Consumer Durable Loans

Eligibility	Nominal Member of the Bank
Purpose	For purchase of consumer durables & Household articles such as T.V. Refrigerators, Music systems, Computer System, Laptops, Furniture - Sofas, Recliners
Amount	Maximum Rs. 1,00,000/-
Margin	5% - For Existing Clients with good Track Record 10 % - New Clients
Repayment	Maximum 24 monthly equated Installments. Standing Instructions for Existing Clients PDC's to be obtained for New Clients.
Processing Fees	Nil - Existing Clients Rs.500/- plus Tax - For New Clients
Rate of Interest	11% p.a - For Existing Clients with good Track Record 12%p.a - For New Clients
Disbursement	Direct to the Dealer/Supplier against Invoice. Suitable Tie Up to be made by the Bank for respective Product Dealer.
Security	Hypothecation of House-Hold Articles purchased.
Guarantors	One Guarantor acceptable to the Bank (Outside the Family Guarantor compulsory)
Documentation	Demand Promissory Note Undertaking by Borrower & Guarantors Loan Agreement Surety Bond Letter of Hypothecation Letter of Lien and Set-off Letter of Set- off and Appropriation Sec 49(3) letter to be taken if Salaried Person. (Maximum Rs.500/-)
Miscellaneous	Residence proof & Photo Identity Proof of Borrower & Guarantors to beobtained. - Income Proof of Borrower & Guarantors to be obtained - ProformaInvoice. - Bank A/c Statement of Borrower for last 6 months. - Verify genuineness of dealer. - Pre-Visit to Residence of Applicant Compulsory
Sanctioning Authority	Branch Manager/Branch In-charge.