|Purpose||Personal consumption as well as Business needs.|
|Eligibility||Individual, Firm (Proprietary / Partnership), (Pvt. / Public Ltd. Company).|
|Maximum Loan Amount||Minimum: ₹ 25,000/-
Maximum: Up to Bank’s exposure limit & MARGIN
|Margin||For Paper Securities :
@10% margin on face value of NSCs/KVPs if above 3 years and @20% for Other, & for Surrender value of Life Insurance Policy @10%.
[Monthly Interest servicing is a must to maintain the margin.]
|Repayment Period||1] Term Loan:
Maximum 60 months or residual period of maturity whichever is shorter.
2] Overdraft- 12 months, subject to Annual review. (subject to maturity date of securities)
|Rate of Interest||Upto ₹ 5 lacs : 12.50% Above ₹ 5 lacs :11.90%|
|Security||i) Pledge of NSCs / KVPs duly discharged.
ii) Assignment of Life Insurance Policies
iii) Letter of Appropriation.
Letter of Appropriation-duly stamped*- if Security is of Third party, *[as per prevailing stamp duty act, subject to change as per Govt. Notification]
|Processing Charge||Upto ₹ 5 lacs : 0.75% Above ₹ 5 lacs :0.40%|
|Subscription of Bank's Share||₹ 1000/-|
|Pre-payment Charges||NO PREPAYMENT CHARGES|
Terms & Conditions Apply.
Visit nearest branch for more details.
Contact Us : Head Office 0251-2316641, 0251-2315995 0251-2221300 | ATM Helpdesk 0251-2219008 | Toll free 18002331919 (9am to 6pm on weekdays) | firstname.lastname@example.org