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To meet personal expenses such as marriage, purchase of consumer durables, travel, holiday etc. of women professional.
Salaried and non-salaried Income Tax assessee women engaged in following professions and having annual Salary /Income of Rs.5.00 lakh & above are eligible under the scheme:
Women Professionals in fields of –
Note:
Loan will be sanctioned as Term Loan only
The maximum quantum of loan per individual is Rs.50.00 lakh subject to repayment capacity.
Sr. No.
Quantum of loan
CIBIL Score
Rate of Interest
(Salaried)
(Non-Salaried)
1.
Up to Rs.50.00 lakh
700 & above
EBLR + 2.10%
EBLR + 3.00%
Below 700
EBLR + 2.25%
EBLR + 3.25%
Sr.No.
Charges
Details
12.1.
Processing charges
NIL
12.2
Overdue Charges
In case of Default/Delayed payment, penal charges should be recovered @ 2% p.a on the overdue amount for the period of default
12.3.
Prepayment penalty
There is no prepayment penalty if the loan is adjusted by the borrower from his/her own verifiable legitimate sources.
The maximum repayment period will be 7 years (84 months) subject to the condition that repayment should be co-terminus with retirement.
No moratorium period is allowed. The repayment should commence from succeeding month of first disbursement of loan.
OR
Insurance is mandatory under the scheme. Insurance Premium may be included in quantum of finance.
**Contact our nearest Branch for more details**