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Personal Loan

एमबीजीबी व्यक्तिगत ऋण योजना

Personal Loan Scheme

1 Purpose:

Ø For all type of personal use except for speculative purpose.

Eligiblity:

Ø Confirmed/Permanent Defense personnel/PSUs/Sate and Central Govt./Statutory Organization/Hospitals/University/   Colleges   whose   salary  is  being  through   our branch.

Ø Under Check off facility for those whose salary is not paid through our branch.

Ø MBBS/BDS having total income more than Rs.4.00 Lac

Ø Staff members of bank are also covered under the scheme.

Ø Contract teacher having qualified the eligibility test and having a completed service period of 2 years.

Ø Suspended employee not to be covered

3 Minimum Income and Extent of Loan and Margin:

Ø Minimum  monthly income  of Rs.12500/-  for urban areas and Rs.10000/-  for rural areas.

Ø Extent of Loan

o Minimum-  Rs.10000/-

o Maximum- Rs. 500000/-

Ø Margin- NIL

4 Repayment:

Ø Maximum for 60 months commencing from next month of disbursement.

5 Security:

Ø Up to Rs.25000/-  NIL

Ø Above Rs. 25000/- suitable third party guarantee acceptable to bank.

Other Important Issues:

Ø Maxm deduction 50 percent of net salary.

Ø Genuiness of Form 16 and salary slip to be ensured.

Ø Affidavit for non availment of loan from any other till closure to be obtained and also salary to be credited till closure of loan.

Ø CIBIL report to be checked for any adverse condition.

Ø Employer to be informed through registered post informing details of loan raised by the employee from the bank.