Assam Gramin Vikash Bank was formally launched on the 12th of January 2006. It is an malgamation of Pragjyotish Gaonlia Bank, Lakhimi Gaonlia Bank, Cachar Gramin Bank and Subansiri Gaonlia Bank, all sponsored by United Bank of India.

About ourselves

The idea of Regional Rural Banks (RRBs) was mooted by the Govt. of India in the year 1975 to bring about the desired uplift of the rural economy and accordingly promulgated an Ordinance...


 
 
 

Rate of Interest

Revision of Rate of Interest on Term Deposits w.e.f. 22.03.2017
The Rates of Interest on Term Deposits of the Bank has been revised as follows. The revised rates will be effective from 22.03.2017

 

PERIOD OF DEPOSIT

EXISTING
w.e.f 09.01.2017

Revised
w.e.f. 22.03.2017

Upto Rs 1.00 Crore

Above Rs 1.00  crore

Upto Rs 1.00 Crore

Above Rs 1.00  crore

7 days to 14 days **

4.00

3.75

4.00

4.10

15 days to 29 days

4.00

3.75

4.00

          4.10

30 days to 45 days

4.00

3.75

4.00

          4.10

46 days to 60 days

4.00

3.85

4.00

4.25

61 days to 90 days

4.50

3.85

4.50

4.25

91 days to 180 days

5.00

3.85

5.00

4.25

181 days to 269 days

5.75

4.00

5.75

          5.00

270 days to less than 1 year

6.25

4.00

6.25

5.00

1 Year

  6.75*

4.25*

 6.75*

5.00*

Above 1 year to less than 2 years

  6.75*

5.25*

 6.75*

5.25*

2 years to less than 3 years

  6.75*

6.00*

6.75*

5.50*

3 years to less than 5 years

  6.50*

6.00*

6.50*

5.50*

5 years and above

  6.50*

6.00*

6.50*

5.50*

Tax Savers Term Deposit

          6.00*

X

6.00*

X

Majoni Deposit Scheme

          6.00

X

           6.00

X



*Additional rates of interest of 0.50 % applicable for senior citizens for deposits of 1 year and above.
**For bulk deposits (Rs.15.00 lakh and above)

Aforementioned rates will be applicable to fresh deposits as well as on renewal of matured deposits and rates are subject to revision at any time.

Further, additional interest at the following rates may be allowed to the depositors belonging to the categories mentioned below.

i) Staff                                            : 1.00% over normal rate
ii) Ex-Staff (Senior Citizen)               : 1.50% over normal rate


Penal charges for pre-mature withdrawal of Term deposits:


i) Deposits remained with the Bank for less than 07 days                         :  No interest payable
ii) Premature closure of Term Deposits for re-investment in our Bank
for a period not less than the remaining term of the original deposit         :  Nil


Rate of Interest Chart on various categories of loans & advances (linked with Base Rate = 9.65%)


PRIORITY SECTOR ADVANCES
 
A) Agricultural Advances (Term Loan / Cash Credit / KCC / Rural Godown / Tractor / Power Tiller etc.
             

Existing Revised
Limit Rate of Interest Limit Rate of Interest
Up to Rs. 50,000/-                               BR + 0.00% i.e. 09.90% Up to Rs. 50,000/-                               BR + 0.00% i.e. 09.65%
> Rs. 50,000/- up to Rs. 2.00 lac BR + 1.10% i.e. 11.00% > Rs. 50,000/- up to Rs. 2.00 lac BR + 1.10% i.e. 10.75%
> Rs. 2.00 lac up to Rs. 5.00 lac BR + 2.35% i.e. 12.25% > Rs. 2.00 lac up to Rs. 5.00 lac BR + 2.35% i.e. 12.00%
> Rs. 5.00 lac up to Rs. 25.00 lac BR + 3.60% i.e. 13.50% > Rs. 5.00 lac up to Rs. 25.00 lac BR + 3.60% i.e. 13.25%
Above Rs. 25.00 lac As per credit risk rating
Maximum = 14.50%
Minimum = 11.00%
Above Rs. 25.00 lac As per credit risk rating
Maximum = 14.25%
Minimum = 10.75%
Crop Loan up to Rs. 3.00 lac 9.00% (fixed) Crop Loan up to Rs. 3.00 lac 9.00% (fixed)


Note:

1. Bank will charge on all direct agricultural advances on half-yearly basis. However, interest on current dues, i.e. Crop Loans & Installments not falling due in respect of Term Loans should not be compounded.

