EMPOWERING WOMEN
Nature of the Scheme
A four wheeler/ two wheeler vehicle loan scheme exclusively for women including for purchase of four wheelers on second sale.
Eligibility
Salaried women (permanently employed)/ professional and self-employed having income proof.
Income Criteria
For 4 wheelers income should be more than Rs. 1,00,000 /- p.a
For 2 wheelers income should be more than Rs. 60,000 /- p.a
50% of the husband's salary will be taken for computing eligibility provided he is a co-obligant.
Margin amount 10% on road price
Quantum of Finance New Vehicle:
90% on road price which includes invoice price, Life tax, Registration charges, Insurance and accessories, if any, worth Rs. 5,000 /- or 3 years gross salary whichever is lower.
Second Sale:
Four wheelers (not more than three years old): 60% of garage value or 3 years gross income whichever is lower.
Repayment
For 4 wheelers - minimum 12 months and maximum 72 months (EMI).
For 2 wheelers - minimum 12 months and maximum 60 months (EMI)
Interest rate
As applicable on the date of loan with 0.50% concession in rate of interest for prompt payment.
Co-obligation
Husband/ father or any third party acceptable to the bank.
Security
Hypothecation of vehicle purchased
Documents
Valid driving license
Proof of Income - Salary Slip/ IT Returns/ Assessment Order, Performa Invoice.
Valuation certificate from reputed garage for second sale.
Charges
No processing charges and administrative charges applicable .
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.
Friday, May 30, 2008
ANDHRA BANK-PERSONAL LOAN
To meet any credit requirements of the borrowers for the personal/unforeseen commitments
Security.
Pledge of National Savings Certificates, Kisan Vikas Patra, Assignment of LIC Policies and Securities. PSU bonds.
Repayment 60 months.
Quantum 75% of the purchase value of securities pledged including the accrued interest (in case of cumulative interest bearing securities).
Co-obligation
For Credit limits above Rs 50,000/- Co-obligation is necessary
Prevailing Interest rates apply .
Security.
Pledge of National Savings Certificates, Kisan Vikas Patra, Assignment of LIC Policies and Securities. PSU bonds.
Repayment 60 months.
Quantum 75% of the purchase value of securities pledged including the accrued interest (in case of cumulative interest bearing securities).
Co-obligation
For Credit limits above Rs 50,000/- Co-obligation is necessary
Prevailing Interest rates apply .
ANDHRA BANK-EDUCATION LOAN
Andhra Bank-Dr. Pattabhi Vidya Jyothi
Eligibility:
Age :
12-30 years for studies in India
18 to 35 years for study in other countries
Qualifying Marks Exempted
Quantum of Loan: Maximum
Rs. 10.00 Lacs for studies in India
Rs. 20.00 Lacs for Studies Abroad
Purpose of Loan :
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
PLUS
AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
Margin :
Up to Rs.4.00 Lacs Exempted
Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.
Security:
Up to Rs.4.00 Lacs guarantee of parent
Rs.4.00 to 7.50 lacks guarantee of the parent
Above Rs.7.50 Lacs Collateral Security of suitable value & guarantee of the parent
Interest:
Up to Rs.4.00 Lacs (BMPLR -1.25) - Presently 11.75%
Above Rs.4.00 lacks (BMPLR + 0.50) presently 13.50%
(BMPLR at present: 13.00%)
Concession of 0.50% for women for sanctions after 01.07.2005
DIFFERENT RATES OF INTEREST - DIFFERENT INSTITUTES
Wherever Andhra Bank has entered into MOU with
---- IIRM,BITS,Pilani ; BITS, Goa ; IPE ; Goa Institute of Management
Rate of Interest is 9 % fixed.
o ----ISB - Rate of Interest (BMPLR -3.50) is 9.50 % floating
----GMRIT ; SVUCCMIS, Tirupathi ; IIIT, Hyderabad ;CIHL(ZIC
Center, Gurukulam )Hyderabad ; Balaji Society, Pune ; ICFAI Business
School -Rate of Interest is (BMPLR-2.00) 11.00 % Floating
NO PROCESSING CHARGES ; NO PREPAYMENT CHARGES APPLICABLE
INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD only.
B) AB Career Advancement Loan Scheme (ABCALS)
1Eligibility
Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service.
2.Purpose
For studies with reputed Institutes and with International affiliations (Computer including printer can be purchased for all the courses with a maximum of Rs.50,000/-, within the over all limit.)
3.Amount of loan
Maximum Rs.7.50 Lakh
4.Margin
10 %
5.Collateral security
NSCs, KVP, LIC policy surrender value, Govt. securities, Gold
ornaments, Bank deposits, Building/flat of applicant /
Co-obligant value not less than loan amount.
6.Gestation Period
One month
7.Repayment period
Maximum 60 monthly installments commencing after one month from the date of advance.
8.Prepayment Charges
2% flat on the prepaid amount for all Term Loans where the
repayment is fixed beyond 36 months. i.e. installments paid
ahead of repayment schedule.
9.Other requirements
i) No objection certificate from the employer for
prosecuting higher studies and to avail loan from the Bank.
ii)Salary undertaking letter from employer for recovery
of installments.
iii) Undertaking letter from employer to adjust the dues
to the bank from out of terminal benefits, of the employee
if needed.
For any other clarification, please contact your nearest branch of Andhra Bank
-:::::-
Eligibility:
Age :
12-30 years for studies in India
18 to 35 years for study in other countries
Qualifying Marks Exempted
Quantum of Loan: Maximum
Rs. 10.00 Lacs for studies in India
Rs. 20.00 Lacs for Studies Abroad
Purpose of Loan :
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
PLUS
AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
Margin :
Up to Rs.4.00 Lacs Exempted
Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.
