LOANS IN SBPP
ORGENISATION STRUCTURE OF LOAN DEPARTMENT
Organization Structure of Loan Department
Board of Directors
General Manager
1 Assistant General Manager
2 Executive Officers
Head of App. Receive Department
Head of Department Head Recovery Department
5 Officers 1 Ass.Acc 5 Officers 1 Ass.Acc 5 Officers 1 Ass.Acc
1 Clerk 1 Clerk 1 Clerk 1 Clerk 1 Clerk 1 Clerk
Loan Procedure in
If rejected
If accepted
1. Submission of the application form
2. Primary Assessment
3. Appraisal of application
4. Branch Heads Recommendation
5. Final Assessment
Send to corporate office
6b. Rejected application is send back to the applicant
6a. Decision of the lending committee
7. Executive given by the board
8. Completion of the formalities
9. Disbursement of loan
I. The main and the first step is the submission of the duty filled from
or the loan application it is the choice of customer that which type of
application he wants to give depending upon the needs.
For Example: car loans education loan in the case of advances
payments of the fees particular fees is also required to be paid.
II. Now the primary assessment is to be done. Here the financial details
of the application.
Example: pan number etc. the income proof is checked that is the
salary slip (salaried application), P & L A/c, Balance Sheet and IIR
(self employed) after primary assessment one come to know about
the details of the application his genuine, his repayment capacity his
purpose for loan etc.
III. The appraisal is moving one step ahead that is to analysis the
applicants eligibility as per the norms provided by the considering
his gross income after deducting his liabilities, his actual repayment
capacity is checked as per norms.
IV. After referring the application form an appraisal branch head put his
recommendation whether to accept the application or not and send it
the corporate office.
V. At the corporate office the final assessment is to be done and
decision is taken to reject the application repay is forwarded to the
particular branch from where the application has been received.
VI. The branches have the power to take the major decision on the
sanctioning of the loan.
VII. After the full completion the disbursement of the loan in the hands
of the head office.
VIII. If the application is accepted then the other formalities are
completed.
Example: The submissions of the other necessary documents,
payments of the other charges, payment of the margin money, post
datedcheques are also deposited.
SOME IMPORTANT ASPECTS OF LOAN
PROCEDURE:
Bank gives a permission to branch only to give F.D. agits-loan.
If the amount up to 500000 then it is necessary to have signature of
Executive and Director General Manager.
If the amount above 500000 then it is necessary to have signature of
Executive and Director General Manager.
In mortgage loan up to 100000 it is necessary to have the signature of
Executive and Director General Manager and General Manager.
* If General Manger is not present then Assistant General Manager and
Director General Manager signature can consider.
TYPES OF LOAN PROVIDED AT SBPPCB
Home Loan
Home loan is for purchase/construction of flat/bungalow/house. Our housing
loan is available on competitive interest. This home loan is available for 5 to
15 year. So, as your convenience you can select your home loan period and
also you can plan for easy installment.
Purpose:
Purchase/Construction of property.
Extend/Renovate/Repair of house or flat owned by yourself.
Take – over existing housing loan.
Features:
Long term housing loan (5 to 15 years)
Margin 20%
Easy Process
Interest charged on actual reducing balance
No Hidden charges
Nominal Processing charges
No Prepayment Penalty
Interest will be charged on daily product bases.
Margins:
20% Margin for Home Loan
Interest Rates as implemented on : 5/16/2008
Period Interest Rates (in %)
Up to 5 years 10.5
Up to 10 years 11
Up to 15 years 11.5
Eligibility:
You must be at least 21 years of age when the loan is sanctioned.
Repayment:
Repayment in easy installments spread up to 15 years. (based on your age
and repaying capacity). You may pay more than your stipulated monthly
installment at any date within a month, depending upon availability of funds
with you. This would enable you to pay off your loan faster and reduce your
interest burden. No Prepayment Penalty.
Takeover of Loan
If you have already taken a housing loan from any other bank/financial
institution and want to avail of the benefit of our low rates of interest, we
can take over the loan you have availed from other financial institute.