2. When Crop Loan or installment under Term Loan becomes overdue, outstanding interest to be added to the principal and interest would be compounded. However, total interest debited to an account should not exceed the principal amount in respect of Short Term Agricultural Advances to Small & Marginal Farmers.

3. In case of Short Term Production Credit up to Rs. 3.00 lac, the applicable rate of interest shall be 7.00% payable as per norms on due date. Branches will prepare half-yearly statement of actual disbursement / drawal of Crop Loan and calculate Interest Subvention @ 2.00% and submit to respective Regional Offices as per extant H.O. Circular. Concession in Rate of Interest by 3.00% for timely payment of bank dues in terms of Government Directives will also continue. However, if the loan is not repaid within due date overdue accounts with limit up to Rs. 3.00 lac), normal rate of interest (i.e. 9.00% or as the case may be) will be applicable.

 
B)* SHG / Handloom Weavers’ Group (HWG) / Advances to NGOs / Financing MFI & other similar advances
             

Existing

Revised

Limit

Rate of Interest

Limit

Rate of Interest

Up to Rs. 50,000/-                               BR + 0.00% i.e. 09.90% Up to Rs. 50,000/-                               BR + 0.00% i.e. 09.65%
> Rs. 50,000/- up to Rs. 2.00 lac BR + 1.10% i.e. 11.00% > Rs. 50,000/- up to Rs. 2.00 lac BR + 1.10% i.e. 10.75%
> Rs. 2.00 lac up to Rs. 5.00 lac BR + 2.35% i.e. 12.25% > Rs. 2.00 lac up to Rs. 5.00 lac BR + 2.35% i.e. 12.00%
> Rs. 5.00 lac up to Rs. 25.00 lac BR + 3.60% i.e. 13.50% > Rs. 5.00 lac up to Rs. 25.00 lac BR + 3.60% i.e. 13.25%
Above Rs. 25.00 lac As per credit risk rating
Maximum = 14.50%
Minimum = 11.00%
Above Rs. 25.00 lac As per credit risk rating
Maximum = 14.25%
Minimum = 10.75%

 
** Interest rate is to be fixed in terms of per capita finance

Note:

In case of loans up to Rs. 3.00 lac sanctioned to NRLM compliant women SHGs in the identified Category-I districts of Assam viz., Dhemaji, Hailakandi, Jorhat and Nagaon, the applicable rate of interest shall be 7.00% (fixed). In case the borrower fails to repay the loan installments in time and the account becomes overdue, normal rate of interest as mentioned in the table above shall be applicable. In all other districts (excluding Dhemaji, Hailakandi, Jorhat and Nagaon), normal interest rate shall be applicable as per table given above. Concession in Rate of Interest for prompt repayment of bank dues shall be available to NRLM compliant women SHGs in terms of Government Directives as circulated by HO from time to time.

C) Advance to MSME, SSI, RTO, PSEP etc.

