Non Housing Loans

220-Personal loans (PL)

Personal loans (PL)



Brief Terms & Conditions at a glance

1.

Purpose of Loan

  General

2

Who is eligible

Existing borrowers Where EMI has commenced in their housing loan account, the conduct of the account is good,  there is no overdue,  valid mortgage is created and the dwelling unit is completed in all respects and having sufficient repayment capacity.

3

Quantum of loan

Maximum of Rs. 75 lakhs subject to repayment capacity and sufficient net take home income.
The proposed PL together with the existing HL outstanding should not exceed 70% of the market value of the property (security) as per the valuation report given by the company's panel valuer.

4

Repayment period

Up to a maximum of 10 years.

5

Interest rate applicable

Floating rate of interest applicable as given below:
12.50% to 13.50%

6

Disbursement

In one lump sum.

7

Security for the loan

Further mortgage of the residential property already mortgaged to us.

8

Collateral security

Depends up on case to case basis.

9

Stamp duty

As laid down in The State Stamp Act of the respective state government.

Note: For details regarding Processing charges, other charges and other Compliances, please contact your nearest branch.



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