Documentation:
1. Required Documents for Assets
For Purchase
Allotment Letter
Other proof for purchase/construction
For Construction
Approved Plan, Approval Letter, Construction Estimate,
Necessary proof of Assets
2. Income Proof
If the applicant’s has his own business then
Last three years IT Returns, Profit & Loss Ledger, Balance
Sheet, Property Ledger.
Copy of Computation of income tax, Tax acknowledgement
and Assessment order. (If you are eligible for income tax)
For Employee
Last Pay-Slip/ Salary Certificate/Copy of form no. 16.
Copy of salary Certificate of whole year.
(From 1.4. ______ to 31.3. ______ )
If P.P.F. is deducting from your salary then copy of that also.
3. Business Proof
Registration of business certificate (Gumasta Dhara License)/ or copy
of Sales tax no.
4. Residence Proof
Copy of City Survey or Tax bill of your existing house/Rent
Receipt/Ration Card/Driving License.
5. Addition information required for guarantee
Details of L.I.C. Policy with receipt.
N.S.C./K.V.P./Term Deposits of our Bank.
6. Information of Bank Account
Bank Statement of last 6 months or passbook which should have
record of last six months.
7. One Guarantor
Guarantor assets proof, Copy of city survey or Share certificate, copy
of 7/12, Tax-bill and receipt.
Income proof.
The following other documents are needed for Title Investigation.
a) Duly stamped Agreement for sale with builder/society in case of first
sale.
b) Duly stamped Agreement for resale with the present owner including
all previous Intervening Agreement.
c) Conveyance Deed in favor of builder/society (in case of builder, if
there is no conveyance, then Agreement to sell land and development
Agreement).
d) Transfer form executed by the present owner in case of society.
e) Receipt of Registration fees (filling fees) issued by the Sub-Registrar
of Assurances in respect of Agreement for Sale/Re-sale/Conveyance
Deed.
i) N.O.C. from the builder for the proposed mortgage.
OR
ii) N.O.C. from the society for the proposed mortgage.
f) Commencement Certificate/Development permission granted by the
competent Authority (viz. Municipal Corporation/ Gram Panchayat as
the case may be of the concerned area) for constructing the building.
g) Approved building plan (approved by the Competent authority),
Municipal concerned area.
h) Occupation/Completion Certificate granted by the Competent
authority (viz. Municipal Corporation/ Council or Gram Panchayat as
the case may be, of the concerned area) in respect of the building.
i) Title Report/ Certificate from the Solicitor/ Advocate of the builders/
sellers regarding the said property.
j) Valuation report from approved valuer.
Share Certificate in the name of (applicant) issued by the Co-
operative Hsg. Society (after the applicant becomes member)
Letter of possession.
Original receipt of payment
Any other document/certificates needed as per requirement.
2. Personal Loan
This loan is for personal purpose e.g. family holiday tour, medical
treatement, education expenses, marriage etc. Repayment tenures are up
to 60 months.
Purpose:
Any personal use
Business use.
Features:
Loans available for 60 Months.
Easy Process
Interest charge on actual reducing balance
No Hidden Charges
Nominal Processing Charge
No Prepayment Penalty
Interest will be charges on daily product bases.
Eligibility:
You must be at least 21 years of age when the loan is sanctioned.
Interest Rates as implemented on 1/1/2006 ; 12.00%
Repayment
Repayment in easy installments spread up to 60 months. You may prepay at
will with no penalty, or pay more than your stipulated monthly installment at
any time, depending upon availability of funds with you. This would enable
you to pay off your loan faster and reduce your interest burden. There is No
Prepayment Penalty in home loan.
Documentation:
Latest 3 months Bank Statement (where salary/income is credited)
Latest 2 salary slips
Last 2 years ITR with computation of income/ Certified Financials
Proof of turnover (Latest Sales / Service tax returns)
Proof of Continuity current job (Form 16 / Company appointment
letter)
Proof of Continuity current profession (IT Returns/ Certificate of
business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Qualification Highest Degree (for Professionals / Govt.
employees)
3. Loan for Self Employed and Professionals
This loan is for those who are self employed and professionals, like Doctor, Lawyer, Teacher, Chartered Accountant. This loan is available for 12 month to 60 months with competitive interest rates.
