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Purpose
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General
purpose loan for individuals
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|
Eligibility
|
a)
Any Resident Indian National having capability to repay
b)
Should be 60 years of age or less
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|
Minimum
Income
|
NMI
should be at least Rs.5000/ after all deductions for salaried
and NAI Rs.60000/ for others (latest IT return to be
submitted)
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Loan
Amount
|
Minimum
: Rs.24000/-
in Metro / Urban centers
Rs.10000/- in Rural / Semi Urban centers
Maximum
: 12
NMI for salaried persons
One NAI for others
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Security
|
Check
off facility
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Interest
Rates
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For
salaried persons with tie-up arrangement –
14%
For
others If credit scoring is 60 and above
– 14%
If
credit scoring is 50 to 60
-- 15.50%
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Processing
Fee
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1.10%
of the loan amount
|
|
Repayment
Period
|
EMIs
from 6 to 48 months as per borrower’s choice
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Payment
Charges
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1%
if the loan is prepaid before 6 months
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Disbursement
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By
credit to borrower’s account.
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