NATURE OF FACILITY
- TERM LOAN.
- To provide finance for purchase of Laptop/ PCs / Netbooks / Tablets.
- Permanent Employees, Contractual employees, Professionals, Self-employed Individuals, Proprietorship concerns, Teachers under Rehaber-a-Taleem J&K Govt., Officials under Rehaber-a Zeerat , J&K Govt., Pensioners drawing their monthly pension through our bank.
- Employees of Private Limited Companies, Private Organizations, Reputed Establishments.
- Regular students of recognized schools, colleges & universities.
- Regular teachers of recognized private schools (must be permanent residents of Union Territories of J&K and Ladakh).
AGE OF THE APPLICANT
- Minimum age: 18 years.
- Maximum age at loan maturity: For employees Date of retirement or 60 Years whichever is earlier.
- For others: 70 years.
QUANTUM OF FINANCE
- Maximum of Rs.1,50,000/=.
- NIL for loans up to Rs. 50000/-
- Hypothecation of Laptop/PC/Netbook/ be purchased, if loan amount is above Rs. 50,000.00
- Nil for:
- Government employees drawing salary through our Branches & where letter of confirmation is available.
- Platinum / Gold / Premium plus Current account holders, having maintained satisfactory accounts for at least last 6 months.
- Cash Credit / SOD account holders having a sanctioned limit above Rs 5 lacs and minimum average utilization percentage above 60% from at least 6 months prior to this facility.
- Customers having Fixed Deposit accounts of value more than Rs. 5 Lakh in the Business unit sanctioning the facility. The deposit should be more than 3 months old at the time of disbursement of the loan.
- Third Party Guarantee of one person for all other categories.
RATE OF INTEREST (SUBJECT TO CHANGE)
- 3 year MCLR plus 2.50%, fixed.
- 12 to 48 months in equated monthly installments.
- No Pre-payment Charges