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 + 6% p.a., to be revised on each anniversary of finance.
Processing Fee
No Processing Fee.
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 Penalty
No prepayment penalty
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 #(0213) 2434027, (0213) 2439562-67 ext - 325,
