Consumer Loan Scheme
SNo | Parameter | Details |
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1 | Name of the scheme | Maha Consumer Loan Scheme |
2 | Purpose: | For purchase of consumer durables including computers/Laptops, Electronic Gadgets etc. |
3 | Eligibility: | Existing Housing Loan Borrowers /Corporate Salary Account holders (Minimum 2 years in employment with 1 year in the current organization) having minimum standing of 1 year relationship with Bank. |
4 | Min. Annual Income | For Corporate Salary Account holders: Rs. 3.00 lakh (last year income) - Minimum past 2 year ITR/Form 16 from the Employer is Mandatory. |
5 | Age Limit |
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6 | Quantum of Finance |
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7 | Margin: |
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8 | Rate of Interest: | Click here to view the Interest Rate
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9 | Repayment | Maximum 60 Months |
10 | Deduction | Not to Exceed 60% of the Gross Income including Proposed EMI |
11 | Processing Charges | 0.50 % of loan amount |
12 | Security | Hypothecation of Consumer goods purchased. |
13 | Guarantor | One guarantor acceptable to the Bank |