|
Variants of the Loan
|
Dropline Overdraft
Term Loan
|
| Purpose |
- Any Personal purpose
- Balance Transfer of Existing limits/loans with other banks
- Consolidation of debt
|
|
Target
Customers
|
- Individual
- Group of Individual
- HUF
- Trust
|
|
Age
|
|
Minimum
|
21 years
|
|
Maximum
|
- 60 years or superannuation age (Salaried)
- 70 years (Self-employed & Pensioners)
- 75 years (Property owner & Income not considered)
Maximum Age at the time of Loan maturity
|
|
|
Amount
|
|
Minimum
|
10.00 lacs
|
|
Maximum
|
- Personal - Rs.2.00 crore
- NRIs Rs.1.00 crores
|
|
|
Tenure
|
|
Minimum
|
3 years
|
|
Maximum
|
12 years
|
|
|
Interest rate
|
|
| Features |
- Only residential (residential properties) located in Corporation or Municipality shall be accepted
- Panchayat residential plot situated in prime location can be accepted if total extent is below 30 cents
- Spouse of property owner is to join as guarantor.
- Wherever a second signatory is not available, one guarantor is to be obtained from the applicant’s close relatives.
- In case of NRIs, there should be one resident as co-applicant/guarantor.
|
|
Processing fees
|
From 1.00 % to 1.5 % of loan amount (Minimum Rs 10000.00 +GST)
|
|
Penal Interest
|
2.00% p.a. for the defaulted amount for the defaulted period
|
|
Prepayment / Pre-closure charges
|
As per extant guidelines
|
|
List Of Documents Required With Respect To The Purpose Of Loan
|
|
Salaried Class
|
Business Class
|
Pensioners
|
|
KYC Docs (PAN Card and Aadhar Card and Photographs)
|
KYC Docs (PAN Card and Aadhar Card and Photographs)
|
KYC Docs (PAN Card and Aadhar Card and Photographs)
|
|
ITR for the two years with computation sheet
|
ITR for the two years with computation sheet
|
ITR for the two years with computation sheet
|
|
Salary Slip/Pension Statements for 3 months deed etc to be taken
|
Recent financials
|
Pension Statements for 3 months
|
|
Account Statement for 6 months
|
Account Statement for 6 months.
|
Account Statement for 6 months
|
Title deeds, Possession Certificate, Encumbrance certificate, location certificate and sketch Tax Paid Receipts
|