Consumer Durable loans
Consumer durable loans are granted upto a maximum loan limit of Rs.50,000/-.
a) Eligibility: Any person with assured monthly Income and acceptable by the Bank.
b) Security: 2 personal security and hypothecation of purchased items is necessary a long with proper documentation.
c) Margin: 75% loan and 25% margin is to be maintained under this loan facility.
d) Membership is necessary for the borrower and surities to await this loan.
e) Authority of sanctioning of the loan is Executive Committee or any officers authorised by the Board of Management.