|
|
Purpose |
To meet personal Expenses |
|
Eligibility |
Permanent salaried / Professionals (must be IT assesses) |
| Age |
21yrs – 60yrs at Loan Maturity |
| Minimum Employment |
For Service Persons Total – 5 Yrs
Current – 2 yrs
Professionals -3 years |
| Minimum Annual Income |
Salaried persons, permanent in service / professionals -minimum income Rs. 3.00 lakh p.a. (Teachers having salary a/c Rs.2.00 lac) |
| Maximum amount |
Rs.1.50 lac
Salaried - 6 times Gross Pay
Professionals - 50% of Gross Avg. Income of last 3 yrs IT return or last yrs inc. which ever is less |
|
Margin : |
Nil |
| Deduction Limit |
60% of Gross Pay |
|
Rate of Interest |
Click here to view the Interest Rate |
| Security |
CLEAN |
| Guarantor |
One Guarantor acceptable to Bank |
|
Repayment |
EMI – 36 mts (Max) or residual service whichever is less |
|
Processing fee |
1% of Loan Amt.
Min. Rs.500.00 |
| Insurance |
N.A. |
| Group Finance |
No Group Finance |
| Others |
N.A. |
