Vehicle Loan
Subject | Particulars |
Purpose | (i)For Purchase of two wheeler, three wheeler, four wheeler and for Commercial vehicles |
Eligibility | (i)Vehicle loan for salaried employees, Businessmen, professional self employed, (II) Commercial Vehicle for business purpose. |
Loan Amount | 70 % of Quotation of vehicles |
Margin | 30% of quotation of vehicles |
For old vehicle old up to three years | |
Loan Amount | 50 % of vehicle valuation amount |
Repayment Period | • For Two Wheeler, Three Wheeler – Maximum 36 months • For Four Wheeler – Maximum 60 months. |
Rate of Interest | 15.00 % P.A P.A Interest at monthly rest ( Subject to change at the discretion of Bank ) |
Processing fee | NIL |
Share linking | 2.5% of the amount sanctioned |
Guarantee | Two guarantor Possessing property and also Income tax-payer |
Security | Hypothecation of Vehicles |
Machinery Loan
Subject | Particulars |
Purpose | For purchase of new machineries /equipments |
Eligibility | For Businessmen , Traders, industrialist |
Loan Amount | 70% of quotation of Machineries |
Margin | 30% of quotation of Machineries |
Repayment Period | Maximum 60 months |
Rate of interest | 15.00% P.A at monthly |
Share linking | 2.5% of the loan amount sanctioned |
Guarantee | Two guarantor possessing property and also Income tax-payer |
Security | Hypothecation of Machineries and collateral security in Form of mortgage of immovable properties |
Building Construction Loan
Subject | Particular |
Purpose | For purchase /construction of new office/factory shed /Godown |
Eligibility | For Traders, professionals |
Loan Amount | 70% of conveyance deed/sale deed amount |
Margin | 30% of conveyance deed/sale deed amount |
Repayment Period | Maximum 60 months |
Rate of interest | 15.00% P.A at monthly rest (Subject to change at the discretion of Bank) |
Share linking | 2.5 % of the loan amount sanctioned. |
Guarantee | Two guarantor possessing property and also Income tax-payer |
Security | Mortgage of office/factory shed /godown / Land |
Building Mortgage Loan
Subject | Particular |
Purpose | For Business purpose by Mortgage of Property or Land |
Eligibility | For Traders, professionals |
Loan Amount | 70% of conveyance deed/sale deed amount |
Margin | 30% of conveyance deed/sale deed amount |
Repayment Period | Maximum 60 months |
Rate of interest | 15.00% P.A at monthly rest (Subject to change at the discretion of Bank) |
Share linking | 2.5 % of the loan amount sanctioned. . |
Guarantee | Two guarantor possessing property and also Income tax-payer |
Security | Mortgage of office/factory shed /godown / Land / Building |
Consumer Durable Loan
Subject | Particular |
Purpose | For purchase of new T.V. Freez, or Home Appliance |
Eligibility | For General People |
Loan Amount | 70% of Quotation Price of Goods |
Margin | 30% of Quotation Price |
Repayment Period | Maximum 36 months |
Rate of interest | 15.00% P.A at monthly rest (Subject to change at the discretion of Bank) |
Share linking | 2.5 % of the loan amount sanctioned. . |
Guarantee | Two guarantor possessing property and also Income tax-payer |
Security | By Hypothicationof particular Goods. |
Hypothecation Loan
Subject | Particulars |
Purpose | For Working Capital of Business |
Eligibility | For Business, Trade |
Loan Amount | 50% of Stock Value |
Margin | 50% of Stock Value |
Repayment Period | One year. |
Rate of interest | 14.00% P.A at monthly |
Share linking | 2.5% of the loan amount sanctioned |
Guarantee | Two guarantor possessing property and also Income tax-payer |
Security | Hypothecation of Goods and collateral security in Form of mortgage of immovable properties |
Secured Building Mortgage Loan
Subject | Particulars |
Purpose | For Working Capital of Business.Bank provides ODBML Loan by mortgage agreement of Land or Building. |
Eligibility | For Businessmen and Traders |
Loan Amount | 70% of evaluation of Loan or Building |
Margin | 30% of evaluation of Loan or Building |
Repayment Period | One year. |
Rate of interest | 14.00% P.A at monthly |
Share linking | 2.5% of the loan amount sanctioned |
Guarantee | Two guarantor possessing property and also Income tax-payer. |
Security | collateral security in Form of mortgage of immovable properties |
Secure Loan
Subject | Particular |
Purpose | For Business and Social purpose. |
Eligibility | For Traders, professionals, General People |
Loan Amount | 85% of Bank own Fixed Deposit ,Recurring Deposit and 75% of KVP / NSC Certificate principal amount. |
Margin | 15% of Bank own Fixed Deposit ,Recurring Deposit and 25 % of KVP / NSC Certificate |
Repayment Period | Till maturity Date of FDR or Recurring Deposit or KVP / NSC certificate |
Rate of interest | 2.00% excess of FDR / RD interest rate and 14 % in case of KVP / NSC Certificate. |
Share linking | Nil |
Guarantee | Bank FDR / RD / NSC / KVP Certificate |
Security | By pledge of particular Security like FDR/RD/NSC/KVP |