Below are interest rates for Mahalakshmi Cooperative Bank Fixed Deposit account:

Deposit Interest Rates

Deposits General Sr.Citizen/Institutions
15 days to 45 days 4.00% 4.50%
46 days to 90 days 4.50% 5.00%
91 days upto 180 days 6.50% 7.00%
181 days to upto 364 days 7.00% 7.50%
1 year and above upto 2 years 8.45% 8.85%
Above 2 years 8.80% 9.60%
S. B 3.50% 3.50%
JND:
For 2 years and above 4.00% 4.00%

OTHER TERMS AND CONDITIONS:

1) No withdrawal will be allowed before 6 months of opening of JND A/c.
2) Loan on J N D – 10%
3) Penalty interest of 1% will be levied in case of premature withdrawal of deposit
4) For Institutional loan on deposit: Deposit Rate of Int+1%.

Rs. 10 lakh and above
FD for 450 Days 8.50%
FD for 450 Days 8.90%

Loan Interest Rates

Loans and Advances: Percentage
Jewel Loan (1 year repayment term) 12.00 %
Express Jewel Loan (6 months repayment term) 12.50%
Vehicles Loans Non Commercial 13.00 %
Vehicles Loans Commercial 13.50 %
Vehicles Loans 2nd Hand 14.50%
Housing Loan New Construction 10.50 %
Housing Loan Old (Repair & Renovation) 13.50 %

Mortgage Loans/ Hypothecation of Machinery and Boats and Activities allied to Agriculture

a) Upto Rs.5.00 lakhs 14.00 %
b) Rs.5.00 lakhs above upto Rs.10.00 lakhs 14.50 %
c) Rs.10.00 lakhs above 14.00 %
Personal Loans 16.50%
Cash Credit/ Overdraft 14.00 %
LIC/ NSC 15.00 %
Loan on term deposits 2 % over and above the deposit rate
Loan on J N D – 10.00%





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February 26, 2024

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