Loan Schemes

  1. Schemes
  2. Loan Schemes

Festival Advance for General Public Loan Application Form

1. Purpose & Eligibility:

To provide personal finance for festival celebrations.

  • a) Permanent Employees of State/ Central Government, Government/ Semi-Government Undertakings & Autonomous Bodies drawing salary from our Bank/ Sponsor Bank.
  • b) Professionals like Doctors (MBBS/ BDS, etc.), Engineers/ Architects, CAs, MBAs, ICWAs and Lawyers with minimum standing of 3 years and having minimum one year satisfactory dealings with our bank.
  • c) Businessmen / Traders with minimum standing of 3 years & having minimum one year satisfactory dealings with our bank.
  • d) All pensioners of Central/State Government/Public Sector Undertakings, Autonomous Bodies drawing pension from Bank's own branches.

2. Age of the applicant:

  • a. Minimum age of Applicant: 18 years.
  • b. Maximum age of Applicant: For Permanent Employees of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies drawing salary from our Bank/ Sponsor Bank. 1 year less than the age of retirement i.e. 59 years where retirement is 60 years and 57 years where retirement age is 58 years.
    ii) For others: 65 years.

3. Quantum of Loan:

Minimum Loan: Rs. 5,000/-.
Maximum Finance: Average of previous three months salary or pension/ average monthly income; or Rs. 40,000/- whichever is lower.


4. Repayment Capacity:

Stipulation of minimum home take salary of 40% may not be insisted for this loan scheme, however, the EMI payable in this loan scheme shall be added to deduction for granting loan(s) under other schemes of the bank.


5. Margin:

Nil.


6. Security:

Nil.


7. Processing charges:

Nil


8. Repayment:

10 Equated Monthly Installments starting one month after disbursement.

* Conditions Apply