Purpose: For meeting personal / family finance requirements including expenses towards purchase of household articles/ white goods / electronic / computer equipments, peripherals/ expenses for medical treatment / inland or foreign leisure travel / inland or foreign business travel / travel abroad on employment contract.
For persons traveling abroad on employment contract - Certified copy of international qualifying examination like CGFNS / IELTS, certified copy of valid Passport; certified copy of Employment offer letter / Work permit, certified copy of registration obtained by the recruitment agency etc to be obtained.
Max. Quantumn of Loan: 50% of the average annual remittance to their NRI account /spouse’s domestic account (excluding bulk remittance) subject to a maximum loan of Rs. 3.00 lacs.
Mode of Disbursement: By credit to NRO account only .
- (a) for doctors( as mentioned earlier) and (b) SB account holders whose salary is credited to the account :Guaranty optional
- For persons going abroad on employment Up to Rs. 1.00 lac – one guarantor.Above Rs.1.00 lac – Property / acceptable collateral security for 125% of loan amount
- For others- at least one guarantor having NW not less than thrice the loan amount.
Rate of Interest : Click here to view the latest Rate of Interest
Upfront Fee: One-time upfront fee 0.50% of the loan amount
Repayment period: Maximum 48 months(EMIs).