Loan Scheme| Akola Janata Bank

Business Loan

Hypothecation
Pledge of goods
Secured Cash Credit

Industrial Loan
- Hypothecation
- Pledge of goods
- Secured Cash Credit
Consumer Loan
- Hire Purchase
- Guaranteed Repayment Loan
- Loan against Gold & Silver
- Loan against Government Securities
- Loan against Immovable properties
- Secured Cash Credit
- Housing Loan
Education Loan

Interest Rates on Loans and Advances with effect from 01/05/2024
Sr.No.	Type of Loans & Advances	Applicable Interest Rates (Monthly)
Sr. No	Types of Loans & Advances	Below Rs 50 lacs	Rs 50 lacs to Below Rs 1 Cr	Rs 1 Cr to Below 5 Cr	Rs 5 Cr to Below 10 Cr	Rs 10 Cr & above	CIBIL Applicable
1	Hypothecation against Stock / Book Debt (General & SSI)	11.75%	11.00%	10.00 %			Yes
2	Secured Cash Credit (All types of A/c excluding Sr. No. 6a, 10a & 11a)	13.00%		12.00%	11.50%	10.50%	Yes
3	Secured WC Limit against Property (for Traders)	13.00%				11.50%	Yes
4	Clean Cash Credit	16.00%					Yes
5	Term Loan
	a) Loan to SSI Unit	9.00%					Yes
	b) Loan to Other than SSI Unit (excluding Sr. No. 6)	Below Rs 5 Cr 9.50%			Rs 5 Cr & above 9.00%		Yes
	c) Professional (other than Doctors)	9.50%					Yes
	d) Doctors (Project/HPL for Machinery, Multi Speciality Hospital etc)	Below Rs 5 Cr 9.00%		Rs 5 Cr to Below Rs. 10 Cr 8.50%		Rs 10 Cr and above 8.00%	Yes
6	Loan to Builders and Developers
	a) Limit Type	15.75%					Yes
	b) Project Loan (For commercial construction or purchase of shops)	14.00%					Yes
	c) Loan against Immovable Property	14.00%					Yes
7	Loan against Immovable Property (Other than Builders & Developers)	12.50%					Yes
8	Godown Construction (NABARD Scheme)	11.00%					Yes
9	G.R. / Chintamukti / Chakragati Loan	16.00%					Yes
10	Loan Against NSC/LIC policy
	a) Limit Type	13.50%					No
	b) Fixed Loan	9.00%					No
11	Loan Against Gold & Silver
	a) Limit Type	13.50%					No
	b) Fixed / EMI / CC type Loan (without Chq. Book)	9.50%					No
12	Loan against Property Rent	12.00%					Yes
13	Educational Loan	7.50%					Yes
14	Housing Loan (For personal purpose only)
	For Construction or Purchase of Residential House (Fixed Rate of Interest)	9.50%					Yes
	For Construction or Purchase of Residential House (Floating Rate of Interest)	9.00%					Yes
	For Construction or Purchase of Shop (Single/own use)	10.50%					Yes
15	Pledge
	a) Godown (Lock & Key) (Limit)	11.50%					Yes
	b) Godown (Lock & Key) (Fixed)	10.50%					Yes
	c) Loan against Warehouse Receipts ( Limit / Fixed )	9.50%					No
	d) Godown (Lock & Key)(WHR)- Cotton	12.00%					Yes
16	Hire Purchase Loan
	a) Two / Three Wheeler & Others	13.00%					Yes
	b) Four Wheelers (Car/Jeep/Comm. Vehicles)	9.50%					Yes
17	Inland Bills Purchase / Hundi	13.00%					Yes
18	Letter of Credit Discounting	13.00%					Yes
19	Saur Urja Loan (For all Category)	9.50%					Yes
20	Loan against FDR
	Loan against FDR (LAFDR) a) Deposit upto Rs. 4.99 Crores	1.00% above FDR Rate					No
	Loan against FDR (LAFDR) b) Deposit of Rs. 5.00 Crores and above	0.50% above FDR Rate					No
21	Loan against Small Savings Scheme	12.00%					No
22	Overdraft in Current Account	17.00%					No
23	Bank Guarantee (if Revokes)	16.00%					No

Note:

1	a) Penalty for Late/ Non submission of Stock Statement or Debtors list regularly (Submission due date is 15th of applicable month) For non Submission upto 15th day of month	3.00% p.a. Penal Charges + 18.00% GSt will be Applicable on overdue amount (Charged on Monthly Frequency) and will not be capitalised w.e.f.01/04/2024
	b) Temporary overdraft in excess of sanctioned limit
	c) Irregular accounts i.e. Overdue Loan, Overdue Installment,Interest Due, SMA-0, SMA-1, SMA-2, NPA Accounts etc.

Note:

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