Loan 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:
For Working women
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.
Non working women
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:
24 to 36 months EMI.
Rate of Interest:
11.00 % per annum.
Processing Charges:
0.50 % of loan amount.
Pre-Closer 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.