Security:
Up to Rs.4.00 Lacs guarantee of parent
Rs.4.00 to 7.50 lacks guarantee of the parent
Above Rs.7.50 Lacs Collateral Security of suitable value & guarantee of the parent
Interest:
Up to Rs.4.00 Lacs (BMPLR -1.25) - Presently 11.75%
Above Rs.4.00 lacks (BMPLR + 0.50) presently 13.50%
(BMPLR at present: 13.00%)
Concession of 0.50% for women for sanctions after 01.07.2005
DIFFERENT RATES OF INTEREST - DIFFERENT INSTITUTES
Wherever Andhra Bank has entered into MOU with
---- IIRM,BITS,Pilani ; BITS, Goa ; IPE ; Goa Institute of Management
Rate of Interest is 9 % fixed.
o ----ISB - Rate of Interest (BMPLR -3.50) is 9.50 % floating
----GMRIT ; SVUCCMIS, Tirupathi ; IIIT, Hyderabad ;CIHL(ZIC
Center, Gurukulam )Hyderabad ; Balaji Society, Pune ; ICFAI Business
School -Rate of Interest is (BMPLR-2.00) 11.00 % Floating
NO PROCESSING CHARGES ; NO PREPAYMENT CHARGES APPLICABLE
INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD only.
B) AB Career Advancement Loan Scheme (ABCALS)
1Eligibility
Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service.
2.Purpose
For studies with reputed Institutes and with International affiliations (Computer including printer can be purchased for all the courses with a maximum of Rs.50,000/-, within the over all limit.)
3.Amount of loan
Maximum Rs.7.50 Lakh
4.Margin
10 %
5.Collateral security
NSCs, KVP, LIC policy surrender value, Govt. securities, Gold
ornaments, Bank deposits, Building/flat of applicant /
Co-obligant value not less than loan amount.
6.Gestation Period
One month
7.Repayment period
Maximum 60 monthly installments commencing after one month from the date of advance.
8.Prepayment Charges
2% flat on the prepaid amount for all Term Loans where the
repayment is fixed beyond 36 months. i.e. installments paid
ahead of repayment schedule.
9.Other requirements
i) No objection certificate from the employer for
prosecuting higher studies and to avail loan from the Bank.
ii)Salary undertaking letter from employer for recovery
of installments.
iii) Undertaking letter from employer to adjust the dues
to the bank from out of terminal benefits, of the employee
if needed.
For any other clarification, please contact your nearest branch of Andhra Bank
-:::::-
ANDHRA BANK-LOANS TO INDIVIDUAL AGAINST RENT RECEIVABLES
Loans to individual against Rent Receivables
Eligibility
Individuals, proprietorship, partnership, public Ltd. Cos, Private Ltd. Cos, and Trust are eligible to avail the facility.
All unencumbered residential/ commercial properties at all places let out for reputed public sector/ private sector/ multinational undertakings, embassies and consulate offices of foreign countries etc are eligible for the loan.
Quantum of Finance Up to a maximum of Rs. 10.00 cr
Repayment Period Within the unexpired lease period including option period/
84 months whichever is less.
Interest rate As applicable on the date of loan.
Primary Security Rent Receivable
Collateral Security For loans up to Rs. 1.00 lacks: No Collateral.
For loans above Rs. 1.00 lacks: Equitable mortgage of the property/ liquid assets such as NSCs, deposits etc. With 25% margin/ equitable mortgage of alternative collateral security.
Co-obligant/ Guarantor: Acceptable to the bank.
Charges As applicable to the scheme from time to time.
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.
Eligibility
Individuals, proprietorship, partnership, public Ltd. Cos, Private Ltd. Cos, and Trust are eligible to avail the facility.
All unencumbered residential/ commercial properties at all places let out for reputed public sector/ private sector/ multinational undertakings, embassies and consulate offices of foreign countries etc are eligible for the loan.
Quantum of Finance Up to a maximum of Rs. 10.00 cr
Repayment Period Within the unexpired lease period including option period/
84 months whichever is less.
Interest rate As applicable on the date of loan.
Primary Security Rent Receivable
Collateral Security For loans up to Rs. 1.00 lacks: No Collateral.
For loans above Rs. 1.00 lacks: Equitable mortgage of the property/ liquid assets such as NSCs, deposits etc. With 25% margin/ equitable mortgage of alternative collateral security.
Co-obligant/ Guarantor: Acceptable to the bank.
Charges As applicable to the scheme from time to time.
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.
ANDHRA BANK -MORTGAGE LOAN
FINANCE AGAINST HOUSE PROPERTY
Nature of the Scheme Loans to individual against immovable property.
Eligibility Any individual holding house/ flat in their name.
Age Should be between 21 to 60 years.
Quantum of Finance For Salaried Persons: 10 times of gross pay/ Pension for salaried.
For Non Salaried Persons: Based on IT returns and repayment capacity.
Repayment Maximum: 60 months (EMI)
Interest rate As applicable on the date of loan.
Co-obligation Any third party acceptable to the bank.
Security Mortgage of House/ Flat
Charges Processing and service charges as applicable.
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.
Nature of the Scheme Loans to individual against immovable property.
Eligibility Any individual holding house/ flat in their name.
Age Should be between 21 to 60 years.
Quantum of Finance For Salaried Persons: 10 times of gross pay/ Pension for salaried.
For Non Salaried Persons: Based on IT returns and repayment capacity.
Repayment Maximum: 60 months (EMI)
Interest rate As applicable on the date of loan.
Co-obligation Any third party acceptable to the bank.
Security Mortgage of House/ Flat
Charges Processing and service charges as applicable.
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.
ANDHRA BANK HOUSING LOAN TO NRIS (NON-RESIDENT INDIANS)
Housing Loans to Non-Resident Indians (NRIs)
Housing Loan to a Non-Resident Indian or a person of Indian Origin resident outside India, for acquisition of a residential accommodation in India, subject to the following conditions, namely:
The quantum of loan, margin money and the period of repayment shall be at par with those applicable to housing finance provided to a person in India;
The loan shall be fully secured by equitable mortgage of the property proposed to be acquired, and if necessary, also by lien on the borrower's other assets in India;
The installment of loan, interest and other charges, if any, shall be paid by the borrower by remittances from outside India through normal banking channels or out of funds in his Non-resident External (NRE) / Foreign Currency Non-resident (FCNR) Non-resident Ordinary (NRO) account in India, or out of rental income derived from renting out the property acquired by utilization of the loan;
The rate of interest on the loan shall conform to the directives issued by Reserve Bank of India or, as the case may be, by the National Housing Bank.
