Loan Interest Rates

w.e.f 01-04-2016

The Sutex Coop. Bank Ltd., Surat                                                                                       
Rate of Interest on Loans & Advances w.e.f 01/04/2016
S.No. Type of Loan Rate of Int.(%) p.a.
1 Cash Credit Loan / M.C.C 13.00%
2 Machinery Loan - New / TUF / Embroidery / Old 12.50%
3 Vehicle Loan (2 wheeler, 3 wheeler,4 wheeler,Commercial Vehicle) 11.00%
4 Clean Loan 15.00%
5 Factory Shed Loan 13.00%
6 Loan / OD against NSC / KVP / Life Policy / RBI Bond etc. 10.50%
7 Consumer Loan 13.00%
8 Education Loan in India*:
Upto Rs.2.00 Lacs 9.50%
Above Rs.2.00 Lacs to 5.00 Lacs 10.50%
Above Rs.5.00 Lacs 11.00%
9 Education Loan Abroad*: 11.50%
*0.50% concessional rate for girl student
10 Housing Loan
84 Months tenure 11.00%
120 Months tenure 11.50%
144 Months tenure (Maximum Rs.20.00 Lacs) 11.50%
11 Premises Loan / Loan against Immovable Property 14.00%
12 Premises Loan / OD against Commercial Real Estate Immovable Property 14.50%
13 Retail Trade Loan (Maximum Rs.5.00 Lacs) 12.00%
14 Holiday Tour Finance 13.00%
15 Furniture Fixture Loan 13.50%
16 Agriculture and other Allied Activities 13.00%
17 Cash Credit / MCC 13.50%
18 Loan / OD against bank's FD FD rate + 1%
19 Loan / OD against bank's FD (Third party) FD rate + 2%
20 Finance for Professionals (FFP) 11.00%

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