Objective: The main purpose of the this scheme is to finance the modern household goods like T.v Refrigerator. Video, Washing Machine, scooter, car, A.C or any kind of Furniture.
Eligibility: This loan is for Govt/Non-Govt./Public/Private sector undertaking/corporation employees who is a confirm employee from min of last 5 yrs.
75% of value of the goods
Min loan amount: 10,000 /-
Max. Loan amount: 3.0 Lac’s
Interest: 16.40% per annum.
1.Cheque of Facility from Employer
2.Third Party Guarantee which is acceptable to Bank
3.Charge on all the items purchase by Loan amount.
4.For loans above 25,000/- eq.mortagaged property will also be obtained.
Repayment: 30-60 equated monthly installments, extendable up to 84 months in deserving cases.