Personal Loan

MBGB Personal Loan Scheme

Purpose:

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

Eligiblity

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

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

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

Staff members of bank are also covered under the scheme.

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

Suspended employee not to be covered

Minimum Income and Extent of Loan and Margin:

  • Extent of Loan
  • Minimum- Rs.10000/-
  • Maximum- Rs. 500000/-
  • Margin- NIL

Repayment:

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

Security:

  • Up to Rs.25000/- NIL
  • Above Rs. 25000/- suitable third party guarantee acceptable to bank.

Other Important Issues:

  • Maxm deduction 50 percent of net salary.
  • Genuiness of Form 16 and salary slip to be ensured.
  • Affidavit for non availment of loan from any other till closure to be obtained and also salary to be credited till closure of loan.
  • CIBIL report to be checked for any adverse condition.
  • Employer to be informed through registered post informing details of loan raised by the employee from the bank.
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