DEFINITIONS:
Who is a Non Resident Indian?
An Indian Citizen residing in other Countries is called a Non-resident Indian (NRI).
Who is a Person of Indian Origin?
A person (not being a citizen of Pakistan or Bangladesh) shall be deemed to be of "Indian Origin" if
He, at any time, held Indian Passport; or
He or either his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or
That person is the spouse of an Indian Citizen or of a person of Indian Origin (not being a citizen of Pakistan, or Bangladesh)
Permission of Reserve Bank of India for purchase of immovable property:
As Far as Foreign Citizens of Indian Origin, Reserve Bank of India has granted general permission, Whether resident in India or abroad, to purchase immovable property in India for their bonfide Residential purpose. They are, therefore, not required to obtain permission of the Reserve Bank of India.However, a declaration is to be submitted to The Chief General Manager, Exchange Control Department, (Foreign Investment Division-III), Reserve Bank of India, Central Office, and Mumbai-400 001 within 90 days from the date of acquisition of the immovable property.
PROHIBITIONS:
No person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, Iran, China, Nepal or Bhutan without prior permission of the Reserve Bank of India shall acquire or transfer immovable property in India, other than lease, not exceeding five years.
Other Clarifications:
1. Can authorized dealer grant housing loan to non-residents where he is a principle borrower with his resident close relative as co-obligant/guarantor or where the land is owned jointly by such NRI borrower with his resident close relative? Yes. However, in such cases the payment of margin money and repayment of the loan installments should be made by the NRI borrower. As informed supra the payment should be by remittances from outside India through normal channels or out of funds in his Non-Resident External (NRE)Foreign Currency non-resident (FCNR)/ account in India or out of rental income derived from renting out the property acquired by utilization of the loan.
2. Can the residential properties be given on rent if not required for immediate use?Yes. Reserve Bank of India has granted general permission for letting out any immovable property in India. As noted above, the rental income derived from renting out the property acquired by utilization of the loan.
3. What is the rate of interest to be charged to the Housing Loans extended to the NRIs?The rate of interest to be charged to the loans allowed to Non-resident Indians is same as that of resident Indians, being communicated time to time.Practically, there are no restrictions for granting loans to Non-Resident Indians and Foreign Citizens of Indian Origin, and the loans granted to them are no different from the housing loans granted for resident Indians.
Housing Loan to a Non-Resident Indian or a person of Indian Origin resident outside India, for acquisition of a residential accommodation in India, subject to the following conditions, namely:
The quantum of loan, margin money and the period of repayment shall be at par with those applicable to housing finance provided to a person in India;
The loan shall be fully secured by equitable mortgage of the property proposed to be acquired, and if necessary, also by lien on the borrower's other assets in India;
The installment of loan, interest and other charges, if any, shall be paid by the borrower by remittances from outside India through normal banking channels or out of funds in his Non-resident External (NRE) / Foreign Currency Non-resident (FCNR) Non-resident Ordinary (NRO) account in India, or out of rental income derived from renting out the property acquired by utilization of the loan;
The rate of interest on the loan shall conform to the directives issued by Reserve Bank of India or, as the case may be, by the National Housing Bank.
DEFINITIONS:
Who is a Non Resident Indian?
An Indian Citizen residing in other Countries is called a Non-resident Indian (NRI).
Who is a Person of Indian Origin?
A person (not being a citizen of Pakistan or Bangladesh) shall be deemed to be of "Indian Origin" if
He, at any time, held Indian Passport; or
He or either his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or
That person is the spouse of an Indian Citizen or of a person of Indian Origin (not being a citizen of Pakistan, or Bangladesh)
Permission of Reserve Bank of India for purchase of immovable property:
As Far as Foreign Citizens of Indian Origin, Reserve Bank of India has granted general permission, Whether resident in India or abroad, to purchase immovable property in India for their bonfide Residential purpose. They are, therefore, not required to obtain permission of the Reserve Bank of India.However, a declaration is to be submitted to The Chief General Manager, Exchange Control Department, (Foreign Investment Division-III), Reserve Bank of India, Central Office, and Mumbai-400 001 within 90 days from the date of acquisition of the immovable property.
PROHIBITIONS:
No person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, Iran, China, Nepal or Bhutan without prior permission of the Reserve Bank of India shall acquire or transfer immovable property in India, other than lease, not exceeding five years.
Other Clarifications:
1. Can authorized dealer grant housing loan to non-residents where he is a principle borrower with his resident close relative as co-obligant/guarantor or where the land is owned jointly by such NRI borrower with his resident close relative? Yes. However, in such cases the payment of margin money and repayment of the loan installments should be made by the NRI borrower. As informed supra the payment should be by remittances from outside India through normal channels or out of funds in his Non-Resident External (NRE)Foreign Currency non-resident (FCNR)/ account in India or out of rental income derived from renting out the property acquired by utilization of the loan.
2. Can the residential properties be given on rent if not required for immediate use?Yes. Reserve Bank of India has granted general permission for letting out any immovable property in India. As noted above, the rental income derived from renting out the property acquired by utilization of the loan.
3. What is the rate of interest to be charged to the Housing Loans extended to the NRIs?The rate of interest to be charged to the loans allowed to Non-resident Indians is same as that of resident Indians, being communicated time to time.Practically, there are no restrictions for granting loans to Non-Resident Indians and Foreign Citizens of Indian Origin, and the loans granted to them are no different from the housing loans granted for resident Indians.
ANDHRA BANK HOUSING LOAN
Housing Loans
ELIGIBILITY CRITERIA
GENERAL
Age 18 to 65 years.
