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Personal Loan Scheme For Public
Eligibility
- All permanent Defence Personnel including officials of Military Station Headquarters, BSF, CRPF, CISF, ITBP
- Confirmed/permanent employees of Central/State Govt/PSUs and all reputed companies/Institutions, who are drawing their salary through accounts maintained with our branches.
Employees of above categories under ‘check-off facility’ OR having minimum annual income of Rs.3.00 lac.
- Professionally qualified Doctors viz. MBBS, BDS & above having annual income of Rs.3.00 lac & above.
Purpose
To meet all types of personal needs.
Minimum Net Monthly Income
Rs.8500 per month for eligible customers at Metro Centres;
Rs.7000 per month for eligible customers at Urban Centres; and
Rs.5000 per month for eligible customers at Semi-Urban and Rural Centres.
However, for Teachers, Army Jawans, other permanent employees of Military Station Headquarters and Para Military Personnel whose salary is being credited and disbursed through our branches the minimum Net Monthly Income criteria shall be Rs.5000/- at all Centres viz. Metro, Urban, Semi-Urban and Rural.
Nature & Amount
Term Loan/ Overdraft – Minimum amount of loan will be Rs.10,000/- and maximum amount of loan Rs.3,00,000/- or 30 times monthly net salary, whichever is lower, depending upon the repaying capacity.
Margin
Nil
Repayment Period
60 Equated Monthly Instalments (EMIs) OR remaining period of service, whichever is earlier. Instalment to commence one month after disbursement of loan.
However, loan allowed to Army Jawans, other permanent employees of Military Station Headquarters and Para Military Personnel shall be Repayable in maximum 36 Equated Monthly Instalments or remaining period of stay at the particular posting, whichever is lower.
Rate of Interest
For employees whose salary is being disbursed through our branches and employees under check-off facility 13.25% p.a.
For others having annual income of Minimum Rs.3.00 lac 14.25% p.a.
Security
Suitable guarantee acceptable to the Bank.
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