Personal Loan

 

PERSONAL LOAN

PURPOSE

For personal need

ELIGIBILITY

Individuals/Professional & self employed

MAX.LOAN AMT.

Rs.2.00 lacs

RATE OF INTEREST

12.00%

TENURE

36 months

MODE OF REPAYMENT

PDCS/ECS/THRU ACCOUNTS/salary deductions

COST ELIGIBILITY

N.A.

MARGIN

N.A.

AMT.ELIGIBILITY

As per needs

INCOME ELIGIBILITY

SALARIED INDIVIDUALS

Net/take home salary should be sufficient to service the proposed EMI

BUSINESSMEN/SELF EMPLOYED/PROFESSIONALS

1. Cash Accruals (i.e. Net Profit +Depreciation) should be sufficient to service the proposed EMI

FOR BOTH THE ABOVE, TAKE HOME SALARY SHOULD BE MINIMUM 35% OF THE GROSS SALARY INCLUSIVE OF THE PROPOSED LOAN REPAYMENT

DURATION OF SERVICE/ BUSINESS

Salaried: Confirmed service of  yrs

Business/Proffessionals-3 yrs

PRIMARY SECURITY

Nil

COLLATERAL SECURITY

On case to case basis

GUARANTORS

Two guarantors of good means acceptable to the bank

REQUIREMENTS

1. Loan application form

2.Borrowers and two guarantors-3 years I.T. returns for business/in case of salaried-form No.16

3.Account to be opened fulfilling the KYC norms/ KYC norms for guarantors to be complied with.

5.Borrowers/Guarantors- Bank statement for last 6 months of the applicant's existing bankers

6.Undertaking from the employer to deduct the installment amount from the borrowers/guarantor's salary and remitting the same to our bank

OTHER

CONDITIONS

 

Borrowers/Guarantors should have satisfactory track record and should not be an NPA with any other banks/FI.

** Terms & Conditions applied. 

 


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