PURPOSE

• To meet personal expenses such as marriage, purchase of consumer durables, travel, holiday, etc.

PERSONAL LOAN SALARIED ELIGIBILITY

• Loan under the scheme is divided into two categories. Eligibility norms for both the category are as under:

QUANTUM

• Minimum Amount – No limit
• Maximum quantum Scheme A (tie-up):
  • Rs.15.00 Lakh.
• Maximum quantum Scheme B (tie-up):
  • New/first time borrower - Rs.5.00 lakh
  • Existing borrower with a satisfactory repayment record of 2 years - Rs.15.00 lakh

NATURE OF FACILITY

• Term Loan

AGE

• Minimum – 18 years.
• Maximum – One year prior to retirement age.

MARGIN

• Nil

PERSONAL LOAN SALARIED RATE OF INTEREST

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REPAYMENT TENURE

• The maximum repayment period will be Five years (60 months) subject to the condition that repayment should be co-terminus with retirement.

MORATORIUM

• No moratorium period is allowed. The repayment shall commence from succeeding month of first disbursement of loan.

SECURITY

• No security, subject to the condition that Spouse of the applicant must join as co-applicant.

GUARANTEE

• In case borrower is single/widow/divorcee, then personal guarantee of one of the co-employee with sufficient means.

PERSONAL LOAN SALARIED EMI CALCULATOR

• Please click here for EMI Calculator