Purpose
Any lawful personal needs of the borrower.
Loan Amount
1Lakh to 10Lakhs.
Eligibility
- Salaried : Permanent (Confirmed) professionals/ technicians/ executives of Public / Private sector companies of repute, Government service, colleges etc. having a minimum service (continuous service with all reputed employers) of two years with a future service of one year after the due date of the loan and having a monthly salary not less than 1Lakh
- Self Employed : Businessmen/ professionals & self employed persons with a declared annual income of `10.00 L or above for the previous year
Quantum Eligiblity
- For salaried : 6 times the net monthly salary of the previous month net of all obligations
- Self employed : 50% of the annual Income (net of tax) of the previous year
Repayment
Equated Monthly Instalments.
Security
- Residents- Nil
- NRIs:- All loans in the name of NRIs are to be covered by at least 100% collateral securities in the name of NRI borrowers