HP

  1. Vehicle Loans

    Eligibility Criteria :

    • Any salaried persons / Professionals -  Self Employed / Businessman.
    • Only for the purpose of purchase of New Vehicle for personal usage.                               
    • Loan amount will depend upon the repaying capacity of the applicant and the  worth of the personal guarantees offered.


    Personal Guarantee having income / asset expectable to the Bank :
         For Two Wheelers Loan - At least One Person.  
         For Four Wheelers Loan - At least Two Persons.

    Primary Security  Hypothecation of Vehicle.
    Rate of Interest  11.50%
    Processing Charges  At the prevailing rates of the Bank from time to time.
    Pre-payment Charges  Nil.
    Share Money Contribution  2.5 % of the Loan Sanctioned.
    Tenure For Repayment
    • For Two Wheelers Loan  : Maximum up-to 36 months.
    • For Four Wheelers Loan  : Maximum up-to 84 months.

     

    How to apply :

    • An application in Bank’s Prescribed Form duly filled up having been affixed with the Photographs of  the applicant/s and guarantors along with their signatures to be supported by the papers / documents detailed as under.

    For the Applicant/s.

    • Income Proof.
    • Copy of I.T. Pan card.
    • Copy of  Driving license (In Force).
    • Residential Address Proof.
    • Proof  of  Residential Property owned by the applicant / member of the family.
    • Bank A/c Statement for the last six months.
    • Statement of A/c for Loan / Advance facility availed from other Bank / F.I.

    For the Guarantor/s.

    • Photo I.D.
    • Income Proof.
    • Residential Address Proof.
    • Proof  of Residential  Property owned in their name.

    Note : To offer an additional Personal guarantee of the member of the family of the applicant, who owns the residential property.
    Other supportive papers/documents/proofs to be produced, if further needed  and asked by the Bank.


  2. Term Loan For Consumer Durables

    Eligibility Criteria :

    • For purchase of Consumer Durables etc.
    • Maximum Loan facility @ 80 % of the purchase cost.
    • Amount of Loan will depend upon the repaying capacity.
    • Personal Guarantee of at least two persons having income / asset expectable to the Bank.

         

     Primary Security   Hypothecation of Consumer Durables.     
     Rate of Interest       13.50 % 
     Processing Charges  Nil.
     Pre-payment Charges  Nil.
     Share Money Contribution  2.5 % of the Limit Sanctioned.
     Tenure For Repayment   Loan to be repaid in maximum 60 EMI .


    How to apply :

    • An application in Bank’s Prescribed Form duly filled up having been affixed with the Photographs of the applicant/s and guarantors along with their signatures to be supported by the papers / documents detailed as under.

    For the Applicant/s.

    • Quotation for the purchase of consumer durables.
    • Income Proof.
    • Copy of I.T. Pan card.
    • Residential Address Proof.
    • Present Bank A/c Statement for the last six months.
    • Statement of A/c for Loan / Advance facility availed from other Bank / F.I.

    For the Guarantor/s.

    • Photo I.D.
    • Income Proof.
    • Residential Address Proof.
    • Proof of Residential Property owned in their name.

    Note : Other supportive papers/documents/proofs to be produced, if further needed and asked by the Bank’s Advocate / Valuer / Bank.


  3. Term Loan For Machinery

    Eligibility Criteria :

    • For purchase of new machinery for the purpose of Business.
    • Maximum Loan facility @ 75 % of the Cost of machinery.
    • Amount of Loan will depend upon the repaying capacity, Nature of business,  offering of collateral security  and the  worth of the personal guarantees.
    • Personal Guarantee of at least two persons having income / asset expectable to the Bank.

    Primary Security
      Hypothecation of Machinery.
    Effective Rate of Interest   13.00 % *
    Processing Charges    At the prevailing rates of the Bank from time to time.
    Pre-payment Charges   Nil.
    Share Money Contribution   2.5 % of the Limit Sanctioned.
    Tenure For Repayment   Loan to be repaid in maximum 60 EMI .



    How to apply :

    • An application in Bank’s Prescribed Form duly filled up having been affixed with the Photographs of the applicant/s and guarantors along with their signatures to be supported by the papers / documents detailed as under.

    For the Applicant/s.

    • Quotation for the purchase of machinery.
    • Income Proof.
    • Proof regarding Registrations of the business.
    • Proof regarding place of business.
    • Copy of I.T. Pan card.
    • Residential Address Proof.
    • Projected figures for next 5 years for loan more than Rs. 5.00 lacs.
    • Present Bank A/c Statement for the last six months.
    • Statement of A/c for Loan / Advance facility availed from other Bank / F.I.

    For the Guarantor/s.

    • Photo I.D.
    • Income Proof.
    • Residential Address Proof.
    • Proof of Residential Property owned in their name.

    Note : Other supportive papers/documents/proofs to be produced, if further needed and asked by the Bank’s Advocate / Valuer / Bank.
    * Conditions applied.