| Eligibility of borrower |
- Any Individual, Proprietorship firm, Partnership firm, Pvt. Ltd. Company, LLP firm [ Except HUF, AOP ] having saving / current account with our Bank complied with the norms of KYC.
- Must have Fixed Deposits in his own name.
- Must be a regular / nominal member of the Bank.
|
| Proof of Business in case of firm |
- PAN card, IE Code ,SSI certificate, Shop Establishment License, VAT / TIN / GST No., Udhyog Aadhar, [ Any 2 ]
- Copy of license applicable as per nature of business.
- Notarized partnership deed and firm registration certificate issued by registrar of firms is compulsory in case of a partnership firm.
|
| Purpose of Loan |
- Personal need / Business development / Working capital etc.
|
| Quantum of finance |
- Up to 90% of own fixed deposits with accrued interest.
|
| Share Linkage |
- Borrower must have Bank share linkage @ 1% of the loan sanction amount.
|
| Repayment period |
- Review once in 6 Months and renewal in 12 Months
|
| Rate of Interest |
FD Rate + 1% |
| Security |
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