V Equip

                                                V- EQUIP

1

Purpose

For purchase of i) Consumer durables (home appliances) ii)  Equipments required for professional and self employed persons.

2

Eligibility

 

Salaried persons aged between 21-60 years, pensioners and professional. Self employed persons aged less than 70 years.

3

Nature of facility

Term Loan

4

Quantum of Loan minimum/maximum.

 

  • Salaried class: 100% of invoice value subject to maximum Rs.3.0 lakhs.
  • Pensioners: 100% of invoice value subject to max. Rs.1.50 lakhs.
  • Non-salaried persons: 90% of invoice value subject to max. Rs.2.0 lakhs.

5

Margin

As above

6

Rate of interest

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7

Guarantor

Guarantee of spouse and third party guarantee acceptable to Bank.

8

Security

Hypothecation of the asset created out of Bank finance.

9

Processing fees/other charges

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10

Repayment

For salaried class max.60 EMI.

Non-salaried class: 5 years in monthly/quarterly/half yearly/yearly based on income generation.

11

Application with checklist

 

Click Here to Download the Application Form/Check List

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