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Fixed ROI for Retail Loans

Sl No Product Features Remarks
1 Product Tenor All personal fixed rate loan for a period not exceeding 5 years.

For products such as, but not limited to, Housing, Mortgage, Education and Vehicle loans, maximum tenor allowed is 15 years or product specific maximum term, whichever is less.
2 Switch to Floating/ Fixed and vice versa Permitted Number (s) at the time of “Reset of interest rate”.
Tenor of Loan No. of times a borrower is allowed to switch
Tenor ≤ 5 years 1 time
Tenor 5 to ≤ 10 years 2 times (once in every 5 years)
Tenor > 10 years 3 times (once in every 5 years)
3 Switch of Loan: Tenor and EMI As regards to switch, prior information on charges, effect on EMI and documentation requirement will be communicated to the borrower. Further, compliance with all terms of the loan including eligibility of borrower in terms of amount of EMI taking into account the repayment capacity of the borrower, tenor of the loan, margin requirement shall be ensured.
4 Switchover Charges per switch
Outstanding Loan Amount Switchover charges on Outstanding Balance
≤10 lakhs 0.50%
>10 lakhs to ≤50 lakhs 1.00%
>50 lakhs to ≤ 1 Crore 1.50%
>1 Crore Rs. 1.50 Lakhs

At the time of reset of interest rates, borrower will also be given option to choose for –

  1. Enhancement in EMI or elongation of tenor or for a combination of both options and
  2. To prepay, either in part or in full, at any point during the tenor of the loan.

The Rate of Interest for various Retail Loan products under Fixed rate regime is given in Interest Rates on Personal Segment Loan Products- Fixed

(Last modified on:Jul 02, 2026 at 05:17:19 am)