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[QUOTE=MariPriya;177593][B]Personal Loan[/B] [B]Purpose[/B] ** Personal needs of individuals [url]http://www.federal-bank.com/Personal_Loans_PersonalLoan.aspx[/url] [B]Loan Amount[/B] ** Up to Rs 2 Lakhs [B]Eligibility[/B] ** Salaried group (permanent confirmed employees with a future service of minimum one year) ** Basic Pay not less than Rs 2,000 Total deduction towards loans including the present loan should not exceed 50 % of gross salary. ** If husband and wife are salaried and both join the documents, their combine income can be considered for fixing loan amount. For others annual income should not be less than Rs 1 Lakh and minimum net worth should be double the loan amount. ** Minimum 100% collateral security is required. ** Loans to NRIs are to be covered by collateral securities in the name of borrowers it self. [B]Quantum of finance[/B] ** 6 times monthly salary or 50 % of annual income of previous year [B]Margin[/B] **No margin is required. [B]Period[/B] ** Up to Rs 50,000 - 30 months ** Above Rs 50,000 - 60 months [B]Rates & Interest[/B] ** Please refer rates & charges page [B]Repayment[/B] ** Equal Monthly Installments (EMI ) [B]Proof of income[/B] ** Salaried residents – Salary Certificate and wherever applicable, supported by Form No.16 / IT returns / Tax paid challans. ** Employees of State / Central Government / Public Sector Undertakings - Where there is difficulty in getting salary certificate, salary slip will be sufficient. ** Salaried NRIs - Latest Salary slip supported by remittance in NRE account with us & Copy of Identity card issued by Employer. ** Others - Previous two financial year's IT returns or Audited Balance Sheet & Profit and Loss Accounts of the individual / firm / business concern. [B]Co-obligants & Security[/B] ** For residents, spouse should join as co-obligant. Collateral security is required to cover the loan amount ** For non-residents, spouse should join as co-obligant and Collateral security in the name of NRI borrowers is required to cover the loan amount [B]Contact Us[/B]: The Federal Bank Limited Jawaharlal Nehru Rd, Vadapalani Chennai, Tamil Nadu[/QUOTE]