Repayment maximum 20 years.
75% of cost of construction OR 80% of estimated cost (for outright purchase as loan Or 85% if sanctioned by Zonal Office for outright purchase
No guarantee / co obligation.
Income tax benefit for payment of both Principle and Interest as per I.T.Rules .
SALARIED PERSONS
Maximum 48 times monthly gross income
Latest salary certificate
Certificate from the employer regarding leftover service
Estimates and other related approved documents
30% take home pay.
Housing Loans for Business & Self-employed persons
4 times the gross annual income
Income Tax Returns
Auditor Certificate
Estimates and other related approved documents .
Rate of Interest for Loans Sanctioned w.e.f 16.02.2007.
For Limits in Priority Sector :
1) Limits below Rs.15.00 lacs Housing Loans
2) For Repairs in Rural and Semi Urban Area up to Rs.1.00 lac
3) For Repairs in Urban and Metro Area up to Rs.2.00 lac
REPAYMENT PERIOD
Interest Rates
Floating only
Up to and inclusive of 5 years 9.75 (BMPLR-2.50)
Above 5 & up to and inclusive of 10 years 10.00 (BMPLR-2.25)
Above 10 years (Max. 20 years) 10.25 (BMPLR-2.00)
For Limits in Non Priority Sector :
1) New Housing Loans sanctioned on or after 16.02.2007
above Rs.15.00 lacs
2) Repairs above Rs.1.0 lac in Rural, Semi Urban Areas ;
Repairs above Rs.2.0 lacs in Urban, Metro Areas
REPAYMENT PERIOD
Interest Rates
Floating only
Up to and inclusive of 5 years 10.25 (BMPLR-2.00)
Above 5 & up to and inclusive of 10 years 10.50 (BMPLR-1.75)
Above 10 years (Max. 20 years) 10.75 (BMPLR-1.50)
NOTE: Fixed rate of Interest is dispensed for sanction after 01.04.2006
PRE-PAYMENT CHARGES:
Pre-payment charges are to be levied in case of premature closure of term loan by the borrower in cases where the term loan is closed either from his own sources of funds or by way of takeover by other Banks.The Prepayment charges of 2.00% flat on the prepaid amount are applicable for all Term loans including loans sanctioned under Personal Banking Schemes, Housing loans, Term loans against Rent Receivables and Rural go downs where the repayment period is fixed beyond 36 months.
Administrative Charges
Housing Loans:
PROCESSING CHARGES Will be collected at the time of processing of application
ADMINISTRATIVE CHARGES Per quarter per a/c. Per annumPer account.
Up to Rs.10.. lacks: 0.50%. Rs.100/- Rs.400/-
Above Rs.10 lacks & up to Rs.15 lacks: 1.00% . Rs.150/- Rs. 600/-
Above Rs.15 lacks : 1.50%. Rs.250/- Rs. 1000/-.
The 'administrative charges' will be collected on quarterly basis
We "take over" your high cost loans at our low cost rates.
ELIGIBILITY CRITERIA
GENERAL
Age 18 to 65 years.
Repayment maximum 20 years.
75% of cost of construction OR 80% of estimated cost (for outright purchase as loan Or 85% if sanctioned by Zonal Office for outright purchase
No guarantee / co obligation.
Income tax benefit for payment of both Principle and Interest as per I.T.Rules .
SALARIED PERSONS
Maximum 48 times monthly gross income
Latest salary certificate
Certificate from the employer regarding leftover service
Estimates and other related approved documents
30% take home pay.
Housing Loans for Business & Self-employed persons
4 times the gross annual income
Income Tax Returns
Auditor Certificate
Estimates and other related approved documents .
Rate of Interest for Loans Sanctioned w.e.f 16.02.2007.
For Limits in Priority Sector :
1) Limits below Rs.15.00 lacs Housing Loans
2) For Repairs in Rural and Semi Urban Area up to Rs.1.00 lac
3) For Repairs in Urban and Metro Area up to Rs.2.00 lac
REPAYMENT PERIOD
Interest Rates
Floating only
Up to and inclusive of 5 years 9.75 (BMPLR-2.50)
Above 5 & up to and inclusive of 10 years 10.00 (BMPLR-2.25)
Above 10 years (Max. 20 years) 10.25 (BMPLR-2.00)
For Limits in Non Priority Sector :
1) New Housing Loans sanctioned on or after 16.02.2007
above Rs.15.00 lacs
2) Repairs above Rs.1.0 lac in Rural, Semi Urban Areas ;
Repairs above Rs.2.0 lacs in Urban, Metro Areas
REPAYMENT PERIOD
Interest Rates
Floating only
Up to and inclusive of 5 years 10.25 (BMPLR-2.00)
Above 5 & up to and inclusive of 10 years 10.50 (BMPLR-1.75)
Above 10 years (Max. 20 years) 10.75 (BMPLR-1.50)
NOTE: Fixed rate of Interest is dispensed for sanction after 01.04.2006
PRE-PAYMENT CHARGES:
Pre-payment charges are to be levied in case of premature closure of term loan by the borrower in cases where the term loan is closed either from his own sources of funds or by way of takeover by other Banks.The Prepayment charges of 2.00% flat on the prepaid amount are applicable for all Term loans including loans sanctioned under Personal Banking Schemes, Housing loans, Term loans against Rent Receivables and Rural go downs where the repayment period is fixed beyond 36 months.
Administrative Charges
Housing Loans:
PROCESSING CHARGES Will be collected at the time of processing of application
ADMINISTRATIVE CHARGES Per quarter per a/c. Per annumPer account.
Up to Rs.10.. lacks: 0.50%. Rs.100/- Rs.400/-
Above Rs.10 lacks & up to Rs.15 lacks: 1.00% . Rs.150/- Rs. 600/-
Above Rs.15 lacks : 1.50%. Rs.250/- Rs. 1000/-.
The 'administrative charges' will be collected on quarterly basis
We "take over" your high cost loans at our low cost rates.
