Top-up loan to cover all your extra expenses. From Business Expansion / House Expenses / Personal Expenses to self-declared expenses.
Features
Rates & Charges
Repayment
Eligibility Criteria
Documents Required
Features
- Get up to a maximum of 5.00 Lacs
Rates & Charges
Margin: 25%
Interest Rate: 12.50%.
Term Loan with a maximum of 84 months to repay by EMIs
Penal interest: 2% to be charged for the period of default in repayment.
Upfront Processing fee: @ 0.50%+GST on one time basis, on total sanctioned
amount.
Repayment
- For borrower\s, the mode of repayment will be through EMI.
- The repayment period will be a maximum of 84 months.
Eligibility Criteria
- A borrower should have a relationship with our bank with a minimum last 3 years satisfactory loan account repayment history.
- The composite income of spouse can be taken into account.
- The proportionate amount so as to monthly net income (NP + Depreciation + TL Int.) of last year, including proposed loan EMI should not be less than 1/3rd, as per income tax returns.
- Undertaking/MOU of mortgagor/borrower with guarantors consent for the continuation of Existing Registered / Equitable Mortgage of Land & Building till the closure of subject Personal Loan. There should be a margin equal to or more than 1.25 times of business loan to the amount sanctioned.
- Precaution to be observed Unsecured Loan Limit per borrower sanction amount should not exceed Rs. 5 Lac at any point in time. Confirm that Existing Loans are Regular from the disbursement date.
Documents Required
- Proof of identity
- Proof of address
- Proof of income (Of the last 3 years)
- 5 PDC’s & Standing instructions of Saving/ Current Accounts / Ecs.
- Search report of property having clear & marketable title.
- KYC of Applicant & Guarantor(s)
