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| Clean Loans |
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 Nature of the Scheme |
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| Cash loan to Individuals |
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| Purpose |
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To meet any genuine credit requirement of the borrower for personal purposes.
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| Quantum of Finance |
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- Take Home pay : After all deductions including the repayment instalment for the proposed loan shall not be less than 40% of gross salary.
For Non Salaried Persons : 2 times average annual proven income (Annual income as average of last three years income shown in IT returns/ assessment orders).
For Pensioners: 8 times of monthly pension. Cap for pensioners is Rs. 5,00,000/- . Maximum age 75 years.
For LIC Agents :
- For those who are income tax assesses: Two times of average renewal commission for the previous three years, subject to a maximum of Rs. 2,00,000/-
- For those who are not income tax assesses: 50% of average renewal commission basing on a statement of income for the previous three years, subject to a maximum of Rs. 2,00,000/-
- Maximum age : 55 years
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Maximum 60 months monthly instalments. (EMI)
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 Rate of interest |
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| Loan Period |
For State and Central Government employees, Public sector under takings who are drawing salary through our Branches and Pensioners |
For others |
| Upto 36 months |
RLLR+ 3.00% |
RLLR + 3.50% |
| Above 36 months to 60 months |
RLLR + 3.25% |
RLLR + 4.50% |
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| Prepayment Charges |
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No prepayment charges.
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| Co-obligation |
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A good third party acceptable to the Bank
Nominee/family pensioner in case of pensioners.
In case of LIC agents – Spouse or one of the family members and 1 LIC agent.
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