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Interest Rates on Advances

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RETAIL LOAN | PRIORITY SECTOR | EXPORT CREDIT

Interest rates applicable for domestic credit (Commercial & Institutional Advances) :
Rate (per annum) w.e.f. 01.07.2008
Benchmark Prime Lending Rate (BPLR)
13.25 %

The applicable spread over BPLR based on credit ratings as per new rating model:
Credit Rating of Account Applicable spread (%) over BPLR
Maturity up to 180 days Maturity over 180 days and less than 1 year Maturity over 1 year
AAA -0.50 0.00 0.75
AA 0.00 0.50 1.25
A 1.00 1.50 2.25
BBB 1.50 2.00 2.75
BB 2.00 2.50 3.25
B 2.50 3.00 3.75
C 2.50 3.00 3.75
D 2.50 3.00 3.75

The applicable band over BPLR based on credit rating as per old rating model:
Sr. No. Credit Rating Maturity upto 180 days Maturity over 180 days & less than 1 year Maturity over 1 year
1. A + 0.00 to 1.00 % 0.50 to 1.50 % 1.25 to 2.25 %
2. A 1.00 to 2.00 % 1.50 to 2.50 % 2.25 to 3.25 %
3. B + 2.00 to 2.50 % 2.50 to 3.00 % 3.25 to 3.75 %
4. B 2.50 % 3.00 % 3.75 %
5. C 2.50 % 3.00 % 3.75 %

Purchase / Discounting of Bills (Drawn under letter of credit of our bank) Rate of Interest (per annum)
a Benchmark Prime Lending Rate (BPLR) 13.25 %
b For bills having tenor upto 180 days 3 % below BPLR (for bills of Rs.0.25 crores and above)
1.00 % below BPLR (for bills below Rs.0.25 crores)
c For Bills having tenor more than 180 days but upto 1 year At BPLR

Purchase / Discounting of Bills (Drawn under letter of credit of other Prime Bank) Rate of Interest (per annum)
a Benchmark Prime Lending Rate (BPLR) 13.25 %
b For bills having tenor upto 180 days 2.50 % below BPLR (for bills of Rs.0.25 crores and above)
1.00 % below BPLR (for bills below Rs.0.25 crores)
c For Bills having tenor more than 180 days but upto 1 year At BPLR

Purchase / Discounting of Bills (Outside letter of credit) Rate of Interest (per annum)
a For bills having tenor upto 180 days at BPLR
b For Bills having tenor more than 180 days but upto 1 year 0.50 % above BPLR


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» Retail Loans

Baroda Housing Loan to Individuals / NRIs / PIOs (Interest rates are p.a., with monthly rest) (w.e.f. 01.07.2008)
Fixed Rate option Up to Rs. 30 Lacs Above Rs. 30 Lacs
Upto 5 years 11.00% 11.25%
Over 5 years & up to 10 years 11.25% 11.50%
Over 10 years & up to 15 yrs 11.50% 11.75%
Floating Rate Option    
Up to 5 years 3.25% Below BPLR i.e. 10.00% 3% Below BPLR i.e. 10.25%
Over 5 years up to 15 years 3% Below BPLR i.e. 10.25% 2.75% Below BPLR i.e. 10.50%
Over 15 years up to 25 years 2.75% Below BPLR i.e. 10.50% 2.50% Below BPLR i.e. 10.75%

Baroda Home Improvement Loan (w.e.f. 01.07.2008)
  • 2.00% below BPLR i.e. 11.25%
  • Baroda Advance Against Property (Resident/NRI) (w.e.f. 01.07.2008)
  • Existing as on 14.02.07 : 1.00% above BPLR i.e.14.25%
  • For advances sanctioned w.e.f. 15.02.07 and upto 31.12.2007 $ : 1.50% above BPLR i.e.14.75%.
  • Advances sanctioned w.e.f. 01.01.2008 # : BPLR i.e. 13.25%.
  • Baroda Traders Loan (w.e.f. 01.07.2008)
    Upto Rs.2/- lacs 0.50% below BPLR i.e. 12.75%.

