| Purpose |
These loans are granted to the salaried class people with monthly assured income. to meet any genuine personal/domestic needs and not for speculative purposes , offer a quick and easy solution to all your urgent financial needs. |
| Eligibility |
- Employees of Central / State Govt. / Autonomous Bodies/ Public / Joint Sector Undertakings, Public Limited Co. & Educational Institutions – with minimum continuous service for 1 year
- For Salaried Persons : Age of Borrower plus repayment period should not exceed retirement age or 60 years whichever is lower
- Net take home after meeting the proposed EMI should be minimum 30% of the gross salary Or Rs. 10,000/- whichever is higher
- Loanee’s must be the Associate Member of the Bank
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| Security |
Two Suitable co-obligants. |
| Quantum |
15 times of gross salary . |
| Period |
24 to 60 monthly Installments. |
| Interest Rate |
As fixed by Bank from time to time |
| Repayments |
- The entire loan is to be repaid within 24 months to 60 months from the date of sanction as repayment along with interest.
- Interest will be accrued to the account at monthly rests , will become due for payment along with principal at monthly rests.
|
| Documents Required |
- Completely filled loan application along with 3 passport size photographs of Loanee and Surities , along with Form No.135 giving details of Assets and Liabilities of the applicant.
- Bank statement for the last six months and updated passbook.
- Proof of residence of Loanee and Surities
- Proof of identity of Loanee and Surities
- Last 3 months’ salary slips of Loanee and Surities
- Form No.16 or Income Tax Returns
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| Other Conditions |
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