Personal loan

Who can apply

• Permanent Salaried Persons
• Professionals & Business Men

Purpose

• Educational
• Marriage
• Consumption Eg: Household, Computer etc.,
• House Repairs/Renovations
• Two wheeler purchase

Maximum Limit

• For Salaried persons and Professionals Rs. 1,00,000/- subject to the repaying capacity
• In case of computer purchase 90% of the Computer value subject to the repaying capacity
• For house repairs/renovations/extension Rs.75,000/- subject to the repaying capacity

Repayment

• 60 monthly instalments-reducing balance in case of salaried persons/Professionals
• 36 monthly instalments-reducing balance in case of computer purchase
• 40 monthly instalments-reducing balance for others.

Securities

• Minimum two Surities out of which one should be an income tax payer
• The Borrower and all the surities should be Regular/Nominal members of the Bank.
• For Professional, they must be an income tax payers.
• Colateral security if any.

Documents Required

• Loan application.
• Residential proof of Applicant and surieties.
• Income proof of Applicant and suriety.
• In case of consumption purpose then quotation is required.
• In case of house repairs/renovations estimatte of total expenditure is required.
• Undertaking from the employer to remit loan instalments/salary directly to the bank.
• Any other document required by bank.

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