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Purpose
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- Personal Use (Education, Medical, Travel, Asset Purchase, Debt consolidation etc)
- Business Use (Working capital, Capex margin, quasi-capital, debt consolidation etc)
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Target
Customers
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- Salaried (Employees of Government, PSU, MNC, Listed companies and reputed
- Public and Private limited companies only)
- SENP (Self Employed Non-Professional) Manufacturers, Traders, Wholesalers, Retailers, Service Providers
- SEP (Self Employed Professionals) Doctors, CA, CS, ICWA, Architects, Engineers.
- Non Resident Indian
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Age
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Minimum
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21 Years
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Maximum
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– 60 years or superannuation age, whichever is earlier (Salaried)
- 65 years (Self Employed)
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Amount
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Minimum
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Rs 1.00 lacs
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Maximum
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Up to Rs 20 lakhs
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Tenure
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Minimum
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12 months
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Maximum
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Up to 60 months
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Interest rate
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Eligibility
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- Rs.25,000 pm Gross income (without clubbing of income of co-borrower/ guarantor)
- Minimum Credit Score 740.
- Employment Norms : Minimum 2 years of total employment with minimum 1 year in current employment
- Business Vintage : Minimum 3 years
- One Co-applicant/guarantor from close relative. In case of NRIs, a resident co-applicant/guarantor required
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Processing fees
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Up to 2% of the loan amount.
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Pre-payment/Pre-closure charges
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Pre-payment Charge : 5%
Pre Closure Charge : 5% after 6 months of account opening
6% within 6 months of account opening
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