Eligibility
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Individuals ( Salaried ) / Proprietor of Proprietorship firms/ partners of Registered Partnership firms, Directors of Pvt. Ltd. Cos etc.
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Purpose
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Personal genuine financial requirements,
(Purpose should be specified in the Loan application)
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Amount
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Max. Loan upto Rs.5 lac
OR upto 75% of the estimated exp.
OR upto 60% of repayment capacity
OR value of security available
Whichever is less
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Margin
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Minimum 25% in Bank's favor
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Rate of Interest
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@ 14% p.a. (with monthly rests) subject to changes as per RBI guidelines our Bank's Policy.
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Repayment
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Within 60 month's by EMI
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Security
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Personal security –
Salaried borrowers Monthly deduction from Salary
Businessmen/Professionals – Monthly standing
Instruction to their bank account, where their
Normal business transactions are conducted
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Guarantors
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2 guarantors acceptable to the Bank
In case of existing loans preferably same guarantors be proposed.
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Other Conditions
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1. Loan to be considered based on acceptable rest
2. Loan to be disbursed in stages as per requirement.
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