Salaried Employee should be in permanent employment for not less than 2 years in a reputed Company / Govt. / Semi-Govt. organisation.
Professionals should be in profession atleast for a period of 2 years.
Business men should have adequate income from the business and other sources to meet the repayment obligations. Business activity should have generated adequate and consistent income during the previous 2 years besides having good networth.
Co-borrower i.e. close relative like wife, husband, father, mother, sister, brother.
Working Capital finance.
Purchase or repairs of business / residential premises.
Educational, Marriage, Medical expenses.
Investment (other than speculative purposes)
Equitable mortgage of the flat / residential / business premises.
Loan amount :
|Salaried Employee||(60 times of gross monthly income)|
|Professional / Business men||(6 times of net cash accruals / gross taxable income)|
The income of the co-borrower may also be considered for the purpose of assessing the repaying capacity of the borrower.
60 Equated Monthly Installments in case of term loan.
On demand / Annual Review.
On reducing balance method.