Vehicle Loan:
Subject |
Particulars |
Purpose |
(i)For Purchase of two wheeler, three wheeler, four wheeler and for Commercial vehicles |
Eligibility |
(i)Vehicle loan for salaried employees, Businessmen, professional self employed |
Loan Amount |
75 % of Quotation of vehicles |
Margin |
25% of quotation of vehicles |
|
For old vehicle old up to three years |
Loan Amount |
70 % of vehicle valuation amount |
Repayment Period |
• For Two Wheeler, Three Wheeler – Maximum 60 months |
Rate of Interest |
13.00 % P.A |
Processing fee |
NIL |
Share linking |
2.5% of the amount sanctioned |
Guarantee |
One guarantor Possessing property and also Income tax-payer |
Security |
Hypothecation of Vehicles |
Machinery Loan:
Subject |
Particulars |
Purpose |
For purchase of new machineries /equipments |
Eligibility |
For Businessmen , Traders, industrialist |
Loan Amount |
75% of quotation of Machineries |
Margin |
25% of quotation of Machineries |
Repayment Period |
Maximum 60 months |
Rate of interest |
13.00% P.A at monthly |
Share linking |
2.5% of the loan amount sanctioned |
Guarantee |
One guarantor possessing property and also Income tax-payer |
Security |
Hypothecation of Machineries and collateral security in Form of mortgage of immovable properties |
Building Mortgage Loan:
Subject |
Particular |
Purpose |
For Business purpose by Mortgage of Property or Land |
Eligibility |
For Traders, professionals |
Loan Amount |
70% of conveyance deed/sale deed amount |
Margin |
30% of conveyance deed/sale deed amount |
Repayment Period |
Maximum 180 months |
Rate of interest |
13.00% P.A at monthly rest (Subject to change at the discretion of Bank) |
Share linking |
2.5 % of the loan amount sanctioned. |
Guarantee |
One guarantor possessing property and also Income tax-payer |
Security |
Mortgage of office/factory shed /godown / Land / Building |
Consumer Durable Loan:
Subject |
Particular |
Purpose |
For purchase of new T.V. Fridge, or Home Appliance |
Eligibility |
For General People |
Loan Amount |
75% of Quotation Price of Goods |
Margin |
25% of Quotation Price |
Repayment Period |
Maximum 36 months |
Rate of interest |
13.00% P.A at monthly rest (Subject to change at the discretion of Bank) |
Share linking |
2.5 % of the loan amount sanctioned. |
Guarantee |
One guarantor possessing property and also Income tax-payer |
Security |
By Hypothecation particular Goods. |
Hypothecation Loan:
Subject |
Particulars |
Purpose |
For Working Capital of Business |
Eligibility |
For Business, Trade |
Loan Amount |
70% of Stock Value |
Margin |
30% of Stock Value |
Repayment Period |
Upto Three year |
Rate of interest |
13.00% P.A at monthly |
Share linking |
2.5% of the loan amount sanctioned |
Guarantee |
One guarantor possessing property and also Income tax-payer |
Security |
Hypothecation of Goods and collateral security in Form of mortgage of immovable properties |
Secured Building Mortgage Loan:
Subject |
Particulars |
Purpose |
For Working Capital of Business. Bank provides ODBML Loan by mortgage agreement of Land or Building. |
Eligibility |
For Businessmen and Traders |
Loan Amount |
70% of evaluation of Loan or Building |
Margin |
30% of evaluation of Loan or Building |
Repayment Period |
Upto Five year. |
Rate of interest |
13.00% P.A at monthly |
Share linking |
2.5% of the loan amount sanctioned |
Guarantee |
One guarantor possessing property and also Income tax-payer. |
Security |
Collateral security in Form of mortgage of immovable properties |
Secure Loan:
Subject |
Particular |
Purpose |
For Business and Social purpose. |
Eligibility |
For Traders, professionals, General People |
Loan Amount |
85% of Bank own Fixed Deposit, Recurring Deposit and 60% of KVP / NSC Certificate principal amount. |
Margin |
15% of Bank own Fixed Deposit ,Recurring Deposit and 40 % of KVP / NSC Certificate |
Repayment Period |
Till maturity Date of FDR or Recurring Deposit or KVP / NSC certificate |
Rate of interest |
2.00% excess of FDR / RD interest rate and 13 % in case of KVP / NSC Certificate. |
Share linking |
Nil |
Guarantee |
Bank FDR / RD / NSC / KVP Certificate |
Security |
By pledge of particular Security like FDR/RD/NSC/KVP |
Secure Gold Loan:
Subject |
Particular |
Purpose |
For Business and Social purpose, Agriculture Purpose. |
Eligibility |
For Traders, professionals, General People |
Loan Amount |
70% of total Gold valuation |
Margin |
30% of total Gold valuation |
Repayment Period |
One Year |
Rate of interest |
12 % P.A. at monthly |
Share linking |
2.5% of the loan amount sanctioned |
Guarantee |
Gold |
Security |
Gold |
Agriculture Loan:
Subject |
Particular |
Purpose |
For Agriculture |
Eligibility |
For farmer |
Loan Amount |
Rs. 1,00,000 per 24 Guntha |
Margin |
-- |
Repayment Period |
Maximum 12 months |
Rate of interest |
13.00% P.A at monthly rest (Subject to change at the discretion of Bank) |
Share linking |
2.5 % of the loan amount sanctioned. |
Guarantee |
One guarantor possessing property and also Income tax-payer |
Security |
Mortgage of Land |
Education Loan:
Subject |
Particular |
Purpose |
For Higher Education |
Eligibility |
For aspiring students (Share Holders Family only) |
Loan Amount |
|
Margin |
-- |
Repayment Period |
Maximum 60 months |
Rate of interest |
12.00% P.A at monthly rest (Subject to change at the discretion of Bank) |
Share linking |
-- |
Guarantee |
One guarantor possessing property and also Income tax-payer |
Security |
Mortgage of House / Building |