Personal Loan Information

Purpose and applicant criteria

Personal loan may be used for any purpose other than speculation. Applications are considered individually. Co-applicants are not allowed. NRI/PIO applicants are not eligible. Bank staff members are not eligible under the cited scheme. Eligibility for employees of proprietorship and partnership firms is discontinued with effect from 10 February 2022.

Groups and account relationship

Group A: Eligible private/public limited company employees, trust/LLP/registered society employees, insurance agents, eligible self-employed professionals and businesspersons with satisfactory account relationship with another bank for at least 6 months.

Group B: Similar eligible applicant classes with satisfactory account relationship with our Bank for at least 6 months.

Group C Gold: Employees of Central/State Government, PSUs, autonomous bodies, qualifying externally rated A-and-above listed public limited companies, joint-sector undertakings and reputed educational institutions; salary account with our Bank and last month's salary credited to the Bank.

Group C Silver: Eligible employees of the listed qualifying institutions with salary account at another bank.

Age and minimum income

Minimum age: 21 years. Salaried applicant's age plus repayment period must not exceed retirement age or 60 years, whichever is lower. Non-salaried applicant's age plus repayment period must not exceed 65 years.

Groups A and B: salaried minimum gross monthly income ₹35,000, based on average of last 3 months. Non-salaried minimum gross annual income ₹4 lakh, based on average of last 2 years. Group C Silver: minimum gross monthly income ₹35,000, based on average of last 3 months.

Loan amount and repayment period

Maximum limits: Group A ₹2 lakh; Group B ₹15 lakh; Group C Silver ₹15 lakh; Group C Gold ₹20 lakh. Minimum loan: ₹1 lakh in Metro/Urban locations and ₹50,000 in Semi-urban/Rural locations. Maximum repayment: A 48 EMIs, B 60 EMIs, C Silver 72 EMIs, C Gold 84 EMIs.

Repayment capacity (FOIR)

Groups A and B: Group A (other-bank relationship): GMI below ₹75,000 = 40%; ₹75,000 to below ₹2 lakh = 50%; ₹2 lakh and above = 60%. Group B (our-bank relationship): below ₹75,000 = 50%; ₹75,000 to below ₹2 lakh = 60%; ₹2 lakh and above = 70%.

Group C Gold: 75% of GMI. Group C Silver: GMI ₹35,000–₹50,000 = 50%; above ₹50,000 to ₹1 lakh = 65%; above ₹1 lakh = 70%.

For salaried applicants, average of last 3 months' GMI is used. For non-salaried applicants, last year's gross annual income divided by 12 is used for FOIR. Existing deductions are taken from latest month's salary or last financial year's income, as applicable.

Documents

• Passport-size photograph.
• Identity proof: employer photo ID, voter ID, passport, driving licence, PAN or Aadhaar.
• Address proof: electricity bill, landline telephone bill, voter ID, passport, Aadhaar or driving licence.
• Salaried: last 3 months' salary slips, last 6 months' bank statement, Form 16/ITR for last year.
• Self-employed/professionals: office/shop address proof, ITR and financial statements for last 2 years, professional registration/licence and qualification proof where applicable, last 6 months' bank statement.

Application journey

1. Confirm scheme group, eligibility, service/business continuity and account relationship.
2. Prepare KYC, address, income and banking documents.
3. Submit application and supporting records to the branch.
4. Bank verifies eligibility, income, obligations, account conduct and repayment capacity.
5. Sanction terms are communicated; review amount, rate, tenure and repayment obligations.
6. Complete documentation and NACH/ECS mandate where applicable before disbursement.
7. Loan is disbursed; repay through scheduled EMIs and request closure confirmation after full repayment.

Scheme parameters transcribed from the supplied personal-loan product-profile materials. Interest rate is user-entered because no rate table was supplied. Final sanction remains subject to the bank's applicable circulars and assessment.