Eligibility

Salaried employees/ Professionals/Self-employed /People engaged in business/Individuals with high net worth/Agriculturists/Pensioners/Staff members

Type of Advance

Demand Loan (reducible as per repayment schedule)

Quantum of advance

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.

Purpose

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.

Margin

No specific margin. Loan amount not to exceed proposed expenditure/requirement.

Repayment

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.

Rate of Interest
w.e.f. 28.07.11

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 3.00% aboveBase Rate, at present 13.75% 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) : 3.50% above Base Rate,14.25% p.a. at monthly rests.

3. Clean/Unsecured Advances: 4.25% above Base Rate at present 15.00% 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/- : @ 3.00%above Base Rate,  13.75% p.a. at monthly rests..

Processing Charges

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)

Tie-up arrangement

Low/concessional rate of interest and at other concessional terms like waiver of processing charges, Nil margin etc.