To help needy salaried persons financially who are
at urgent need of financial assistance to meet the expenses towards renovating house/
expenses related to marriage of their child/higher education of child/ purchase
of consumer durable appliances etc
Individuals –Employed of Govt./ reputed public sector units
having check-off facility and whose salaries and allowances arebeing paid through their
accounts maintained with the braches of our bank in a regular manner.
Minimum credit scoring of 50 marks on credit scoring
model of 100 marks.
Type of Advance
Demand / Term Loan - Secured
18 Times of Net Monthly Income(NMI) without any upper
ceiling subject to EMI/NMI percentage not exceeding 50%.
12 to 60 months, commencing one month after full disbursement/
three months after first disbursement, whichever is earlier.
Hypothecation of the Equipment purchased out of Bank Finance
Waived. However, Borrower is advised to obtain insurance
at his own cost.
0.55% of the loan amount
Other Terms and Conditions
Doctor’s Certificate to be obtained regarding the extent
of handicap and the need for the equipment.
Quotation/Invoice in respect of the equipment to be purchased.
Stamped receipt to be submitted after purchase of the equipment.