UNION COMFORT ELIGIBILITY Age 18 yrs completed. Permanent employee of Central Government / State Government/ Defence / Police Force / Autonomous bodies / Public / Joint Sector undertaking / Corporations / Limited Companies / Firms / Established Educational Institutions. Individuals having regular income. Tax payers, Non-I-T permissible if annual pay Rs.1 lac or more and net take home annual pay Rs.0.40 lac - after deducting EMI of present loan. Salary accounts with financing branch. Min. 40% marks as per investment grade scoring chart. PURPOSE To meet personal expenses or purchase of consumer durables. QUANTUM 6 months net salary not exceeding Rs. 1 lac for salaried class. For others, 50% of annual income as per last 2 IT returns (not exceeding Rs.1 lac.) MARGIN Nil. REPAYMENT In 36 Euated Monthly Instalments(EMIs). Repayment starts from the nest month of disbursement of loans. RATE OF INTEREST (w.e.f. 01.07.2009) 15.00%. Concession in the rate of interest can be considered by Regional Head in case of group borrowers. PROCESSING CHARGES (EXCLUDING SERVICE TAX) Rs. 100 upto Rs. 10,000/- Rs. 250 upto Rs. 50,000/- Rs. 500 above Rs. 50,000/- SECURITY One Guarantor having means equivalent to the loan amount, Hypothecation Of Asset wherever applicable. OTHER CONDITIONS Proof of Income (Salary Certificate). Proof of Residence (latest Tel. Bill/Electricity Bill/Employer's Certificate) Irrevocable undertaking letter from the employer for recovery of installment from salary every month and to remit to bank directly. Irrevocable undertaking by the borrower authorising the Bank to recover the loan installments from his/her salary A/c./SB A/c. with the Branch. * Prevailing Rate of Interest will be applicable as on date of sanction.
ELIGIBILITY
Age 18 yrs completed.
Permanent employee of Central Government / State Government/ Defence / Police Force / Autonomous bodies / Public / Joint Sector undertaking / Corporations / Limited Companies / Firms / Established Educational Institutions.
Individuals having regular income.
Tax payers, Non-I-T permissible if annual pay Rs.1 lac or more and net take home annual pay Rs.0.40 lac - after deducting EMI of present loan.
Salary accounts with financing branch.
Min. 40% marks as per investment grade scoring chart.
PURPOSE
To meet personal expenses or purchase of consumer durables.
QUANTUM
6 months net salary not exceeding Rs. 1 lac for salaried class.
For others, 50% of annual income as per last 2 IT returns (not exceeding Rs.1 lac.)
MARGIN
Nil.
REPAYMENT
In 36 Euated Monthly Instalments(EMIs). Repayment starts from the nest month of disbursement of loans.
RATE OF INTEREST (w.e.f. 01.07.2009)
15.00%.
Concession in the rate of interest can be considered by Regional Head in case of group borrowers.
PROCESSING CHARGES (EXCLUDING SERVICE TAX)
SECURITY
One Guarantor having means equivalent to the loan amount, Hypothecation Of Asset wherever applicable.
OTHER CONDITIONS
Proof of Income (Salary Certificate).
Proof of Residence (latest Tel. Bill/Electricity Bill/Employer's Certificate)
Irrevocable undertaking letter from the employer for recovery of installment from salary every month and to remit to bank directly.
Irrevocable undertaking by the borrower authorising the Bank to recover the loan installments from his/her salary A/c./SB A/c. with the Branch.
* Prevailing Rate of Interest will be applicable as on date of sanction.
