Consumer Durable Loan

Consumer durables loan is available up to Rs: 1/- lakh for purchase of T.V., Refrigerator, Furniture, Computer, Musical System, A.C. etc.

Applicant Details :

Copy of income tax return.
Bank statement of last two years.
Copy of PAN card.
2 Copies of Photograph
Address proof – electric bill /telephone bill (any one)
Photo proof – Pan card / Voter card / Driving license (Any one)

Guarantor Details :

Photograph ( 2 Copies )
Last tax bill
Last income tax return copy
Address proof – electric bill /telephone bill (any one) As per KYC norms
Photo proof – Pan card / Voter card / Driving license (Any one) As per KYC norms

Conditions :

Applicant has to provide one guarantor.
Loan is to be repaid along with interest within 36 equal monthly instalments.
The goods/items purchased are to be hypothecated with the bank.
Applicant has to submit quotation for the item to be purchased, bank will keep margin of 30% Margin amount is required to be deposited with the bank.
Bank will make direct payment to the dealer.
Applicant has to give 36 cheques in advance for payment of instalments.
Applicant has to take share @ 2 % of the limit with maximum if Rs: 10,000/-