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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	Salaried (EMI/NMI Ratio)	Other than Salaried (EMI/NMI Ratio)
    Above Rs.1.20 lakhs and up to Rs.2.00 lakhs	45.00%	40.00%
    Above Rs.2.0 lakhs And up to Rs.5.00 lakhs	55.00%	50.00%
    Above Rs.5.00 lakhs and up to Rs.10.00 lakhs	60.00%	55.00%
    Above Rs.10.00 Lakh	65.00%	65.00%

• Loan Amount : Max. Rs. 300.00 lakh or 90% of Sale Deed. In the case of sanctioning a Housing Loan on resale property, Valuation Report to be taken from Panel Valuer. Margin can be considered as NIL subject to maintaining required margin of 30% on Valuation amount.

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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.  84 Months (subject to ROI will be increased by mark up of 0.25% p.a.)

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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 :
  • To provide financial support to run business activity smoothly, working capital requirement, fulfillment of economic hardship of Individuals, Medical / Social / Personal expenses, repayment of existing debt availed from other FI/NBFC etc. However, financial assistance for Anti-Social activity, speculation activity, gambling or such other undesired activities will not be allowed under the Scheme.
  • Loan Amount :
    • Upto Rs 5,00,000/- Total Unsecured portion (Micro Credit + Unsecured Loan + Unsecured OD + Personal Loan + AGSY I / II + unsecured portion by any other facilities) of the applicant / borrower must not exceed Rs. 5.00 Lakhs at any point of time.
  • Repayment Tenure & ROI : 9.00% p.a. with tenor upto 36 Months, 9.25% p.a. with tenor above -36- Months upto -60- Months

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