Monday, May 26, 2008
ANDHRA BANK-LOAN TO NURSES
"AB Nightingale" - Loans to Nurses
"AB NIGHTINAGLE" is a scheme through which our bank is giving edge to Indian Nurses in International market. Keeping in view the large demand of nurses overseas bank has come up with the tailor made scheme which suits best to Indian Nurses.
Purpose for availing loan:
For purchasing vehicle.
For purchasing of consumer durables.
To meet other household/ Personal expenses, contingencies etc.
To travel abroad for taking up employment.
* Facility available in specific branches only.
Terms and conditions apply.
"AB NIGHTINAGLE" is a scheme through which our bank is giving edge to Indian Nurses in International market. Keeping in view the large demand of nurses overseas bank has come up with the tailor made scheme which suits best to Indian Nurses.
Purpose for availing loan:
For purchasing vehicle.
For purchasing of consumer durables.
To meet other household/ Personal expenses, contingencies etc.
To travel abroad for taking up employment.
* Facility available in specific branches only.
Terms and conditions apply.
ANDHRA BANK-LOAN FOR DOCTORS
AB Doctor +
"AB Doctor +" Provides finance to priority sector as well as on non-priority sector. The Purpose of the scheme is to enable the practitioner to setup their own clinics with all medical equipments, ambulances, computer, medical software etc.
We are financing to doctor & Medical Practitioner for Rural sector, Semi urban and urban sector.
For purchase of equipments.
Setting up clinic, X-ray, Pathological clinics, Policlinics etc.
For purchase of vehicle, ambulance, computers etc.
To purchase medical software.
Any other activities related medical profession.
Terms and conditions apply
"AB Doctor +" Provides finance to priority sector as well as on non-priority sector. The Purpose of the scheme is to enable the practitioner to setup their own clinics with all medical equipments, ambulances, computer, medical software etc.
We are financing to doctor & Medical Practitioner for Rural sector, Semi urban and urban sector.
For purchase of equipments.
Setting up clinic, X-ray, Pathological clinics, Policlinics etc.
For purchase of vehicle, ambulance, computers etc.
To purchase medical software.
Any other activities related medical profession.
Terms and conditions apply
ANDHRA BANK - CLEAN LOAN
MONEY WHEN YOU NEED
Nature of the Scheme:
Cash loan to IndividualsPurpose : To meet any genuine credit requirement of the borrower for personal purpose.
Quantum of Finance :
For Salaried Persons:
Fresh Finance: 8 times gross salary subject to maximum of Rs. 1,00,000 /-
Repeat Finance: 10 times gross monthly salary.
For Non Salaried Persons : 2 times average annual proven income subject to a maximum
loan of Rs. 50,000 /-. (Annual income as average of last three
years income shown in IT returns/ assessment orders).
For Pensioners: 8 times of monthly pension.
Repayment: 60 months (EMI)
Take home pay: 40% after the proposed installment in case of salaried persons.
Interest rate: As applicable on the date of loan.
Co-obligation: Husband/ Father or any third party acceptable to the bank.
Security : Nil
Charges: Processing and service charges as applicable.
Renewal Facility: Renewal facility can be allowed only after 1/3rd of the
stipulated repayment period of loans is lapsed and the
installments are regular and up to date.
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch. Branch Functionaries will clarify any issue relate to Clean Loans.
Nature of the Scheme:
Cash loan to IndividualsPurpose : To meet any genuine credit requirement of the borrower for personal purpose.
Quantum of Finance :
For Salaried Persons:
Fresh Finance: 8 times gross salary subject to maximum of Rs. 1,00,000 /-
Repeat Finance: 10 times gross monthly salary.
For Non Salaried Persons : 2 times average annual proven income subject to a maximum
loan of Rs. 50,000 /-. (Annual income as average of last three
years income shown in IT returns/ assessment orders).
For Pensioners: 8 times of monthly pension.
Repayment: 60 months (EMI)
Take home pay: 40% after the proposed installment in case of salaried persons.
Interest rate: As applicable on the date of loan.
Co-obligation: Husband/ Father or any third party acceptable to the bank.
Security : Nil
Charges: Processing and service charges as applicable.
Renewal Facility: Renewal facility can be allowed only after 1/3rd of the
stipulated repayment period of loans is lapsed and the
installments are regular and up to date.
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch. Branch Functionaries will clarify any issue relate to Clean Loans.
ANDHRA BANK- VEHICLE LOAN
ADDING MOBILITY TO YOUR LIFE
Nature of the Scheme: 2 wheeler and 4 wheeler loans to Individual
Eligibility: Any individual having minimum gross income of Rs. 1.00 lack per annum for 4 wheelers and Rs. 60,000 /- p.a for 2 wheelers.
Margin amount: 10% on road price
Quantum of Finance:
New Vehicle: 90% of road price which includes invoice price, Life tax, Registration charges, Insurance and accessories or 3 years gross salary whichever is lower for 4 wheelers.
90% of road price which includes invoice price, Life tax, Registration charges, Insurance and accessories or Rs. 60,000 /- whichever is lower for 2 wheelers.
Second Sale: (not more than three years old): 60% of garage value or Rs. 5, 00,000 /- whichever is lower.
Accessories: not exceed Rs. 5,000 /- for 4 wheelers & Rs. 1,000 /- for 2 wheelers.
Repayment
For 4 wheelers (New) - minimum 12 months and maximum 72 months (EMI).
For 4 wheelers (Second sale) - 60 months EMI.
For 2 wheelers - minimum 12 months and maximum 60 months (EMI)
Interest rate: As applicable on the date of loan
Co-obligation: Third party acceptable to the bank for both 4 and 2 wheeler.
Security : Hypothecation of vehicle purchased
Documents: Valid driving license
Proof of Income : Salary Slip/ IT Returns/ Assessment Order, Proforma Invoice.
Valuation certificate from reputed garage for second sale.
Charges: Processing and Administrative charges as applicable.
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.
