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| Purpose |
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Own To meet all types of personal needs.
| Eligibility |
|
|
i) All permanent Defence Personnel including officials of Military Station Headquarters, BSF, CRPF, CISF, ITBP
ii) Confirmed/ permanent employees of Central/ State Govt/ PSUs and all reputed companies/ Institutions, who are drawing their salary through accounts maintained with our branches.
Employees of above categories under ‘check-off facility’ OR having minimum annual income of Rs.3.00 lac.
iii) Professionally qualified Doctors viz. MBBS, BDS & above having annual income of Rs.3.00 lac & above.
Minimum Net Monthly Income
- Rs.8500 per month for eligible customers at Metro Centres;
- Rs.7000 per month for eligible customers at Urban Centres; and
- Rs.5000 per month for eligible customers at Semi-Urban and Rural Centres.
However, for Teachers, Army Jawans, other permanent employees of Military Station Headquarters and Para Military Personnel whose salary is being credited and disbursed through our branches the minimum Net Monthly Income criteria shall be Rs.5000/- at all Centres viz. Metro, Urban, Semi-Urban and Rural.
| Nature and Amount of Loan |
|
|
Term Loan/ Overdraft – Minimum amount of loan will be Rs.10,000/- and maximum amount of loan Rs.3,00,000/- or 30 times monthly net salary, whichever is lower, depending upon the repaying capacity.
| Margin |
|
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NIL
| Security |
|
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Suitable guarantee acceptable to the Bank.
| Rate of Interest |
|
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For employees whose salary is being
disbursed through our branches and employees under check-off facility : 12.50% p.a.
For others having annual income of
Minimum Rs.3.00 lac : 13.50% p.a.
| Repayment |
|
|
60 Equated Monthly Instalments (EMIs) OR remaining period of service, whichever is earlier. Instalment to commence one month after disbursement of loan.
However, loan allowed to Army Jawans, other permanent employees of Military Station Headquarters and Para Military Personnel shall be Repayable in maximum 36 Equated Monthly Instalments or remaining period of stay at the particular posting, whichever is lower.
| Upfront Fee |
|
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1.8% of the loan amount + Service Tax & Education Cess
| Documentation Charges |
|
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Rs.270/- upto Rs.2 Lac + Service Tax & Education Cess
Rs.450/- over Rs.2 Lac + Service Tax & Education Cess
|
