| 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. [b] Have been holding a job for atleast one year and having a net monthly income [NMI] equivalent to US $ 1000 or net annual income [NAI] equivalent to US $ 12,000. |
| 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. |
| Proc. Charges |
1% of the loan amount |
| Security |
Third party guarantee of a person [including resident] worth the loan amount and acceptable to the Bank. |
