Maha Bank Personal Loan scheme to Bharat Petroleum Corporation Private Limited (BPCL) Employees

Name of the scheme

Maha Bank Personal Loan scheme

Purpose of loan

To cater to the requirements of meeting personal expenses.

Eligibility

All confirmed employees of BPCL –public sector unit.

Min Annual Income

Minimum annual Income – 3.00 Lakhs.

Maximum Quantum of Finance

Maximum Rs 20.00 Lakhs.

Loan amount is 20 times of Gross Monthly Income or as per Maximum Quantum of Finance whichever is lower

Margin

Nil

Repayment Period

84 months

Rate of Interest

RLLR + 1.65 %

Deduction

Not to Exceed 60% of the Gross Income including Proposed EMI / Notional Interest.

(In case of existing Housing loan borrowers 65% of Gross income including proposed EMI)

Security

Nil (Clean Loan)

Guarantor

One Guarantor acceptable to the Bank

Processing Fee

Nil