Other Loans & Advance
Trade Finance Scheme
Ø The objective is to target at retail/whole sale trading t meet the marketing capital need.
Ø Borrower should be in possession of related registration /license under the law.
Ø A minimum of Rs.2.00 lac can be sanctioned upto maximum of Rs.5.00 lakhs under the scheme.
Ø Repayment of loan will be fixed as per project requirement.
Ø It is a Term Loan/Cash Credit limit type of Advance.
Ø The Repayment period varies from 01 year to 05 years.
Ø The objective is to provide loan for the purchase of flat/construction of house to our customers.
Ø Under this scheme loan is also provided for extension/renovation of existing flat or house.
Ø Salaried / professionals / businessmen with income tax assessment of previous two years are eligible to apply under the scheme.
Ø It is required that applicant must have the land in his name on which house is proposed.
Ø Loan Amount : For Salaried persons it can be equal to Four times of annual gross salary or Five times of annual net salary. For professionals and businessmen the loan amount is based on Income-tax assessment of previous four years. A maximum of Rs.25 lakhs can be sanctioned ranging from a minimum of 2.00 lacs.
Ø It is a pure Term Loan and can be repaid in 05 to 10 years in monthly installments.
Loan against Equitable Mortgage
Ø The objective is to provide loan for the General purpose/commercial investment against equitable mortgage of land/building.
Ø Only salaried / professionals/businessmen with Income-Tax assessment are eligible under this scheme.
Ø Minimum Loan amount is Rs.1.00 lac.
· For salaried person the loan amount is equal to the 24 times of monthly gross salary up to 5.00 lacs only.
· For professionals and businessmen the loan amount is equal to two times of net annual income based on Income-Tax assessment upto 8.00 lacs. only.
Ø The objective is to provide loan to recognized medical practitioners for latest and modern medical equipments for nursing homes.
Ø Loan Amount can be 75% of Project Cost.
Ø It is a Term Loan.
Ø The period of repayment varies from 03 to 05 years.
Consumer Loan For Vehicles
Ø The objective is to provide loan to professional and individuals for vehicle for personal use.
Permanent employees of Central/State Government/Public Sector undertaking.
Income tax payee professionals and self employed.
Individuals engaged in agriculture/agriculture allied activities.
Salaried professionals/businessmen with I-Tax assessment
Ø Loan Amount: Loan amount can be 3 times of annual salary /Income or Rs.10 lakhs whichever is less.
Ø Repayment Mode: Repayment is to be done in monthly installment.
Ø Period of Loan: The Repayment period vary from 03 to 05 years.
Consumer Loan For Pensioners
Ø The objective is to provide loan for emergency medical expenditure and to meet daily needs of pensioners.
Pensioners whose pension account is in our bank.
Loan Amount: Loan amount can be 90% of monthly pension.
Type of Facility: It is a secured overdraft in nature.
Period of Loan: Can be repaid in 01 to 03 months in monthly installments.
Consumer Loan For Non-Salaried
Ø The objective is to provide loan for Non-Salaried customers such as professionals/businessmen.
Ø Loan Amount: Maximum upto Rs.2.00 lac.
Ø Repayment Mode: Monthly Installments.
Ø Type of Facility: Term Loan
Ø Period of Loan : Vary from 03 to 05 Years.
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