- Salaried persons, Professionals, Self Employed and others who are gainfully employed for the last two years
- For all legitimate purposes except for speculation
Maximum – Rs 5.00 mn 36 time of Gross Monthly Income for Salaried and 3 times of Average Annual Income of Last Two years for businessman Loan shall be lower of the maximum ceiling and calculation based on income.
- 50% of value of the property offered as security. (Security should be 200% of the credit facility)
- In 120 monthly installments for Loan or EMIs And 10% annual reduction for OD facility
RATE OF INTEREST
- 2.00% over PLR
- 1st Rank fixed charge on Flat/House Purchase constructed out of Bank Finance
- 1% of Loan amount Minimum Rs.1,000/-Maximum – Rs. 25,000/-.
DOCUMENTS TO BE SUBMITTED ALONG WITH APPLICATION
- Copy of National ID Card
- Copy of Driving License for vehicle for which loan is applied.
- Salary Slips for last 3 months for salaried/ MRA return for businessman
Time Frame for taking credit decision / disposal of proposal from the date of submission of data / information is within 10 working days for all credit facilities upto Rs. 300,000.00.