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Thursday, 17-May-2012

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INTEREST RATES ON ADVANCES

OTHER PERSONAL LOANS
(irrespective of the size of the advance)

Category of advances	Rate of Interest (% p.a.)
1. Fully secured against	Existing	Revised
a) Govt. of India Relief Bonds
Card Limit :
Short term other than OD	14.50	13.75
Term Loans	15.00	14.25
Overdrafts	15.50	14.75
b) National Savings Certificates (NSC),
Indira Vikas Patras (IVPs),	15.25	14.50
Kisan Vikas Patras (KVPs), LIC Policies
c) Public Sector Bonds, Shares and Debentures, Units of mutual funds including UTI, etc., Stockash Scheme.	13.25	12.50
d) 6.75% Tax free US 64 bonds (guaranteed by Govt. of India) (Ref.Br.Cir. No.97/69 dated 22.08.03)
a) Loans/overdraft facility repayable in <3 years (BPLR+0.50%)	13.75	13.00
b) Loans/overdraft facility repayable in >3 years (BPLR+ 1% )	14.25	13.50
e) Assured Returns Scheme (ARS) Bonds (guaranteed by Govt. of India)	11.00	10.25
f) Units of debt oriented mutual funds	11.50	10.75
g) warehouse receipts	11.50	10.75
h) Gold Ornaments/Articles	12.50	11.75

2.Against Bank’s Term Deposit Receipts (FDR/SDR/MIC/RD/DBD/Cash Certificate) a) Domestic/NRE Deposits

i) Where the deposit stands in the name of the borrower - 2% per annum higher than the rate of interest payable on relative deposit.
ii) Where the deposit stands in the name of third party/parties both for personal advances and business activities interest is to be charged at 2% higher than the rate of interest payable on the relative deposit or BPLR, whichever is higher.

b) Rupee advances against FCNR-B deposits /RFC Where the deposit stands in the name of the borrower or third party/parties

i) Loans	BPLR i.e. 12.50%
ii) Overdraft or Cash Credit	BPLR + 1% i.e. 13.50%

	Existing	Revised
3) Partly secured/clean advance with or without guarantee	18%	17.25%

4. Loans For Branch Premises - (New Accounts after 01.12.2003)

Size of the Limit
Upto Rs.2 lakhs	13.25%	12.50%
Over Rs.2 lakhs	14.25%	13.50%
(i.e. as applicable to "AAA" rated borrowers)

The periodical revision of interest rate would not be made applicable to Premises Loans and the rates of interest charged at the time of sanction would remain unchanged

Large / Mid Corporate Credit
Export Credit

Export Credit I. Export Credit in Foreign Currency In terms of prescribed ceiling by RBI in Export Credit in Foreign Currency at LIBOR plus 200 bps, the following will be the rates of interest for export credit in foreign currency, with immediate effect

		Interest Rates (per annum)
1	Pre-shipment Credit
	(a) Upto 180 days	Not exceeding 200 basis points over LIBOR/ EURO LIBOR/ EURIBOR
	(b) Beyond 180 days and upto 360 days	Rate of initial period of 180 days prevailing at the time of extension plus 200 bps
2	Post-shipment Credit
	(a) On demand bills for transit period (as specified by FEDAI)	Not exceeding 200 basis points over LIBOR/ EURO LIBOR/ EURIBOR
	(b) Usance bills (for total period comprising usance period of export bills, transit period as specified by FEDAI and grace period as wherever applicable) Upto 6 months from the date of shipment	Not exceeding 200 basis points over LIBOR/ EURO LIBOR/ EURIBOR
	(c)Export bills (demand or usance) realised after due date but upto date of crystalisation	Rate for 2(b) above plus 200 basis points

3. Up-front commission:

Exporter customers whose transaction value is less than USD 1 million	100 bps p.a.
Exporter customers whose transaction value is USD 1 million and above	50 bps p.a.

I . Rupee Export Credit other than specified sectors

Category of Export Credit
	Rates w.e.f. 01.07.10	Rates w.e.f. 01.07.10
(1)	Large Corporate	Mid Corporate
1. Pre-shipment Credit
a) i) Period upto 180 days	9.25	9.50
ii) Beyond 180 days and upto 270 days	9.25	9.50
b)Against incentives receivables from Govt. covered by ECGC Gtee upto 90 days	9.25	9.50
2. Post-shipment Credit
a) On Demand Bills for transit period (as specified by FEDAI)	9.25	9.50
Usance Bills * Upto 90 days	9.25	9.50
ii) Beyond 90 days upto 6 months from the date of shipment	9.25	9.50
iii) Upto 365 days for exporters under Gold Card Scheme	9.25	9.50
c) Against incentive receivable from Govt. covered by ECGC Gtee (upto 90 days)	9.25	9.50
d)Against undrawn balances (upto 90 days)	9.25	9.50
e) Against retention money (for supplies portion only) payable within 1 year from the date of shipment (upto 90 days)	9.25	9.50
3. Deferred Credit – For the period beyond 180 days	Base Rate+ Credit Risk Spread	Base Rate + Credit Risk Spread
4. Export Credit Not otherwise Specified (ECNOS) a) Pre-shipment Credit b) Post Shipment Credit	Base Rate +5.00% Base Rate +5.00%	Base Rate +5.00% Base Rate +5.00%

* For total period comprising usance period of export bills, transit period as specified by FEDAI and grace period wherever applicable.

@Banks to decide keeping in view PLR and spread guidelines.

2. The above rates are also applicable to Export Goldcard holders. 3. The normal transit period NTP for exports to Iraq has been enhanced to 120 days from the date of shipment. Accordingly, the rates of interest applicable for post shipment exports to Iraq for a temporary period as a special case is as under.

	Applicable rate of int. (% p.a.) Upto 07.09.2008	Applicable rate of int. (% p.a.) w.e.f. 08.09.2008
a) On demand bills for transit period (as specified by FEDAI) upto 120 days	10.25	10.75

b) Usance bills

i) upto 120 days	10.25	10.75

ii) beyond 120 days and upto six months from the date of shipment	13.75	14.25

Announcement

Watch recorded webcast for Press Meet 30.04.2012

Watch recorded webcast for Analyst’s Meet 30.04.2012

Analyst Presentation for 31.03.2012

Financial Result for year ended 31.03.2012

Any complaint regarding NEFT transactions during 20.02.2012 to 6.03.2012 may be escalated to email ID Special.NEFT@bankofindia.co.in or on telephone No. 022-22886680 for immediate resolution.

Chairman & Managing Director's Message & Address

Bank has decided to decrease the Bank’s Base Rate from 10.75% p.a. to 10.50%p.a. and BPLR from 15.00% p.a. to 14.75% p.a. with effect from 01.05.2012

The Managing Committee of the Indian Banks’ Association has appointed Shri Alok K Misra , Chairman and Managing Director, BANK OF INDIA as Deputy Chairman of the Association

Pension Calculator is available on Knowledge Portal front page

Press release launching of Mobile Based Remittance, Urban Financial Inclusion and two factor Authentication

Notice for Debit and ATM cardholders

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