• Interest
rate during the first year (j.e.till first anniversary
date from the date of
first disbursement) fixed at 8 % p.a.
• Interest rate during next two years is fixed at 9% p.a.
• Interest rate after three years may be fixed or floating as per the borrower’s
choice made at the time of sanction. If floating rate option is chosen, then
the rate will be 2.5% below SBMPLR prevailing on the third anniversary date from
the date of first disbursement with a minimum of 10%p.a. If fixed rate option
is chosen, then the rates will be 0.75% below SBMPLR prevailing on the third
anniversary date from the date of first disbursement with a minimum of 11%p.a.
and shall
have a reset frequency of 5 years from the third anniversary date of the loan.
Fixed interest rate shall be subject to force – majeure clause.
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