Existing

Revised

Limit

Rate of Interest

Limit

Rate of Interest

Up to Rs. 25,000/-                               BR + 0.00% i.e. 09.90% Up to Rs. 25,000/-                               BR + 0.00% i.e. 09.65%
> Rs. 25,000/- up to Rs. 2.00 lac BR + 1.35% i.e. 11.25% > Rs. 25,000/- up to Rs. 2.00 lac BR + 1.35% i.e. 11.00%
> Rs. 2.00 lac up to Rs. 5.00 lac BR + 2.35% i.e. 12.25% > Rs. 2.00 lac up to Rs. 5.00 lac BR + 2.35% i.e. 12.00%
> Rs. 5.00 lac up to Rs. 25.00 lac BR + 2.85% i.e. 12.75% > Rs. 5.00 lac up to Rs. 25.00 lac BR + 2.85% i.e. 12.50%
Above Rs. 25.00 lac As per credit risk rating
Maximum = 14.50%
Minimum = 11.00%
Above Rs. 25.00 lac As per credit risk rating
Maximum = 14.25%
Minimum = 10.75%

 
 D) Other schemes under priority Sector                                                                                               

Other schemes Existing
(Fixed Interest Rate)
Revised
(Fixed Interest Rate)
a) Asomi Jana Rin Achani 10.00% 09.75%
b) Asomi Bhumishri Yojana 12.00% 11.75%
c) Asomi Sulav Credit Card 12.00% 11.75%
d) Randhanjyoti  Scheme (for Rural Areas) 11.00% 10.75%
e) Urban Credit Card 13.00% 12.75%
f) Asomi Farmer’s Credit Card 11.00% 10.75%
g) Capital investment subsidy schemes As specified by the Govt. As specified by the Govt.
h) Asomi Mahila Mangal Yojana 12.00% 11.75%
i) Swarojgar Credit Card 11.00% 10.75%
j) AGVB Solar Energy Scheme As per Circular on the Scheme As per Circular on the Scheme
k) Loan to ST-SHG under NSTFDC scheme 6% 6%
l) Loan to persons with disabilities under NHFDC scheme As per Circular on the Scheme As per Circular on the Scheme
m) OD to BSB deposit accounts under PMJDY BR + 2.00% i.e. 11.90% BR + 2.00% i.e. 11.65%
n) AGVB Personal Loan Scheme to Farmers 12.50% 12.25%

E) Other Priority Sector (Retail Trade / Small Business up to Rs. 20.00 lac) (both Term Loan & Cash Credit)

Existing Revised
Limit Rate of Interest Limit Rate of Interest
Up to Rs. 25,000/-                               BR + 0.60% i.e. 10.50% Up to Rs. 25,000/-                               BR + 0.60% i.e. 10.25%
> Rs. 25,000/- up to Rs. 2.00 lac BR + 2.10% i.e. 12.00% > Rs. 25,000/- up to Rs. 2.00 lac BR + 2.10% i.e. 11.75%
> Rs. 2.00 lac up to Rs. 5.00 lac BR + 2.85% i.e. 12.75% > Rs. 2.00 lac up to Rs. 5.00 lac BR + 2.85% i.e. 12.50%
> Rs. 5.00 lac up to Rs. 25.00 lac BR + 3.60% i.e. 13.50% > Rs. 5.00 lac up to Rs. 25.00 lac BR + 3.60% i.e. 13.25%
Above Rs. 25.00 lac As per credit risk rating
Maximum = 14.50%
Minimum = 11.00%
Above Rs. 25.00 lac As per credit risk rating
Maximum = 14.25%
Minimum = 10.75%

 
F) Retail Credit Schemes under Priority Sector                                                               
i) Educational loan (Asomi Gyandeep Loan Scheme)

Limit Existing Revised
Up to Rs. 4.00 lac BR + 1.35% i.e. 11.25% BR + 1.35% i.e. 11.00%
Above Rs. 4.00 lac BR + 2.10% i.e. 12.00% BR + 2.10% i.e. 11.75%

 
Note: The rate of interest on this scheme will be on monthly and simple basis during the moratorium period and thereafter compounded. .
 
i) DRI Advance

DRI Advance 4.00% (Fixed)

4.00% (Fixed)


iii) Housing loan (Asomi Grihashree Loan Scheme)

Existing Revised
BR + 0.10% i.e. 10.00% (irrespective of amount and repayment period up to 30 years) BR + 0.10% i.e. 09.75% (irrespective of amount and repayment period)

