IB Clean Loan (to Salaried Class)
Eligibility | Permanent Employees with minimum service/ experience of TWO years with Govt./Quasi -Govt./ Boards/ Endowments/ reputed companies/ Corporate Industrial Establishments etc.
Reputed Private Sectors :
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Purpose | For meeting Marriage/Educational and medical expenses, to celebrate family functions and for other household expenses. However, utilization of loan proceeds for speculative purposes is expressly prohibited. | |||||||||||
Age | Minimum Entry Age 21 years | |||||||||||
Quantum of Loan |
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Margin | Nil | |||||||||||
Interest Rates | As Communicated by CO from time to time | |||||||||||
Processing fee | Processing charge as communicated by corporate office from time to time will be applicable | |||||||||||
Repayment | Maximum up to 84 months subject to closure of the loan 3 months prior to superannuation | |||||||||||
Type of Institution / Organization to be considered for IBCLS | 1. PSU, Central and State Govt. Departments, large Corporate/ MNCs (having turnover of above Rs.100.00 crore).
2. Existing Reputed institutions/ companies having Current Account / OCC/ OD facility with us, with good track record, timely payment of salary to their employees, statutory deductions like EPF, tax etc. subject to obtention of approval from ZLCC. |
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Documents to be submitted by the applicant |
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Guarantee | Guarantee of spouse (wherever applicable) & another employee | |||||||||||
OD facility | This is permitted on a case to case basis and in such cases 1 & additional interest shall be charged.
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CIBIL/EXPERIAN | CIBIL/EXPERIAN reports mandatory and CIBIL maximum score should be 700. | |||||||||||
Takeover of Liability
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Generally not permitted. | |||||||||||
ANY OTHER DETAILS, PLEASE CONTACT NEAREST BRANCH. |
( Last modified on Jul 24, 2020 at 07:07:06 PM )