Area of Operation - Loan shall be advanced in the area operation in the Gurdaspur district.
Beneficiary |
Individuals practicing as professionals such as doctors, advocate, chartered engineers, chartered accountants, company secretary, architects, I.T. professionals, interior designer, academicians running coaching centres. |
Purpose |
Credit facility for meeting out socio-economic needs. |
Loan Limit |
15 times of monthly gross salary or RS. 6.00 lakh, whichever is less. |
Rate of Interest |
13.75% |
Prepayment Option |
Borrower can make the part prepayment of the loan. No penalty will be charged. |
Repayment Period |
Maximum 7 years. |
Collateral Security |
The valuation of the collateral security shall be 150% to the loan amount. In addition to that one guarantor known to the bank will also be taken. |