Who is eligible

• Salaried person 
  ( Should  have permanent employment for last 2 years  
  
  
• Professional
  ( Should have been in the profession for the last 2 years ) 
  
  
• Businessman 
  ( Should be in business for the last 2 years and generate adequate and consistent income and good net worth )

Security

• Main            : Pledge of  NSC / KVP/ RBI Bonds/LIC Policy  
  
  
• Guarantors  : 1 or 2 persons acceptable to the Bank.

Margin

•  25% of the paid up  value of the security with  2 guarantors 
  
  
• 50% of the paid up value of the security without  guarantor
  ( only for NSC)
  
  
• 50% of the paid up value of security with 1 guarantor

Rate of Interest 

• Against Govt Securities.( NSC's Relief Bonds, KVP's etc) and Life Policies –11.50 %
  
  
• Against Bonds of financial institutions – 13 %
  
  
• Against units of  mutual funds  -16 %    

Special Features

• Wife /husband/parents/Brother/ sister can be co applicants income of the co applicant will be considered for assessing repayment capacity
  
  
• Interest calculated on daily reducing balance
  
  
• No prepayment/commitment  charge levied unless the Liability is taken over by another financial institution

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