Mobile Application for Android Users: Bank has also launched Mobile Application for Android Users.            Ecommerce service on Rupay Card: Bank has started Ecommerce service on Rupay Card. Kindly take benefit of this service...          
E-Channel Support Online Banking

Term Loan For Consumer Durables

  • Home
  • Term Loan For Consumer Durables

Loans

What's New

Eligibility Criteria : 
  • For purchase of Consumer Durables etc.
  • Maximum Loan facility @ 75 % of the purchase cost.
  • Amount of Loan will depend upon the repaying capacity.
  • Personal Guarantee of at least two persons having income / asset expectable to the Bank.
Primary Security : Hypothecation of Consumer Durables.       
Rate of Interest : 13.50 % 
Processing Charges : Nil
Pre-payment Charges : Nil.
Share Money Contribution : 2.5 % of the Limit Sanctioned. 
Tenure For Repayment :    Loan to be repaid in maximum 60 EMI. 
How to apply : 
An application in Bank’s Prescribed Form duly filled up having been affixed with the Photographs of the applicant/s and guarantors along with their signatures to be supported by the papers / documents detailed as under. 
For the Applicant/s.
  • Quotation for the purchase of consumer durables.
  • Income Proof.
  • Copy of I.T. Pan card.
  • Residential Address Proof.
  • Present Bank A/c Statement for the last six months.
  • Statement of A/c for Loan / Advance facility availed from other Bank / F.I.
For the Guarantor/s.
  • Photo I.D.
  • Income Proof.
  • Residential Address Proof.
  • Proof of Residential Property owned in their name.
Note :
Other supportive papers/documents/proofs to be produced, if further needed and asked by the Bank’s Advocate / Valuer / Bank.
* Conditions applied.