Loan

Personal Loan / Unsecure Loan
SrNo Item Particulars Explanation
1 Applicant Borrower 1) Professional, Salaried, Artisan, Businessman
2) Monthly Income Rs. 10,000 or more
3) Having Saving Current Account with bank
4) Who have house on his her own title.
2 Purpose 1) Development of business
2) Social or regional expenses
3) Medical treatment
4) Small repairing work
5) Purchase of Household appliances
3 Maximum Finance Up to Rs. 1,00,000
4 Rate Of Interest 16.50 % ( Reviewable time to time )
5 Guarantors Two Guarantors who must be owner of a housing property with Financially sound status.
6 Repayment Schedule / Tenure 36 EMI ( Equal Monthly Installments)
7 Terms & Conditions 1)5 PDC out of 36 need to be submit to bank on approval of loan
Or
2) authority to recover EMI from bank account he/she has with the bank.
8 Share Linking Shares 5 % of sanctioned limit or Rs. 5,000 deposit need to be taken.
9 Process Charge 0.50 % of sanctioned limit
Education Loan
SrNo Item Particulars Explanation
1 Applicant Borrower Students having 60 percentage and above in their academics at school level and wants to proceed for higher education in the form of graduation or post graduation.
2 Purpose Finance assistance as education loan for higher education after 12th Std.
3 Maximum Finance
  • UptoRs. 10 Lakh for higher education in India.
  • UptoRs. 20 Lakh for higher education outside India.
4 Rate Of Interest 10.50 % ( ROI reviewable time to time )
5 Margin 25.00% incl. Tution fees, Hostel fees & total package
6 Guarantors Two Guarantors who must be owner of a housing property with Financially sound status.
7 Security Compatible registered mortgage of student's parent(s) own titled house, office premise, shop. Fixed Deposits of bank also acceptable for security executing lien.
8 Repayment Schedule / Tenure
  • Repayment will be start once the targeted course / graduation / post graduation over. In case of considering offline / job search period, it shall not been more then six months allowed & installments capitalization starts by bank.
  • 60 EMI (Equal Monthly Installments)
9 Terms & Conditions
  • Parent(s) of the applicant student will be treated as co-borrower(s) available for the housing asset to apply for loan.
  • Complete literature / brochure and other details of the type of course / graduation programme related to prospected university / institution shall be submitted to bank
  • progress report on every semester completion shall be submitted to bank
  • bank will directly pay the tuition / coaching fee semester wise to concerned university / institution or on submission of receipt of payment by student, bank will draw the payment instrument in favor of the student.
  • Admission letter issued by foreign university / institution shall be submitted.
  • Detailed information of expenses done abroad considering specified education shall be submitted time to time
  • Certified / true copy of passport & visa shall be submitted to bank
10 Share Linking Shares 2.5% of sanctioned limit.
11 Process Charge 0.50 % of sanctioned limit on loan

 

Vehicle Loan
SrNo Item Particulars Explanation
1 Applicant Borrower
  • Professional, Self Employed, Salaried,  Artisan or Businessman
  • Filing Income Tax Returns regularly can apply as individual / firm name 
2 Purpose For the purchase of new two wheeler, three wheeler, four wheeler and commercial vehicle.
3 Maximum Finance After margin of quotation amount or Rs. 12,00,000 which ever is less.
4 Rate Of Interest
  • 10.95 % for Two Wheeler
  • 9.95 % for Four Wheeler
  • 12.50 % for Commercial Vehicle
  • (All ROI reviewable time to time)
5 Guarantors Two Guarantors who must be owner of a housing property with Financially sound status.
6 Margin 20% of the Basic Price
25% of the total cost whichever is higher
7 Security
  • Bank's HP in RTO Book of the vehicle financed
  • Full Insurance need to be taken by the borrower with bank HP in Insurance policy
8 Repayment Schedule / Tenure
  • 36 EMI for two & three wheeler loan
  • 60 EMI for four wheeler loan
9 Terms & Conditions
  • Quotation for new vehicle purchase
  • Margin shall be deposited in advance
  • Payment instrument will be issued on the name of Dealer.
  • Invoice & Stamped receipt need to be submitted to bank in original
  • Insurance of the vehicle shall be taken in the name / favor of the bank
  • Five PDC of EMI repayment need to be submitted with bank. Bank may ask for further PDC if required.
  • Copy of RC book having bank HP mentioned need to be submitted to bank
10 Share Linking Shares 2.5 % of sanctioned limit.
11 Process Charge 0.50 % of sanctioned limit on loan

 

