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Personal Loan

The Personal Loan is just what you need to address your diverse financial needs – be it your child’s admission fee or upgrading your home appliances, you can now look forward to getting the financial support you need, without any hassles.

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Eligibility:

  Salried Self Employed
Age above 23 years above 23 years
Minimum Income Requirement Rs 35,000/- per month 1,80,000/- per annum
Profiles covered Salaried with a central or state government institution or a profit making company or a reputed organization as a permanent employee 1. Self Employed Professionals
2. Self Employed Non Professional with a profit making Proprietorship Business / Partnership firm/ Private limited company with a positive turnover
Total work experience 2 years and above 1. For Self Employed Professionals- 3 years & more
2. Self Employed Non Professional-Total 5 years of experience with 4 years in the current venture

Note : Eligibility criteria may change from case to case.

 


Benefits:

For Salaried
  • Loans are tenable in a wide range i.e. 1 lac to 15 lacs
  • Easy and simple documentation
  • Flexible repayment options which can stretch between 12 and 60 months
For Self Employed
  • Loans are tenable in a wide rage of 3 lacs to 15 lacs
  • Easy and simple documentation
  • Flexible repayment options which can stretch between 12 and 60 months

Fees & Charges:

  Salried Self Employed
Loan processing fees Upto 2.5% of the loan amount subject to a minimum of Rs .1250/- Up to 2.5% of the Loan amount subject to a minimum of Rs. 1250/-
Prepayment charges (before repayment of 12 EMIs) 2% + ST of the Principal Outstanding

2% + ST of the Principal Outstanding

Prepayment charges (after repayment of 12 EMIs) 2% + ST of the Principal Outstanding 2% + ST of the Principal Outstanding
No Due Certificate / No Objection Certificate (NOC) Rs. 250/- Rs. 250/-
Duplicate no due certificate / NOC Rs. 250/- Rs. 250/-
Solvency certificate Not applicable Not applicable
Late payment Charges of EMI @ 36 % p.a p.a on amount outstanding from date of default @ 36 % p.a on amount outstanding from date of default
Stamp duty & other statutory charges As per applicable laws of the state As per applicable laws of the state
Credit assessment charges Not applicable Not applicable
Non standard repayment charges Not applicable Not applicable
Cheque swapping charges Rs. 500/- + ST per event Rs 500/- + ST per event
Cheque bounce charges Rs. 500/- +ST per cheque Rs. 500/- +ST per cheque
Legal /Incidental charge At actual At actual
EMI cycle change Rs. 200/- Rs. 200/-
Loan cancellation charges Rs. 1000/- +ST Rs. 1000/- +ST
Foreclosure statement charges Rs.200/- + ST Rs.200/- + ST
Premium of PLRTA As Applicable As Applicable
Insurance Fees Rs. 500/- Rs. 500/-
Customer Credit Information Report (Credit Bureau)**

Rs. 200/- Individual 200/-
Non Individual - 750/-

Note - ** Will be provided only where the customer has submitted and application for loan processing
Service charge as applicable


Documentation:
  • To view the list of required documents for salaried, please click here
  • To view the list of required documents for self employed, please click here
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