Personal Loan
Personal Loan
Empower your dreams with APCOB Bank’s Personal Loans. The Bank finances loan for various purposes viz., domestic / education / health expenses, to repay the existing debts, to purchase consumer durable items, etc., our hassle-free loan options and competitive interest rates are designed to make your aspirations a reality. Take the first step towards your dreams – inquire about our Personal Loans today.
Eligibility
The Applicant/s should be a customer of the branch/bank.
Salaried/Self-employed/Pensioners can avail loan.
Sufficient source of income with reasonable documentary evidence to meet EMI for the loan availed.
The prospective Borrower’s & surety CIBIL score should be minimum 650.
Government Surety is required.
Features & Benefits
Can be used for various purposes domestic / education / health expenses, to repay the existing debts, to purchase consumer durable items and more.
Quick approval and disbursal
No restriction on usage except for speculative purposes
Professionals / Self-employed the repayment period upto 70 years
Low processing charges and no prepayment charges
NIL Pre-Payment Charges
| Interst Rates % | |||
|---|---|---|---|
|
S. No |
Cibil Score |
Rate of Interest |
|
|
i. |
650 to 700 |
12.00 |
|
|
ii. |
701 to 750 |
11.50 |
|
|
iii. |
751 & above |
11.00 |
|
Guarantors
Up to Rs.5.00 Lakh – One Surety and
Above Rs.5.00 lakh – Two sureties.
The surety should also meet the requirement of 1/3rd net take home salary after meeting the entire existing and proposed monthly instalment.
It is preferable to have a salaried person either as borrower or as guarantor. In other words, if the borrower happens to be other than salaried person the guarantor / surety shall be a salaried person.
Collateral Security can also be accepted in the form of our own bank Term
Deposits, NSCs etc., and in combination with immovable property in lieu of personal guarantors.
Other Services
Vehicle Loan
Business Loan
Government Schemes
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