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Eligibility
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Existing Customers of the Bank
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Purpose
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For purchase of Insurance Policy-Health from our Insurance Partner. [CCIS Scheme Code 421]
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Type of Advance
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Demand Loan / Reducible Overdraft
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Repayment
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Maximum 10 months, commencing from the month following the month of disbursement;
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Quantum of Loan
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80% of the premium(Margin 20%)
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Rate of Interest
w.e.f. 5.7.08
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1.50 % below BPLR, presently 11.75% p.a.
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Minimum / Maximum
(Max: as per Personal Loan scheme)
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Minimum Rs.5000,
(Requirements generally should not exceed Rs. 50,000)
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No. of unsecured loans
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May avail upto two unsecured loans under star personal loan i.e one for normal purpose and one for payment of insurance premia subject to eligibility for combined limit under Star Personal Loan Scheme.
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Loan Renewal
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Loan : fresh loan with fresh documentation can be considered on satisfactory closure of earlier loan account.
Overdraft : Also, Offered as reducible OD facility (for 10 months)for ease of documentation..
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Charges
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Stamp Charges for documents : At acuals .
Loan Agreement Copy Charges – as applicable
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