PERSONAL LOAN

 

 

Eligibility of borrower:

  • Having current/saving account holder of the Bank.
  • Borrower must be a member of the Bank.

Purpose of Loan:

  • Repairing/renovation of property
  • Purchase of Second hand Vehicle
  • Capital requirement in business
  • Any other purpose except Social purpose
  • Purchase of Consumer durables and furniture/ fixture/ computers
  • Repairs / renovation of flat / house
  • Marriage & other religious ceremonies
  • Domestic / Foreign tours & travels
  • Repayment of existing debt
  • Medical expenses for self / family members
  • For any purpose which is acceptable to bank


Quantum of Finance:

  • Maximum finance up to Rs. 5 Lacs subject to repaying capacity of borrower.


Features:

  • 20% of annual turnover/sales
    • Loan tenure up to 48 months Nominal Processing Charge No Pre-payment/fore-closure charges Easy Process Interest is to be charged on reducing balance method Two Guarantors, out of one must be a non-relative guarantor. (One guarantor should have a property & other one should have good income)


Security:

  • 20% of annual turnover/sales.
  • Up to 65% of the value of the stock.