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 :
|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||
|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.
|Documents to be submitted by the applicant||
|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.
|CIBIL/EXPERIAN||CIBIL/EXPERIAN reports mandatory and CIBIL maximum score should be 700.|
|Takeover of Liability
|Generally not permitted.|
|ANY OTHER DETAILS, PLEASE CONTACT NEAREST BRANCH.|
( Last modified on Jul 24, 2020 at 07:07:06 PM )