Financial assistance to Salaried class to meet educational expenses, marriage expenses for self and children/ dependents, to purchase consumer goods etc.
10 month’s Gross salary OR Rs.5.00 lakh whichever is less. However, employee’s net take home salary under any circumstances should not be less than 25% of gross salary after deducting proposed loan installment.
4 years in 48 EMI
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For purchase of equipment, machinery, repairing or renovating the existing equipment and / or acquiring and repairing business premises or for purchasing tools, vehicles, durable utility articles and / or working capital relating to profession / activity only.
The quantum of loan shall be in accordance with the requirement or as per eligibility norms whichever is less depending upon the merits of individual case.
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For purchase of four wheelers / Car / Jeep etc.
For new vehicles: = 85% of on road price or 24 times of monthly net take
home salary - Whichever is less
For used vehicle: = not older than 5 years = 50% of value of vehicle or 2
years net income - whichever is less
Within 60 months in EMI for non-agriculturists &12 Equated Half yearly installments for Agriculturists.
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In accordance with requirement or eligibility norms whichever is less.
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For salaried class :-
60 times of last drawn gross salary subject to ensuring net take home salary after deducting all existing loan & proposed loan should not be less than 25% of gross salary
For non-salaried class :-
4 years gross annual income subject to ensuring net profit afterdeducting all existing loan & proposed loan should not be less than 40% of gross profit
Entire loan with interest shall be repayable in EMI/EHI with maximum period of 30 years
Please visit your nearest branch.