Housing Loan
SrNo Item Particulars Explanation
1 Applicant Borrower
  • Professional, Self Employed, Salaried,  Artisan or Businessman
  • Filing Income Tax Returns regularly will apply as individual / firm name 
2 Purpose For the purchase of new / old House / Flat / Bungalow, for house construction or renovation of existing house.
3 Maximum Finance
  • Upto Rs. 35 Lakh for new purchase ( upto Rs. 28 Lakh under priority sector)
  • Upto Rs. 5 Lakh for renovation purpose ( urban & metropolitan areas)
  • Upto Rs. 2 Lakh for renovation (other areas)
Rate Of Interest
  • 9.50 % ROI ( All ROI reviewable time to time )
5 Guarantors Two Guarantors who must be owner of a housing property with Financially sound status.
6 Security Registered Mortgage on financed property.
7 Margin 20-30 % or as per bank discretion.
7 Repayment Schedule / Tenure Upto 240 EMI  or as per bank's desecration.
8 Terms & Conditions
  • NA / NOC / B.U. permission must be available for the housing asset to apply for loan.
  • Duly approved plan need to be submitted
  • Insurance in favor of bank has to be taken of.
  • Appropriate pledge shall be noted / ratified in housing society.
  • Allotment Letter, Sale Deed, Share Certificates must be submitted in originals.
  • Advance PDC towards repayment must be issued in favor of the bank
  • Title Clearance Certificate of the property need to be procured from bank's nominated advocate
  • Property valuation must be procured from bank's approved property valuer.
9 Share Linking Shares 2.5 % of sanctioned limit.
10 Process Charge 0.50 % of sanctioned limit
Machinery Term Loan
SrNo Item Particulars Explanation
1 Applicant Borrower Manufacturers, Service Contractors or Self employed etc... who are regular income tax accesses.
2 Purpose For updgradation / development of business by purchasing machinery or area / plant expansion
3 Maximum Finance After margin of quotation amount or according to maximum cap as per bank policy
4 Rate Of Interest 11.50 % ROI (reviewable time to time )
5 Margin 20 % to 30 % of the Machinery / Shed Value
6 Guarantors Two Guarantors who must be owner of a housing property with Financially sound status.
7 Security
  1. Hypothication of new equipments & machinery is mandatory along with required collateral in the form of asset mortgage.
  2. Original Invoices and receipts of machinery need to submitted.
8 Repayment Schedule / Tenure Maximum of 120 EMI for Surgical Equipments or as per BOD discretion.
9 Terms & Conditions
  • Appropriate quotation shall be submitted to bank for new machinery purchase
  • Insurance in favor of bank has to be taken of.
  • Amount of margin shall be credited to bank in advance.
  • 5 cheques as Advance PDC towards repayment must be issued in favor of the bank
  • Bank will issue payment instrument in favor of the concerned dealer only.
  • Borrower shall submit Original of Invoice and payment receipt to the bank
  • Project report need to be submitted if the it a fresh new start up
  • If it's a ongoing project then borrower need to submit last three year balance sheets along with the Project Expansion Report.
10 Share Linking Shares 2.5 % of sanctioned limit.
11 Process Charge 0.50 % of sanctioned limit on loan
Hypothecation of stock / Book Debts
SrNo Item Particulars Explanation
1 Applicant Borrower Retail / whole sale Traders, Manufacturers who required working capital advance &  who are bank's low risk current account holders.
2 Purpose For up-gradation / development / working capital advance for new business or running business  
3 Maximum Finance As per bank policy
4 Rate Of Interest
  • 11.50 % ROI (Upto Rs. 50 Lakh )
  • 11.00 % ROI (from Rs. 50 Lakh to Rs. 75 Lakh)
  • Rate Of Interest (ROI) subject to change time to time.
5 Margin
  • 30 % of Stock Value
  • 50 % of Bookdebts
6 Guarantors Two Guarantors who must be owner of a housing property with Financially sound status.
7 Security
  • Charge will be on Stock & Book-debts will be hypothicated as primary security
  • Residential house, office shop, godown or registered mortgage of shed will be taken as collateral security in favor of the bank
8 Renewal Of Limit Annual renewal of limit must be required to complied by the borrower.
9 Terms & Conditions
  • Authenticated copies of last 3 years balance sheets and income tax returns
  • 20% of the Details / ledgers of Annual sales & projected sales turnover will be taken into calculation for sanction limit. 
  • Applicant borrower and guarantors thereof need to submit all required proofs of business & income sources as per bank's requirement while applying for new limit or on annual renewal.
  • Insurance in favor of bank required for registered mortgage property / stock by the applicant borrower.
  • Monthly statement of stock / book-debts need to be submitted invariably by borrower considering 10 days grace thereof.
  • CA Certificate of book-debts required monthly if the limit is sanctioned more than Rs. 50 Lakh.
  • Balance sheet duly audited by C.A. required to submit in case of excess utilization/ turnover against sanctioned limit
10 Share Linking Shares 2.5 % of sanctioned limit.
11 Process Charge 0.50 % of sanctioned limit first time & 0.25 % on annual renewal of limit henceforth.
Gold Loan
SrNo Item Particulars Explanation
1 Applicant Borrower Account holder of the bank & local resident
2 Purpose For personal / business or social purpose
3 Limit
  • Rs. 25,000 upto Rs. 2,00,000 for 12 months as per bullet finance method (monthly interest capitalization)
  • Rs. 2,00,000 upto Rs. 5,00,000 for 24 Monthly EMI based.
4 Rate Of Interest 12.00 % ROI (reviewable time to time )
5 Margin 40 % of the ornament valuation
6 Nomination Nomination Declaration is mandatory
7 Age Criteria 18 years to 65 years
8 Valuation of Ornaments Valuation of the gold ornaments will be done by bank's approved valuer. Valuation only includes the gold part of the ornament. Gold ornaments must mitigate 22 karat or above.
9 Documents
  • DP Note
  • Letter of Pledge
  • Last three years Income Tax Returns if applying for Rs. 1 Lakh and above.
10 Share Linking Nominal membership upto sanction of Rs. 50,000 and above Rs. 50,000, regular share membership with 2.5 % share purchase by borrower
11 Process Charge Not applicable but valuation charge need to be bared by borrower
12 Storage Ornaments will be remain in joint custody of the borrower & bank's nominated officer in banks locker facility. Packing & sealing precautions as per gold loan process to be ensured.
13 Insurance Insurance cover shall include all type of risks
14 Returning of Ornaments Borrower himself with the original receipt of ornaments will be honored the ornaments return on completion of the loan. In case of death claim by nominee thereof, proper legal process need to be followed before hand-holding the ornaments to nominees.
Loan Against FD
SrNo Item Particulars Explanation
SrNo Item Particulars Explanation
1 Applicant Borrower Fixed Deposit holder of the bank
2 Purpose Personal / Consumer or business
3 Maximum Finance As per bank's policy & according to RBI guidelines prevailing 
4 Rate Of Interest 1 % over & above ROI of subjected Fixed Deposit receipt to be lined (reviewable time to time )
5 Margin Minimum 10% margin required
6 Guarantors Not applicable
7 Security Lien on Fixed Deposit receipt(s).
8 Repayment Schedule / Tenure Upto maturity of lined fixed deposit ( renewable if lined deposit renewed after maturity)
9 Terms & Conditions ·         Original receipt of fixed deposit (duly discharged)  to be submitted to bank for lien purpose
·         Monthly debit interest capitalization for concerned overdraft account
·         Interest on periodical interest payment nature fixed deposits will be credited to concerned overdraft account
·         Failing of mitigating lined fixed deposit payment / renewal attract proceeding to recover the due balance of overdraft by crediting lined fixed deposit prorate basis and if it is less against due balance of the overdraft then surplus credit from the borrower will be demanded by the bank. 
10 Share Linking Applicant must be share holder in normal or nominal capacity.
11 Process Charge Not applicable
Business-Mortgage Overdraft / Loan
SrNo Item Particulars Explanation
1 Applicant Borrower Traders, Wholesalers, Artisans, Manufacturer or Self employed etc... who are regular income tax accesses.
2 Purpose For up-gradation / development / new business by purchasing new / old shop, office premise, godown or shed etc...  
3 Maximum Finance After margin of  mortgaged property or according to maximum cap as per bank policy
4 Rate Of Interest

