For Salaried employees, Businessman, Self Employed |
Type of loan |
Term loan |
Purpose |
For repair/renovation of residence
Purchase home appliances/electronic Goods/repayment of outside debts/ Medical expenses ,for Business man – business need
|
Repayment |
Standing instruction from our Bank Account,Debit ECS |
Mode of Repayment |
Standing instruction from our Bank Account,Debit ECS |
Margin |
No margin |
Rate of interest |
15 % p.a. (Subject to change as per Bank policy) |
Who can borrow |
Salaried employees, Businessman, Self Employed |
Loan amount |
Rs 0.50 to Rs 5.00 lakhs |
Security |
(Govt .Securities such as NSC/KVP ,LIC policy and Term deposit of our Bank as a collateral Security ) |
Collateral |
Not required |
Guarantors |
Two acceptable guarantors ( additional guarantor to be provided if required ) |
Subscription of bank's shares |
5% of the loan amount |
Processing charges |
0.50% of sanctioned loan amount |
Other charges |
As per Bank's policy |
Pre-payment charges |
No pre closure charges |