Purpose & Eligibility

• Purpose:

  • To meet personal / family expenses in case of any exigencies
  • To meet finance-gap in business or any legitimate purpose acceptable to the bank

• Eligibility :

  • Salaried employees
  • Businessmen
  • Self-employed

  • Professionals having regular source of income
  • Firm (proprietary / partnership / limited liability partnership)
  • Private / public limited company

Quantum & Tenure

• Quantum :

  • Subject to bank’s exposure limit

• Tenure :

  • In case of regular loan against paper securities : Maximum 5 Years or residual period of maturity whichever is lower
  • In case of overdraft facility against paper securities : 1 Year, subject to annual review (monthly interest servicing would be must)

Documentation & Security

• Basic Documents :

  • In case of new customer, applicant & guarantors need to open savings / current account
  • Kisan Vikas Patra (KVP) / National Savings Certificate (NSC) / Life Insurance Policy (LIC)

• Security :

  • Kisan Vikas Patra (KVP) / National Savings Certificate (NSC) in the name of the applicant to be pledged and duly discharged
  • Assignment of Life Insurance Policies

ROI

• ROI :

  • Please click here to know about latest ROI & Service Charges.