    Above Rs.2.lacs

    OD and loans upto 1 year

    Loans more than 1 year



    0.50% below BPLR i.e. 12.75%

    At BPLR i.e. 13.25%

    Baroda Professional Loan
    Upto Rs.2/- lacs At BPLR i.e. 13.25%.
    Above Rs.2.lacs 1% above BPLR i.e. 14.25%.

    Baroda Loan to Doctors
    Upto Rs.2/- lacs 1% below BPLR i.e. 12.25%.
    Above Rs.2.lacs 1.50% below BPLR i.e. 11.75%.

    Baroda Education Loan (w.e.f. 01.07.2008)
  • Loans upto Rs.4.00 lacs : 1.25% below BPLR i.e. 12.00%
  • Loans above Rs.4.00 lacs : 0.75% Above BPLR i.e. 14.00%
  • Baroda Career Development (w.e.f. 01.07.2008)
  • 0.75% above BPLR i.e. @ 14.00% p.a.
  • Baroda Loan for Training, Skill Upgradation of Construction workers (w.e.f. 01.07.2008)
  • 1.00% Above BPLR i.e. 14.25%.
  • Baroda Car Loan (w.e.f. 01.07.2008)
  • 1.75% Below BPLR i.e. 11.50%.
  • Baroda Vaibhav Lakshmi Loan (w.e.f. 01.07.2008)
  • Existing accounts as on 14.02.07 : 1.00% Above BPLR i.e. 14.25%
  • For advances sanctioned on 15.02.07 and onwards $ : 2.5% above BPLR i.e. 15.75%
  • Baroda Loan to Defence Pensioners (w.e.f. 01.07.2008)
  • Existing accounts as on 14.02.07 : At BPLR i.e. 13.25%.
  • For advances sanctioned on 15.02.07 and onwards : 1.5% Above BPLR i.e. 14.75%
  • Baroda Desh Videsh Yatra Loan (w.e.f. 01.07.2008)
  • Existing accounts as on 14.02.07 : At BPLR i.e. 13.25%.
  • For advances sanctioned on 15.02.07 and onwards : 2.5% above BPLR i.e. 15.75%
  • Baroda Advance Against Securities
    A Against NSC/KVP Loan: 0.50% below BPLR or 0.50% over NSC / KVP rate, whichever is higher
    Overdraft: At BPLR or 0.75% over NSC / KVP, whichever is higher
    B Life Insurance Policy / Relief Bonds Loan : 0.50% below BPLR i.e. 12.75 %
    Overdraft: At BPLR i.e. 13.25%.

    Baroda Salary Advantage Savings Account
  • 1.50% above BPLR i.e. 14.75%
  • Baroda Future Rent Receivables (w.e.f. 01.07.2008)
  • 2.50% over BPLR i.e.15.75% p.a.
  • Additional Assured Advance (AAA) (w.e.f. 01.07.2008)
  • 14.25% (Fixed)*
  • Baroda Personal Loan (w.e.f. 01.07.2008)
  • 16.00% (Fixed)*
  • Baroda Loan to Pensioners (w.e.f. 01.07.2008)
  • 14.75% (Fixed)*
  • Baroda Consumer Durables Loan (w.e.f. 01.07.2008)
  • 15.75% (Fixed)*
  • i.e. 0.50% concession to our housing loan borrowers.
  • Baroda Two Wheeler Loan (w.e.f. 01.07.2008)
  • 13.25% (Fixed)*
  • (0.50% concession where employer undertakes to deduct instalment & remit the same to branch).
  • Baroda Laptop & Personal Computers Loan (w.e.f. 01.07.2008)
  • 12.50% (Fixed)*
  • Baroda Marriage Loan (w.e.f. 01.07.2008)
  • 14.75%.(Fixed)*
  • Baroda Property Loan (For Semi-Urban & Rural branches) **
    Upto Rs.2/- lacs 1.00% Above BPLR i.e.14.25%.
    Above Rs.2.lacs 2.00% Above BPLR i.e.15.25%.

