• Purchase of Modern Modular Kitchen.
  • Permanent  employees (minimum service record of 3 years)  of  Govt  (State  &  Central)  ,  Semi  Govt Departments, Public Sector Undertakings, Autonomous Bodies and reputed Public / Private limited companies..
  • Professionals/Self Employed like Doctors, Lawyers, Chartered Accountants, Engineers with a minimum standing of 2 years.
  • Pensioners (State/Central) drawing pension through our bank.
  • Minimum age: 18 years.
  • Maximum age at loan maturity: 60 years for professionals/Self Employed, 65 years for pensioners.
  • In case of Govt employees, loan should be adjusted one month before the date of retirement.
  • Maximum: 5 lakh or 60 months net income or 80% of the cost of the modular kitchen, whichever is lower.
  • For Govt. employees gross deductions should not exceed 60% of gross salary while as for others deductions should not exceed 50% of gross income.
  • Primary: Hypothecation of items purchased.
  • Collateral: 
  • Third Party Guarantee of one person of sufficient net worth for all categories.
  • For pensioners, guarantee of spouse eligible for family pension.
  • No third party guarantee required for J&K State Government employees drawing monthly salary through our Business units and who provides letter of confirmation from their DDOs. Where Letter of confirmation is not available 3rd party guarantee of one person of sound means.
  • No third party guarantee in case of the Fixed Deposit holders having term deposits in the Business unit equal to 100% of the loan amount or pledge NSC, Insurance Policies or other Govt Securities of equivalent value. The fixed deposit/security shall remain under lien to the Bank till adjustment of loan.
  • 0.5% of the amount disbursed.
  • Upto 2,50,000: 72 months.
  • Above 2,50,000: 84 months.
  • No penalty on prepayment.
  • For state Govt. Employees & Pensioners (State/Central) : Applicable MCLR + 3.00% p.a fixed with monthly rests.
  • For others: Applicable MCLR + 3.50% p.a. fixed with monthly rests.

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