An ideal product handy to individuals/business enterprises/professionals and self-employed as a source of funds for expenditures of any nature provided they have a minimum service/standing of three years.

Minimum net annual income should be  1.00 lacs.

30 times net monthly income or  100.00 lacs whichever is lower.

Term Loan

 100.00 lacs

(In case of individual borrowers, the income of the spouse can be taken into consideration for determining the loan amount. In such cases, the facility would be allowed in the joint names.)

Mortgage of the unencumbered residential house/flat, commercial or Industrial property with a clear marketable title in the name and possession of borrower/proprietor or partner/s/Director/s either self occupied or vacant with a security cover of 1.5 times the amount of loan.

The loan granted under the scheme together with interest thereon would be repayable within a maximum period of 84 months through (EMI’s) commencing one month after disbursement of the loan. The repayment shall have to be fixed on a realistic basis so that the loan deductions including EMI for the loan granted under this scheme do not exceed 60% of the borrower’s gross income.