1

Purpose

For Meeting any social, personal financial commitments

2

Criteria of Borrowers

Individuals in employment should be in confirmed service

Professionals, Self-employed and businessmen should have at least 3 years of standing in the field of activity.

3

Eligible Loan Amount

Max. Loan amount is Rs. 10 lakhs

6

Type Loan

Term Loan

7

Repayment Period

Maximum period is 48 months without any holiday period

8

Security

Securities such as NSC, IVP, KVP, Life policies of LIC and other private insurance companies approved by IRDA

8

Margin

NSC/ KVP/IVP/ULIP etc: 25%

Insurance Policy (Surrender Value): 10%

9

Take Home Pay Norms (THP)

The takeaway home pay for salaried class should not be less than 40% of the gross income. Income of spouse or any other income like Rent are permitted for arriving the THP.

For businessmen, professionals, Self-employed persons the loan amount will be subject to ceiling of total annual income of the previous year declared in I.T return subject to maximum of Rs. 10 Lakh,

For any deviation permitting authorities is RLCC and Above.