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* NEFT and RTGS Services are free for Bank Customer. ** Highest Interest rate available for senior citizen.*** Locker Services are available on lowest rates.**** Facility for PMSBY, PMJJBY & Atal Pension Yojna is available. ***** Apex Bank's branches are CBS enabled.

FINANCING TO INDIVIDUAL BORROWERS  THROUGH BRANCHES OF APEX BANK

Under the various schemes of direct financing  to individual borrowers  like loan for purchase of consumer durables, loan for purchases of vehicles, loan for purchase/ construction of house, cash credit limits to traders, loans against pledge of gold/silver ornaments, loan for higher education, personal loan, loan against mortgage of fixed assets, loan for visit, festival loan and loan for treatment are being provided through branches of Apex Bank.

 

Sr. No.

Type of Loan / (Purpose)

Max. Loan Amount

Margin Money

Interest Rate

Insurance

 Repayment period

Security **

 

1

HOUSE LOAN

1- For purchases/ construction of House,

2- For repairs, additions & alterations

Rs.30.00  lacs

Rs.01.00 lacs

20.0% up to Rs.25,000

25.0%  from Rs.25,001 to Rs.50,000

30.0%  above  Rs.50,000

up to Rs. 2.00 lacs - 09.50%

------------------

above Rs. 2.00 lacs 9.80%

Insurance of  house

15 years on monthly basis

 

15 years on monthly basis

 i) Salaried :

Mortgage of assets + letter of employer/ letter in favour of employer + advance  cheque.

---------------------

 ii) Non Salaried

Mortgage of assets + advance  cheques.

 

2

VEHICLE LOAN

(For personal use and Commercial use)

Light- Rs.5.00  lacs (personal)

-------------

Heavy-Rs.10.00 lacs (commercial)

15.0% &25.0%

12.0%,

10.5% p.a. (Employees*)

Insurance of  vehicle.

5 years on monthly basis

 i) Salaried :

Guarantee of  1 person + letter of employer/ letter in favour of employer + advance cheque + Hypothecation of Vehicle

---------------------

 ii) Non Salaried :

Guarantee of  1 person + collateral security i.e. Fixed assets/ N.S.C./F.D.R  Guarantee of separate 1 person having capacity to repay the loan + advance cheques.+ Hypothecation of Vehicle

 

3

LOAN AGAINST MORTGAGE OF FIXED ASSETS : (Personal use i.e. Marriage, Travels & other purposes etc.)

 

Rs. 25.00 lacs

40% of Value of Fixed assets

11.75%, 10.5% (Employee*)

Mortgage of assets

(Not requires in case of diverted land only)

10 years on monthly basis

Mortgage of assets + advance cheques

4

CASH CREDIT AGAINST COLLATERAL SECURITY  (For business)

 

 

Rs.25.00  lacs

pledge  -  25% & Hypothecation - 40%

12.50% up to Rs.2.00 lacs &13.0s0%  above Rs.2.00 lacs

Insurance of  stock

1 year

security of 1 person + security in the form of fixed asset/NSC/FDR/IVP. + Hypo. / Pledge of Stocks.

5

CONSUMER LOAN  

(For House hold items)

 

Rs.2.00 lacs

25%,

10-15%

(in institutional group cases)

12.00%, 10.50%* p.a. (employees*)

In case of  two -wheeler  vehicle Only

5 years on monthly basis

i) Salaried :

Guarantee of  1 person + letter of employer/ letter in favour of employee + advance cheque.+ Hypo of vehicle (2 wheeler)

ii) Non Salaried :

 Guarantee of  1 person + collateral security i.e. N.S.C./F.D.R/ guarantee of separate 1 person having capacity to repay the loan + advance cheques .+ Hypo of vehicle (2 wheeler)

6

PROJECT  LOAN

(Project development)

 

Rs.25.00  lacs  inclusive  of  working capital limit

25.0% - 

40% (Risk basis)

12.50%

Mortgage of asset & machinery

7 years including 12-18 months moratorium period

Guarantee of 1 person + collateral security + Mortgage of properties created out of loans.

7

PERSONAL LOAN (Personal use i.e. marriage, travels & other purposes etc.)

 

Rs. 1.00 lacs

Nil

13.00%, 10.5% (employees*)

Not required

5 years on monthly basis

Guarantee of 1 person + letter of authority/ employer acceptance  + advance cheques

8

EDUCATIONAL LOAN :

(Loan for pursuing higher education for 2 students of a family on the basis of repaying capacity of parents)

 

 

Rs. 3.00 lacs

20%,

13.00%, 10.50%

(for employees*)

-

Maximum 5 years on monthly basis.

i) Salaried :

Guarantee of 1 person + collateral security + advance cheques

 

ii) Non Salaried :

 Fixed assets/  N.S.C./ F.D.R/ KVP + Guarantee of 1 person  + advance cheques

9

TRAVEL  LOAN:

(For travelling purposes)

 

Rs. 1.00 lacs

20.0%,

12.50%, 10.5%

( employees*)

-

5 years on Monthly basis

Guarantee of 1 person + letter of authority/employer acceptance  + advance cheques

 

10

UTSAVA LOAN :

 

Rs. 1.00 lacs

20.0%,

12.50%, 10.5%

( employees*)

-

5 years on Monthly basis

Guarantee of 1 person + letter of authority/employer acceptance  +

Advance cheques.

 

11

MEDICAL TREATMENT LOAN :

 (Medical treatment & illness)

 

Rs. 1.00 lacs

-

12.50%, 10.5%

(employees*)

-

5 years on Monthly basis

i. Salaried :

Guarantee of 1 person + employer letter of authority or acceptance letter + advance cheques

ii.  Non salaried :

Guarantee of 1 person + collateral security + advance cheque

12

LOAN AGAINST PLEDGE OF ORNAMENTS  (Pledge of gold /silver ornament)

 

Rs.1.00  lacs

40.0%

12.00%  SC/ST/SF, 10.50% (employees*),

12.50% For others

 

Insurance of  ornaments

12  months

pledge of ornaments

 

* Central & State Govt. Nigam, Board, Cooperative Institutions & Nationalized Banks.

** Other documents as applicable  in loan policy.

Note :- For more details  and current applicable rate / procedure, please contact our nearest branch.