12.50 % ROI (reviewable time to time )

5 Margin 20 % to 40 % of the property value
6 Guarantors Two Guarantors who must be owner of a housing property with Financially sound status.
7 Security Property mortgage in favor of the bank
8 Repayment Schedule / Tenure 120 EMI  (Equal Monthly Installments) or as bank's BOD decides.
9 Terms & Conditions
  • NA / B.U. permission must be available for the new premise asset to apply for loan.
  • Insurance in favor of bank has to be taken of.
  • Approved plan copy shall be submitted to bank
  • Allotment Letter, Sale Deed, Share Certificates must be submitted in originals.
  • 5 cheques as Advance PDC towards repayment must be issued in favor of the bank
  • Title Certificate of the mortgage property shall be submitted to the bank
  • Appropriate pledge shall be noted / ratified in housing society / association.
10 Share Linking Shares 2.5 % of sanctioned limit.
11 Process Charge 0.50 % of sanctioned limit on loan
Un-secured Cash Credit
SrNo Item Particulars Explanation
1 Applicant Borrower
  • Professional,  Manufacturer or Businessman
  • Owner of compatible assets
2 Purpose Working Capital Cash Credit for development of  business
3 Maximum Finance Up to Rs. 2,00,000
4 Rate Of Interest 16.50 % ( Reviewable time to time )
5 Guarantors Two Guarantors who must be owner of a housing property with Financially sound status.
6 Security Hypothication of Stock / bookdebt
7 Repayment Schedule / Tenure Annual Renewal & paper submission
8 Terms & Conditions
  • Balance Sheet & Profit-Loss Accounts of last 2 years
  • Copy of Trading Account / Register of last 2 years
  • Projected Turnover & Profit-Loss account figures if new start-up of business.
  • All the proof of business / establishment
  • Location details of business.
  • Submission of Original Documents of property(es) if approved limit is greater than Rs. 2,00,000
9 Share Linking Shares 5 % of sanctioned limit.
10 Process Charge 0.50 % of sanctioned limit on loan approval & 0.25 % on renewal of limit annually if not renewed before the last date of renewal.