Laon sanctioned to women to meet their genuine personal needs like buying household articles, gifts and jewellery. Purpose:
- To meet genuine personal needs like buying household articles, gifts, jewellery other than speculative purposes.
Eligibility:
- Women between 18 and 55 years both existing & new customers.
- Married or single.
- Working or non working women.
- Defaulters under any scheme are not eligible.
Quantum:
- 10 months Gross (OR) Rs.1,00,000/-, whichever is less.
- Minimum take home salary to be 40% of gross salary.
- If an business, gross annual income not less than Rs.1.50 lakhs.
- Max. Rs.50,000/- IT Payee.
- Gross income of family not less than Rs.1.00 lakhs.
- Higher amount can be considered with co-obligation of husband/parent.
- She can be entrepreneur, running beauty parlor, Nursery women, bonsai, boutique.
- In case the income from rent, in such cases the property must be in the name of borrower.
Security:
- No collateral to be insisted.
- In case of non working women if loan amount is above Rs.25,000/- up to Rs.50,000/-, co-obligation of husband/parent to be obtained.
Repayment:
Rate of Interest:
Processing Charges: - 1.00% on outstanding balance.
Documentation:
- Application Pronote/Pronote covering letter.
- Photograph of the borrower/co-obligant.
- Salary certificate/ITAO.
- Proof of address, proof of income.
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