Purpose – Financial assistance to salaried individuals and pensioners for the fulfilment of personal needs.
Eligibility – Salaried employees and Pensioners maintaining their account with us and having net monthly income exceeding Rs.5,000/ and Rs. 2,500/- respectively.
Quantum of loan -15 times of the net monthly salary / income subject to minimum of Rs.10,000/- and Maximum Rs.2,00,000.
Interest rate - With check off facility/Corporate guarantee/ Equitable mortgage
Paperwork – Application form (in duplicate) and two passport size photographs, Proof of income. In the case of salaried persons Salary Certificate showing deductions, Authorisation to deduct monthly installments from the salary of the employee for credit of the loan account where check-off facility is available, Standing instruction to transfer monthly instalments from the salary account.
Pensioners - Authorisation to deduct the monthly installments from the Pension account, Proof for the other income, For mortgage of property - Original and prior title deeds, Latest tax receipts , Possession Certificate, Encumbrance certificate for the last 15 years from the Sub-Registrar.
Repayment – 6 to 60 months in EMI.