Changing Lifestyles - Corp Consumer
Taking cognizance of the needs of your changing lifestyles, Corporation Bank has created a simple loan scheme to make your day to day living more comfortable. In today's age of competition, the choices are many. With Corp Consumer, you can instantly bring home the consumer durables of your choice - from TV, refrigerator, CD/DVD player, mobile phone and washing machines to Personal Computers and furniture. Avail Corp Consumer loan and enjoy a better life.
1. Eligibility : Individuals with minimum gross income of Rs. 50,000/- p.a.
Salaried persons should be confirmed in service.
2. Purpose : To finance purchase of consumer durables such as Refrigerator, Cooking range, Food Processor, Grinder, Television, Electronic Audio System, Washing Machine, ACs, Microwave oven, Lap Top/ PCs including accessories, Mobile Phone, Multi Media Kits, UPS, Digital Camera, Generators, Hand Video Camera and furniture.
3. Loan Amount : Maximum Rs.1 lakh.
4. Margin : Minimum 15 % of the invoice value
5. Rate of Interest : 13.00% w.e.f. 03.02.2009
6. Security : Hypothecation of the item(s) purchased from Bank's finance.
7. Guarantee : Suitable third party guarantee.
C-Home borrowers no guarantee but continuity letter of EMG.
8. Repayment : Maximum 36 months in EMIs [ Up to 60 months at Manager's discretion ].
EMI not to exceed 50% of Take Home Pay.
Post dated cheques for all cases except where there is an undertaking to route through salary/ installments by employer.
9. Service Charges : Rs. 500/- irrespective of the loan amount.
No comments:
Post a Comment