Apex Personal

Loan scheme for employees of Corporates-Professionals can avail this loan.

Eligibility:

All confirmed employees, executives/Officials of Public and Professionals who are our customers.
The borrower salary must be credited to their Savings Bank account with us, The Professionals must be made all their transanctions with our Bank only.

Purpose:

To Meet the emergent need. To be classified as Personal Loans.

Income Criteria:

Minimum net take Home salary should be not less than 40% of the Gross Salary at the time of applying for loan after meeting the instalment for the proposed loan. To this effect, salary Certificate is to be produced as an evidence and should be kept along with loan papers. For the professionals 40% of annual income.

Repayment:

36 Months.

Rate of Interest:

13.00% per annum

Limit:

Up to Rs. 5,00,000/-

Processing Charges:

1.00% of the loan amount.

Security:

Immovable Property Mortgage.
Resident of Bangalore for a minmum period of 3 years.
Co-obligant-Govt. Servant or Public Sector Undertaking.
Post-dated cheques.

Documentation:

Application, Salary Certificate/Annual IT Returns Form 16.
Pronote/Pronote covering letter.
Irrevocable mandate addressed to the company/department in duplicate to credit the salary/instalments to the Bank’s account and confirmation to that effect to be obtained from the company/department.
If the employer is not agreeable to credit the instalments to the loan account, a mandate to recover the instalments from the S.B A/c of the borrower should be obtained.
Co-obligant should also join the borrower for executing the loan papers where co-obligation is stipulated.
The Professionals must give undertaking to operate all their banking transactions through our Bank only till the closure of their personal loan account.