Consumer Loan Scheme
Name of the scheme
Maha Consumer Loan Scheme
For purchase of consumer durables including computers/Laptops, Electronic Gadgets etc.
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.
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.
Quantum of Finance
Rate of Interest:
Maximum 60 Months
Not to Exceed 60% of the Gross Income including Proposed EMI
0.50 % of loan amount
Hypothecation of Consumer goods purchased.
One guarantor acceptable to the Bank