Permanent Employees/Pensioners of State/Central Government, Government/Semi-Government Undertakings & Autonomous Bodies drawing salary through our Bank and where letter of undertaking from employer is available.
Customers already availing credit facilities (for more than 2 years) without any past dues of more than one month on the loan.
Minimum age: 21 years.
Maximum age at loan maturity: Employee’s date of retirement or 60 years, whichever is earlier, while as for others, it is 65 years.
Maximum Finance: 75,000 or 12 months net income for purchasing upto three Smartphones or 90% of the invoice value of the Smartphone(s) whichever is lower.
Maximum finance (in case of individual small businessmen who do not file their tax returns and do not maintain the financial statements) is 10% of the credits in the operative account of the borrower during the last 12 months or 90% of the invoice value of the Smartphone(s), 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.