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 Star Holiday Loan Scheme
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Eligibility
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Salaried employees/ Professionals/Self-employed /People engaged in business/Individuals with high net worth/Agriculturists/Pensioners/Staff members
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Type of Advance
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Demand Loan (reducible as per repayment schedule)
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Quantum of advance
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Max. Rs.2.00 lacs (clean)
Max. Rs.5.00 lacs (in case liquid collateral security is offered like TDRs, NSCs,IVPs, KVPs, LIC Policy (Surrender Value) etc. atleast equal to 50% of loan amount sanctioned)
Rs. 10.00 lacs (In case liquid collateral security is offered like TDRs, NSCs,IVPs, KVPs, LIC Policy (Surrender Value) etc. atleast equal to 100% of loan amount sanctioned)
Pensioners : Max. Rs.1.00 lac
Minimum size of loan :-
At Metro and Urban Centres : Rs.10,000/-
At Rural and Semi Urban centres: No minimum size of loan.
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Purpose
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To meet the expenses (like airfare/Train/Bus charges, expenses for accommodation, sight seeing, etc.) for going for pilgrimage/tours/excursions etc. undertaken/to be undertaken by Self/spouse/children/ parents/family members/close relatives of proponent within India or abroad.
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Margin
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No specific margin. Loan amount not to exceed proposed expenditure/requirement.
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Repayment
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Maximum in 24 EMIs (Equated monthly instalments) w.e.f one month after first disbursement from loan account. In special/exceptional case, upto 36 EMIs.
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Rate of Interest
w.e.f. 01.04.09
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1. Fully Secured Advances: (Where liquid collateral security is offered like TDRs,NSCs,IVPs, KVPs, LIC Policy (surrender value) etc. atleast equal to 100% of loan amount sanctioned sanctioned 1% below BPLR, at present 11.00% p.a. at monthly rests.
2. Partly Secured Advances: (Where liquid collateral security is offered like TDRs, IVPs,KVPs,NSCs, LIC Policy (surrender value) etc. atleast equal to 50% of loan amount sanctioned) :0.50% below BPLR, 11.50% p.a. at monthly rests.
3. Clean/Unsecured Advances: 0.25% over BPLR at present 12.25% p.a. at monthly rests.
4. For senior citizens /pensioners (where pension payment is through an a/c with the branch disbursing the loan and EMI will be recovered out of pension amount): For loan amount upto Rs.50,000/- : @ 1.25% below BPLR, Min. 10.75% p.a. at monthly rests..
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Processing Charges
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One time @ 1.10% of the loan amount. minimum Rs. 1000/-, Maximum Rs.5000/-. Pensioners : One time @ Rs. 1.10% of loan amount Min. Rs.500/- Maximum Rs 1100/-
No processing charges for Senior Citizens (60 years & above)
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Tie-up arrangement
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Low/concessional rate of interest and at other concessional terms like waiver of processing charges, Nil margin etc.
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Terms and conditions apply. Loan at the sole discretion of Bank of India.
For further information, you may contact nearest Branch of the Bank.
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