Purpose:
For Equipments, Furniture & Business Property.
Features:
Loans available for 12-60 months.
Margin 20%
Easy Process
Interest charge on actual reducing balance
No Hidden charges
Nominal Processing Charge
No Prepayment Penalty
Interest will be charged on daily product bases.
Special Scheme for Doctors 100% finance for vehicle/equipments.
Eligibility:
1. Professionals
2. Self employed
Margins:
20 % Margin for personal loan for business purpose
Interest Rates as implemented on : 1/1/2006
10.50 % Interest yearly
Repayment
Repayment in easy installments spread up to 12 to 60 months. You may
prepay at will with no penalty, or pay more than your stipulated
monthly installment at any time, depending upon availability of funds
with you. This would enable you to pay off your loan faster and reduce
your interest burden. No Prepayment Penalty.
Documentation:
Latest 3 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of turnover (Latest Sales / Service tax returns)
Proof of Continuity current profession (IT Returns/ Certificate of
business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Qualification (for Professionals / Govt. employees)
4. Business or Industrial Loan
This loan is for Business man and industrialist who are planning for new
plant machinery, fixed assets or else they want to upgrade their old
machinery. Even they can take loan for cash credit, overdraft, working
capital term loan, cash purchase cum credit sales, bills discount against L.C.,
etc.
Purpose:
Purpose for business and industries (for plant machinery, fixed assets,
cash credit, overdraft, working capital term loan, cash purchase cum
credit sales, bills discount against L.C., bills discount.
Features:
Finance for total project
Finance for machinery, stock
Quick Response.
Loans available for 3 years and more.
Margin 20%
Easy and Simple Process
Interest charge on actual reducing balance
No Hidden Charges
Nominal Processing Charge
No Prepayment Penalty
Interest will be charged on daily product bases.
Margins: 20% Margin for Personal Loan
MPBF – Maximum Permitable Bank Finance
Repayment
Repayment in easy installments spread up to 3 year to more than 5 years
also. You may prepay at will with no penalty, or pay more than your
stipulated monthly installment at any time, depending upon availability of
funds with you. This would enable you to pay off your loan faster and
reduce your interest burden. No Prepayment Penalty.
Takeover of loan
If you have already taken a business loan from any other bank/financial
institution and want to avail of the benefit of our low rates of interest, we
can take over the loan you have availed from them.
Documentation:
Latest 6 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of turnover (Latest Sales / Service tax returns)
Proof of Continuity current profession (IT Returns/ Certificate of
business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Office (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Qualification Degree (for Professionals / Govt. employees)
5. Consumer Loan
Consumer loan is for purchase all consumer items. This loan is available for
anyone (like businessman, employed, self employed, Profession).
Purpose:
Purpose for any consumer item.
(TV, Washing Machine, Refrigerator, AC. Etc.)
Features:
Long term loan up to 60 months (5 years)
Easy Process
Interest charge on actual reducing balance
No Hidden Charges for administrative work.
Nominal Processing Charge
No Prepayment Penalty
Interest will be charged on daily product bases.
Eligibility:
1. Salaried Individuals
2. Professionals
3. Self Employed Individuals
4. Businessman
Margins:
30 % Margin
Interest Rates & Installments as implemented on 1/1/2006
Consumer Loan Interest Rates
Interest of Consumer Loan 13.00 %
Repayment
Repayment in easy installments spread up to 5 years, based on your age and
capacity. You may prepay at will with no penalty, or pay more than your
stipulated monthly installment at any time, depending upon availability of
funds with you. This would enable you to pay off your loan faster and
reduce your interest burden. No Prepayment Penalty.
Documentation:
Latest 6 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of Continuity current business or industries (IT Returns/
Certificate of business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Quotation.
6. Vehicle Loan
We are giving two kinds of vehicle loan.
