|
INTEREST
RATES/FINANCING PATTERN FOR PROJECT LOANS
(w.e.f. 01.01.2009)
|
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S.No.
|
Category
|
Extent
of Max. Finance Upto (%)***
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Floating
Base Rate (BR)#=13.50% p.a.
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Fixed
Rate (FR)*=(BR+1%) p.a.
|
|
A
|
EWS
Housing by all borrowers
|
90
|
|
|
|
a) |
Housing projects for widows/SC/STs, physically handicapped. Single woman
above 35 years of age & natural calamities affected areas. |
|
1.75% less than BR
|
1.75% less than
FR
|
|
|
(ii)
Others including schemes benefiting EWS family and action plan projects |
|
1.25% less than BR |
1.25%
less than
FR |
|
B
|
LIG
Housing Projects by all borrowers
|
As
per guidelines
|
0.50% less than BR
|
0.50% less than FR
|
|
C
|
All
other schemes i.e. other than as per A&B above
|
|
(i)
|
Police organization & govt. / public borrowers
|
90
|
At BR
|
At
FR
|
|
(ii) |
Direct Government
Borrowing/Rated Govt. Agencies ('AA' & above or equivalent rating by CRISIL,
ICRA, CARE & FITCH) and Navaratna/ Miniratna PSUs & their SPVs |
90
|
0.25% less
than BR
|
0.25% less
than FR |
|
(iii)
|
Other
Borrowers**
|
70
|
|
|
|
a) |
Not rated |
|
BR+1%
|
FR+1%
|
|
b) |
Rated Private Company #
('AA' & Above or equivalent rating by CRISIL, ICRA, CARE & FITCH) |
|
BR+0.75%
|
FR+0.75%
|
|
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INTEREST RATE
REBATES AVAILABLE FOR ALL LOANS : |
|
|
Loan secured by
Bank guarantee alone |
0.25% |
@
For Real Estate Projects (i.e. Malls, Market Complex, Office Complex, IT
Parks, Hotels, Resorts, Entertainment, SEZ, SPA, Health Club, Wellness Centres)
the applicable rates will be BR/FR+2% for (C)(ii)(a), BR/FR+1% for (C)(ii)(b)
and BR/FR+2.50% for (C)(ii)(c).
#
A fixed rebate of 0.25 per cent shall be applicable to rated private sector
agencies ('AA' and above or equivalent rating by recognised agencies, i,e ICRA,
CARE, CRISIL and FITCH) on their eligible fixed or floating base rate as per the
option of the borrower.
*
Extent of Finance is maximum available. However, actual loan will be
based on Debt Equity Ratio, Means of Financing as per DPR, extent of security
requirement or Maximum Extent of Finance, whichever is less.
**
HUDCO
reserves the right to review and revise the Floating Base Rate (BR) as and when
necessary.
***
Loan
sanctioned/released at Fixed Rate (FR) shall be automatically reset upon expiry
of every 3 years at then prevailing fixed rates (FR) from the date of first
release. The resetting shall be effective from 1st day of
quarter/month (as per billing cycle) in which resetting is due. Necessary
provision in the agreement will be necessary stating that “Borrower is
agreeable for automatic reset upon expiry of 3 years at then applicable fixed
rates (FR) and shall execute a supplementary agreement to this effect in case of
resetting of loan on fixed rates (FR) as per this circular.
However, borrowers are given an option to prepay the loan without
prepayment charges after 3 years as an alternative to automatic reset.”
****
Subject
to borrower maintaining rating of AA or more during entire tenure of loan.
However, the rebate in interest rate as per specified norms shall be available
during the validity of rating i.e., from the date of rating or date of release
of loan whichever is later, and upto validity of rating. The borrower shall also
submit annual rating before end of each financial year. Further, in case of
subsequent downgrading of rating below AA or non submission of annual rating
before end of financial year, interest rates applicable to ‘Not rated’
borrowers shall become applicable from first day of next billing date for the
period rating remains downgraded/not submitted.
