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Products
& Services - Personal Loans
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General purpose loans
including for purchase of consumer durable like TV, Fridge,
Washing machine etc. |
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Employees of Govt. PSUs,
profit making Public Limited Companies and reputed Institutions
with minimum 2 years service and Rs.4,000/- Net Monthly
Income, Self-Employed Engineers, Doctors, CAs with minimum
2 years standing and Rs.48,000/- Net Annual Income are
eligible. |
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VRS optees upto the
age of 60 with a minimum Net Monthly Income of Rs. 4,000/-
are also eligible. |
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Loan amount 12 times
Net Monthly Income (including spouse income) with a maximum
of Rs. 5lacs in Metro and Rs. 2.50 lacs at other centres
for salaried and self-employed. Rs.1.50 lacs for VRS optees
at all centres. |
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Security NIL, loan is
subject to credit rating model. |
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Repayment maximum 48
months ( 36 months for VRS optees) |
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Processing charges 1%
of the loan amount. |
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| HOUSING
LOAN SCHEME
.... (We help build your
dream) |
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For construction, purchase
of new/ old house/ flat/ repair and renovation & furnishing
of house/flat or purchase of land. |
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All individuals above
21 to 65 years are eligible. |
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Loan amount to the extent
of 48 to 60 times net monthly income or 4 to 5 times net
annual income depending upon the age. |
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No maximum amount fixed. However for purchase of land
alone, the loan amount not to exceed Rs.10 lacs. |
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Spouse income can be
included for arriving at the quantum of loan. |
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Margin 15% for construction,
20% for renovation and 30% for purchase of land. |
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Repayment can be upto
20 years for person below 45 years and upto 15 years for
persons above 45 years. |
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Processing charges 0.5%
of the loan amount. |
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Free personal accident insurance cover to Bank’s housing and car loan borrowers covering death of the borrower due to accident. |
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| HOUSING
LOAN SCHEME TO NRIs |
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For construction, purchase
of new/old house/flat/repair and renovation & furnishing
of house/flat or purchase of land. |
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NRIs above 21
years holding Indian Passport, having permanent job for
the last 2 years in a reputed organization or self-employed
with Net Monthly Income (NMI) $ 1,000 or Net Annual Income
(NAI) of $ 12,000 are eligible. |
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Loan amount minimum
Rs. 3 lacs and maximum 24 months NMI or 2 times NAI. (For
purchase of land or renovation maximum Rs. 10 lacs) |
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Income of the spouse can be considered where the property
is jointly held with the spouse and spouse is co-borrower
or property held in single name and spouse stands as
guarantor.
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Margin 15% for purchase/construction
of house/flat and 20% for purchase of land or repair,
renovation, extension, or alteration of an existing house. |
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Repayment of loan within
a maximum period of 10 years. |
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Repayment of loan including
all charges. Interest etc. by remittances from abroad
or out of their accounts in India. Processing charges
1% of the loan amount. |
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| LOANS
TO PENSIONERS |
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Pensioners
upto the age of 70, drawing pension from SBS are eligible
for loans to meet personal expenses upto 12 times pension
or maximum of Rs. 75,000/- . Repayable in 24 months. No
processing charges.For family pensioners loan equivalent
to 9 months of pension with a ceiling of Rs.50,000/- |
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| CAR
LOAN SCHEME .... (Drive Home Your Dream Car) |
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To
purchase new/ old car (not more than 4 years old). |
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All
permanent employees, professionals and self- employed
are eligible. |
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Loan
amount not exceeding 24 times Net Monthly Income or
2 times Net Annual Income with a maximum of Rs. 12 lacs
for new cars and Rs. 5 lacs for old cars |
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Margin
15 % for loans upto Rs. 4 lacs, 20% for loans above Rs.
4 lacs and 30% for old cars. Repayable in 84/60 months
for new/ old car. |
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Comprehensive
insurance of the vehicle to be obtained. |
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No
processing charges. |
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| SCOOTER LOAN
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To
purchase new scooter/ motor cycle etc. |
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All
permanent employees, and other income tax assessee with
minimum Net Monthly Income of Rs.5, 000/- eligible. |
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Loan
amount 6 times Net Monthly Income.. |
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Margin
10 % for loans upto Rs. 50,000/- and 20% for loans above
Rs. 50,000/-. |
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Repayable
in 36 months. |
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Security
: Hypothecation of vehicle with check-off facility or
third party guarantee or tangible collateral security.
Comprehensive insurance to be obtained. |
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Processing
charges 1% of the loan amount. |
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| GYAN BHARATI EDUCATION
LOAN ..... (If you have the will...... We have the
way) |
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To
provide financial assistance for higher education in India
and abroad for those secured admission in recognized/
reputed institutions. |
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Loans
depending upon the course requirements, future prospects.
Need based finance considered subject to repayment capacity
with a ceiling of Rs. 10 lacs for studies in India and
Rs. 20lacs for studies abroad. |
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Expenses
considered include fees payable to college/ school/hostel
etc. essential for completion of the course. |
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No margin,
no security for loans upto Rs.4 lacs. For loans above
Rs.4 lacs to Rs.7.50 lacs security only in terms of suitable
third party guarantee, for loans above Rs.7.50 lacs suitable
collateral security equal to 100% of loan amount and a
margin of 15% for studies abroad and 5% for studies in
India. |
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No minimum
marks criteria. |
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Repayment
within 5-7 years after getting the employment or 1 year
after completion of course. |
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Interest
charged on simple rate basis during the course period
(moratorium). 1% interest remission, if the interest is
serviced during the moratorium period. |
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No
processing charges. |
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| PERSONAL
LOANS AGAINST IMMOVABLE PROPERTY |
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To
meet general requirement of finance against Equitable
Mortgage of non- encumbered residential house/ flat, non-
agricultural urban landed property, commercial or industrial
property in the name and possession of the borrower. |
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Permanent
employees, having Net Monthly Income of Rs.7,000/- and
self -employed persons, professionals having Net Annual
Income of Rs. 0.75 lacs (subject to credit rating model).
Income of spouse may be added if he/she is a co-borrower
or consents to stand as a guarantor. |
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Loan
amount 24 times Net Monthly Income (including spouse income)
or 75% of market value of property whichever is lower. |
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Minimum
loan of Rs.25000/-, lac and maximum Rs.1 crore. Repayable
in maximum 60 months. |
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Maximum
age limit 60 years. Comprehensive insurance on the property
to be obtained. |
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Processing
charges 1% of the loan amount. |
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Wherever check off facility
is available maximum period is 120 months or date of retirement
which ever is earlier. |
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Low
interest rates with reasonable repayment periods. |
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No
hidden costs. |
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No
administrative/ commitment charges. |
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Hassle-free,
without cumbersome paper work. |
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Low
processing charges. |
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Personalized
Service. |
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No
prepayment penalty. |
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Interest
charged on daily reducing balance. |
For any clarifications,
please contact
CHIEF MANAGER (P&SB) PHONE : 0278- 2437444 |
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