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Benefits

Objective

To make available Financial Assistance to the salaried for their personal needs.

Eligibility

Drawing salary from our Bank:

All Confirmed/ permanent employees of Central/ State Govt./ PSUs minimum 2 years of service, including service with the previous employer(s), if any, all reputed* companies/Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals,/Nursing Homes who are drawing their salary through accounts maintained with our branches.

Check-off facility:

Others minimum 3 years of service, including service with the previous employer(s), if any.

Purpose

To meet all types of personal needs (e.g., for medical treatment of self or a family member, marriage of self, son/daughter, defraying expenses on education of wards, expenses for domestic or foreign travel etc.)

Quantum Of Finance

Up to 24 times of Gross Monthly Salary with a maximum of Rs.20.00 Lakh depending upon the repaying capacity.*

Margin

NIL

Security

Suitable third party guarantee acceptable to the Bank

Repayment (Maximum)

Term Loan:

The entire loan (principal & interest) shall be repaid within remaining period of service or in maximum 72 (Seventy-Two) equated monthly installments (EMIs) whichever is earlier. Repayment to start one month after disbursement of the loan.

Overdraft

The Overdraft Limit shall be adjusted within remaining period of service or in maximum period of 72 months by reducing Drawing Power (DP) equivalent to EMI amount at the beginning of every month.

Personal loans allowed to Defence Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibet Border Police etc. shall be Repayable in maximum 60 equated monthly installments.

Prepayment Charges

NIL

Rate Of Interest

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Processing Charges/ Upfront Fee

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Documentation Charges

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PERSONAL LOAN SCHEME FOR SELF-EMPLOYED

Objective

To make available Financial Assistance to self-employed for their personal needs.

Purpose

For personal use.

The scheme is applicable to professional and initially scheme shall be applicable to CA/CS, Data Analysts, Architect/ Valuers, LIC Agents, Engineers, Software Developers and Financial Consultants only

Eligibility

Individual only – Professionals having minimum gross annual income (GAI) of Rs. 6.00 lakh for the last two years and also having minimum CIC score of 750 and above.

Maintaining his/her Saving Fund/ Current Account satisfactorily with us for the last 2 years with minimum annual credit transactions in all saving/ current accounts of the customer in our bank/ other banks, in similar capacity, amounting to Rs5.00 lac in the previous financial year

Quantum Of Finance

10 times of average Gross monthly income of last two years with a maximum of Rs.5.00 Lakh*

Margin

Nil

Security

Suitable third party guarantee, other than close relative, acceptable to the Bank, having minimum gross annual income (GAI) of Rs. 6.00 lakh for the last two years. CIC score of guarantor will be minimum 650

Repayment (Maximum)

Maximum 60 EMIs or up to 65 years of age whichever is earlier

Prepayment Charges

Nil

Rate Of Interest

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Processing Charges/ Upfront Fee

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Documentation Charges

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Above are only salient features of the scheme. For details please contact nearest branch

*Loan amount will also depend on maximum permissible deduction permitted under the scheme.

*The scheme is applicable in Metro and Urban branches (initially in metro Branches only) only.

Above are only salient features of the scheme. For details please contact nearest branch

*Loan amount will also depend on maximum permissible deduction permitted under the scheme

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