PERSONAL LOAN SCHEME

PURPOSE
General Purpose Loan for Individuals viz. purchase of new consumer durable articles such as computers, televisions, refrigerators, air-conditioners, music systems, kitchen appliances, furniture, carpets etc.
Also for meeting customer specific needs like expenses on marriage, family functions, medical treatment, education, travel etc.

ELIGIBILITY

Employees of Govt./ PSUs / reputed profit making public limited companies/reputed educational Institutions with minimum 2 years service.

Self-employed engineers, doctors, architect, CAs, MBAs, with minimum 2 years standing. They should be 60 years of age or less.

Pensioners of Govt. / PSUs. Public Sector Banks who have taken VRS and are of 60 years of age or less.

MINIMUM NET MONTHLY INCOME Rs. 5,000/- per month or Rs.60000/ per annum.
 

LOAN AMOUNT
Minimum Rs.24000/-
Maximum 12 times of NMI with a ceiling of Rs.5.00 lacs (Rs.1.50 lacs for pensioners.)

SECURITY
NIL (Minimum Score on a credit scoring model required)

REPAYMENT
Maximum 48 months.

INTEREST CLICK HERE

PREPAYMENT 
No prepayment penalty.


FESTIVAL LOAN SCHEME

PURPOSE
For meeting expenditure related to festival.

ELIGIBILITY

Employees of Govt., PSUs, profit making public/private limited companies, Institutions, etc. with a minimum of 2 years service.

Self employed persons with minimum 3 years standing/experience.

Persons having regular source of income from verifiable channels like Pensions and interest from TDRs/NSCs/Govt.Securities etc.

MINIMUM INCOME
Net monthly income (NMI) of Rs. 3000/-

LOAN AMOUNT
Minimum Rs. 5000/- Maximum Rs. 50,000/-
Maximum amount of loan is restricted to four times of Net Monthly income (NMI).

SECURITY
Personal guarantee of the spouse or any other persons of adequate worth, where check-off facility is not available.

REPAYMENT  
Maximum 12 months

INTEREST RATE CLICK HERE
PREPAYMENT
No prepayment penalty.


TWO WHEELER LOAN SCHEME

PURPOSE
For purchase of new Two Wheeler of reputed make.

ELIGIBILITY  

Permanent employees of State/Central Govt. PSUs Corporations, Private Sector Companies, reputed establishments.

Professionals, self-employed and others who are income tax assessees.

Persons engaged in agriculture & allied activities.

MINIMUM NET
Net Monthly Income of Rs.5000/- for salaried persons or
INCOME Net Annual Income of Rs.60000/- for others

LOAN AMOUNT
The maximum loan amount is restricted to :
6 times of Net Monthly Income for salaried persons or
Half of Net Annual Income for other.

SECURITY

• Hypothecation of the vehicle and noting of hypothecation charge in the books of RTO and Registration Book.

• Guarantee of spouse, if his/her income has been taken into account for computing eligibility of loan amount.

• Check-off facility or third party guarantee or tangible assets to cover atleast 35% of the loan amount.


MARGIN
a) For Loan amount up to Rs.50, 000: 10%
b) For Loan amount above Rs.50, 000: 20%

INTEREST RATE CLICK HERE

REPAYMENT
Maximum: 36 months

PROCESSING FEE
1.11% of loan amount.

PREPAYMENT
No prepayment penalty.

EDUCATION LOAN (SARASWATI YOJANA)   
PURPOSE                                                  
To extend financial assistance to deserving meritorious students for pursuing higher education in India & abroad.

ELIGIBILITY

Should be an Indian National.

Secured admission to professional/technical courses in India or abroad through Entrance Test/Selection process.

Secured admission to foreign university / institutions.

LOAN AMOUNT
Need based finance subject to repaying capacity of parents / students.
Studies in India: Max. Rs. 10.00 lacs
Studies Abroad: Max. Rs.20.00 lacs

MARGIN
Up to Rs. 4 lacs : Nil
Above Rs.4 lacs :
Studies in India : 5%
Studies Abroad : 15%

INTEREST RATE CLICK HERE
LOAN AGAINST MORTGAGE OF IMMOVABLE PROPERTY

PURPOSE
General purpose loan/Line of credit

ELIGIBILITY
Individuals who are

Employees

Professionals, self-employed and others who are income tax assessees.

Engaged in agriculture and allied activities.

INCOME
Minimum Net Monthly Income Rs.12000/- for salaried persons or Net Annual Income of Rs.150000/- in case of others & self employed.

AGE LIMIT
Maximum – 60 years.

LOAN AMOUNT
Minimum – 1,00,000/-
Maximum – 24 times Net Monthly Income or 2 times Net Annual Income subject to a ceiling of Rs. 50 lacs.

SECURITY
Mortgage of property.

MARGIN
40% of the market value of the property.

REPAYMENT
Maximum – 60 months.

INTEREST CLICK HERE
PREPAYMENT
No prepayment penalty.