State Mortgage & Investment Bank

Mortgage Loans

Category	Type of Income	Up to 07 Years( p.a. )	7-10 years( p.a. )	Above 10 years( p.a. )
Category 01	Salaried income or professional income	14.50 %	15.25 %	16.50 %
Category02	Other than Salaried Income (Business and Foreign Employment etc.)	15.50 %	16.50 %	N/A

Personal Loans – Property Mortgage

Category	Type of Income	Up to 07 Years (p.a.)	7-10 years (p.a.)	Above 10 years(p.a.)
Category 01	Salaried income or professional income	15.25 %	17.00 %	17.50 %
Category 02	Other than Salaried Income (Business and Foreign Employment etc.)	16.00 %	17.00 %	N/A

EPF, Personal, Vehicle and Business Loans

Loan Category	Period / Amount	Revised Rate (p.a)
EPF Loans	Up to 05 years	16.00 %
	Up to 10 years	16.75 %
	Up to 15 years	18.00 %
Personal Loans
Professionals^*, Employees in Government/Semi Government Institutions	Up to 05 years	17.00 %
	Up to 07 years	18.00 %
Private Sector Employees	Up to 05 years	19.50 %
Private Sector Employees	Up to 07 years	20.00 %
Business Loan (Up to 5 years)
Code No 828	Against movable or immovable property	16.00 %
Code No 829	Against individual or director personal guarantor	20.00 %
Business Development Loan to individual and corporate clients
Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities (Code No 878)	Against movable or immovable property	16.00 %
Loans granted for herbal plantation and related activities / organic fertilizer manufacturing and related activities (Code No 879)	Against individual or director personal guarantee	20.00 %
Low Income Group	Up to 05 years	20.00 %
Vehicle Loan	Up to 05 years	20.00 %
Vehicle Loan	Up to 07 years	20.00 %
Loan Scheme for Micro, Small and Medium enterprises	-	20.00 %
Supplementary Festival / Salary Advance Loan Scheme	-	19.50 %

^*Professional Income - Income generated through an acceptable professional qualification or as directed by the bank.

Variable Interest Rates (Floating Interest Rate)

Retail Category – Hybrid Rates

Fixed

Customer Category		Privilege	Gold	Silver	Repricing
Group Code	Loan Category	A and above	BBB, BB	B & below	Repricing
832/842	EPF Loans	15.00%	15.25%	15.75%	Annually – 01^st Jan of each year(First repricing date is 01.01.2025)
839/840	Estate Loans	15.00%	15.25%	15.75%
833/843	Mortgage Loans	12.50%	13.50%	14.50%
834/844	Personal Loans	16.25%	16.50%	16.75%
835/847	Personal Mortgage	14.00%	14.50%	15.50%
838/845	Vehicle loans (Mortgage)	18.00%	18.50%	19.00%

Note -Fixed rates applicable up to 31.12.2024 and repricing to take effect from 01.01.2025 onwards

Variable

Customer Category			Privilege	Gold	Silver	Repricing
Group Code	Loan Category	Base Rate(AWPLR)	Minimum Margin Based on Risk Rating
Group Code	Loan Category	Base Rate(AWPLR)	A and above	BBB, BB	B & Below
832/842	EPF	03 Months AWPLR	+ 2.5%	+3.5%	+4.5%	Annually – 01^st Jan of each year
839/840	Estate Loans		+ 2.5%	+3.5%	+4.5%
833/843	Mortgage Loans		+ 2.5%	+3.0%	+4.0%
834/844	Personal Loans		+ 3.5%	+4.0%	+5.0%
835/847	Personal Mortgage		+ 3.0%	+3.50%	+4.50%
838/845	Vehicle loans (Mortgage)		+3.5%	+4.0%	+5.0%

Floor Rate applicable for Retail category is 14.00%p.a

Fixed rate of 12.50% p.a.
applicable for the first 02 years from date of the first disbursement of the loan.
After completion of the first two years, loans should be repriced as follows,

Customer Category			Privilege	Gold	Silver	Repricing
Group Code	Loan Category	Base Rate(AWPLR)	Minimum Margin based on Risk Rating
Group Code	Loan Category	Base Rate(AWPLR)	A and above	BBB, BB	B & Below
833/843	Mortgage Loans	03 Months AWPLR	+ 2.5%	+3.0%	+4.0%	Annually – After 24 months.
835/847	Personal Mortgage	03 Months AWPLR	+ 3.00%	+3.50%	+4.50%	Annually – After 24 months.

Floor Rate applicable for this loan is 14.00%p.a.

Business Category – Hybrid Rates

Fixed

Customer Category	Privilege	Gold	Silver	Reprising
896/848	Business Loan - Mortgage	13.50%	14.50%	15.50%	Annually - 01^st Jan of each year (First repricing date is 01.01.2025)
897/849	Business Loan - Other than Mortgage	17.75%	18.75%	19.50%

Customer Category

Privilege

Gold

Silver

Reprising

Group Code

Loan Category

A and above

BBB, BB

B & Below

896/848

Business Loan - Mortgage

13.50%

14.50%

15.50%

Annually - 01^st Jan of each year (First repricing date is 01.01.2025)

897/849

Business Loan - Other than Mortgage

17.75%

18.75%

19.50%

Note - Fixed rates applicable up to 31.12.2024 and repricing to take effect from 01.01.2025 onwards

Variable

Business Category			Privilege	Gold	Silver	Repricing
Group Code	Loan Category	Base Rate(AWPLR)	Minimum Margin based on Risk Rating
Group Code	Loan Category	Base Rate(AWPLR)	A and above	BBB,BB	B & Below
832/848^*	Business Loan - Mortgage	Monthly	+2.5%	+3.0%	+4.0%	Quarterly
896/848^*	Business Loan - Mortgage	Monthly				Annually
890/848	Business Loan - Mortgage	03 M				Quarterly
892/848	Business Loan - Mortgage	03 M				Semi Annual
894/848	Business Loan - Mortgage	06 M				Annually
837/849^*	Business Loan - Other than Mortgage	Monthly	+3.0%	+4.0%	+5.0%	Quarterly
897/849^*	Business Loan - Other than Mortgage	Monthly				Annually
891/849	Business Loan - Other than Mortgage	03 M				Quarterly
893/849	Business Loan - Other than Mortgage	03 M				Semi Annual
895/849	Business Loan - Other than Mortgage	06 M				Annually

Floor Rate applicable for Business category is 14.00% p.a.

^*Usage of Monthly AWPLR as base rate is subject to the prior approval from DGM/C or higher authority.

Maximum Loan Period for Loans

Loan category	Condition Applied
EPF & Estate Loans	Maximum up to 15 years.
Mortgage Loans	Period restricted based on type of income
Personal Loans	Maximum up to 07 years. Gross income multiplier will apply.
Personal Mortgage	Period restricted to type of income
Vehicle Loans(Mortgage)	Maximum up to 07 years

LOANS & ADVANCES