Click Here To Join Our WhatsApp Group!
NATURE OF FACILITY
TERM LOAN.
PURPOSE
• To provide finance for purchase of Laptop/PCs/Netbooks / Tablets.
ELIGIBILITY
• Permanent Employees, Contractual employees, Professionals, Self- employed Individuals, Proprietorship
concerns, Teachers under Rehaber-a- Taleem J&K Govt., Officials under
Rehaber-a Zeerat, J&K Govt.,
Pensioners drawing their monthly
pension through our bank. • Employees of Private Limited
Companies, Private Organizations,
Reputed Establishments.
• Regular students of recognized schools,
colleges & universities.
• Regular teachers of recognized private
schools (must be permanent residents
of Union Territories of J&K and Ladakh).
AGE OF THE APPLICANT
• Minimum age: 18 years.
• Maximum age at loan maturity: For
employees Date of retirement or 60
Years whichever is earlier.
. For others: 70 years.
QUANTUM OF FINANCE • Maximum of Rs.1,50,000/=.
MARGIN • 10%.
SECURITY PRIMARY:
NIL for loans up to Rs. 50000/- Hypothecation of
Laptop/PC/Netbook/ be purchased, if loan amount is above Rs. 50,000.00
• Nil for:
• Government employees drawing salary through our Branches & where letter of confirmation is available.
Platinum / Gold / Premium plus Current account holders, having maintained satisfactory accounts for at least last 6 months.
Cash Credit / SOD account holders having a sanctioned limit above Rs. 5 lacs and minimum average utilization percentage above 60%
from at least 6 months prior to
this facility.
• Customers having Fixed Deposit accounts of value more than Rs. 5 Lakh in the Business unit sanctioning the facility. The deposit should be more than 3
months old at the time of disbursement of the loan.
• Third Party Guarantee of one person for all other categories.
PROCESSING CHARGES • NIL
RATE OF INTEREST (SUBJECT TO CHANGE)
• 3 year MCLR plus 2.50%, fixed. REPAYMENT
12 to 48 months in equated monthly
installments.
•No Pre-payment Charges
MORATORIUM PERIOD
• Nil