    Baroda Eco Friendly Gas Kit Loan to Car Ownwers ** (w.e.f. 01.07.2008)
  • 1% above BPLR i.e. 14.25%.
  • Baroda Ashray (w.e.f. 01.07.2008)
  • Fixed Rate Option: 11.00% p.a. (Subject to re-set clause after -5- years)
  • Floating Rate Option: 2.25% below BPLR i.e. 11.00% p.a.
  • Loan for financing Individuals for subscription to Public Issues /IPO (w.e.f. 01.07.2008)
  • 0.50% below BPLR.
  • Loan against Bank’s own Deposit (LABOD) – For advances below Rs. 1 Crore

    Category Loan to depositor Loan to third party
    Domestic (Public) 1.50% over deposit rate 2% over deposit rate or 0.50% below BPLR, whichever is higher.
    Senior Citizens 1.25% over deposit rate Not applicable
    NRE Deposits (Public)# 1.50% over deposit rate 2% over deposit rate or 0.50% below BPLR, whichever is higher.

    # Maximum loan amount subject to current RBI/FEMA guidelines.

    Loan against Bank’s own Deposit (LABOD) – For advances of Rs. 1 Crore and above

    Category Loan to depositor Loan to third party
    Domestic (Public) 1.75% over deposit rate 2.25% over deposit rate or 0.50% below BPLR, whichever is higher.

    * Rate prevailing on the date of sanction will remain fixed for the entire duration of the loan.
    ** These products have since been withdrawn, rates applicable for existing loans.
    $ These rates will be applicable on existing overdraft a/cs from date of next review.

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    » Priority Sector

    Sr. No. Parameter Interest rate (per annum)
    w.e.f. 01.07.2008
    1. Direct Agriculture
    1.1 Crop loans/ Production Credit
    1.1.1 Crop loans/Production Credit up to Rs. 3 lacs. 7.00% p.a. (Fixed) Wherever Govt. of India provides 2% subvention to Banks on such advances.
    Otherwise as mentioned below:
    Upto Rs.50,000
    3.50% < BPLR i.e 9.75% pa

    Above Rs.50,000 upto Rs.2 lacs
    2.75% < BPLR i.e 10.50% pa

    Above Rs.2 lacs upto Rs.3 lacs
    1.75% < BPLR i.e 11.50% pa
    1.1.2 Crop loans/Production Credit above Rs. 3 lacs and upto Rs. 10 lacs. 1.25% < BPLR i.e.12.00% p.a.
    1.1.3 Crop loans/Production loans above Rs. 10 lacs. 0.25% < BPLR i.e.13.00% p.a.
    1.2 Investment loans (Based on aggregate limits combined with production credit)
    1.2.1 Upto Rs.50,000. 3.00% < BPLR i.e.10.25% p.a.
    1.2.2 Above Rs.50,000 upto Rs. 2 lacs 2.25% < BPLR i.e.11.00% p.a.
    1.2.3 Above Rs. 2 lacs upto Rs.10 lacs. 1.25% < BPLR i.e. 12.00% p.a.
    1.2.4 Above Rs. 10 lacs irrespective of tenure 0.25% < BPLR i.e. 13.00% p.a
    2 Indirect Agriculture/Other Priority Sector (Other than Housing Loans, Retail Lending Products & SME)
    2.1 Finance to PACS/FSS/LAMPS for on lending to farmers irrespective of loan limit/purpose. 3.50% < BPLR i.e. 9.75% p. a.
    2.2 Loans upto Rs.50,000 3.00% < BPLR i.e. 10.25% p. a.
    2.3 Above Rs.50,000 to Rs. 2 lacs - irrespective of tenure 2.50% < BPLR i.e.10.75% p.a.
    2.4 Above Rs.2 lacs but less than Rs. 25 lacs - At BPLR – 0.25% i.e. 13.00% p.a.
    • The pricing is de linked from credit rating.
    • However credit rating is to be carried out as usual to ascertain the risk profile of the portfolio.
    2.5 Rs. 25 lacs and above. Ranging from 0.85% < BPLR i.e. 12.40% p.a. to 1.00% > BPLR i.e. 14.25% p.a. for loans depending upon credit rating of individual borrower, irrespective of tenure.
    3 Finance to SHGs irrespective of loan limit/purpose 3.00% < BPLR i.e.10.25% p. a.
    4 Finance to NGOs/MFI for on lending to SHGs irrespective of loan limit/purpose. 3.50% < BPLR i.e.9.75% p. a.

