.

M.T. Agri. All Types

12.00

15.00

12.00

15.00

4.

M.T. Non-Agri. All Types

12.00

15.00

12.00

15.00

5.

C/C Fertilizer

13.50

16.50

12.50

15.50

 

B.

DIRECT  LOAN TO INDIVIDUALS

Sr.

No

Particulars

Existing

Proposed

Non-Overdue

Overdue

Non-Overdue

Overdue

1.

RCC to Farmers

13.00

16.00

13.00

16.00

2.

M.T. Agri. All Types

Including Allied to Agri.

13.50

16.50

12.00

15.00

3.

All other M.T. Non-Agri. Loans except

Staff Loan

13.50

16.50

12.00

15.00

4.

C/C Traders/Individuals

13.50

16.50

12.50

15.50

5.

C/C  L/C Societies, Industrial Coop.

Societies, C/C Store etc.

13.50

16.50

12.50

15.50

6.

Personal Loan Consumer Durable Loan

except staff  loan.

13.50

16.50

12.50

15.50

7.

S.E.T.C. Society other than Staff.

13.50

16.50

12.50

15.50

8.

House Building Loan except Staff

As per

SBI Rates

As per

SBI Rates

As per

SBI Rates

As per SBI Rates

9.

Car Loan except staff

-

-

As per

SBI Rates

As per SBI Rates

10.

Gold Loan

-

-

12.50

15.50

 

Subject:-                Revision in the Rate of Interest of Deposit & Advances w.e.f. 15.06.2016

After looking in to the cost of funds and the interest structure in local banking market, we have also revised the rates of deposits and advances w.e.f. 15.06.2016.  All of you are advised to implement the same w.e.f. 15.06.2016. The detail of revision is as under:-

TERM DEPOSIT

Sr.

No.

Period

Existing up to

14.06.2016

Revised Rates w.e.f. 15.06.2016

1.

7 days to 14 days

5.00

4.75

2.

15 days to 45 days

6.00

5.75

3.

46 days to 90 days

6.50

6.50

4.

91 days to 179 days

7.00

7.25

5.

180 days 270 days

7.50

7.50

6.

271 days to less than 1 year

7.75

7.60

7.

Above 1 Year

8.10

7.75

8.

Senior Citizen

+0.50

+0.50

Note :-

1.             Bank staff who are provided 1% additional rate of interest will submit one time           undertaking in    the manner prescribed by RBI. The format in this regard has already been sent to all the                 Branches vide our letter no B/L 2014-15/4193-4240 dated 01.07.2014 .The staff members                are          entitled to claim both benefit of     staff and senior citizen if applicable.

2.          The instructions of settlement of rate of interest by Branch Managers on Term Deposit of           Rs.1.00 Crore     and above as decided earlier vide our letter no B/L 2010-11/33132-26 dated           23.02.2011will    continue.

3.             Revision in the computerized system will be done by CBS Section only.  The Branch    Managers will     not make any change.

Further it is also proposed that the interest rate structure also require revision of which proposal is given below:-

A.            LOANS

Sr.

No.

Loan to PACS

Existing

Proposed w.e.f. 15.06.2016

Non-overdue

Overdue

Non-overdue

Overdue

1.

S.T. Agri.

5.50

10.50

5.50

10.50

2.

S.T. Non-Agri. All Types

12.00

15.00

12.00

15.00

3.

M.T. Agri. All Types

12.00

15.00

12.00

15.00

4.

M.T. Non-Agri. All Types

12.00

15.00

12.00

15.00

5.

C/C Fertilizer

13.50

16.50

12.50

15.50

Contd…P/2…

-2-

B.

DIRECT  LOAN TO INDIVIDUALS

Sr.

No

Particulars

Existing

Proposed

Non-Overdue

Overdue

Non-Overdue

Overdue

1.

RCC to Farmers

13.00

16.00

13.00

16.00

2.

M.T. Agri. All Types

Including Allied to Agri.

13.50

16.50

12.00

15.00

3.

All other M.T. Non-Agri. Loans except

Staff Loan

13.50

16.50

12.00

15.00

4.

C/C Traders/Individuals

13.50

16.50

12.50

15.50

5.

C/C  L/C Societies, Industrial Coop.

Societies, C/C Store etc.

13.50

16.50

12.50

15.50

6.

Personal Loan Consumer Durable Loan

except staff  loan.

13.50

16.50

12.50

15.50

7.

S.E.T.C. Society other than Staff.

13.50

16.50

12.50

15.50

8.

House Building Loan except Staff

As per

SBI Rates

As per

SBI Rates

As per

SBI Rates

As per SBI Rates

9.

Car Loan except staff

-

-

As per

SBI Rates

As per SBI Rates

10.

Gold Loan

-

-

12.50

15.50

C.

STAFF LOAN

Existing

Proposed

1.

C/C Gratuity

8.50

8.50

2.

Education

9.00

9.00

i)

Male

9.00

9.00

ii)

Female

8.00

8.00

3.

C.D. Loan/Personal Loan

8.00

8.00

4.

S.E.T.C. Society

8.00

8.00

5.

Marriage Loan

8.00

8.00

6.

Conveyance Loan

8.00

8.00

7.

House Building Loan

8.00

8.00

8.

Computer Loan

8.00

8.00

Sd/-

General Manager.

 
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