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Dear Customer, We have launched Video KYC facility for New customer to open savings ac
Surety Loans, Smart OD and Easy Loan.
| S No. | Title | Description |
|---|---|---|
| 1. | Eligibility | Any bonafide member of the bank. |
| 2. | Purpose | For any legitimate requirement of funds except for speculative purposes. |
| 3. | Maximum Loan Amount | Rs. 5,00,000.00, Subject to repaying capacity of the borrower. |
| 4. | Repayment | Up-to maximum of 60 equal monthly instalment with interest in case of surety loan and maximum 36 months in case of smart OD. |
| 5. | Rate of Interest and other charges | As per Bank’s rules. |
| 6. | Other Conditions | ➤ In case of Govt. servant the loan should be repaid before six months of retirement and other than Govt. servant the age should be maximum 65 years. ➤ If the age of Govt. employee is 55 years and above, employer certificate for deduction/ settlement of loan is essential before relieving at the time of retirement. ➤ Two sureties of equal status. Depends up-on case to case. ➤ House ownership of borrower or sureties is preferred. ➤ Undertaking from the employer on prescribed format is must in case of smart OD and easy loan. |
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