| Purpose |
General purpose loan. |
| Eligibility |
Individual(s) over 21 years of age with a steady source of income, who are
- Non-Resident Indian (NRIs) holding a valid Indian Passport and maintaining NRE / FCNR account with us.
- Holding a job for at least one year and having a net monthly income (NMI) equivalent to $1000 USD or net annual income (NAI) equivalent to $12,000 USD.
|
| Amount of Finance |
Minimum of Rs.50,000/- Maximum of Rs.3.00 lacs (six times the NMI) |
| Repayment |
36 EMIs, the repayment of loan may be made by debit to NRI / FCNR / NRO accounts of the non-resident borrowers or out of their inward remittances. No penalty for pre-payment. |
| Processing Charges |
1% of the loan amount |
| Security |
Third party guarantee of a person (including resident) worth the loan amount and acceptable to the Bank. |
