There are different types of loansPersonal loan1)home loan

Eligibility

Individual(s) over 18 years of age with steady source of income, including persons engaged in agriculture & allied activities.

Amount of Finance

Maximum loan amount will be lowest of loan amount assessed on the basis of the under noted 3 options(a.b.c) below: a) Project cost which may include cost of land, house/ flat, cost of additional amenities related with said house/ flat, registration charges, stamp duty, property insurance, service tax and other statutory dues, if any, less applicable margin. b) Permissible EMI/ NMI ratio. c) Maximum Permissible Loan to Value(LTV) ratio.

Processing fee

Up to Rs. 25.00 lacs- 0.25% of loan amount subject to minimum of Rs.5,000/Above Rs. 25.00 lacs to Rs. 75.00 lacs- Rs.6,500/Above Rs. 75.00 lacs- Rs.10,000/-

Other Charges EMI/ NMI Ratio

Lawyers, Valuers fee etc to be borne by the borrower on the basis of actual cost

1. 2. 3. 4. 5. 6. 7.

Based on income-wise graded ratio as under: Up to `0.60 lacs: 20% Above `0.60 lakhs to `1.20 lakhs: 25% Above `1.20 lakhs to `2.00 lakhs: 30% Above `2.00 lakhs to `5.00 lakhs: 50% Above `5.00 lakhs to `10.00 lakhs: 55% Above `10.00 lakhs : 65%

Margin

Loan Amount Upto 20 Lakhs Above 20 Lakhs

For House/ Flats under construction

New House/ Flats for ready possession

Old House/ Flats for ready possession

15%

15%

15%

20%

20%

20%

2)Car loana)new car loan-

Purpose

Loans sanctioned for purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs

Loan Amount

1. 2.

Salaried Persons: 48 times the Net Monthly Income (NMI) Self Employed: 4 times the Net Annual Income (NAI)

Margin Repayment Interest

: : :

15% of the On Road price of the Vehicle Upto 7 years All loans should be given on a floating rate basis i.e.,the effective interest will increase or decrease in BASE RATE. collected upfront No Pre-payment penalty is there

Processing Fee Prepayment Penalty

: :

b)old car loan-

Purpose

Term Loans are sanctioned by the Bank for purchase of passenger cars, Multi Utility Vehicles (MUVs) and SUVs not more than five years old. However, financing of old vehicles on the basis of duplicate Registration Books will not be entertained.

Loan Amount

1. 2.

Salaried Persons: 48 times the Net Monthly Income (NMI) Self Employed: 4 times the Net Annual Income (NAI)

Margin Processing Fee Interest

: : :

15% of the cost of the vehicle nil Floating rate of interest liked to BASE RATE

2)educational loan-

Purpose

To extend financial assistance to all eligible/ deserving/ meritorious students for pursuing higher education in India & Abroad.

Amount of

For studies in India, maximum `10 lacs

Loan

Studies abroad, maximum `20 lacs

Margin

For loans up to `4 lacs: No Margin For loans above `4 lacs: I. II. Studies in India: 5% Studies Abroad: 15%

Security

: I. II. III. IV.

Amount: For loans upto `10 lacs for Studies in India and upto 20 lacs for studies abroad Upto `4 lacs: No Security Above `4 lacs to `7.50 lacs: Collateral security in the form of suitable third party guarantee. Above `7.50 lacs.: Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

3)gold loan-

Purpose

Demand Loan OR Overdraft by way of pledge of gold ornaments for genuine requirements of individuals

Eligibility

All individuals who are 21 years and above

Security

Pledge of Gold ornaments or Jewellery made of 22 carat or 18 carat & Gold coins issued by banks

Loan Amount

Minimum `6,000

Mortgage loan-

Mortgage Loan
Objective : To provide hassle free credit facilities both for working capital and capital expenditure to MSME borrowers who are willing to provide mortgage of property of adequate value.

FEATURES

Eligibility

MSME Enterprises

Quantum of Loan

65% realizable value of the Security subject to a maximum of `5.00 crores depending upon category of Enterprise

Repayment

Working capital loans [CC/OD] is valid for 12 months. However interest should be serviced with in 15 days after charging. Term Loan 60 Months including moratorium. Demand loan maximum 36 months

Margin Security

: :

35% Primary : Hypothecation of assets acquired by Bank Finance. Collateral : 153% of Loan amount in the form of equitable/ registered mortgage of land/building.