|For Doctors,Engineers ,Charted Accountants,Company Seceratary ,Cost Accountant etc.|
|Type of loan||Term Loan / Overdraft upto Rs.5.00 Lakhs for Worki|
For Working Capital Day to Day needs of Business & Purchase of office premises ,Furniture ,Machinery etc
Purchase of Vehicle for Personal Use
48 Months for Term Loan upto Rs.5.00 Lakhs & On demand ( Renewal after 12/18 months) for Overdraft
84 Months for Term Loan upto Rs.50.00 Lakhs & On demand ( Renewal after 12/18 months) for Overdraft
60 Months for Vehicle Loan
Nil for Term Loan / Overdraft upto Rs.5.00 Lakhs
|Mode of Repayment||
30 % in favour of bank on Authorized Dealer quotation (Ex showroom + Registration + Insurance) for New Vehicle
Standing instruction from our Bank Account ,Debit ECS
|Margin||20 % in favour of bank in case of asset to be purchased ( 40 % in favour of bank for Existing Property offered as security )|
|Rate of interest||For Term Loan/ Overdraft Personal Loan upto Rs.5.00 Lakhs 11.50 % p.a.
For Term Loan/ Overdraft upto Rs.50.00 Lakhs 10.50 % p.a.
For Vehicle Loan 9.50 % p.a.
|Who can borrow||Doctors,Engineers ,Charted Accountants,Company Seceratary ,Cost Accountant etc.|
|Security||Hypothecation of Stock Book debts for Overdraft Loan upto Rs.5.00 Lakhs
Hypothecation of Stock Book debts and Immovable property / Govt .Securities such as NSC/KVP ,LIC policy and Term deposit of our Bank for Loan amount upto Rs.50.00 Lakhs.
Hypothecation of vehicle and Collateral security ( Immovable property / Govt .Securities such as NSC/KVP ,LIC policy and Term deposit of our Bank ) for Loan amount more than Rs.10.00 Lakhs .
|Guarantors||One acceptable guarantors|
|Subscription of bank's shares||2.5 % of the loan amount Bank's shares|
|Processing charges||0.50% of sanctioned loan amount|
|Other charges||As per Bank's policy|
|Pre-payment charges||No pre closure charges|