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With a view to providing the banking services at the doorsteps of this deprived and ignorant class and to focus financial inclusion, the Bank grants Microfinance Loan facility as per RBI guidelines in a focused way.

Bank is providing Microfinance Loan maximum for amount up to Rs. 50,000/- for the purpose of purchase of equipment, business, medical and social, repairing of house, education etc. for maximum repayment tenor upto -36- months to a household having annual household income up to Rs. 3,00,000/-. For this purpose, the household shall mean an individual family unit, i.e. husband, wife and their unmarried children.

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• Purpose & Eligibility :
  • Construction / Purchase / Repairing of Flat / Tenament / Raw House  / Bunglows.
  • The existing repayment obligation/s of the loan/s availed by the borrower will be added to the proposed Home Loan EMI for calculation of EMI / NMI Ratio. The said ratio must remain within the benchmark level as per the Bank’s below mentioned guidelines.
    

    Net Annual Income	EMI / NMI Ratio
    Above Rs.1.20 Lacs and upto Rs.2.00 Lacs	40.00%
    Above Rs.2.00 and upto Rs.5.00 Lacs	50.00%
    Above Rs.5.00 Lacs and upto Rs.10.00 Lacs	55.00%
    Above Rs.10.00 Lacs	65.00%

• Loan Amount : Max. Rs. 140.00 Lakh or 85 % of Sale Deed whichever is lower

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• Purpose & Eligibility :
  • For Domestic & Foreign Education.

• Repayment Period : Max. 10 years

• Avail Interest benefits for Education loan up to Rs. 10 Lakhs under ‘Knowledge Consortium of Gujarat’

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• Purpose & Eligibility :
  • For purchase a new car.
  • Individuals between -21- to -65- years of age
  • Permanent employees of Central / State Government, Central / State Government Boards, Public Sector Undertakings, Public or Private Companies or reputed establishments.
  • For salaried customers other than above mentioned categories, regular employee with minimum -3- years of service.
  • Professionals, Self-employed persons, Businessmen, Industrialists, & Farmers.
  • CIBIL score of the applicant should be more than 600.
• Loan Amount :
  • 80 % of Quotation of Vehicles (Basic price + Insurance + R.T.O. charges)
• Repayment Period : Max.  60 Months

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• Purpose & Eligibility :
  • For purchase of Two Wheeler
  • Existing Customers / Borrowers of the Bank and Close relatives, Salaried Employees are eligible to apply for this loan
• Loan Amount : Max. Rs. 5.00 Lakh
• Repayment Period : Max. 60 Months

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• Purpose & Eligibility :
  • Business expansion / professional needs / marketing
  • Improvement/extension of existing property
  • Repayment of high interest bearing existing loans from other banks/FIs
  • Purchase of new Shop / Office / Go-down for business expansion
  • Working Capital needs
• Loan Amount :
  • For Salaried : Min. Rs. 2.00 Lakh ; Max. Rs. 300.00 Lakh
  • For Business Class : Min. Rs. 5.00 Lakh ; Max. Rs.750.00 Lakh
• Repayment Period : 7 years

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• Purpose & Eligibility :
  • For Personal need other than for the purpose of speculation,gambling and such undesired activities not encouraged by bank.
  • Loan Amount :
    • Min. : Rs.25000/-
    • Max. : Rs. 5 Lakh
  • Repayment Period : 12 to 60 months

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