|Purpose||Repair / Renovation of residence,
Purchasing Home Appliances,
Purchasing Electronics Goods,
Repayment of Old Debts,
To meet expenses of Religious Ceremonies,
To meet Medical expenses,
Any legitimate purpose acceptable to the Bank.
|Eligibility||Individual/s, Salaried Employees,
Professionals having regular source of income or Business entities.
|Maximum Loan Amount||Max. ₹ 5.00 lakhs
Max. ₹ 1.00 lakh to Nominal Members for purchase of Consumer durables only.
|Margin||10% (of proposed expenses)|
|Repayment Period||Up to ₹ 1.00 lakh: Maximum repayment 36 months
Above ₹ 1.00 lakh: Maximum repayment 60 months.
|Rate of Interest||13.10% for Loans / 12.80% for OD for salary accounts . For others 13.5%|
|Guarantators||Two Guarantors with means & income acceptable to Bank|
|Collaterals||Assignment of Life Insurance policy depending upon case to case basis.|
|Processing Charge||@ .75% of limit sanctioned|
|Subscription of Bank's Share||@ 5% of limit sanctioned|
|Pre-payment Charges||NO PREPAYMENT CHARGES|
Terms & Conditions Apply.
Visit nearest branch for more details.
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