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    » Micro / Small Enterprises

    (i) For loans upto Rs.2.00 lacs

    Loan Limit Irrespective of Tenure of Loan
    Upto Rs. 50,000 3% below BPLR
    Above Rs. 50,000 upto Rs. 2.00 lacs 2.50% below BPLR

    (ii) For loans above Rs. 2.00 lacs but less than Rs. 25.00 lacs

    Irrespective of Tenure of Loan
    0.25% below BPLR

    (iii) For loans of Rs. 25.00 lacs and above

    Credit Rating Irrespective of Tenure of Loan
    CR1 0.85% below BPLR
    CR2 0.50% below BPLR
    CR3 0.25% below BPLR
    CR4 @ BPLR
    CR5 0.50% above BPLR
    CR6 1% above BPLR
    CR7
    CR8
    CR9
    CR10

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    » Medium Enterprises :

    I. Accounts with fund based limits over Rs. 2/- lacs and less than Rs. 25/- lacs :
    Sr. No Particulars Irrespective of Tenure of Loan
    i) For all existing accounts as well as fresh / takeover accounts 0.25% above BPLR

    II. Accounts with fund based limits of Rs. 25/- lacs and above :
    Credit Rating Irrespective of Tenure of Loan
    CR1 0.60% below BPLR
    CR2 0.25% below BPLR
    CR3 0.25% above BPLR
    CR4 0.75% above BPLR
    CR5 1.50% above BPLR
    CR6 2.25% above BPLR
    CR7
    CR8
    CR9
    CR10

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    » Export Credit - (Interest rates w.e.f 01.07.2008)

    Interest rates for Normal Exporters

    Categories of Rupee Export Credit Credit Rating ** Rate of Interest
    Pre-Shipment Credit
    (a) Up to 180 days CR 1 to CR 3 BPLR minus 3.50% i.e, 9.75%
    CR 4 to CR 6 BPLR minus 3.25% i.e, 10.00%
    CR 7 to CR 10 BPLR minus 3.00% i.e, 10.25%
    (b) Beyond 180 days and up to 270 days. CR 1 to CR 3 BPLR plus 0.50% i.e., 13.75%
    CR 4 to CR 6 BPLR plus 0.50% i.e., 13.75%
    CR 7 to CR 10 BPLR plus 0.50% i.e., 13.75%
    (c) Against incentives receivable from Govt. covered by ECGC Guarantee up to 90 days. CR 1 to CR 3 BPLR minus 3.50% i.e, 9.75%
    CR 4 to CR 6 BPLR minus 3.25% i.e, 10.00%
    CR 7 to CR 10 BPLR minus 3.00% i.e, 10.25%
    Post-Shipment Credit
    a) On Demand Bills for transit period (as specified by FEDAI) CR 1 to CR 3 BPLR minus 3.50% i.e, 9.75%
    CR 4 to CR 6 BPLR minus 3.25% i.e, 10.00%
    CR 7 to CR 10 BPLR minus 3.00% i.e, 10.25%
    (b) Against Usance bills upto notional due date or actual due date, whichever is earlier (for total period comprising of usance period of export bills, transit period as specified by FEDAI and grace period wherever applicable
    i) Up to 90 days from the date of advance CR 1 to CR 3 BPLR minus 3.50% i.e, 9.75%
    CR 4 to CR 6 BPLR minus 3.25% i.e. 10.00%
    CR 4 to CR 10 BPLR minus 3.00% i.e, 10.25%
    ii) Beyond 90 days up to 6 months. CR 1 to CR 3 BPLR plus 0.25% i.e., 13.50%
    CR 4 to CR 10 BPLR plus 0.50% i.e., 13.75%
    c) Against incentives receivable from Govt. (covered by ECGC Guarantee) upto 90 days CR 1 to CR 3 BPLR minus 3.50% i.e, 9.75%
    CR 4 to CR 6 BPLR minus 3.25% i.e, 10.00%
    CR 7 to CR 10 BPLR minus 3.00% i.e, 10.25%
    d) Against undrawn balance (upto 90 days) CR 1 to CR 3 BPLR minus 3.50% i.e, 9.75%
    CR 4 to CR 6 BPLR minus 3.25% i.e, 10.00%
    CR 7 to CR 10 BPLR minus 3.00% i.e, 10.25%
    e) Against retention money (for supplies portion only) payable within one year from the date of shipment (upto 90 days) CR 1 to CR 3 BPLR minus 3.50% i.e, 9.75%
    CR 4 to CR 6 BPLR minus 3.25% i.e, 10.00%
    CR 7 to CR 10 BPLR minus 3.00% i.e, 10.25%
    f) Deferred Credit for the period beyond 180 days BPLR plus 3% i.e. 16.25
    Export Credit Not Otherwise Specified (ECNOS)*
    (a) Pre-Shipment Credit BPLR plus 3% i.e. 16.25%@
    (b) Post-Shipment Credit BPLR plus 3% i.e. 16.25%%
    @ Also applicable for the pre-shipment credit beyond 270 days.

