Loans up to Rs.75000: Non-Priority

To provide finance for purchase of Mobile Phones (IOS, Blackberry, Android and Windows based) to:

  • 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 seasoned credit facilities (aged more than 2 years) where in there have been no past dues of more than one month during the currency of the loan.
  • Minimum age of Applicant: 21 years.
  • Maximum age of Applicant at loan maturity:

For employees Date of retirement or 60 Years   whichever is earlier.

For others: 65 years.
  • Minimum Finance: Rs. 10,000.00
  • Maximum Finance: Rs.  75,000.00 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) = 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.
  • In  case  of Govt.employees  gross deductions  including  loan EMI (existing  as  well  as proposed) should  not exceed  60%  of  gross salary.
In all other cases gross deductions including EMI should not exceed 50% of gross income.



30 Equated Monthly Installments.

No penalty on prepayment or / and foreclosure of the loan.