Purpose
It is a simple personal loan to meet any genuine need of finance.

Maximum Loan Amount
Rs.2,00,000/- (Individual).

Tenure
36 To 60 months (Individual)
 

List Of Documents Required

• Salary Slip for the last 3 months
• Form No. 16 for last 3 years OR Income Tax Returns for last 3 years
• Bank Statement of Salary Account for the last 6 months
• Employer’s Certificate for period of service with details of designation etc. (Minimum 1 year permanent employment)
• Photograph and address proof and Identity Proof
• Details of the collateral security (in case salary deduction sec 49 of MCS Act,1960 is not available) - only of the applicant
• Two guarantors /sureties.
• LIC Policies.

Security
a) Personal Surety –
i)  Two Personal Guarantor..
ii) Additional Guarantor of the spouse (if married) OR father / mother (if unmarried).

b) Security
i.) Hypothecation of valuable items such as Television, Computer, Car, Refrigerator, Music System etc upto 100 % of the loan amount incase salary deduction incase of salary deduction Usec 49 of MCS Act,1960 or Salary credit by way of ECS.
ii.) In all other cases-100% by way of Pledge of tangible securities viz NSC,KVP,LIC etc /mortgae of immoveable property

Interest Calculation
Daily Reducing Balance

Share Holding
5% shares of the loan amount by the applicant (regular membership) and the guarantors to become nominal member