| Who can Borrow | Individual |
|---|---|
| Purpose | Personal needs such as Marriage, Hand Loan Clearance, Medical Emergencies, Clear of debts ,Travel, Purchase of consumer products, Business etc |
| Max.Finance available | *Up to Rs.7.50 Lakh for Member (Existing Property Mortgaged in our Bank) *Rs.30.00 Thousand 1st Time, then Rs.75.00 Thousand if subsequent Payment is good. |
| Security | *Up to Rs.7.50 Lakh for Member (Should have existing Property mortgaged in our Bank)+ One person Surety (must be our Bank Member) *Other cases One person Surety Only (must be our Bank Member) |
| Repayment duration | *For Up to Rs.7.50 Lakh for Member (Existing Property Mortgaged in our Bank) Minimum Rs. 2,500/- + GST (up to Loan Rs. 5 Lakh) or 0.50 % + GST Whichever is High as applicable from time to time. *Other Cases - As Applicable |
| Share Linking | 5% On Loan Amount + Share Fees Rs.10/- per Share |
| Documentation Charges | As applicable |
| Prerequisites | 1. Income Tax returns for the last three years along with computation of income of the applicant and Surety. 2. Individuals employed/engaged in business/having professional income and sound financial of the applicant and Surety. 3. Confirmed employee in case of salaried person 4. COMPLIANCE OF KYC NORMS. (Both Parties) 5. Statement of Salary Credited Bank account for the last Six months. 6. Salary certificate or salary slip for consecutive three months. |
| Required Document | 1) 1) Latest three months pay slip or salary certificate 2) Address Proof, ID proof 3) Bank membership 4) Passport Size Photo 5) 6 months Bank statement 6) 6) Encumbrance Certificate from Last Mortgaged to till Date. 7) Property tax Paid Receipt 8) Other Documents if any. |