MAHA BANK PERSONAL LOAN SCHEME- for Business Class having Home Loan with us
Particulars | Scheme guidelines | |||||||||||||||||||
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1 | Name of the scheme | MAHA BANK PERSONAL LOAN SCHEME- for Business Class having Home Loan with us. | ||||||||||||||||||
2 | Type of Facility | Term Loan | ||||||||||||||||||
3 | Purpose of loan | To cater to the requirements of meeting personal expenses. | ||||||||||||||||||
4 | Eligibility | For existing Home Loan applicant to avail the Personal he/ she should have a satisfactory track record of repayment of Home loan EMI up to 6 months and there should not be any overdue in the Home Loan A/c. i.e. the account should not have been classified under SMA category during the last 6 months’ period. | ||||||||||||||||||
5 | Age Limit |
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6 | Min Annual Income | Minimum annual Income – 3.00 Lakhs. Minimum past 2 year ITR/Form 16 is Mandatory from current employer. | ||||||||||||||||||
7 | Maximum Quantum of Finance | Rs 20.00 Lakhs. | ||||||||||||||||||
8 | Margin | Nil | ||||||||||||||||||
9 | Repayment Period | 84 months | ||||||||||||||||||
10 | Rate of Interest |
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11 | Deduction | 65% of Gross Annual Income of last year including Proposed EMI. | ||||||||||||||||||
12 | Security | Nil (Clean Loan) | ||||||||||||||||||
13 | Guarantor | Not required | ||||||||||||||||||
14 | Processing Fee | 1.00 % of the loan amount + GST (Min: Rs 1000/-) | ||||||||||||||||||
15 | Documentation charge | 0.20% of the loan amount + GST |