| Purpose |
General purpose loan |
| Eligibility |
All serving teachers of Central / State
government / Educational institutions and also teachers
of Government recognised / and private educational institutions |
| Minimum Income |
Net monthly income of Rs.3000/- |
| Loan amount |
Minimum : Rs.24,000/-
Maximum: 18 months net monthly income, net of all deductions
or Rs. 3.00 lacs whichever is lower. |
| Security |
Check off facility |
| Repayment |
Maximum of 72 months through EMI
No penalty for pre-payment
Where check-off facility is not available standing instructions
or post dated cheques may be accepted along with 3rd party
guarantee of another teacher |
| Processing Fee |
1.10% of the loan amount |
| Required documents |
1. Proof of identity
2. Proof of residence
3. Pass port size photographs
4. Latest salary slip |