Details of Loan Schemes | TSCAB
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Loans, Savings

Details of Loan Schemes

Personal Loans:

  • For Employees/Professionals/Businessmen.
  • Maximum Rs.5,00,000/- loan amount.
  • Rate of interest – 14.00% p.a.
  • Maximum repayment period: 48 months.
  • Sureties 1 or 2 required depending on quantum of loan.

 

Educational Loans:

  • For pursuing School/ College/Higher education in India and Abroad..
  • For College education in India – Rs.50, 000/- to Rs. 4, 00, 000/-.
  • For Technical/professional/specialized post graduation – maximum of RS. 10.00 lakhs for studies in india.
  • For College education in Abroad upto Rs.20, 00, 000/-.
  • collateral security to the extent of 75%” as 100% loan amount under HMDA LIMITS & nagar panchayats
  • Or NSC, KVP or Term Deposit Receipts of TSCAB to the extent of 100% of the loan amount.
  • Rate of Interest (Unsecured) – 12.50% p.a.
  • Education loans with collateral security – 12.00% p.a.

 

SMALL AND MEDIUM ENTERPRISES LOANS(SME Loans)

  • Working Capital: Rs.10,00,000/-(To be renewed every year).
  • New Traders: Rs.1,00,000/-
  • Term loan: Rs.3,00,000/-(36 months)
  • Rate of Interest – Working Capital
  • Without collateral security – 14.00%
  • With collateral security – 13.50%
  • Rate of Interest – Term Loan
  • Fixed – 14.00%
  • Security
    • Upto Rs.1,00,000/-, 1 Govt. surety and Hypothecation of stock
    • Above Rs.1,00,000/- and upto Rs.3,00,000/-, 2 Govt. sureties and Hypothecation of stock.
    • Above Rs.3,00,000/-, 2 Govt. sureties, Hypothecation of stock and immovable property as collateral security.
  • Term Loan
  • 2 Govt. sureties and Hypothecation of stocks/pledge wherever possible.

 

Housing Loans

  • Maximum limit upto Rs.30,00,000/-
  • Provided to persons: upto 65 years of age.
  • Repayment period: Maximum 20 years
  • Rate of Interest: Fixed – 9.50% p.a.
  • Security: House as collateral security.
  • All the areas coming under HMDA limits & nagar panchayats.

 

Mortgage Loans:

  • 75% of the market value of the House/Flat subject to a maximum of Rs.30.00 lakhs.
  • Minimum 3 years regular service in organizations acceptable to the bank/3 years IT returns in case of self-employed and other professionals.
  • Repayment period: Maximum 10 years.
  • Rate of Interest: Fixed rate – 12.00%
  • Legal scrutiny will be done by approved Advocates/Valuers.
  • All the areas coming under HMDA limits & nagar panchayats.

 

Self Help Group:

  • Upto Rs.5.00 lakhs
  • Age limit: 18 to 60 years
  • Repayment period: 24 to 60 months
  • Rate of interest: 13.00%p.a.

 

Petty Traders & Street Vendors Finance:

  • Upto Rs.1.00 lakh
  • Repayment period:
  1. Upto Rs.50,000/- – 18months
  2. Above Rs.50,000/- to Rs.1,00,000/- – 36 months
  • Rate of interest: 15.00% p.a.
  • Security: Gold Ornaments (or) FDRs (or) One Govt. Employee surety

 

Car Loan Policy:

  • The Bank formulated a scheme for financing individuals for purchase of non-commercial vehicles like Cars for personal use.
  • Max limit 25,00000.
  • Purpose
    • For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs.
  • Period of Loan
    • Maximum repayment period 6 years (72 months) with equated monthly installments.
  • Rate of Interest
    • The interest will be charged at 9.95% p.a. on monthly compounding basis.
    • In respect of overdue installments, 2% p.a. penal interest will be charged over and above the normal rate.
      Fees and Charges 0.5% of the loan amount subject to a maximum of Rs.5,000/- + applicable taxes.