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Clean Loans
 

 Nature of the Scheme

Cash loan to Individuals
 
 Purpose

To meet any genuine credit requirement of the borrower for personal purpose.

 
Quantum of Finance
  • For Salaried Persons

Fresh Finance: 8 times gross salary subject to maximum of Rs. 1,00,000 /- (Salary should be routed through Andhra Bank)

Repeat Finance: 10 times gross monthly salary subject to maximum of Rs. 1,50,000/- (take home pay – 40%)

  • Take Home pay : After all deductions including the repayment instalment for the proposed loan shall not be less than 40% of gross salary.
    For Non Salaried Persons : 2 times average annual proven income (Annual income as average of last three years income shown in IT returns/ assessment orders).
    For Pensioners: 8 times of monthly pension. Cap for pensioners is Rs. 1,00,000/- . Maximum age 75 years.
    For LIC Agents :
  • For those who are income tax assesses: Two times of average renewal commission for the previous three years, subject to a maximum of Rs. 2,00,000/-
  • For those who are not income tax assesses: 50% of average renewal commission basing on a statement of income for the previous three years, subject to a  maximum of Rs. 2,00,000/-
  • Maximum age : 55 years
 
 Margin
No Margin on clean loans
 
 Repayment

60 months (EMI)

 
Take home pay
40% after the proposed installment in case of salaried persons.
 
 Co-obligation

A good third party acceptable to the Bank

 
 Security

Nil

 
 Renewal Facility

Renewal facility can be allowed only after 1/3rd of the stipulated repayment period of loans is lapsed and the installments are regular and up to date.

 
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   Security alerts & Tips
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News & Events


AS A PART OF RISK MITIGATION MEASURE, DEBIT CARDS ISSUED AFTER 30-11-2013 ARE ENABLED FOR DOMESTIC TXNS ONLY. FOR FURTHER DETAILS PLEASE CONTACT OUR BRANCH.

You can now donate to Shri Saibaba Sansthan Trust, Shirdi through IMPS-Mobile Banking.

Presentation to Analysts

Our Total Income during 12M of FY’12-13 increased to Rs. 13,957 Crore, recording a growth of 14.4%.

Form 15G/15H has to be submitted afresh at the beginning of each financial year to avail exemption/concession in TDS. Quoting of PAN is mandatory for availing such exemptions/concessions.

All our Banks’ cheques are “payable at par henceforth. We request all our customers to surrender their old cheque books at their account branch and obtain CTS 2010 Standard Cheque books immediately.

We request all our customers who have issued postdated cheques for repayment of loan installments for loans availed by them to replace the old PDCs with new CTS 2010 Standard cheques.

Online Grievance Redressal System with Tracking

Online Applications for MSME and Retail Loans

Online Donations to charitable institutions through net banking

Online resetting of Internet Banking Login Password

Interbank transfer of Funds through Mobile Banking using IFSC code

Housing loans - festive offer: 100% waiver of processing charges and assured speedy processing, sanction within 5 working days.

As per RBI mandate, cash retraction facility is discontinued from our ATMs. Do not forget to collect cash before leaving ATM room.

Any customer could walk in to deposit money in any branch of the bank if the account is in any other branch of the bank to which he wants to deposit the money and there will be no charges on this for any amount

Fictitious Offers of Cheap funds from abroad - Awareness Campaign - List of Nodal Agency (Cyber Crime Cell / Economic Offence Wing)

Complain to Local Police/Cyber Crime Authorities against Fictitious Offers of Money from Abroad

PPF and SCSS schemes

Do Not fall Prey to Fictitious Offers of Funds Transfer

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