Loans
Personal Loans
New India Bank offers personal loans to salaried persons and self employed professionals. Financing your personal expenditure has never been as easy as it is today.
Eligibility :
- Salaried people should be in permanent employment for the past three years, with minimum 3 years of service.
- Professional/Self employed Persons who have been working for a minimum period of two years are eligible for personal loans.
Loan amount eligible :
- Salaried person 30 times of net salary, subject to maximum of Rs 500,000
- Self Employed /Professional 2 times the net taxable income, subject to maximum of Rs 500,000
Guarantors
2 Guarantors of Good means
Repayment Period :
- Not more than 60 EMI's
Interest :
- On reducing balance method.
Share Linkage :
- Applicant to be Regular member and Guarantors to become nominal members by paying Rs.100/- only.
Special Features :
- Interest calculated on daily reducing balance.
- No prepayment/commitment charge levied unless the Liability is taken over by another financial institution.