Nature of the Scheme: 2 wheeler and 4 wheeler loans to Individual
Eligibility: Any individual having minimum gross income of Rs. 1.00 lack per annum for 4 wheelers and Rs. 60,000 /- p.a for 2 wheelers.
Margin amount: 10% on road price
Quantum of Finance:
New Vehicle: 90% of road price which includes invoice price, Life tax, Registration charges, Insurance and accessories or 3 years gross salary whichever is lower for 4 wheelers.
90% of road price which includes invoice price, Life tax, Registration charges, Insurance and accessories or Rs. 60,000 /- whichever is lower for 2 wheelers.
Second Sale: (not more than three years old): 60% of garage value or Rs. 5, 00,000 /- whichever is lower.
Accessories: not exceed Rs. 5,000 /- for 4 wheelers & Rs. 1,000 /- for 2 wheelers.
Repayment
For 4 wheelers (New) - minimum 12 months and maximum 72 months (EMI).
For 4 wheelers (Second sale) - 60 months EMI.
For 2 wheelers - minimum 12 months and maximum 60 months (EMI)
Interest rate: As applicable on the date of loan
Co-obligation: Third party acceptable to the bank for both 4 and 2 wheeler.
Security : Hypothecation of vehicle purchased
Documents: Valid driving license
Proof of Income : Salary Slip/ IT Returns/ Assessment Order, Proforma Invoice.
Valuation certificate from reputed garage for second sale.
Charges: Processing and Administrative charges as applicable.
Other Terms and Conditions apply.
This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.
ANDHRA BANK
The following loan schemes are offered by Andhra Bank.
Car Loan
Clean Loan
Doctor +
Home Loan
Mortgage Loan
Nightingale (Loan to Nurses)
Other Schemes
Personal Loan
Pattabhi Vidya Jothi
Vanitha Vahan
Car Loan
Clean Loan
Doctor +
Home Loan
Mortgage Loan
Nightingale (Loan to Nurses)
Other Schemes
Personal Loan
Pattabhi Vidya Jothi
Vanitha Vahan
Friday, May 23, 2008
ALLAHABAD BANK
Loans/ Finance
Saral Loan
All permanent employees of reputed public sector/ private institutions/ organizations, whose salary are disbursed through our branches or not disbursed through our branches but they are ready to enter into tie up for remitting the salary. The amount is 24 months net salary or maximum Rs.300, 000 whichever is less. Minimum Rs.40, 000. The borrower can avail 50% of the eligible amount may be awaited for meeting personal needs.
Consumer Loan
Salaried persons with gross salary of As. 7000/- and above per month and repayable in 36 EMI. Maximum loan amount is As. 40,000/- and can be availed in cash or in kind. This scheme is open to full-time permanent employees of existing corporate clients of Allah bad Bank. The scheme also covers such employees of reputed organizations where the employer undertakes to deduct the installments from employee's salary and remit the same to our Bank for credit of his/ her loan account with us.
Car Finance
All Professionals/ Self Employed/ businessmen who are Income Tax assessee, Agriculturists having minimum 5 acres of irrigated land, salaried persons with minimum income of as 10,000/- p.m. are eligible for the loan. The amount for loan is 85% of the cost of the vehicle to be purchased, subject to a maximum of 2 times of net annual income/ net annual salary.
Housing Loan Scheme
The loan is available to Salaried individuals (with recovery tie-up of salaries/ without tie-up of salaries), professionals/ self-employed persons and businessmen who are Income Tax assessee. Quantum of loan depends upon the repayment capacity of the borrower within a maximum period of 20 years or length of remaining service, whichever is less. Repayments options for salaried persons desirous to extend the repayment period beyond the date of retirement will be eligible up to 5 years after the retirement. Availability of progressive monthly installment under the scheme.
Educational Loan
To provide financial assistance on reasonable terms to needy and meritorious students to pursue Higher/ Professional/ Technical Education up to Rs.15 lacks for abroad in the form of a package including tuition fees and other charges payable to the institute or expense required to complete the course.
Personal Loan Scheme for Pensioners
All State Government and Central Government pension holders with age not exceeding 70 years having back up family pension facility and drawing pension from Allah bad Bank branches/other banks/Post Offices are eligible for loan of 10 times of pension subject to maximum As. 75,000/- and minimum As. 20,000/-. The loan is repayable in maximum 36 Equated Monthly Installments. Allah bad Bank's pensioners (ex-employees) are also eligible for the loan. Person/s drawing pensions from other banks/ Post Offices shall have to furnish collateral security amounting to 50% of loan amount by way of FDA/ NSC/ KVP/ LIP (surrender value). The borrower is automatically covered under Accidental Death Insurance of As. 1 lack.
Other retail products are available to fulfill various needs of consumer.
Saral Loan
All permanent employees of reputed public sector/ private institutions/ organizations, whose salary are disbursed through our branches or not disbursed through our branches but they are ready to enter into tie up for remitting the salary. The amount is 24 months net salary or maximum Rs.300, 000 whichever is less. Minimum Rs.40, 000. The borrower can avail 50% of the eligible amount may be awaited for meeting personal needs.
Consumer Loan
Salaried persons with gross salary of As. 7000/- and above per month and repayable in 36 EMI. Maximum loan amount is As. 40,000/- and can be availed in cash or in kind. This scheme is open to full-time permanent employees of existing corporate clients of Allah bad Bank. The scheme also covers such employees of reputed organizations where the employer undertakes to deduct the installments from employee's salary and remit the same to our Bank for credit of his/ her loan account with us.
Car Finance
All Professionals/ Self Employed/ businessmen who are Income Tax assessee, Agriculturists having minimum 5 acres of irrigated land, salaried persons with minimum income of as 10,000/- p.m. are eligible for the loan. The amount for loan is 85% of the cost of the vehicle to be purchased, subject to a maximum of 2 times of net annual income/ net annual salary.
