Purpose

To meet all types of personal needs (e.g., for medical treatment of self or a family member, marriage of self, son/daughter, defraying expenses on education of wards, expenses for domestic or foreign travel etc.)

All permanent Defence Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibetan Boarder Police, etc. However, loan request of Defence Personnel, who are due for retirement within next 24 months, may not be entertained.

Eligibility

• Confirmed/permanent employees of Central/State Govt./PSUs and all reputed companies/Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals/Nursing Homes, who are either drawing their salary through accounts maintained with our branches or these employers agree for check off facility.
• Professionally qualified practicing Doctors viz., MBBS, BDS & above having annual income of Rs.5.00 Lakh and above. Doctors should be taxpayers for the last three years.
• Rs. 10,00,000 or 15 times monthly net salary whichever is lower subject to minimum Net monthly salary as under:

Quantum Of Finance

Up to 15 times of Gross Monthly Salary with a maximum of Rs.10.00 Lakh.

For Doctors - Minimum amount of loan will be Rs. 2,00,000/- and maximum amount of loan Rs. 15,00,000 or 20 times monthly gross salary/income whichever is lower depending upon the repaying capacity subject to having Net Annual Income/Salary of Rs.5.00 lakh and above.

Margin

NIL

Security

Suitable third party guarantee acceptable to the Bank

Repayment (Maximum)

Term Loan:

Within remaining period of service or in maximum 60 EMIs whichever earlier

Overdraft:

Repayment (Maximum)

60 months by reducing Drawing Power (DP) equivalent to EMI.

The income of spouse be included while ascertaining the repaying capacity where the spouse is confirmed/ permanent employee of Central. State Govt.,/ PSUs and reputed companies/ Institutions including Schools, Colleges, Universities, Autonomous bodies, Hospitals, Nursing Homes. In such cases, the spouse is to be made as co-borrower.

Prepayment Charges

NIL

Rate Of Interest

Processing Charges/ Upfront Fee

Presently : As per RBI/Bank’s guidelines time to time.

Documentation Charges

Presently : As per RBI/Bank’s guidelines time to time.