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  Home   : :   Kalyan Gramin Suvidha Yojana

Kalyan Gramin Suvidha Yojana

As there are limited options available at rural / gramin area. Kalyan janata bank has introducing a gramin personal loan scheme that will solve the problems of people from these areas which can be used for plenty of purposes like marriage of your own or of the family member, for any kind of medical emergency in your family or to repair, refurnish & upgrade your home to a dream home.

Purpose :
  • Repairs / renovation / extension to residential property.
  • Repayment of existing loans / debts.
  • Expenses like Medical treatment, Marriage, purchase of consumer durables etc. Or any other Personal needs.
  • Any other purpose acceptable to Bank.
Eligibility :
  • Salaried employees
    (Maximum permissible age of the applicant should not be more than 50 years)
Source Of
Eligibility :
  • Confirmed employee of reputed company / Govt. / Semi Govt. only(No Proprietary/Partner-ship Firm)
  • Maximum / permissible aggregate deduction including instalment of proposed loan should not exceed 65% of the last three months average gross salary of the employee
  • CIR score of applicant & guarantors should be above 600
Quantum :
  • Maximum loan amount ₹ 10 lakhs
Tenure :
  • Maximum 10 Years or remaining period of service whichever is less subject to expiry date of loan should be at least one year before from the date of retirement.
  • If age of applicant is more than 50 years maximum repayment period of only 5 Years to be considered subject to expiry date of loan should be at least one year before from the date of retirement.
Basic Documents :
  • In case of new customer, applicant & guarantors need to open savings / current account
  • Duly filled & signed loan application form
  • Duly signed loan agreement
  • KYC documentation as per RBI guidelines, including proof of identity & address proof of applicant & guarantors with 3 passport sized photographs
  • Copy of updated passbook / bank statement for last one year
  • Details of existing on-going loan availed from banks / financial institution
  • Copy of Bank deposits / Life Insurance Policies / Other Investments (if any)
  • For Salaried individuals :
    • Last 3 months’ - salary slips
    • Form 16 or income tax returns
ROI :
  • Please click here to know about latest ROI & Service Charges.
Important terms :
  • Applicant has to be a regular shareholder of the bank. The guarantors have to be either a regular member (shareholder) or a nominal member of bank.
  • Standing Instruction (SI) Request / ECS or NACH instructions / Post Dated Cheques (PDC) to be submitted to the bank as per requirement.
  • Collateral securities, if stipulated, to be submitted before disbursement. In case of assignment of LIC policies, original policies to be deposited and assignment formalities to be completed before disbursement. Surrender value certificate to be obtained from insurance company.
  • Search report and title clearance report for the property to be obtained from bank’s panel advocate. Professional fees / charges for the same to be borne by the applicant, even if the loan proposal is not sanctioned by the bank.
  • All conditions stipulated in the advocate’s title clearance report are to be fulfilled by the applicant before consideration of the loan proposal.
  • Inspection of the property / site will be carried out by bank officials. Applicant has to make necessary arrangements for this
  • Formalities regarding recording bank’s charge on the property by the builder / co-operative housing society and transfer of share certificate in the name of the applicant / borrower by the co-operative housing society, are to be completed as early as possible. The applicant / borrower has to ensure and take active responsibilities for this.
  • Before disbursement, applicant has to provide margin money and necessary amount to meet all the expenses (as mentioned above & as per service charges). Adequate amount for the purpose is to be deposited in the bank account in advance.

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