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.)

Eligibility

• 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.
• 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.4.00 Lakh and above. Doctors should be taxpayers for the last three years.

Quantum Of Finance

• Minimum Rs.50000/-
• Maximum:For All borrowers:
• Rs. 4,00,000 or 20 times monthly net salary whichever is lower subject to minimum Net monthly salary as under:
• Metro Centres : Rs.15000/-
• Urban Centres : Rs.12500/-
• Semi- Urban/ Rural Centres : Rs.10000/-

And

• Rs. 5,00,000/- or 20 times monthly net salary whichever is lower for those Salaried persons having completed service of 3 years in the present organization & drawing net monthly salary of not less than Rs.30,000/- p.m.
• For employees drawing salary through our bank and completed 3 years of service in the present organization: Max. Rs.10 Lakh or 20 times of Net monthly salary for loan upto Rs.5 Lakh and 15 times of Net monthly salary for loan above Rs.5 Lakh and upto Rs.10 Lakh.
• Subject to Minimum Net monthly salary as under:
• Metro Centres : Rs.50000/-
• Urban Centres : Rs.40000/-
• Semi- Urban/ Rural Centres : Rs.30000/-
• For teachers and Defence personnel minimum Net Monthly Income shall be Rs.7500/- at all Centres.

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:

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 : NIL

Documentation Charges

Presently : NIL