Know about RLLR
The RLLR has been changed from 7.90% to 8.40% {Repo Rate (5.90%) + Mark-up (2.50%)} w.e.f. 01-10-2022 for all customers. Along with RLLR BSP of 25 bps will be charged.
All new floating rate personal or Retail loans (housing, auto etc.) and floating rate loans to Micro, Small and Medium Enterprise loans w.e.f. 08th November 2021 onwards will continue with the mark up of 2.50% + 25bps of BSP and the same will be reset after 3 years from the date of opening of the account.
Existing floating rate personal or Retail loans (housing, auto etc.) and floating rate loans to Micro, Small and Medium Enterprise loans w.e.f. 17th September 2021 to 07th November 2021 shall continue with the mark up of 2.55% + 25bps of BSP and the same will be reset after 3 years from the date of opening of the account.
However, in case of existing floating rate Personal or Retail loans (housing, auto etc.) and floating rate loans to Micro, Small and Medium Enterprise loans w.e.f 01st September 2020 to 16th September 2021 shall continue with the existing Mark-up of 2.80% and the same will be reset after 3 years from the date of opening of the account.
Further, in case of existing borrowers with loans (linked to RLLR) sanctioned between 01st October 2019 and 31st August 2020, will continue with the Mark-up of 2.65% which shall be reset after a period of three years from the date of opening of the account.