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% per annum.
Repayment: Period of loan could be up to 5 years. One may prepay the loan with no penalty, or pay more than your stipulated monthly installment at any time, depending upon availability of funds.
Security: One has to pledge N.S.C/K.V.P/Government Security or L.I.C policy as security.
Documents Required:
- Documents of N.S.C/K.V.P/Government Security or L.I.C policy.
- Latest 6 months Bank Statement of salary account
- Last 2 years ITR with computation of income / Certified Financials
- Proof of Turnover (Latest Sales / Service tax returns)
- Proof of Continuity current business or industries (IT Returns / Certificate of business continuity issued by the bank)
- Proof of Identity
- Proof of Residence
- Proof of Office
- Proof of Qualification Highest Degree
Other features: Nominal processing charges. No prepayment penalty for home loan. Takeover of loans is possible.