Eligibility of borrower:
- Having current/saving account holder of the Bank.
- Borrower must be a member of the Bank.
Purpose of Loan:
- Repairing/renovation of property.
- Purchase of Second hand Vehicle.
- Capital requirement in business.
- Any other purpose except Social purpose.
Quantum of Finance:
- Maximum finance up to Rs. 5 Lacs subject to repaying capacity of borrower.
- Borrower must have Bank's share linkage @ 2.5% of the loan sanction amount.
- Loan tenure up to 48 months.
- Nominal Processing Charge.
- No Pre-payment/fore-closure charges.
- Easy Process
- Interest is to be charged on reducing balance method.
- Two Guarantors, out of one must be a non-relative guarantor. (One guarantor should have a property & other one should have good income).