Personal Loan

Purpose Of the Loan:

To meet expenses incurred on education, marriage, family celebrations, medical expenses, etc, on individual / family / community.

Eligibility for Loan:

1. Regular employees of the Government of India / U.P.
2. Permanent Employees of Semi-official/ Self Governing/ Institute/ Educational Institute (Approved by UP/ India Govt).
3. Self-employed person or individuals working in private sector has two times the value of real estate such as land / building or has one and a half times the value of the loan amount, term deposit receipts / national savings certificate / Kisan Vikas Patra of the proposed loan has agreed to Bank to let mortgage in favor of those or whose annual income tax returns for the last 3 years, is higher than the loan amount.
4. Pensioners/ Retired Officers/ Workers/ of Semi-official/ Self Governing/ Institute/ Educational Institute (Approved by UP/ India Govt) and  Retired Officers/ Workers/ of Zila Sahkari Bank Ltd. Kanpur whose age is less than 70 years and has two times the value of real estate such as land / building or has one and a half times the value of the loan amount, term deposit receipts / national savings certificate / Kisan Vikas Patra of the proposed amount of loan and has agreed to Bank to let mortgage in favor of those

Maximum Amount Of Loan:
The maximum amount of the loan will be beneficiary's 15 months salary/ total income or Rs 5.00 Lakh whichever is less.
Term Of Loan:

• The maximum term of the loan will be 60 months (5 years).
• Recovery of loans will be in monthly installments starting by the following month of  the month in which the loan is disbursed.
• In 60 equal installments the loan will be recovered with interest.

Interest Rate:

1. The loan will be charged at 13.00% rate of interest. The interest rate will be applied till the full payment period. Interest on the loan amount will be charged on a monthly basis and compounded.
2. If the amount of the monthly installments are not paid on time, the due installment payment on the amount will be charged at the rate of 2% as penal interest.

** For more information please visit your nearest branch of Zila Sahkari Bank Ltd. Kanpur