Personal Loan
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- Personal Loan
Eligibility
- All Individuals between age of 21 years to 58 Years having minimum gross annual income greater than or equal to Rs.240000/- for State Government ,Central Government, Profit Making PSU employee and pensioner (Central Govt and State Government), Govt. (Central & State) Aided/Semi-Govt. Schools and collages employee and pensioner.
Purpose
- Any personal purpose other than speculative/illegal purpose.
Quantum of finance
- Minimum: Rs. 1.00 Lakh & Maximum: Rs. 10.00 Lakh/-
- Income gap criteria
a. 24 times of GMI
b. Total deduction including instalment of this loan should not exceed 60% of NMI.
c. Loan Amount Applied.
d. Eligible Loan Amount: Lower of (a), (b) or (c)
Margin
Security
- 5 PDCs of Saving Account in which salary is crediting.
Repayment Period
- Minimum term 24 months
- Maximum term 60 months
- (Subject to maximum exit age of borrower is 60 years)
Moratorium
Rate of Interest:10% + Scoring model premium
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Disclaimer:"Kindly contact the nearest branch for more details".