UNSECURED TERM LOANS & ADVANCES
Credit facility under this segment shall be sanctioned to the ‘Members’. The loans under this segment shall be personal loans, in nature, sanctioned for the purpose(s) like: -
TERMS & CONDITIONS:-
| Maximum Amount | INR 2,00,000.00 |
| Repayment Period | Maximum 36 EMI. |
| Interest Rate | Please refer “Interest Rates” on this site. |
Credit facility under this segment shall be sanctioned to the ‘Members’. The loans under this segment shall be personal loans, in nature, sanctioned for the purpose(s) like: -
- Business.
- Ceremonial / Religious activities / functions.
- Purchase of Household and other articles.
- Purchase / Minor Repair / Renovation of house and / or business premises etc.
- Education of children.
- Medical expenses.
- Any other purpose – (consumption / personal use)
TERMS & CONDITIONS:-
- A Member shall not be eligible to avail, two unsecured Term Loans, simultaneously.
- The loans shall be sanctioned against the personal surety(ies) and guarantee(s) of other Member(s) of the Bank.
- Past dealings, if any, of the Members with the Bank shall also be taken into account, while considering the proposals for sanction.
- Sanctioning of Loans to Members, over the age of 36 Years shall be at the discretion of the loan sub committee or Board, depending upon the merit of the case / repayment capacity.
- Repayment of loans under this segment shall be in maximum 36 EMIs.
- Any other term(s) and condition(s) may also be specified by the sanctioning authority.
