#1
8th December 2015, 12:00 PM
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South Indian Bank Millionaire Scheme
Can you tell me in detail about the Personal Loan Scheme of SIB (South Indian Bank) as I am planning to apply for the scheme to start up my new Business, please help me with this?
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#2
8th December 2015, 12:21 PM
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Re: South Indian Bank Millionaire Scheme
For meeting personal / family finance requirements including expenses towards purchase of household articles/ white goods / electronic / computer equipments, peripherals/ expenses for medical treatment / inland or foreign leisure travel / inland or foreign business travel / travel abroad on employment contract, etc. there is a facility of Personal Loan Scheme of SIB (South Indian Bank). Target group There shall be two types of Personal Loans. (i) Individual Loans Individuals permanently employed in reputed companies / firms / organizations / Government service having remaining period of service equal to the repayment period. Practicing / employed Doctors - having professional Medical Degree Business men Other categories having sufficient income /IT Return and who are capable of remitting EMIs. NRIs (ii) Group Loans to permanent employees of GOI and State Government , PSUs, Blue Chip companies and reputed institutions etc Maximum quantum of loan Maximum Rs. 3.00 lacs subject to the following : Salaried persons : 15 times of the monthly net salary excluding the proposed loan deductions subject to a maximum of Rs.3.00 lacs Persons engaged in business/profession and filing IT Returns : Equal to the annual income declared as per the latest IT Return (without considering capital gains) subject to a maximum of Rs.3.00 lacs. Persons travelling abroad on employment contract : 75% of total expenses / 5 times of monthly salary whichever is lower as per contract terms subject to a maximum loan of Rs. 3.00 lacs. NRIs : 50% of the average annual remittance to their NRI account /spouse’s domestic account (excluding bulk remittance) subject to a maximum loan of Rs. 3.00 lacs. Persons who do not come under the tax bracket and gives a declaration to that effect : Equal to the annual income declared by the applicant supported by appropriate documents to the satisfaction of the Branch Manager, subject to a maximum loan of Rs.3.00 lac South Indian Bank Personal Loan Scheme Last edited by Kiran Chandar; 8th December 2015 at 12:25 PM. |