Personal Loan
Purpose Of the Loan:
To meet expenses incurred on education, marriage, family celebrations, medical expenses, etc, on individual / family / community.
Eligibility for Loan:
- Regular employees of the Government of India / U.P.
- Permanent Employees of Semi-official/ Self Governing/ Institute/ Educational Institute (Approved by UP/ India Govt).
- Self-employed person or individuals working in private sector has two times the value of real estate such as land / building or has one and a half times the value of the loan amount, term deposit receipts / national savings certificate / Kisan Vikas Patra of the proposed loan has agreed to Bank to let mortgage in favor of those or whose annual income tax returns for the last 3 years, is higher than the loan amount.
- Pensioners/ Retired Officers/ Workers/ of Semi-official/ Self Governing/ Institute/ Educational Institute (Approved by UP/ India Govt) and Retired Officers/ Workers/ of Zila Sahkari Bank Ltd. Kanpur whose age is less than 70 years and has two times the value of real estate such as land / building or has one and a half times the value of the loan amount, term deposit receipts / national savings certificate / Kisan Vikas Patra of the proposed amount of loan and has agreed to Bank to let mortgage in favor of those
Maximum Amount Of Loan:
The maximum amount of the loan will be beneficiary's 15 months salary/ total income or Rs 5.00 Lakh whichever is less.
Term Of Loan:
- The maximum term of the loan will be 60 months (5 years).
- Recovery of loans will be in monthly installments starting by the following month of the month in which the loan is disbursed.
- In 60 equal installments the loan will be recovered with interest.
Interest Rate:
- The loan will be charged at 13.00% rate of interest. The interest rate will be applied till the full payment period. Interest on the loan amount will be charged on a monthly basis and compounded.
- If the amount of the monthly installments are not paid on time, the due installment payment on the amount will be charged at the rate of 2% as penal interest.
** For more information please visit your nearest branch of Zila Sahkari Bank Ltd. Unnao