1. For Personal Vehicle (Two Wheeler / Car Loan)
Vehicle Loan is available for purchase two wheeler (like scooter, bike, ..) or
four wheeler. Bank offer convenient installment and competitive interest
rates on vehicle loan.
2. For Commercial Loan – Vehicle using for commercial purpose.
Purpose:
Personal vehicle (two wheeler/ car loan)
Commercial vehicle
Features:
Long term loan up to 60 months (5 years)
Easy Process
Interest on actual reducing balance
No Hidden Charges for administrative work.
Nominal Processing Charge
No Prepayment Penalty
Interest will be charged on daily product bases.
Eligibility
1. Salaried Individuals
2. Professionals
3. Self Employed Individuals
4. Businessman
Margins:
20 % Margin For Vehicle Loan
Interest Rates & Installments as implemented on 1/1/2006
Detail Interest
Rates
Limit in
Lac
Margin
Interest of Consumer Loan 12.00 % 15 20 %
Repayment
Repayment in easy installments spread up to 5 years, based on your age and
capacity. You may prepay at will with no penalty, or pay more than your
stipulated monthly installment at any time, depending upon availability of
funds with you. This would enable you to pay off your loan faster and
reduce your interest burden. No Prepayment Penalty.
Takeover of loan
If you have already taken a business loan from any other bank/financial
institution and want to avail of the benefit of our low rates of interest, we
can take over the loan you have availed from them.
Documentation:
Latest 6 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of Continuity current business or industries (IT Returns/
Certificate of business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Office (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Quotation from dealer.
7. Education Loan
To provide financial assistance by way of loans to the meritorious students
in order to encourage them to start the full time Graduate/ Post Graduate
professional course in private professional colleges and universities for
developing the technical skills in various disciplines viz. medical,
engineering, management, computer science etc.
Purpose:
Further Education. (for books, necessary equipments, stationery, fees,
hostel fees, college fees, etc.)
Features:
Long term loan up to 2 years
Easy process
Interest charge on actual reducing balances
No Hidden Charges for administrative work.
Nominal Processing Charge
No Prepayment Penalty
Eligibility Criteria:
Students should have consistently good academic record.
Students should have secured admission in College/ University
against merit or payment seat.
The college must be affiliated to the university or Institute having
Central / State government recognition.
The course must be recognized by the concerned government body.
Computer course with placement assurance by the
company/institute/agency.
Amount of Loan:
Cost of education will cover following expenses for the whole duration of
course.
Tuition fees
Examination fees
Cost of books, stationery, necessary equipments,
Hostel fees – including lodging & boarding.
However, maximum loan can be for study in India and for study in abroad.
Loan will be disbursed directly to the college/institute concerned only.
The loan will be released every year on the production of proof of
continuing education.
Margins:
10% to 20% depending on merit of the case.
Interest Rates implemented as on 12/12/2007
Period Interest Rates (in %)
Education Loan 10.5
Repayment
Repayment of loan will commence after 6 months of completion of
the course. OR
After 6 months of employment whichever is earlier.
However, the feasibility of repayment of the loan by father/natural guardian
during the period of loan should be explored.
Monthly interest must be paid by parent/guardian positively.
Security:
Property / liquid security.
8. Loan against Shares
(Joint Stock Company in Demat Form):
This loan can be use for any purpose. If you have shares of joint stock
company then you can also take a loan against that. Loan amount can
determined on the basis of the valuation of share pledge by you. This is for if
you have shares of joint stock company and that you don’t want to sell it, in
that case bank can give you a loan against this security.
Purpose:
For any purpose.
Features:
Instant loan against shares (joint stock company)
Low interest rates
Long term loan up to 60 months ( 5 years)
Easy Process
Interest charge on actual reducing balances
No Hidden Charges for administrative work
Nominal processing charge
ATM service
No Prepayment Penalty
Eligibility:
You must be share holder of joint stock company.
You must be at least 21 years of age when the loan is sanctioned.
The loan must terminate before or when you turn 65 years of age or
before retirement, whichever is earlier.
You must be businessman or employed or self-employed or
profession with a regular source of income.
