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  #1  
11th April 2016, 12:56 PM
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Sbt Bank Loan

Hello sir my mother wants to take Personal Loan through State Bank of Travancore so provide the Interest Rates of SBT Personal Loan (Normal,Elite,Corporate)?? Give your feedback?
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  #2  
11th April 2016, 12:58 PM
Super Moderator
 
Join Date: May 2012
Re: Sbt Bank Loan

Here is Interest Rates: SBT Personal Loan (Normal,Elite,Corporate)

With full check off facility
Demand Loan – 3.25% above Base Rate :13.20 %p.a
Overdraft – 3.50% above SBT Base rate :13.45% p.a
No check off facility
Demand Loan – 3.75% above base rate -13.70 % p.a
Overdraft – 4.00% above SBT Base rate :13.95% p.a

Amount Of Loan
15 times of the net monthly salary / income, Minimum Rs.10,000/- and Maximum Rs.2,00,000/-
MARGIN - NIL
REPAYMENT
6 to 60 months in Equated Monthly Installments.
SECURITY
Primary – Nil
Collateral –

Equitable Mortgage of property having value minimum 200% of the loan amount.

OR
Third party guarantee of two or more persons of sufficient worth acceptable to the Bank
OR

a) Check off facility with one personal guarantee for loan amount upto Rs.1 lac

b) Check off facility with one or two personal guarantee of sufficient worth for loan amount above Rs.1 lac.

Processing Charges-
Loans upto Rs.25,000/- = Rs.115/-
Above Rs.25,000/- = Rs.280/-
PAPERS TO BE SUBMITTED TO THE BANK
Application form (in duplicate) and two passport size photographs
Proof of income
In the case of salaried persons
Salary Certificate showing deductions.

Authorisation to deduct monthly installments from the salary of the employee for credit of the loan account where check-off facility is available.

Standing instruction to transfer monthly instalments from the salary account.

For mortgage of property-
Original and prior title deeds.
Latest tax receipts
Possession Certificate
Encumbrance certificate for the last 15 years from the Sub-Registrar.
Valuation report from the banks approved valuator.


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