|
  |
Mahabank Personal Loan Scheme
Purpose
To meet any personal expenses for purposes such as Medical Expenses, Expenses on Travel / Tour, Income Tax liability, etc.
Eligibility
- Salaried persons, permanent in service / professionals / businessmen having minimum income of Rs.1.00 lakh p.a.
- Age of Applicant: Minimum: 21 years and Maximum 60 years at loan maturity.
- Minimum employment: For Service Persons: Minimum 3 years in employment and minimum 2 years in the current organization.
- For Others: He/She must be in the business/profession for at least 3 years.
- Individuals should be Income Tax assessee(s).
Amount
Minimum Rs. 5,000/- & Maximum Rs. 1,00,000/-
Earning Criteria For Salaried Person For businessman/ professional
10 times net monthly salary
50% of average annual income based on the I.T. Returned for the past three years
Margin
Nil
Rate of interest
Click here to view the Interest Rate
Security
CLEAN Loan is to be guaranteed by one acceptable guarantor.
Repayment
Maximum upto 3 years by monthly-equated instalments.
Total deductions including proposed loan instalment should not exceed 60% of Gross Income.
Processing fee
Processing charges shall be 1% subject to the minimum Rs.500/-.
|
| |
|
|
