Term Deposits Interest Rates and Rules

AATL - EXPRESS DAIRY LOAN

• Purpose: To establish a dairy unit with a minimum of 2 milch animals
• Eligibility:
  • KCC borrowers who have maintained a loan account as 'Standard Asset' for the past 6 years
  • Applicant farmer should be less than 60 years old
  • Farmer should own a land of at least 2 acres with irrigation facility
  • Borrower/Applicant having a dairy unit is also eligible if they want to expand the unit
• Margin: Minimum 15% of the total purchase cost
• Repayment: 3 years EMIs
• Security: Hypothecation of live stocks and CGFMU coverage for the total loan amount
• Security Documents: Application Form, DP Note, DP Note Delivery, Term Loan Agreement, Hypothecation Agreement, and Arrangement letter

DAIRY FARMING LOAN

• Purpose: To establish dairy farming
• Eligibility:
  • Applicant should be progressive and of good means to take care of dairy farming
  • Applicant farmer should be less than 70 years old
• Land holdings:
  • Less than 10 animals: minimum 20 guntas land per 5 animals for growing feed and able to procure balance feed locally
  • More than 10 animals: 1 acre own or lease land
• Margin Repayment Security:
  • 15% of the total purchase cost
  • Repayment will commence from the month following the month of loan disbursement
  • Security: Hypothecation of assets created out of bank finance

TERM DEPOSIT

• Frequency and Deposit of Instalments: Flexible
• Tenure of Deposit: 1 Year to 3 Years
• Interest Rate: As applicable to Term Deposits
• Deposit Limits:
  • Minimum: ₹100
  • Maximum: ₹50,000 (Single Instance) and ₹500,000 (Per Year)
• Interest Rates on Term Deposits:
  • Deposits above ₹2.00 Cr: 3.50% to 7.35%
  • Deposits below ₹2.00 Cr: 3.50% to 7.35%

SAVINGS DEPOSIT

• Interest Rate: 2.90% (w.e.f 01.11.2023)
• Special Deposit Schemes for NRIs and Minors:
  • Deposit Schemes for Non-Resident Indians (NRE and NRO accounts)
  • Deposit Schemes for Minor Children (Mundadugu and Tholimalupu schemes)

HOUSING LOAN TO PUBLIC

• Purpose: For Indian citizens and NRIs to purchase, construct, repair, or renovate a house or flat
• Eligibility:
  • Age: 18 to 62 years
  • Loan Limit: Up to ₹30 lakhs, above ₹30 lakhs, and up to ₹75 lakhs
• LTV Ratio: 90% to 75%
• Repayment: Maximum 30 years through ECS/NACH
• Security: Equitable Mortgage or Registered Mortgage of the proposed property

PERSONAL LOAN

• Purpose: To meet any sort of personal financial needs
• Eligibility:
  • Age: 21 years to 62 years
  • Take-home salary: More than the loan amount
• Loan Limit: Up to ₹50.00 lakhs
• Repayment: Maximum 72 EMIs
• Collateral Security: No collateral for loans up to ₹50.00 lakhs, and mortgage of SARFAESI compliant property for loans above ₹50.00 lakhs

TERM LOAN - AGRICULTURE ASSET BACKED

• Purpose: To provide hassle-free finance to farmers for traditional and modern farm and farm-related activities
• Eligibility: Progressive farmers with owned land or partnership firms
• LTV Ratio: 15-25%
• Repayment: Loan period of 12 to 72 months with equated reduction
• Security: SARFAESI compliant immovable property pertaining to the individual/proprietor/partners/near relatives
• Security Documents: DP Note, DP Note Delivery, Arrangement Letter, Hypothecation Agreement, Guarantee Deed, Mortgage Deed

GOLD LOANS

• Product: VIKAS JEWEL
• Purpose: To meet personal needs such as education, medical, and purchase of consumer goods
• Eligibility: All productive purposes under non-priority against pledge of gold ornaments