0755 – 2674701-02FINANCING 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.
W.E.F. 27.02.2024
|
Sr. No. |
Types of Loan / (Purpose) |
Max. Loan Amount |
Margin Money |
Interest rate if CIBIL SCORE is less than 700 and NTC SCORE is less than 150.
|
Interest rate if CIBIL SCORE is 700 or more and NTC SCORE is 150 or more. |
Insurance |
Repayment period |
Security |
|
1 |
HOUSE LOAN: 1- For purchases/ construction of House 2- For repairs, additions & alterations |
1-Rs.75.00 lakhs 2-Rs.01.00 lakhs |
1-20% up to Rs.25,000 2-25% from Rs.25,001 to Rs.50,000 3-30% above Rs.50,000 |
09.00% |
08.50% |
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.10.00 lakhs (personal) ------------- Heavy- Rs.10.00 lakhs (commercial) |
15.0%
25.0% |
10.00% |
09.00% |
Insurance of vehicle |
7 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. 40.00 lakhs |
30% of Value of Fixed assets |
09.00% |
08.50% |
Mortgage of Assets (Not required in case of diverted Land only) |
15 years on monthly basis |
Mortgage of assets + advance cheques |
|
4 |
CASH CREDIT AGAINST COLLATERAL SECURITY (For business) |
Rs. 25.00 lakhs |
pledge - 25% & Hypothecation - 40% |
11.00% |
10.50% |
Insurance of Stock |
1 year |
security of 1 person + security in the form of fixed asset/N.S.C./F.D.R./I.V.P. + Hypo. / Pledge of Stocks |
|
5 |
CONSUMER LOAN (For House hold items)
|
Rs. 5.00 lakhs |
25%, 10-15% (in institutional group cases) |
10.00% |
09.50% |
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 inclusive of working capital limit) |
Rs.25.00 lakhs |
25.0% - 40% (Risk basis) |
11.00% |
10.50% |
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.10.00 lakhs |
Nil |
11.00% |
10.50% |
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.15.00 lakhs |
20% |
10.00% |
09.00% |
- |
Maximum 7 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/ K.V.P + Guarantee of 1 person + advance cheques |
|
9 |
TRAVEL LOAN (For travelling purposes) |
Rs.5.00 lakhs |
20.0% |
11.00% |
10.00% |
- |
5 years on Monthly basis |
Guarantee of 1 person + letter of authority/employer acceptance + advance cheques |
|
10 |
UTSAVA LOAN |
Rs.5.00 lakhs |
20.0% |
11.00% |
10.00% |
- |
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 lakhs |
- |
10.00% |
09.50% |
- |
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 lakhs |
40.0% |
10.00%
|
09.00% |
Insurance of ornaments |
12 months |
Pledge of ornaments |
Note :-
-
For regular Employees of the Government of India / State Government, Corporation / Board, all Cooperative Institutions, Nationalized Banks and for Employees of the Apex Bank -
a- Home Loan and Loan Against Mortgage of Fixed Assets- 09.00% (If CIBIL SCORE is less than 700 and NTC SCORE is less than 150) and 08.50% (If CIBIL SCORE is 700 or more and NTC SCORE is 150 or more)
b- Loans under all other schemes- 10.00% (If CIBIL SCORE is less than 700 and NTC SCORE is less than 150) and 09.00% (If CIBIL SCORE is 700 or more and NTC SCORE is 150 or more)
- Loans to Apex Bank's Officers/Employees (including Regularized Employees) under all schemes (except Project Loan, Cash Credit Against Collateral Security and Vehicle Loan) collectively up to a maximum limit of Rs.1.00 lakh.
- Other documents as applicable in Loan Policy.
- For more details and current Effective Rates / Procedure, please contact our nearest Branch.