| 1.Eligibility |
Employees of Central / State Govt., PSUs ,Local Registered Bodies, universities recognized by U.G.C. ,Schools/ colleges run by Govt. or local bodies with confirmed service of 3 years . Professionals /Self Employed , Employees of Bank's corporate clients and General public. |
| 2.Age limit |
21 to 65 years |
| 3. Quantum of loan |
| Category
(i)Employees of Central/ State Govt. PSUs , organisations , employees of established & recognized schools/ colleges / local registered bodies and corporate clients of Bank where loan instalment is paid by salary deduction or undertaking from employer for remitting the terminal benefits is
available |
Quantum of Loan
Upto the gross annual income . Maxm Rs.5.0 lac( Income of spouse can be clubbed
) |
| (ii) Professionals/ Self employed, CAs , doctors, Architects & General Public |
Twice the average of annual income of past three years as per return filed or Rs.6.0 lac whichever is less. ( (Income of spouse can be clubbed ) |
|
| 4.Margins |
10 %
|
| 5.Rate of interest |
BPLR + 0.5%
|
| 6.Processing fee |
Rs.100/- |
| 7.Security |
No collaterals , only hypothecation of assets created .
|
8.Guarantee |
Third party / mutual guarantee / guarantee of spouse except in salaried class cases where instalment is paid by salary deduction or undertaking from employer for remitting the terminal benefits is available . |
| 9.Repayment |
12 to 60 Months
|
| 10.Prepayment Charges |
1% of the outstanding balance.
|
