|Purpose||This is an all purpose credit facility i.e. to meet legitimate need based expenses viz- marriage /medical /educational expenses / repairs / renovation / extension to the residence / commercial property/ purchase of consumer durables or any unforeseen expenses, and also for investment in business, to meet credit needs of trade, commercial activities, other bona fide requirements of business/ profession|
|Quantum of Finance||Minimum: Rs 5 lacs Maximum Rs.500 lacs, (With deviations maximum finance can be upto Rs 1000 lacs)|
|Quantum of Finance is subject to||For salaried persons: Maximum 10 times of average net annual income based on salary slip (last 12 months)/ latest Form No.16 or ITR.
For others: Maximum 10 times of average net annual income based on ITR for last 3 Financial Years.
|Rate of Interest||Click here|
|Processing Charges:||Click here|
|Repayment||For Term Loan: Maximum 10 years
For Overdraft Facility: Repayable on demand. The limit once sanctioned will hold good for 3 years.
The overdraft facility is not allowed for salaried class borrowers.
|Concession in ROI for MSMEs Only||
- Fri, January 22-2021
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