1. Salaried Individuals
2. Professionals
3. Self Employed Individuals
Margins:
50% Margin for Dematted Shares
Interest Rates & Installments as implemented on 1/1/2006
Detail Interest Rates Limit Margin
Interest of loan
against Shares (Joint
Stock company)
12.50% 10 50%
Repayment
Repayment in easy installments spread up to 5 years, based on your age and
capacity. You may prepay at will with no penalty, or pay more than your
stipulated monthly installment at any time, depending upon availability of
funds with you. This would enable you to pay off your loan faster and
reduce your interest burden. There is No Prepayment Penalty in home loan.
Documentation:
Copy of Share (Joint Stock Company held in dematted form of
approved)
Latest 6 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of turnover (Latest Sales / Service tax returns)
Proof of Continuity current business or industries (IT Returns/
Certificate of business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Office (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Qualification Highest Degree (for Professionals / Govt.
employees)
9. Loan against N.S.C./K.V.P./Gov. Security/ L.I.C. Policy
This loan can be for any purpose but it is against N.S.C., K.V.P., or if you
have any government security or L.I.C. Policy. Using this you can have
instant finance with out breaking your any security. All you have to do is
pledge your N.S.C./K.V.P./Government Security or L.I.C. policy and then
we will grant you a loan up to a value determined on the basis of the
securities pledge by you.
Purpose:
PurposeFor any purpose.
Features:
Long term loan up to 60 months ( 5 years)
Easy Process
Interest charge on actual reducing balances
No Hidden Charges for administrative work
Nominal processing charge
No Prepayment Penalty
Eligibility:
1. Salaried Individuals
2. Professionals
3. Self Employed Individuals
Margins:
35% Margin
Interest Rates & Installments as implemented on 1/1/2006
Detail Interest
Rates
Limit in Lack Margin
Interest of loan against
(N.S.C./K.V.P./Gov.
Security/L.I.C. Policy)
21% 10 35%
Repayment
Repayment in easy installments spread up to 5 years, based on your age and
capacity. You may prepay at will with no penalty, or pay more than your
stipulated monthly installment at any time, depending upon availability of
funds with you. This would enable you to pay off your loan faster and
reduce your interest burden. There is No Prepayment Penalty in home loan.
Takeover of loan
If you have already taken any other loan from any other bank/financial
institution and want to avail of the benefit of our low rates of interest, we
can take over the loan you have availed from them.
Documentation:
Documents of N.S.C./K.V.P./Government Security or L.I.C. Policy.
Latest 6 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of turnover (Latest Sales / Service tax returns)
Proof of Continuity current business or industries (IT Returns/
Certificate of business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Office (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Qualification Highest Degree (for Professionals / Govt.
employees)
10. Mortgage Loan
This loan available for anyone (like businessman, employed, self employed,
Profession), but they should have their own property to mortgage, like flat,
house, factory, office, gold etc.
You can take this loan for any reason like marriage, well-deserved holiday,
medical emergency. In all this case you have property but you would rather
not have to sell it, for that we will keep your property, we make valuation of
your property and on that bases we give you loan. Loan amount is depending
on valuation of your property.
Purpose:
PurposeFor any reason.
Features:
Long term loan up to 60 months ( 5 years)
Easy process.
Interest charge on actual reducing balance
Rebate on interest as per rules
No Hidden Charges for administrative work
Nominal processing charge
No Prepayment Penalty
Eligibility:
1. Salaried Individuals
2. Professionals
3. Self Employed Individuals
Margins:
20% Margin
Interest Rates & Installments as implemented on 1/1/2006
Details Interest Rates
Interest of Mortgage Loan 10.50%
Repayment
Repayment in easy installments spread up to 5 years, based on your age and
capacity. You may prepay at will with no penalty, or pay more than your
stipulated monthly installment at any time, depending upon availability of
funds with you. This would enable you to pay off your loan faster and
reduce your interest burden. There is No Prepayment Penalty in
Mortgageloan.
Takeover of loan:
If you have already taken a mortgage loan from any other bank/financial
institution and want to avail of the benefit of our low rates of interest, we
can take over the loan you have availed from them.
