Personal Loan

Personal Loan

For the individuals
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Personal Mortgage Loan
Who can Borrow Permanent Salaried Employee, Engaged in Business, Self Employed Professionals.
Purpose Repayment of personal Borrowings/ Business purpose/ Medical Emergencies etc
Limit 60% of the M.V of the property offered as security.
Security Immovable Property Such as Flat/ Row house/ Shop/ Industrial Gala / Land along with House /NA Land
Margin 40% margin
Rate of Interest Upto Rs. 1.00 crores- 10.25% p.a.
Above Rs. 1.00 crores- 10.75% p.a.**
Repayment Max.120 Months
Processing Fees As per our service charges applicable
Basic Documents
  • A. KYC documents of Borrowers and Guarantors .
  • B. For Salaried Employee :
    1. Salary slip for the last 3 months along with bank statement wherein Salary is credited for last one year.
    2. Latest Form No.16
  • C.For Business/Self Employed Professionals
    1. IT Returns along with Financial statements for the last 3 Yrs
    2. Statement of business account for last one year.
    3. Property related papers/documents.
BCCB Personal Loan
Who can Borrow Permanent Salaried Employee, Engaged in Business , Self Employed Professionals.
Purpose To Meet personal expenses such as Medical/Travel/ Marriage/ Purchase of Hi tech Electronic Gadgets, Household appliances/Furniture
Limit Minimum Loan to be sanctioned —-Above Rs.3 Lacs
Maximum loan to sanctioned ——–Upto Rs.5.00 Lacs
Collateral Security Security such as Pledge of our banks Term Deposits,  NSC , Assignment of Surrender Value of LIC policies , Simple Deposit of Title Deeds of owned immovable property with noting of charge with competent authorities.
Margin No Margin
Rate of Interest 11.00 % p.a
Repayment Max.120 Months
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors .
  2. For Salaried Employee :
    1. Salary slip for the last 3 months along with bank statement wherein   Salary is credited for last one year.
    2. Latest Form No.16
  3. For Business/Self Employed Professionals
    1. IT Returns along with Financial statements for the last 3 Yrs
    2. Statement of business account for last one year.
BCCB Personal OD

Who can Borrow

Individuals

Purpose

To meet the short term emergency expenses /recurring expenses 

NOT FOR SPECULATIVE PURPOSE i.e Investment in shares, purchase of gold, land etc as per RBI guidelines.

Eligibility

Individuals [Shareholder of the bank]

  1. In case of salaried borrower, the salary has to be received to the SB A/c with us vide ECS/Transfer to the account atleast for 6 months. Salary received in CASH shall not be considered. The total repayment of all loans (Existing and proposed] should not exceed 60% of the net take home income or net income as per ITR.

  2. For maximum limit of rs. 5.00 lacs the minimum net monthly salary of Rs.25000/- and above. And Incase of borrower engaged in business/self employed then Average Gross monthly income as per ITR for preceeding 3 years should be Rs. 30000/- and above

  3. CIBIL score of 650 and above. 

  4. Field Verification mandatory [For Local branches verification by Branch Manager/Official AND Other Branches by Agency appointed by bank. 

Limit

Rs.10,000 to Rs.5,00,000/-

Security

NIL.

[However , Incase the borrower is enjoying any other secured loan extension of Banks charge shall be obtained continued on Primary as well as Collateral Security  by way of Stamped Undertaking.

Margin

NIL

Rate of Interest

10.75% p.a [Fixed]. 

Repayment

No Repayment. However Monthly interest has to be serviced separately every month. 

Standing Instructions from SB/CD A/c or ECS for servicing the monthly interest can be obtained.

Processing Fees

0.30% of the Overdraft amount to be sanctioned. 

Basic Documents

  1. KYC 

  2. Income proof [Salary Slips for the preceding 6 months and bank statement wherein the salary is credited for the last one year

  3. In case the borrower is in business ITR along with financials for the last 3 preceding years. 

  4. Current A/c statement for the last one year. 

Guarantors

Two Creditworthy guarantors.

Renewal

Yearly