Housing Loan Scheme
The loan is available to Salaried individuals (with recovery tie-up of salaries/ without tie-up of salaries), professionals/ self-employed persons and businessmen who are Income Tax assessee. Quantum of loan depends upon the repayment capacity of the borrower within a maximum period of 20 years or length of remaining service, whichever is less. Repayments options for salaried persons desirous to extend the repayment period beyond the date of retirement will be eligible up to 5 years after the retirement. Availability of progressive monthly installment under the scheme.
Educational Loan
To provide financial assistance on reasonable terms to needy and meritorious students to pursue Higher/ Professional/ Technical Education up to Rs.15 lacks for abroad in the form of a package including tuition fees and other charges payable to the institute or expense required to complete the course.
Personal Loan Scheme for Pensioners
All State Government and Central Government pension holders with age not exceeding 70 years having back up family pension facility and drawing pension from Allah bad Bank branches/other banks/Post Offices are eligible for loan of 10 times of pension subject to maximum As. 75,000/- and minimum As. 20,000/-. The loan is repayable in maximum 36 Equated Monthly Installments. Allah bad Bank's pensioners (ex-employees) are also eligible for the loan. Person/s drawing pensions from other banks/ Post Offices shall have to furnish collateral security amounting to 50% of loan amount by way of FDA/ NSC/ KVP/ LIP (surrender value). The borrower is automatically covered under Accidental Death Insurance of As. 1 lack.
Other retail products are available to fulfill various needs of consumer.
Personal Finance
Bank Accounts-› Credit Cards-› Car Loans-› Home Loan
Insurance:
Life insurance is one of the most popular savings/ investment vehicles in India. Ironically its probably the least understood too.
Business in India
Investment in Indian market-› Foreign Direct Investment (FDI)
Invest Opportinities in India
Foreign Investment-› Foreign Investment - Policies and Procedures-› Potential for investment in India
Bank Accounts-› Credit Cards-› Car Loans-› Home Loan
Insurance:
Life insurance is one of the most popular savings/ investment vehicles in India. Ironically its probably the least understood too.
Business in India
Investment in Indian market-› Foreign Direct Investment (FDI)
Invest Opportinities in India
Foreign Investment-› Foreign Investment - Policies and Procedures-› Potential for investment in India
Sunday, May 18, 2008
RBI GUIDELINES TO BORROWERS
Few recent incidents, which were blatantly outrageous and unlawful have prompted sharp reactions from the RBI, which later formulated guidelines for loan recovery agents and a strict warning of banning the recovery agents if the banks didn't follow them diligently. But many bankers’ feel that the whole process of loan recovery can't be put in a formal framework or bound by guidelines due to the inherent nature of the work involved. Any such step could encroach on the autonomy of the banks and hamper recovery efforts.
However subtle it may be but loan recovery will always involve some element of pressure and coercion because it involves a borrower who has defaulted and the money has to be recovered from him. Bankers believe that without sufficient incentives and targets, the recovery procedure won't be possible at all. Loan recovery process is just like another job where targets are set and incentives are paid to those who achieve the targets. But all this should be within the legal framework and a line should be drawn between the acceptable and the avoidable.
The RBI guidelines that every borrower should be informed about the loan recovery agents, only one number should be used to make recovery calls, borrowers shouldn't be contacted during odd hours and the process should be carried in a 'civilized' way are definitely good but leave much room for manipulation.
A defaulter will definitely avoid phone calls and will have to be pursued to get back the money. This will often involve some tracing and tracking of the borrower even if it means contacting him at odd hours. Another concern of the bankers is that willful defaulters will use these guidelines to get around the entire loan recovery process by crying foul every time they are confronted by such efforts. They can claim being harassed by the agents whenever they are reminded about over dues or default.
What needs to be understood here is that loan recovery is an essential part of lending process and adherence to the rule of law and avoidance of intimidation and questionable methods will definitely help. Properly trained loan recovery officers following the RBI's guidelines in both letter and spirit, will help rebuild the confidence among borrowers.
However subtle it may be but loan recovery will always involve some element of pressure and coercion because it involves a borrower who has defaulted and the money has to be recovered from him. Bankers believe that without sufficient incentives and targets, the recovery procedure won't be possible at all. Loan recovery process is just like another job where targets are set and incentives are paid to those who achieve the targets. But all this should be within the legal framework and a line should be drawn between the acceptable and the avoidable.
The RBI guidelines that every borrower should be informed about the loan recovery agents, only one number should be used to make recovery calls, borrowers shouldn't be contacted during odd hours and the process should be carried in a 'civilized' way are definitely good but leave much room for manipulation.
A defaulter will definitely avoid phone calls and will have to be pursued to get back the money. This will often involve some tracing and tracking of the borrower even if it means contacting him at odd hours. Another concern of the bankers is that willful defaulters will use these guidelines to get around the entire loan recovery process by crying foul every time they are confronted by such efforts. They can claim being harassed by the agents whenever they are reminded about over dues or default.
What needs to be understood here is that loan recovery is an essential part of lending process and adherence to the rule of law and avoidance of intimidation and questionable methods will definitely help. Properly trained loan recovery officers following the RBI's guidelines in both letter and spirit, will help rebuild the confidence among borrowers.
Tuesday, May 13, 2008
सबी एंड ASSOCIATES
SBI and Associates
1. State Bank of India
2. State Bank of Bikaner and Jaipur
3. State Bank of Hyderabad
4. State Bank of Indore
5. State Bank of Mysore
6. State Bank of Patiala
7. State Bank of Saurashtra
8. State Bank of Travancore
1. State Bank of India
2. State Bank of Bikaner and Jaipur
3. State Bank of Hyderabad
4. State Bank of Indore
5. State Bank of Mysore
6. State Bank of Patiala
7. State Bank of Saurashtra
8. State Bank of Travancore
BANKS AND FINANCIAL INSTITUTIONS
• Co-operative Banks
• Financial Institutions
• Foreign Banks
• Lending/Interest Rate
• Nationalized Banks
• Post Office Saving Banks
• Private Banks
• Public Sector Banks
• Regional Rural Banks
• Reserve Bank of India
• Scheduled Commercial Banks
• Small Savings
A list of Banks was already published.
