Purpose: This loan is for financing personal needs. (e.g. family holiday tour, medical treatment, education expenses, marriage etc.) or business needs. Eligibility: The applicant of personal loan has to be a minimum of 21 years of age. Repayment: Repayment tenures are up to 60 months. One may prepay the loan with no penalty, or pay… Read More »
Purpose: This loan can be taken for any purpose. Eligibility: Any salaried individual, professional or self employed individual can avail this loan. Quantum of loan: Maximum amount of this personal loan that could be attained is Rs. 10 lakhs. Margin: There is a margin of 35%. Rate of Interest: The rate of interest is 10%… Read More »
Purpose: This loan can be taken for personal purpose. Eligibility: Any salaried individual can take this loan (businessman, employed, self employed or professional) on mortgage of property. Margin: There is a margin of 20%. Rate of Interest: The rate of interest is 10.5% per annum. Repayment: Period of loan could be up to 5 years.… Read More »
Purpose: This loan is for those who are self employed and professionals like Doctors, Lawyers, Teachers, Chartered Accountants, etc. Eligibility: Any professional or self-employed person can avail this loan. Margin: There is a margin of 20%. Rate of Interest: The rate of interest of this personal loan is 10.5% per annum. Repayment: The repayment period… Read More »
Purpose: This loan finances businessmen and industrialists for plant machinery, fixed assets, cash credit, overdraft, working capital term loan, cash purchase cum credit sales, etc. Quantum of loan: The quantum of loan varies with the category to which the loan belongs. Margin: There is a margin of 20% in the amount of personal loan granted.… Read More »
Purpose: This loan finances purchase of consumer items like TV, Washing Machine, Refrigerator, AC, etc. Eligibility: Any salaried individual, professional, businessman or self-employed individual can avail this loan. Margin: Up to a maximum of 70% of the total expenses will be granted as loan. Rate of Interest: The rate of interest is 14% per annum.… Read More »
Purpose: This loan can be use for any purpose (like medical treatment, Instant marriage, any instant incident). Eligibility: Any salaried individual, professional or self -employed individual can avail this personal loan. Quantum of loan: Up to a maximum of 90% of the proposed expenses will be granted as loan. Rate of Interest: Repayment: The term… Read More »
Purpose: This loan finances both personal (two-wheeler/ four-wheeler) and commercial vehicles. Eligibility: Salaried Individuals, Professionals, Self Employed Individuals, Businessman are eligible for this car loan. Quantum of loan: Up to a maximum of Rs. 15 lakh is granted as loan. Margin: Only 80% of the total cost is granted as loan. Rate of Interest: The… Read More »
If you opt for a loan, which has a floating interest rate charge on it then, with the rise in the market rate, the floating rate is bound to rise. Banks are affected by market rates because, higher the market rate, higher will be the cost at which banks acquire funds. But if the interest… Read More »
Purpose: To provide financial assistance for Graduate/Post Graduate professional course in private professional colleges and universities (medical, engineering, management, computer science etc.) Eligibility: Students having consistently good academic record, who have secured admission in College/University against merit or payment seat can avail this loan. The college and the course must be affiliated to the university… Read More »