KVS-NVS and Ministries personal scheme

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UNION PERSONAL FOR EMPLOYEES OF KVS & NVS/ ACCREDITED GOI MINISTRIES / HOME & DEFENCE MINISTRIES AND OFFICERS IN ALL INDIA SERVICES & THE TOP EXECUTIVES

There are many among us who might be facing difficulty in purchasing goods by paying a lumpsum amount. But we would be comfortable paying small installments on a monthly basis. The Union Personal loan plays an important role here. It helps you avail loans to meet personal expenses such as purchase of consumer durable, etc.

ELIGIBILITY

For Employees of Accredited GOI Ministries (& various organizations under their control):
Permanent Employees of accredited GOI Ministries (and various organisations under their control) who maintain salary account with our- bank. viz.

Labour & Employment
Environment & Forest
Science & Technology
Statistics & Programme Implementation

All India Services and the Top executives (Chairman (Official) / MD / ED / CEO /CFO / COO / GM / DGM) in State and Central PSUs
Top executives who are maintaining salary account with our bank. Viz

Confirmed officers working in All India Services such as lAS, IPS, IRS, IFS, IES, IA & AS, ISS etc
Executives in PSU organizations (CMD, MD, ED, CEO, COO, CFO, GM, whole time directors, DGM)

Home and Defence Ministries:
The applicants should be permanent employee/s of the following organizations and maintaining salary account with our bank.

Home Ministry -

Various para military forces directly controlled by Home Ministry including Central Reserve Police Force (CRPF), Border Security Force (BSF), Central Industrial Security Force (CISF), Indo-Tibetan Border Police (ITBP), Directorate of Forensic Science, National Crime Records Bureau, National Security Guard (NSG) etc.

Defence Ministry -

Army, Navy and Air Force and various establishments for defence production / manufacturing / research such as DRDO, DRDC, RCI, Heavy Vehicle Factory, Hindustan Aeronautics Limited (HAL), National Cadet Corps, Controller General of Defence Accounts, Coast Guard, Border Road Organization, Defence Production & Supplies etc. Kendriya Vidyalaya Sangathan (KVS) & Navodaya Vidyalaya Sangathan (NVS):
The applicant should be a permanent employee of KVS and NVS with minimum 3 years of service and who maintains salary accounts with our branches.

QUANTUM OF LOAN

Up to Rs. 10 Lakh subject to the repayment capacity

MARGIN, I.E. YOUR SHARE

MORATORIUM PERIOD

REPAYMENT

Maximum repayment tenure is to be the earlier of the following:

- 5 years
- One year prior to retirement

RATE OF INTEREST AND PROCESSING CHARGES

Please click here to know our latest rate of interest
No processing charges.

PREPAYMENT PENALTY

There is NO prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources.
2%take over penalty, to be levied in case of accounts taken over by other banks / FI and the party should be charged interest at applicable ROI (as on date of sanction) ab-initio.

GUARANTEE