General Consumption Loan

We Provide loans to meet your Personal Credit Requirements.

Purpose

  • To meet all your personal credit requirements.
  • To meet your family expenses/personal/business purposes.
  • Loan should not be utilized for any speculative purpose.

Eligibility

  • Applicant shall be a permanent resident in the command area of the branch and should have adequate net worth
  • They should have adequate income from all sources to repay the loan
  • Income of Spouse/Son/Daughter will also be considered, if they also join the transaction as co-borrower
  • In the case of salaried class they should have minimum service of 2 years left

Limit & Margin

    Limit

  • For Salaried class : One year gross income.
  • Others : Two years net income
  • Margin

  • Nil

Security

    Upto Rs. 50,000/-

  • Co-obligation of one worthy person, having sufficient Net worth (attachable assets) and income.
  • EM of landed property valued at least 200% of loan amount.
  • EM property should be non-agricultural Wherever the value of property is less than 200%, additional collateral security like LIC policies with sufficient surrender value, term deposits of our bank, etc. may be produced
  • Above Rs. 5,00,000/-

  • Co-obligation of a worthy person
  • EM of landed property valued at least 200% of loan amount.
  • EM property should be non-agricultural Where ever the value of property is less than 200%, additional collateral security like LIC policies with sufficient surrender value, term deposits of our bank, etc. may be produced
  • Relaxation in security norms may be permitted in the case of permanent employees of Central/State Govt.,Reputed Public Sector Undertakings, Reputed Companies,Teachers & Staff of Govt. /Aided Schools, Colleges, Local Bodies; subject to conditions.

Repayment

  • Loan amount should be repaid within a maximum period of 7 years in EMIs
  • Loan to be liquidated before the date of retirement in the case of Salaried Class and shall be repaid in full before the borrower attains the age of 70 years in Other Categories.

Interest Rates & Charges

  • To meet all your personal credit requirements.
  • To meet your family expenses/personal/business purposes.
  • Loan should not be utilized for any speculative purpose.
  • Applicant shall be a permanent resident in the command area of the branch and should have adequate net worth
  • They should have adequate income from all sources to repay the loan
  • Income of Spouse/Son/Daughter will also be considered, if they also join the transaction as co-borrower
  • In the case of salaried class they should have minimum service of 2 years left

    Limit

  • For Salaried class : One year gross income.
  • Others : Two years net income
  • Margin

  • Nil

    Upto Rs. 50,000/-

  • Co-obligation of one worthy person, having sufficient Net worth (attachable assets) and income.
  • EM of landed property valued at least 200% of loan amount.
  • EM property should be non-agricultural Where ever the value of property is less than 200%, additional collateral security like LIC policies with sufficient surrender value, term deposits of our bank, etc. may be produced
  • Above Rs. 5,00,000/-

  • Co-obligation of a worthy person
  • EM of landed property valued at least 200% of loan amount.
  • EM property should be non-agricultural Wherever the value of property is less than 200%, additional collateral security like LIC policies with sufficient surrender value, term deposits of our bank, etc. may be produced
  • Relaxation in security norms may be permitted in the case of permanent employees of Central/State Govt.,Reputed Public Sector Undertakings, Reputed Companies,Teachers & Staff of Govt. /Aided Schools, Colleges, Local Bodies; subject to conditions.
  • Loan amount should be repaid within a maximum period of 7 years in EMIs
  • Loan to be liquidated before the date of retirement in the case of Salaried Class and shall be repaid in full before the borrower attains the age of 70 years in Other Categories.

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