Personal Loan

Let it be marriage expenses of your children, any urgent medical cost, expenses for holidays to abroad, education expenses and so on. Any urgent needs of money can be fulfilled with the help of personal loan. Suvarnayug Bank provides personal loan to fulfill immediate need of funds.

Who can apply? :

  Individual/s, Salaried Employees.
  Businessmen, Self-employed.
  Professionals having regular source of income or Business entities.

Purpose :

  Consumption Purpose
  House Repairs / Renovations / Consumer Durables
  Education of Children
  Any Valid reason which is not illegal/immoral.

Maximum Limit :

  For Salaried persons and Professionals Rs. 5, 00,000/- subject to the repaying capacity
  In case of Consumer Durable (T.V., Refrigerators, Computers, Scooters, Motorcycles Etc.) 90% of the Computer value subject to the repaying capacity.
  For Nominal Members Limit up to Rs. 1 Lacks.

Repayment :

  84 monthly installments-EMI in case of salaried persons/Professionals.
  60 monthly installments-reducing balance in case of Consumer Durable Purchase.
  60 monthly installments-reducing balance for others.

Securities :

  Minimum two Sureties out of which one should be an income tax payer
  The Borrower and all the sureties should be Regular/Nominal members of the Bank.
  For Professional, they must be an income tax payers.
  Collateral security if any.
  NSC/LIC/FD/Gold can be taken as Security and repaying capacity.

Documents Required :

  Loan application.
  Residential proof of Applicant and sureties.
  Income proof of Applicant and surety.
  Bank Account statement for 6 months showing credit of salary.
  In case of consumption purpose then quotation is required.
  In case of house repairs/renovations estimate of total expenditure is required.
  Undertaking from the employer to remit loan installments /salary directly to the bank.
  Any other document required by bank.