Eligibility |
- Salaried individuals in permanent employment
- Professionals & self employed persons
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Sanction Limit |
- Loan Upto Rs.1.00 lakhs-100% of invoice value of items to be purchased
- Loan Above Rs.1.00 lakh and below Rs.2.00 lakhs-85% of invoice value to be purchased.
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Repayment
period |
- 3 years
- 4 years for staff of institutions banking with us
- No pre-payment penalty
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Rate of interest |
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Security |
- Asset/s being financed/purchased to be hypothecated (where applicable)
- Cheques from Business and Salary Accounts to be held on record.
- Surety of two individuals acceptable to the bank
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Documents
Required |
- Proof of Residence - Aadhar Card Card/Driving license/ Passport/ Electricity Bill/ Telephone Bill
- Proof of Income – Latest Salary Slip or Last 3 years
- Balance Sheets/ Income Tax Returns
- Proforma Invoices of the articles to be purchased
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