i. |
Eligibility |
- |
Any individual member of the Bank. |
ii. |
Type of facility |
- |
Term Loans. |
iii. |
Limit |
- |
Upto maximum of Rs. 1.00 lac subject to repaying capacity of the Borrower and also subject to the condition that it does not exceed 12 times of the monthly salary or 10 times of monthly income from business or profession of the applicant. |
iv. |
Purpose |
- |
For any social or religious ceremonies , medical expenses, Education purposes, repair/construction/alteration/addition of existing dwelling unit etc. |
v. |
Rate of Interest |
- |
As per Bank’s rules from time to time. |
vi. |
Other Charges |
- |
As per Bank’s rules from time to time. |
vii. |
Repayment |
a)
b)
|
< 60 months for a loan upto
Rs. 50,000/-
> 84 months for a loan of more than
Rs. 50,000/- |
viii. |
Sureties |
a) |
Minimum 2 sureties for a loan upto Rs. 50000/- as per bank’s rules |
|
|
b) |
Minimum 3 sureties for a loan above Rs. 50,000/- as per bank’s rules. |
ix. |
Other Conditions |
- |
Borrower to submit the satisfactory proof of his/her income and that of all the sureties. |
