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Soneri Personal Finance

Purpose of Finance

  • To meet medical expenses for self or dependants of applicants
  • To meet educational expenses of applicant’s children.
  • To meet travel expenses for self and family members.
  • To meet renovation expenses of self owned residential property.
  • To meet advance rent payment for rented residential property occupied by the applicants.
  • To meet domestic needs.

Product Categories

Type Maximum Financing***
Clean Financing Upto Rs. 0.5 Million
Balance Transfer Facility (BTF) Upto Rs. 0.5 Million

Eligible Borrowers*

  • Salaried Persons
  • Self Employed Professionals
  • Business Persons

Tenure

  • Maximum repayment period of 5 years.

Mark-up Rate**

  • 1 Year KIBOR + 8% p.a., to be revised on each anniversary of finance.

Processing Fee

  • RS. 2,500/=

Service Length

  • Minimum 2 years of confirmed service with present employer in case of Salaried Person.
  • Minimum 1 year of practice by Self Employed Professionals.
  • Minimum 2 years of business association by Business Persons.

Age

At the time of maturity of the finance applicant’s age must not be more than;
  • 60 years in case of Salaried persons
  • 65 years in case of Self Employed / Business persons

Debt Burden

  • Monthly repayment installments not to exceed 40% of the net take home salary or 40% of declared monthly income (taking into account other financing facilities availed from other Banks/DFIs).

Pre-Payment Charges

  • 5% of the outstanding amount being prepaid.

Late Payment Charges

  • Rs. 500/- per installment per month.

Personal Loan Insurance

  • Amount of Finance insured against life of borrowers, free of cost.

Charges

  • Documentation Charges at actual.
  • Income Estimation Charges (if applicable).

*      Subject to fulfillment of our eligibility criteria.
**    Subject to change and revised rates to be communicated from time to time.
***  The total amount availed from other Banks / DFIs should not exceed the total clean finance exposure.

For further details please call:
Consumer Finance Division # 111-567-890 ext 2435.