What is the maximum period by which the loan is to be repaid?
The repayment period is fixed taking into account, the income generated and profit projected, to be derived out of the proposed activity. Normally the repayment period is 5 to 7 years.
What security do I need to provide?
The prime security of hypothecation of medical equipment, vehicle etc., and mortgage of immovable property acquired out of the loan. For loans upto Rs.2 lac there is no collateral security. For loans above Rs.2 lacs, collateral security in the form of immovable properties, NSC, LIC policies etc having adequate value covering 100% of the loan is to be offered.
Are there any other charges, payable for the loan?
A one time processing charges of 0.50% of the loan amount with a minimum of Rs.500/- and a maximum of Rs.5,000/- is payable.
While all efforts have been made to update the information, constituents are requested to contact the branches for latest details.