Purpose

For purchase of new Two wheelers viz.: Scooter(s), Motor cycle(s), Scooterrete (s), Moped(s), (subject to Registration of vehicle with RTO).

Eligibility

Existing HPGB customers with at least 6 months satisfactory transactional record OR new customer with satisfactory track record of last one year with other Bank/FI in the age group of 18 years and 60 years holding a valid driving licence.

Salaried individuals drawing salary from our bank or under check off facility from the employer.

Students, 18 years and above till gainfully employed, with salaried parent as co-borrower drawing salary from our bank; Business concerns (Corporate or non –corporate)

Income Criteria

Minimum Net Monthly Income of Rs.10,000/- p.m.

In case of students, Income/salary proof of parent/guardian who will be co-borrower be considered.

Income of spouse can be taken into consideration for determining the income criteria provided satisfactory proof of income is produced.

Income of business concerns be verified from Income Tax Returns filed and challans for Tax Deposited.

Quantum Of Finance

Max Rs.1.0 lac. Above Rs.1.0 lac by RM.

Margin

Security

Hypothecation of 2 wheeler financed from bank loan

Guarantee acceptable to bank as per guidelines

Repayment (Maximum)

For Scooter and Motorcycle – 60 EMIs

For Scooterrete – 30 EMIs

For Mopeds – 24 EMIs

Prepayment Charges

Nil

Rate Of Interest

12.60%-14.10% (Terms and Conditions follows)

Processing Charges/ Upfront Fee

Rs.275/-

Documentation Charges

Rs.275/-

Education Loan Scheme For Students Pursuing Higher Education Abroad

Objective

To provide financial support to meritorious students for pursuing higher education abroad.

Students Who Secure Admission In COURSES As Under

• Graduation: For job oriented professional/technical courses offered by reputed universities.
• Post graduation: MCA, MBA, MS, etc.
• Courses conducted by CIMA- London, CPA in USA etc.
• Degree/Diploma courses like aeronautical, pilot training, shipping etc. provided these are recognized by competent regulatory bodies in abroad for the purpose of employment in abroad.
• List of Premier Foreign Universities and Educational Institutes is available at branches.

Education loan to students for pursuing Diploma & Certificate courses other than aeronautical, pilot training, shipping etc from abroad, may be considered, where the loan is backed by liquid security valuing 125% of loan amount in the shape of FDRs/ NSCs/ surrender value of Life Insurance Policies along with establishing the financial credentials of family members (either joint borrower or guarantor) subject to the condition that the said course(s) is recognized/ accredited one.

Purpose

• Fee payable to college/ school/ hostel.
• Examination/ Library/ Laboratory fee.
• Travel expenses/ passage money for studies abroad.
• Life Insurance premium for student borrower, if applicable.
• Caution deposit, Building fund/refundable deposit supported by Institution bills/ receipts.
• Purchase of books/ equipments/ instruments/ uniforms.
• Purchase of computer at reasonable cost, if required for completion of the course.
• Any other expense required to complete the course - like study tours, project work, thesis, etc.

Eligibility

• Should be an Indian national.
• Should have secured admission to a higher education course in recognized institutions Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or Equivalent).

Quantum Of Finance

• Need based Finance subject to repaying capacity of the parents/students with margin.
• Reimbursement of fees paid within six months may be considered on individual merits of the case.

Margin

• Up to Rs. 4 lac - NIL
• Above Rs. 4 lac - 15%
• Scholarship/ assistantship be included in margin.
• Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.

Security

Upto Rs.4.0 lacs: Parent(s)/guardian be made joint borrower (s)

• Upto Rs. 7.50 lacs: Parent(s)/guardian be made joint borrower (s). No tangible Security and /or 3rd party guarantee is required.
• Above Rs.7.50 lacs: Parent(s)/guardian be joint borrower(s).Tangible collateral security of suitable value acceptable to bank.

Repayment

• maximum upto 15 years

Repayment Holiday/Moratorium

Course period + 1 year

Prepayment Charges

Nil

Rate Of Interest

11.0% -13.0% (Terms and Conditions follows)

Processing Charges/ Upfront Fee

Upfront fee @ 1% with a minimum of Rs.10,000/- be recovered which shall be refunded after first disbursement has been made in the Account towards fee/ other expenses sanctioned for Education loan ensuring that the student has taken admission and joined the institute.

Documentation Charges

For loan upto Rs. 4 lacs- Rs. 270/-

For loan over Rs. 4 lacs- Rs. 450/-