A wholly owned subsidiary of Power Finance Corporation Ltd

 

Lending Rates

Borrower

Rate of Interest (for 3 year reset option)

(w.e.f. 29th April 2016)

For Renewable Energy Projects

(except Biomass Projects)

For Biomass

Projects

State Sector Borrowers (Category 'A+') & Identified CPSUs

& AAA rated Companies

10.50%

10.75%

State Sector Borrowers (Category 'A') & Central

Sector Borrowers (Other than Identified CPSUs & AAA rated)

10.75%

11.00%

Private Sector Borrowers: IR-1

10.50%

11.00%

Private Sector Borrowers: IR-2

10.75%

11.25%

Private Sector Borrowers: IR-3

11.00%

11.50%

Private Sector Borrowers: IR-4

11.25%

11.75%

Private Sector Borrowers: IR-5 & Non-graded

11.50%

12.00%

Click here for Effective Annualised Interest Rates.

 

Note: The Interest Rates given at I & II are subject to Terms & Conditions as below:

  1. The interest rates for 5 year reset shall be 10 bps lower than the interest rates for 3 year reset and the interest rates for 10 year reset shall be 15 bps lower than the interest rates for 3 year reset, for all new disbursements to be made w.e.f. 04.07.2014 and on all outstanding loans due for reset.
  2. The interest rates are effective from: i) RTL (3 Year Reset):01.10.2015 (for Non-Conventional Energy and R&M & R&U of Generation Projects under Non-Conventional Energy
    (within the purview of MNRE) for Private Sector-29.04.2016)
  3. The interest rates for Category ‘B’ of State Sector Borrowers shall be higher by 25 bps than the interest rates applicable to Category ‘A’ of State Sector Borrowers while the interest rates for Category ‘C’ of State Sector Borrowers shall be higher by 50 bps than the interest rates applicable to Category ‘A’ of State Sector Borrowers.
  4. The interest rates prevailing as on the date of disbursement/reset/rollovers shall be applicable.
  5. The above interest rates are net of timely payment rebate (0.25 % at present) in case of Govt. Sector Borrowers.
  6. The timely payment rebate shall not be applicable in case of Private Sector Borrowers and accordingly such interest rates shall not be grossed up and shall be offered as net of rebate.
  7. All interest rates shall be payable on quarterly rest basis
  8. “AAA” rating is the highest credit rating assigned by approved credit rating agencies; and the categories “A+”, “A”, “B”, “C” and IR-1 to IR-5 are based on PFC GEL's internal categorization methodology. Presently, the identified CPSUs are NTPC, NHPC, PGCIL, NLC, NPCIL, DVC, SJVNL, NEEPCO, THDC and any other entity as notified from time to time.
  9. Government Sector entities (other than Identified CPSUs and AAA rated companies) which are presently not being rated shall be applied interest rates as applicable to Category “A” State Sector Borrowers.

 

E & E.O.