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

Loans & Advances

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