Recent press reports said that Dr N. Kamakodi, who assumed office as Executive President of Kumbakonam-headquartered City Union Bank, four months ago, has been elevated as Managing Director and Chief Executive Officer of the bank. Reports said that Dr N. Kamakodi is expected to take charge from the 1st of May 2011. Dr N. Kamakodi… Read More »
According to a recent press report RBI has released a discussion Paper on ‘Deregulation of Savings Bank Deposit Interest Rate as indicated in the Second Quarter Review of Monetary Policy 2010-11 on November 2, 2010.. In the light of pros and cons of deregulation of savings deposit interest rate as set out in the Discussion… Read More »
Purpose: For purchase of Cars/Two Wheelers of any make, new as well as second-hand vehicles less than 3 years old. Eligibility: Any Individual, Proprietary/Partnership concerns as well as Limited Companies are eligible to avail finance under the vehicle loan scheme; provided they have adequate repayment capacity. Period of Repayment: The period of repayment for new… Read More »
Purpose: The scheme offer loans to people to avail loan for purchase of house or flat, besides repairs or extension of existing houses. Eligibility: Individuals and housing boards undertaking housing project or schemes are eligible to receive finance under the scheme. The borrower must have permanent source of income, repayment capacity and should be prepared… Read More »
The Scheme aims to provide loan assistance to meritorious students keeping in mind their financial circumstances for pursuit of higher studies in India or Abroad. The loan amount will cover admission fees, tuition fees, examination fees, and cost of books stationery, instruments and equipment, Boarding and mess expenses etc. Unlike other personal loan, students eligible… Read More »
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 »