MEDICAL LOAN FOR PUBLIC
(MEDI – PLUS)
PURPOSE
Loan for individuals to avail specialized expensive
medical treatment for illness.
ELIGIBILITY
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Employees of Govt. reputed PSUs and profit making public limited companies (With minimum of 2 years of service where check off is available and 5 years in all the other cases) |
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Self employed Engineers, Doctors, CAs, MBAs with minimum 5 years standing upto the age of 60 years. |
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Pensioners of Govt. / PSUs / Public Sector Banks upto the age of 60 years. |
MINIMUM INCOME
For (a) & (c) Net Monthly Income of Rs.10000/-.
For (b) Net Annual Income of Rs.3, 00,000/- as per
latest I.T.Return.
LOAN AMOUNT
Maximum – 12 months Net Monthly Income or 1 year Net
Annual Income subject to a ceiling of Rs.3.00 lacs for
Employees & Professionals and Rs.1.00 lac for Pensioners
MARGIN
20%
SECURITY
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Tangible collateral security to the extent of 110% of loan amount (50% where check-off is available) |
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Third Party Guarantee of spouse/other person good for the loan amount. |
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Assignment of Receivables. |
REPAYMENT
Maximum 60 months.
INTEREST
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PREPAYMENT
No prepayment penalty.
LOAN AGAINST PLEDGE OF
GOLD ORNAMENTS
PURPOSE
A general purpose loan, against the pledge of gold
ornaments.
ELIGIBILITY
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Individual(s) who are over 21 years of age with steady source of income. |
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Proper introduction and having minimum capacity to service the interest |
LOAN AMOUNT
Need based/on the basis of value of Gold, less usual
margin, subject to a margin of maximum of Rs. 5.00 lacs.
SECURITY
VALUATION & MARGIN Purity of gold accepted as security
is limited to a minimum of 18 carats.
The valuation of gold is based on the published price of
the gold of 24 carat.
REPAYMENT
maximum 30 months.
INTEREST:
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PREPAYMENT
No prepayment penalty.
LOAN TO
PENSIONERS
PURPOSE
To meet personal expenses
ELIGIBILITY
All Central & State Govt. and Bank's pensioners,
whose pension accounts are maintained at our branches.
The pensioner should not be more than 70 years of age.
LOAN AMOUNT
A maximum of 12 months pension with a ceiling of
Rs.75000/-
(9 months for family pensioners with a ceiling of Rs.
60000/)
SECURITY
The spouse eligible for family pension or any other
family member or a third party worth the loan amount
should guarantee the loan.
INTEREST
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REPAYMENT
Maximum 36 months.
PREPAYMENT
No prepayment penalty.
LOAN FOR
EARNEST MONEY FOR ALLOTMENT OF A PLOT/HOUSE/FLAT
PURPOSE
To finance applicants for earnest money for booking of
residential plots/built-up houses being sold by Govt.
housing agencies like Urban Development Authorities and
Housing Board
ELIGIBILITY
Individuals above 21 years of age with a steady source
of income.
MARGIN
10%
LOAN AMOUNT
Least of the following:
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90% of application money |
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10 times Net Month Income of the applicant (in case of applications in more than one name, incomes of all the applicants may be taken into account) Rs.1,00,000.00 |
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One person can be financed only for one application at any point of time. |
SECURITY
i. Third party guarantee good for the loan amount
(In case third party guarantee is not available,
tangible security to the extent of 110% of the loan
amount)
REPAYMENT PERIOD
In case of unsuccessful applicants- on receipt of refund
from the Housing Board/Urban Development Authority.
In case of successful applicants- lump sum repayment of
the loan.
INTEREST
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PREPAYMENT
No prepayment penalty.
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