Note:-

(a) Loan for 2nd housing unit, additional 0.50%, across the board in all slabs.
(b) No loan will be extended for purchase of 3rd housing unit
(c) Housing loan up to Rs. 25.00 lac shall be under Priority Sector
 
NON PRIORITY SECTOR ADVANCES
 

Nature of loan / Limit Existing Revised
  1. General Non Priority Sector Advances (both Term Loan & Cash Credit) for limit over Rs.10.00 lac
Interest rate based on credit risk rating of the borrower Interest rate based on credit risk rating of the borrower
  1. Advance Against face value of NSC / KVP and  surrender value of LIC with minimum 10% margin (both T/L & OD)
Term loan
BR + 1.85% i.e. 11.75%
Overdraft
BR + 2.85% i.e. 12.75%
Term loan
BR + 1.85% i.e. 11.50%
Overdraft
BR + 2.85% i.e. 12.50%
  1. Advance against Term Deposit of the Bank with minimum 10% margin (both T/L & OD)
2.00% above the rate of interest on deposit (no ceiling) 2.00% above the rate of interest on deposit (no ceiling)
  1. Advance against 3rd party deposit having minimum 25% margin (both T/L & OD)
2.50% above the deposit rate 2.50% above the deposit rate
  1. AGVB Consumer Durable Loan scheme
      (a) Individual
(b) Individual with 50% collaterization
  15.00% (fixed)
14.50% (fixed)
  14.75% (fixed)
14.25% (fixed)
  1. AGVB Car Loan Scheme
 
For New Car:
BR + 0.50% i.e. 10.40%
For Old Car:
BR + 1.00% i.e. 10.90%
(irrespective of repayment period)
For New Car:
BR + 0.50% i.e. 10.15%
For Old Car:
BR + 1.00% i.e. 10.65%
(irrespective of repayment period)
  1. Personal Loan Scheme
 
  1. AGVB Personal Loan
  2. Premium Personal Loan
  14.50%
14.25%
  14.25%
14.00%
  1. Trade Credit Scheme  (Priority Sector within purview of its  limit & Non Priority Sector)
BR + 3.85% i.e. 13.75% BR + 3.85% i.e. 13.50%
  1. Asomi Mortgage Loan Scheme
For Term Loan:
BR + 1.85% i.e. 11.75%
For OD:
BR + 2.10% i.e. 12.00%
For Term Loan:
BR + 1.85% i.e. 11.50%
For OD:
BR + 2.10% i.e. 11.75%
  1. Advance to Landlord
BR + 2.85% i.e. 12.75% BR + 2.85% i.e. 12.50%
  1. Adhoc / Temporary Overdraft (Applicable for existing limits)
2% over and above normal rate applicable for regular limit or at any other rate stipulated by the sanctioning authority subject to a ceiling of BR + 6.60% i.e. 16.50% 2% over and above normal rate applicable for regular limit or at any other rate stipulated by the sanctioning authority subject to a ceiling of BR + 6.60% i.e. 16.25%
  1. Tax Savers Personal Loan
Scheme withdrawn Scheme withdrawn
  1. Real Estate other than specified schemes
Up to Rs. 25.00 lac
Above Rs. 25.00 lac
  BR + 4.10% i.e. 14.00%
As per credit risk rating
  BR + 4.10% i.e. 13.75%
As per credit risk rating

                                                                            

Note:-

1. Rate of interest on any scheme not specified hereinabove will be covered by specific activity wise rate under Priority / Non-Priority sector as the case may be.

2. The revised rate will also be effective for all new as well as existing borrowal accounts. The accounts enjoying fixed rate of interest with a reset clause are to be reviewed as per terms of sanction and new rate to be made applicable.

3. For fresh advance under all tie-up arrangements, the percentage of concession allowed from card rate will only remain constant. However, under no circumstances the effective Rate of Interest should be lower than Bank’s Base rate i.e. 9.65% at present after allowing all types of applicable concessions, if any, unless otherwise instructed specifically.