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Purpose
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Purchase of Consumer durables. Consumer durables include all electrical and electronics, wooden and metal furniture etc.
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Eligibility
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Individuals with regular income and self-employed persons whose income is above Rs 5000/- per month. Income includes Spouse income.
Max age before liquidation of loan is 60 years.
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Quantum of Loan
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10 times the gross monthly salary of the applicant or 90% of the cost of the article/s whichever is less. Max. Rs. 5 lakhs Income of spouse can be taken while Arriving at loan amount
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Margin
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10 % on the cost of the article/s to be purchased
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Repayment
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Maximum Repayable is 60 equated monthly instalments without holiday period.
No Prepayment charges
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Security
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Hypothecation of the article purchased out of the loan. Recovery
undertaking or salary routing or A suitable third party guarantee should also be provided.
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Processing Charges
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As applicable from time to time. Click here for current Service Charges
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