Purpose – the purpose considered are, social cause / small repairs of property / Child education etc;
Eligibility – Any salaried persons / Professionals – Self Employed / Retailers
Quantum of Loan – loan granted up-to 5 times of the net monthly income of the applicant/s Or Rs.1 lakh whichever is less
Rate of Interest – The rate of interest for the personal loan is 14 %
Processing Charges – Nil
Pre-payment Charges – Nil
Share Money Contribution – 5 % of the Loan Sanctioned
Tenure For Repayment – Maximum up-to 40 months
Guarantee – Minimum two personal guarantees having income / asset expectable to the Bank
Documents –
For the Applicant/s
- Photo I.D.
- Income Proof.
- Residential Address Proof.
- Proof of Immovable Property if owned by the applicant.
- Bank A/c Statement for the last six months.
- Statement of A/c for Loan / Advance facility availed from other Bank / F.I.
- A letter of undertaking from the employer to deduct of EMI from salary in case of salaried person if agreed by their Employers.
For the Guarantors
- Photo I.D.
- Income Proof.
- Residential Address Proof.
- Proof of Immovable Property if owned in their name.