    * Export Credit Not Otherwise Specified (ECNOS) are those accounts where exports do not take place within 360 days from the date of pre-shipment advance. In such cases interest should be charged from the very first day of the advance at the above-specified rate.

    Interest rates for Gold Card Holders

    Categories of Rupee Export Credit Credit Rating Rate of Interest
    Pre-Shipment Credit
    (a) Up to 180 days CR 1 to CR 3 BPLR minus 3.75% i.e, 9.50%
    CR 4 to CR 6 BPLR minus 3.50% i.e, 9.75%
    CR 7 to CR 10 NOT ELIGIBLE
    Post-Shipment Credit
    (a) Up to 365 days CR 1 to CR 3 BPLR minus 3.75% i.e, 9.50%
    CR 4 to CR 6 BPLR minus 3.50% i.e, 9.75%
    CR 7 to CR 10 NOT ELIGIBLE

    ** Branches are advised to note that all commercial advance accounts with an exposure of Rs.25 Lacs and above (FB + NFB) have to be rated and validated using the New (CRISIL) Model on the basis of financial statements for the FY ended 31.03.2007 (Circular BCC:BR:99:41 dated 10.02.07)


    Interest Rates on Exporters in Specified Sectors (Interest Subvention Scheme of 2%)

    Specified Sectors Rate of Interest
  • Textiles (including Handlooms, Jute and Carpets)
  • Readymade Garments
  • Leather Products
  • Handicrafts
  • Engineering Products
  • Processed Agricultural Products (including processed cashew, coffee and tea)
  • Marine Products
  • Sports Goods
  • Toys
  • Solvent Extracted De-oiled cake
  • Plastics & Linoleum

    All exporters from the SME Sector
    as defined in the Circular No. BCC: WB: DFB: 99/74 dated 28.07.2007

  • Interest at a flat rate of BPLR minus 4.5% (i.e. 8.75%) on pre-shipment credit upto 180 days and post-shipment credit upto 90 days on the outstanding amount (Including Baroda Gold Card holders) for the period April 1, 2007 to March 31, 2008 to all exporters irrespective of their internal credit rating.

    (Interest Subvention is to be claimed @2%)




    Interest Rates on Exporters in Specified Sectors (Interest Subvention Scheme of 4%)

    Specified Sectors Rate of Interest
  • Leather and leather manufacturers.
  • Marine products
  • All categories of textiles under the existing scheme including RMG and carpets but excluding man-made fibre,
  • Handicrafts.
  • Interest Rate not exceeding BPLR minus 6.5% MINIMUM 7% on pre-shipment credit upto 180 days and post-shipment credit upto 90days on the outstanding amount. (Interest Subvention is to be claimed @3.25%)

    Click for Interest Rates on Deposits

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