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Purpose
Medical Expenses for
self or close
relatives
Purchase of consumer
durables (T.V., Fridge, Washing Machine etc.)
Purchase of
Computers, Laptops
and electronics equipments etc.
Travel in India or
abroad by self/with
family
Purchase of
Gold/Ornaments
Purchase of
Furniture & Fixtures
Marriage
Any other purpose
acceptable to the
Bank.
Loans up to
Rs.50,000/- can be
disbursed merely upon an undertaking from the
borrower about its end use.
Eligibility
Salaried person:
• Persons having
permanent/confirmed service.
• Salary Certificate and
Salary slips of last 3
months, Form No.16 for last
2/3 years, copies of
Income Tax Returns for last two years with its enclosures (if
applicable), Last one year’s
Bank Statement of all accounts with other Banks.
Other than salaried
Income Tax Returns filed
in every year and not in
bunch for last two/three
years.
Last one year’s Bank Statement of all accounts with other Banks.
Maximum Limit: 10 times of
Net Pay.
Quantum of Finance
The monthly net salary after
deduction of proposed loan
installment should not be
less
than 25% of gross salary.
Rs.2,00,000/- (Secured)
Upto Rs.50,000/- (clean)
Security
Demand Promissory Note
Letter of lien and set off.
Agreement for Loan.
Hypothecation of consumer
durable /equipment/
instrument for secured loan.
(For Loan Above Rs.50,000/-)
Agreement for Loan.
Guarantee Agreement.
Letter of
appropriation/Pledge in case
of FDR/NSCs/LIC/Govt. Bonds
offered as collaterals
if any. FDR/NSCs to be duly discharged. Relative forms for
registering lien on NSCs/LIC/
Bonds
to be obtained. Lien to be marked on FDR/registered with appropriate
authorities.
Undertaking under section 49
of M.S.C. Act, 1960 from
salaried borrower/guarantor
in case
of salaried employees, post dated cheques to be obtained.
Letter of undertaking for
enduse of funds, creation of
securities etc.
Repayment
Maximum 48 Months. (PDCs or
salary deduction)
Return of PDC will attract
penalty of Rs.250/- per
instrument per incident
Guarantors
One
Common Documents
Attested photocopy of PAN
card / Passport / Driving
License.
Attested photocopy of Ration
Card /Electricity bill /
Telephone bill
Latest Salary Slip and Form
No. 16 in case of salaried
persons
Audited Balance sheet /
Profit & Loss statement for
last 3 years in respect of
firm/company
Income Tax returns, with
computation of total income
for last 3 years in case of
professionals and self-employed persons
Net Worth Form of borrower
and guarantors
Copy of Bank statement (at
least six months)
Latest passport size
photographs
Documents
Verification Report of the
borrower’s residence and
Verification Report of visit
to guarantor
residence giving observations about the household articles to be
submitted by
Branch Officials/Authorized Verification Agency.
Verification Report of the
employment details of the
borrower and guarantors
giving observations about the correctness to be submitted by Authorized
Verification
Agency.
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Jan – Adhar Personal
Loans