List of other financial institutions is as follows.
All Financial Institutions
• Export Credit Guarantee Corporation (ECGC)
• Export Import Bank (Exim Bank)
• Industrial Credit and Investment Corporation of India (ICICI)
• Industrial Credit and Investment Corporation of India Ventures (ICICI Ventures)
• Industrial Development Bank of India (IDBI)
• Industrial Finance Corporation of India (IFCI)
• Industrial Investment Bank of India (IIBI)
• Infrastructure Development Finance Company (IDFC)
• Investment by Insurance Companies
• National Bank of Agriculture and Rural Development (NABARD)
• National Housing Bank
• National Small Industries Corporation (NSIC)
• Non-Banking Financial Company (NBFC)
• North Eastern Development Finance Corporation (NEDFC)
• Risk Capital and Technology Finance (RCTF)
• Small Industries Development Bank of India (SIDBI)
• State Financial Corporations (SFCs)
• State Industrial Development Corporations (SIDCs)
• Tourism and Finance Corporation of India (TFCI)
Unit Trust of India (UTI)
• Financial Institutions
• Foreign Banks
• Lending/Interest Rate
• Nationalized Banks
• Post Office Saving Banks
• Private Banks
• Public Sector Banks
• Regional Rural Banks
• Reserve Bank of India
• Scheduled Commercial Banks
• Small Savings
A list of Banks was already published.
List of other financial institutions is as follows.
All Financial Institutions
• Export Credit Guarantee Corporation (ECGC)
• Export Import Bank (Exim Bank)
• Industrial Credit and Investment Corporation of India (ICICI)
• Industrial Credit and Investment Corporation of India Ventures (ICICI Ventures)
• Industrial Development Bank of India (IDBI)
• Industrial Finance Corporation of India (IFCI)
• Industrial Investment Bank of India (IIBI)
• Infrastructure Development Finance Company (IDFC)
• Investment by Insurance Companies
• National Bank of Agriculture and Rural Development (NABARD)
• National Housing Bank
• National Small Industries Corporation (NSIC)
• Non-Banking Financial Company (NBFC)
• North Eastern Development Finance Corporation (NEDFC)
• Risk Capital and Technology Finance (RCTF)
• Small Industries Development Bank of India (SIDBI)
• State Financial Corporations (SFCs)
• State Industrial Development Corporations (SIDCs)
• Tourism and Finance Corporation of India (TFCI)
Unit Trust of India (UTI)
Friday, May 9, 2008
LIST OF FOREIGN BANKS
SCHEDULED PRIVATE BANKS (FOREIGN BANKS)
1. Abu Dhabi Commercial Bank Ltd
2. ABN Amro Bank Ltd.
3. American Express Bank Ltd.
4. Bank of America NA
5. Bank of Tokyo Mitsubishi Ltd.
6. BNP Paribas
7. Barclays Bank
8. Citi Bank
9. Deutsche Bank
10. Hongkong and Shanghai Banking Corporation Ltd.
11. Societe Generale
12. Standard Chartered Bank
13. Internationale Netherlanden Bank NV (ING Bank)
14. J.P Morgan Chase Bank
15. Sumitomo Mitsui Banking Corpn.
16. Antwerp Diamond Bank N. V. Belgium
17. Calyon Bank
1. Abu Dhabi Commercial Bank Ltd
2. ABN Amro Bank Ltd.
3. American Express Bank Ltd.
4. Bank of America NA
5. Bank of Tokyo Mitsubishi Ltd.
6. BNP Paribas
7. Barclays Bank
8. Citi Bank
9. Deutsche Bank
10. Hongkong and Shanghai Banking Corporation Ltd.
11. Societe Generale
12. Standard Chartered Bank
13. Internationale Netherlanden Bank NV (ING Bank)
14. J.P Morgan Chase Bank
15. Sumitomo Mitsui Banking Corpn.
16. Antwerp Diamond Bank N. V. Belgium
17. Calyon Bank
LIST OS SCHEDULED BANKS
SCHEDULED PRIVATE BANKS (INDIAN BANKS)
1. Bank of Rajasthan
2 Bharat Overseas Bank Ltd.
3. Jammu & Kahmir Bank Ltd.
4. Karur Vysya Bank Ltd.
5. Vysya Bank Ltd
6. UTI Bank
7. INDUSIND Bank Ltd
8. ICICI Bank
9. HDFC Bank Ltd
10. Development Credit Bank Ltd
11. IDBI Bank Ltd
1. Bank of Rajasthan
2 Bharat Overseas Bank Ltd.
3. Jammu & Kahmir Bank Ltd.
4. Karur Vysya Bank Ltd.
5. Vysya Bank Ltd
6. UTI Bank
7. INDUSIND Bank Ltd
8. ICICI Bank
9. HDFC Bank Ltd
10. Development Credit Bank Ltd
11. IDBI Bank Ltd
DESCRIPTION
A list of banks which are offering different kinds of financial services, are given below
NATIONALISED BANKS
Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab and Sind Bank
Punjab National Bank
State Bank of Bikaner & Jaipur
State Bank of Hyderabad
State Bank of India (SBI)
State Bank of Indore
State Bank of Mysore
State Bank of Patiala
State Bank of Saurashtra
State Bank of Travancore
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
NATIONALISED BANKS
Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab and Sind Bank
Punjab National Bank
State Bank of Bikaner & Jaipur
State Bank of Hyderabad
State Bank of India (SBI)
State Bank of Indore
State Bank of Mysore
State Bank of Patiala
State Bank of Saurashtra
State Bank of Travancore
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
Monday, May 5, 2008
ABOUT LOANS
Loans borrowed from financial institutions are very useful, when it is availed at the time of emergency, at a smaller rate of interest and used properly. It will become hell and very dangerous, while loan availing is in recurrence and not utilised properly.
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