J&K Bank Laptop/PC Finance Scheme: Check Eligibility, Rate Of Interest

J&K Bank Laptop/PC Finance Scheme: Check Eligibility, Rate Of Interest

NATURE OF FACILITY

  • TERM LOAN.

PURPOSE

  • To provide finance for purchase of Laptop/ PCs / Netbooks / Tablets.

ELIGIBILITY

  • Permanent Employees, Contractual employees, Professionals, Self-employed Individuals, Proprietorship concerns, Teachers under Rehaber-a-Taleem J&K Govt., Officials under Rehaber-a Zeerat , J&K Govt.,  Pensioners drawing their monthly pension through our bank.
  • Employees of Private Limited Companies, Private Organization, Reputed Establishments.
  • Regular students of recognised schools, colleges & universities.
  • Regular teachers of recognised private schools (must be permanent residents of Union Territories of J&K and Ladakh).

Read Also:JK Bank MPAY Transaction Limit And Charges Check Here

AGE OF THE APPLICANT

  • Minimum age: 18 years.
  • Maximum age at loan maturity: For employees Date of retirement or 60 Years whichever is earlier.
  • For others: 70 years.

QUANTUM OF FINANCE

  • Maximum of Rs.1,50,000/=.

MARGIN

  • 10%.

SECURITY

PRIMARY:

  • NIL for loans up to Rs. 50000/-
  • Hypothecation of Laptop/PC/Netbook/ be purchased, if loan amount is above Rs. 50,000.00

COLLATERAL:

  • Nil for:
    • Government employees drawing salary through our Branches & where letter of confirmation is available.
    • Platinum / Gold / Premium plus Current account holders, having maintained satisfactory accounts for at least last 6 months.
    • Cash Credit / SOD account holders having a sanctioned limit above Rs 5 lacs and minimum average utilization percentage above 60% from at least 6 months prior to this facility.
    • Customers having Fixed Deposit accounts of value more than Rs. 5 Lakh in the Business unit sanctioning the facility. The deposit should be more than 3 months old at the time of disbursement of the loan.
  • Third Party Guarantee of one person for all other categories.

 

PROCESSING CHARGES

  • NIL

RATE OF INTEREST (SUBJECT TO CHANGE)

  • 3 year MCLR plus 2.50%, fixed.

REPAYMENT

  • 12 to 48 months in equated monthly installments.
  • No Pre-payment Charges

MORATORIUM PERIOD

  • Nil
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