Documentation:
Proof of ownership
Ownership paper of property.
Latest 6 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of turnover (Latest Sales / Service tax returns)
Proof of Continuity current business or industries (IT Returns/
Certificate of business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Office (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Qualification Highest Degree (for Professionals / Govt.
employees)
11. Technology Up gradation Fund:
This loan is for technology up gradation for your business. This loan
will help you in your business to make your good reputation in market.
This loan will give you opportunity for modernization of machinery, for
reduction in cost of production, improvement in quality, meeting
challenges of global competition. There is special scheme for textile
industry. You will get rebate on regular payments. In this loan Govt. of
India gives you 5% interest subsidy also.
Purpose:
For Technology upgradation.
Features:
Special scheme for textile industry.
Loan benefit for 5 year only from 1999.
Rebate on regular payments.
Quick response.
5% Govt. of India Interest Subsidy.
Margin 10%.
Cheaper than cheapest interest rate.
Easy and simple process.
Interest charge on actual reducing balance
Rebate on interest as per rules
No Hidden Charges for administrative work
Nominal processing charge
No Prepayment Penalty
No security, collateral or Guarantors required.
Eligibility:
You must be at least 24 years of age when the loan is sanctioned.
The loan must terminate before or when you turn 65 years of age or before
retirement, whichever is earlier.
Any individual in the age group of 21-60 involved in the business for at least
3 years.
Margins:
10% Margin for Technology Up gradation Loan
Interest Rates & Installments as implemented on 1/1/2006
Details Interest Rates
Interest on Technology Up gradation Fund
(Present Interest Rates 13.4% - 5% subsidy)
12.00%
Repayment
Repayment in easy installments spread up to 1 year to more than 3
years also. You may prepay at will with no penalty, or pay more than
your stipulated monthly installment at any time, depending upon
availability of funds with you. This would enable you to pay off your
loan faster and reduce your interest burden. There is No Prepayment
Penalty in Technology Up gradation loan.
Documentation:
Latest 6 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of turnover (Latest Sales / Service tax returns)
Proof of Continuity current business or industries (IT Returns/
Certificate of business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Office (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Qualification Highest Degree (for Professionals / Govt.
employees)
12. Loan against Term Deposit
This loan can be use for any purpose (like medical treatment, Instant
marriage, any instant incident). So, if you have term deposit (like fixed
deposit) in bank then you can have a loan against this deposit. Loan amount
can be decided as per your term deposit. This is for your have term deposit
and that you don’t want to break it. So you get instant liquidity against your
term deposit.
Purpose:
For any purpose.
Features:
Liquidity against term deposit so you need not break it.
Low interest rates
Long term loan up to Maturity of Deposit Receipt
Easy process.
Interest charge on actual reducing balance
Rebate on interest as per rules
No Hidden Charges for administrative work
No processing charge
No Prepayment Penalty
Eligibility:
1. Salaried Individuals
2. Professionals
3. Self Employed Individuals
Margins:
10% Margin for Term Deposit Loan
Interest Rates & Installments as implemented on 1/1/2006
Details Interest Rates
Interest of loan against Term
Deposit
1% more f TDR Rate %
Repayment
Repayment in easy installments spread up to maturity date. You may prepay
at will with no penalty, or pay more than your stipulated monthly installment
at any time, depending upon availability of funds with you. This would
enable you to pay off your loan faster and reduce your interest burden. There
is No Prepayment Penalty in Technology Up gradation loan.
Documentation:
Latest 6 months Bank Statement (where salary/income is credited)
Last 2 years ITR with computation of income/ Certified Financials
Proof of turnover (Latest Sales / Service tax returns)
Proof of Continuity current business or industries (IT Returns/
Certificate of business continuity issued by the bank)
Proof of Identity (any one) Passport / Driving License / Voters ID /
PAN card / Photo Credit Card / Employee ID Card
Proof of Residence (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Office (any one) Lease deed/ Utility bill / Municipal Tax
Receipt / title deed.
Proof of Qualification Highest Degree (for Professionals / Govt.
employees)