Gen-Next Lifestyle
Type Of Facility
Purpose
- Purchase of Home Furnishings / Consumer Durable goods (includes color T.V., video camera / refrigerator / washing machine / music system / air-conditioners / cooking system etc).
- Purchase of vehicle i.e. two-wheeler / four-wheeler.
- Purchase of Laptop / PC.
- Purchase of any new electronic gadgets like Mobile, i-Pod, Handycam etc.
Target Group
- Working executives / professionals.
Eligibility
- Should be an Indian National
- Permanent Employees of State / Central Government, Public Sector Undertakings, Semi government Organization, State / Central Govt. Corporations, Urban Development Authorities, Educational Institutions, Universities.
Regular Employees of MNCs, Public Ltd Companies with minimum two years experience out of which minimum one year service with the present organization.
- Employees of Private Limited Companies, Regional head will permit on case-to-case basis.
Present gross annual emoluments / income of the applicant should not be less than Rs. 2.50 lacs.
Age
- Minimum – 21 years
- Maximum – 45 years
Maximum Loan Amount
Subject to maximum of:
- Furniture & Fixture / New Consumer Durables : Rs. 2 lacs
- New Vehicle (Four Wheeler) : Rs. 6 lacs
(Two Wheeler) : Rs. 1 lac
- Old Four Wheeler (Not more than 3 years old) : Rs. 4 lacs
- New modern gadget/s : Rs. 1 lac
Aggregate loan amount should not be more than Rs. 8.00 lacs.
Subject to:
- 24 times gross Monthly income.
- Total deductions including EMI of proposed loan should not exceed 60% of the gross income.
Margin
- Furniture & Fixture / New Consumer Durables : 20%
- New Vehicle (Two wheeler / Four wheeler) : 15%
- Old Vehicle (Four wheeler only) : 40%
- New Modern Gadgets (Including Laptop / PC) : 20%
For detailed information on the benefits you can avail of, and terms and conditions to follow for the same, CLICK HERE.
