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Personal Loan to Salary Earners :
- Loan Limit : Maximum Upto Rs.5.00 Lacs. (Subject to Net salary in Hand for last 3 months)
- Repayment : Repayment period will be maximum 5 Years
- Rate of Interest : Attractive rate of Interest.
- Interest Calculation : Interest calculation on daily reducing balance.
- Purpose : To meet Educational, Medical or any other personal requirement.
- Security : Hamipatra from Authorized person for monthly deduction of EMI from Salary.
- Guarantors : Min Two Guarantors acceptable to bank from same Institution.
- Shares Contribution : Main Share of Rs.1000/- + Additional shares of 2.5% of loan amount.
- Charges :
- Processing Fess : 1% of loan amount + applicable S.T.
- Stationery Charges : Upto 1 Lakh Rs. 100 + applicable S.T.
More than 1 Lakh Rs. 200 + applicable S.T.
- Franking Charges
- Condition : Minimum 1 year confirmed service is done.
Documents Required :
- Loan application
- PAN Card, Address Proof, latest Photograph, of the Applicant and Guarantors.
- Applicant & Gaurantor:
- Salary slip of last 3 months
- Bank a/c statement for last 6 months where salary is credited.
- Form No 16 / ITR for last 3 finicial year.
- Confirmation Order
- Insurance : Accidental Insurance Cover of Borrower as per bank’s policy.
- Any other documents as required by the bank at later stage.