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1
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Purpose
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To meet genuine personal or business needs of individuals.
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2
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Eligibility
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Individuals who are salaried / professionals/ SE & NP/NRI /pensioner/ firms/ companies who have adequate repayment capacity supported by Proof Viz Salary slips/Form 16 and Income Tax Returns.
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3
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Disbursement
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- In one lump sum or in tranches, within 6 months. If not availed/ fully availed within 6 months, unavailed limit to be cancelled.
- Further disbursements in 13th month and 25th month as enhancement.
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4
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Security
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- EMT of the Residential / Commercial property.
- Sites allotted by Govt/Govt Development Authorities like DDA /BDA etc., and sites in layouts developed by Hsg. Co. Op. Societies formed by Central/ State Govt. employees Association having the requisite civic approvals, where securities are perfect i.e., with final sale deed/conveyance deed.
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5
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Rate of interest
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Prevailing card rate.
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6
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Repayment
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Up to 10 years by way of EMI. If disbursed in tranches, full EMI to start from 3rd month.
In deserving cases up to 15 years at the discretion of the company. |
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7
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Other conditions
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If borrower wishes to avail additional amounts / already pre-paid amount, he may avail up to 110% of loan amount after 12th month by way of enhancement of loans .likewise up to 125% after 24 months. |