Hire Purchase Loan –Vehicle Loan
| Subject | Particulars |
| Purpose | (i) For purchase of two-wheeler, three-wheeler, four-wheeler and commercial vehicles |
| Eligibility |
(i) Vehicle loan for salaried employees, businessmen, professionals, self-employed and farmers (ii) Commercial vehicle for business purpose |
| Loan Amount | 85% of quotation of vehicles |
| Margin | 15% of quotation of vehicles |
| Repayment Period |
• For Two-Wheeler, Three-Wheeler – Maximum 42 months • For Four-Wheeler – Maximum 84 months |
| Rate of Interest |
10.50% P.A Commercial vehicle loan interest: 13.00% P.A Interest at monthly rest (Subject to change at the discretion of Bank) |
| Processing Fee | NIL |
| Share Linking | 2.5% of the amount sanctioned |
| Guarantee | Two guarantors possessing property and also income tax payers |
| Security | Hypothecation of vehicles and other bank cheques (5 to 10 nos.) |
Gold & Silver Ornament Loan
| Subject | Particulars |
| Purpose | For allied to agriculture and other purposes |
| Eligibility | Against gold and silver ornaments |
| Loan Amount | 75% of valuation by bank-approved valuer |
| Margin | 25% of valuation amount |
| Repayment Period | 1 Year |
| Rate of Interest |
Up to ₹50,000 – Nominal Member: 12% & Member: 11% Above ₹50,000 – 10.50% P.A interest at half-yearly rest (subject to change at the discretion of Bank) |
| Instalment Loan | 1, 2, 3 years – 12% |
| Processing Fee | NIL |
| Security | Gold and silver ornaments |
Open Goods
| Subject | Particulars |
| Purpose | For working capital of business |
| Eligibility | For business and trade |
| Loan Amount | 70% of stock value |
| Margin | 30% of stock value |
| Repayment Period | One year |
| Rate of Interest | 13.00% P.A (monthly) |
| Share Linking | 2.5% of the loan amount sanctioned |
| Guarantee | Two guarantors possessing property and also income tax payers |
| Security |
Hypothecation of goods and collateral security in the form of mortgage of immovable properties and bank cheques (5 to 10 nos.) |
Hypothecation-Machinery
| Subject | Particulars |
| Purpose | For purchase of new machineries / equipments |
| Eligibility | For Businessmen, Traders, Industrialists |
| Loan Amount | 75% of quotation of Machineries |
| Margin | 25% of quotation of Machineries |
| Repayment Period | Maximum 84 months |
| Rate of Interest | 14.00% P.A (Monthly) |
| Share Linking | 2.5% of the loan amount sanconed |
| Guarantee | Two guarantors possessing property and also income tax payers |
| Security | Hypothecation of machineries and collateral security in the form of mortgage of immovable properties and bank cheques (5 to 10 nos.) |
Fixed Deposit Overdraft /KVP NSC Loan/Recurring Loan
| Subject | Particulars |
| Purpose | For business and social purpose |
| Eligibility | For traders, professionals, and general public |
| Loan Amount |
90% of bank’s own Fixed Deposit / Recurring Deposit 80% of KVP / NSC certificate principal amount |
| Margin |
10% of bank’s own Fixed Deposit / Recurring Deposit 20% of KVP / NSC certificate |
| Repayment Period | Till maturity date of FDR / Recurring Deposit / KVP / NSC certificate |
| Rate of Interest |
1.00% excess over FDR / RD interest rate 12.50% in case of KVP / NSC certificate |
| Share Linking | Nil |
| Guarantee | Bank FDR / RD / NSC / KVP certificate |
| Security | By pledge of respective security like FDR / RD / NSC / KVP |
Medium Term Loan
| Subject | Particulars |
| Purpose | For business and social purpose |
| Eligibility | For salaried employees, businessmen, professionals, and self-employed persons |
| Loan Amount | Maximum ₹2,00,000 /- |
| Repayment Period | Maximum 36 months |
| Rate of Interest |
14.00% P.A Interest at monthly rest (subject to change at the discretion of Bank) |
| Processing Fee | NIL |
| Share Linking | 5.00% of the amount sanctioned |
| Guarantee | Two guarantors possessing property and also income tax payers |
| Security | Hypothecation of vehicles and other bank cheques (5 to 10 nos.) |
Home Loan
| Subject | Particulars |
| Purpose | For new purchase, repair, and new construction loan purposes |
| Eligibility | For salaried employees, businessmen, professionals, and self-employed persons |
| Loan Amount | Maximum ₹65,00,000 /- |
| Repayment Period | Maximum 240 months |
| Rate of Interest |
9.75% P.A Interest at monthly rest (subject to change at the discretion of Bank) |
| Processing Fee | NIL |
| Share Linking | 2.50% of the amount sanctioned |
| Guarantee | Two guarantors possessing property and also income tax payers |
| Security | Hypothecation of vehicles and other bank cheques (5 to 10 nos.) |
Smole finance loan /SW Rozgar loan
| Subject | Particulars |
| Purpose | For business and social purpose |
| Eligibility | For salaried employees, businessmen, professionals, and self-employed persons |
| Loan Amount | Maximum ₹2,00,000 /- |
| Repayment Period | Maximum 36 months |
| Rate of Interest |
14.00% P.A Interest at monthly rest (subject to change at the discretion of Bank) |
| Processing Fee | NIL |
| Share Linking | 5.00% of the amount sanctioned |
| Guarantee | Two guarantors possessing property and also income tax payers |
Home appliance’s loan
| Subject | Particulars |
| Purpose | For all purposes (TV, Laptop, Oven, Fridge, Washing Machine, and other home appliances) |
| Eligibility | For salaried employees, businessmen, professionals, and self-employed persons |
| Loan Amount | Maximum ₹2,00,000 /- |
| Repayment Period | Maximum 42 months |
| Rate of Interest |
12.00% P.A Interest at monthly rest (subject to change at the discretion of Bank) |
| Processing Fee | NIL |
| Share Linking | 5.00% of the amount sanctioned |
| Guarantee | Two guarantors possessing property and also income tax payers |
| Security | Hypothecation of assets and other bank cheques (5 to 10 nos.) |
Soler loan
| Subject | Particulars |
| Purpose | For home solar system purchase |
| Eligibility | For salaried employees, businessmen, professionals, and self-employed persons |
| Loan Amount | Maximum ₹5,00,000 /- |
| Repayment Period | Maximum 36 months |
| Rate of Interest |
10.50% P.A Interest at monthly rest (subject to change at the discretion of Bank) |
| Processing Fee | NIL |
| Share Linking | 5.00% of the amount sanctioned |
| Guarantee | Two guarantors possessing property and also income tax payers |
| Security | Hypothecation of solar equipment and other bank cheques (5 to 10 nos.) |
