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Various retail loans
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Various retail loans

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  • 1. Various Retail Loans Dena Bank offers various loans to its customers. The following are the various schemes that are provided taking into considerations the requirements of its customers. 1. Dena Niwas Yojana- Housing Loan Scheme: SN TITLE 1 Reason 2 Eligibility EXPLANATION You can avail of Dena Niwas Home Loan to purchase a plot, construct a house, buy a ready built house or buy one under construction. The loan even helps you build an extension to your existing house or purchase a house that is up to 50 years old provided the remaining life of the house is more than 25 years. Besides you can take this loan for repairs and upgradation, which includes the cost of fixtures, POP works, retiling, fittings etc. It even gives you the option to shift an existing home loan with any other Bank or Financial Institution. • You are a major individual, resident or non-resident, having a regular source of income. • • Loan Amount The total deductions do not exceed 60% of your gross income, including the loan installment of the proposed loan. • 3 Your age on the maturity of the loan is less than retirement age if you are a salaried employee & below 65 years, if you have a business. Spouses/Co-applicants income can be clubbed for enhanced eligibility. Loans less than Rs.20 lakhs : 10% of cost of the house property (excluding stamp duty, registration charges, etc). • • 4 Margin 20 % Rs.20 lakhs & above : 20% of cost of the house property (excluding stampduty, registration charges, etc)
  • 2. 5 Rate of Interest Floating rate of interest upto Rs 25 Lakhs • • Upto 5 Yrs- 10.25% More than 5 Yrs upto 10 Yrs – 10.30% • More than 10 Yrs – 10.30% Floating rate of interest more than Rs 25 Lakhs upto 30 Lakhs • Upto 5 Yrs and more than 5 Yrs – 10.30% Floating rate of interest more than Rs 30 Lakhs • Repayable upto 5 YrsUpto Rs 75 Lakhs - 10.55% Above Rs 75 Lakhs - 10.80% • Repayable in more than 5 Yrs- Upto Rs 75 Lakhs - 10.55% But less than 10 Yrs • Above Rs 75 Lakhs - 10.80% Repayable more than 10 Yrs- Upto Rs 75 Lakhs - 10.55% Above Rs 75 Lakhs - 10.80% Fixed Rate of Interest upto Rs 25 Lakhs* • • Upto 5 Yrs- 11.25% (Fixed) More than 5 Yrs upto 10 Yrs – 11.25%(Fixed) • More than 10 Yrs – 11.25%(Fixed) Fixed Rate of Interest more than Rs 25 Lakhs upto Rs 30 Lakhs • Upto 5 Yrs- 11.25% (Fixed)
  • 3. • More than 5 Yrs upto 10 Yrs – 11.25%(Fixed) • More than 10 Yrs – 11.25%(Fixed) Fixed Rate of Interest more than Rs 30 Lakhs • • • 6 Repayment 7 Upto 5 Yrs- 11.75% (Fixed) More than 5 Yrs upto 10 Yrs – 11.75%(Fixed) More than 10 Yrs – 11.75%(Fixed) * Note: The fixed rate of interest is to be reset after every 3 years. At the time of reset it should be fixed by the same spread of the Base Rate applicable on the date of reset as was applicable at the time of sanction. • Upto 25 years-for the purchase of a new flat/house/construction/extension. Security • Upto 10 years- for repairs, renovation and upgradation. Simple equitable mortgage of the house/flat/apartment on which the loan is availed. 8 Process Fees 0.50% of sanctioned limit. 9 10 11 Supervision charge Primary security Collateral security 12 Insurance 13 Documents 14 Maximum Rs. 500 (one time) Equitable mortgage of the property acquired by bank finance or any other property of the same value. Assignment of LIC policies, NSC, TDR, etc may be taken. It is preferable that spouse of the applicant should be made a coobligent. Insurance fo the property against fire, natural calamity, etc along with bank clause for the entire repayment period by payment of one time premium. Premium amount under this scheme is for providing property insurance and personal accident insurance cover for borrower to be included in the loan amount and EMI is to be fixed accordingly. • Term loan agreement • Letter of undertaking • Original title deed with 30 years search report, non encumbrance certificate. • Declaration letter from borrower. • Letter to be addressed by the bank to the borrower. • 20 years. Loan maturing age maximum 65 years or retirement
  • 4. repayment limit • age whichever is earlier. 10 years. Loan maturity age maximum 65 years or retirement age whichever is earlier.
  • 5. 2. Dena Consumer Durable Loan Scheme: SN TITLE 1 Reason 2 Eligibility 3 EXPLANATION Turn your home into a smart, modern one with Laptop, Washing Machine, Microwave, Fridge, TV, DVD Player, Music System, AC, Modern Furniture, Cooking Range, PC, Fitness Equipment or even a Mobile Handset. You have sufficient repayment capacity. Also, your spouse's income can be clubbed to enhance your eligibility. Loan Amount Upto Rs. 1 lakh 4 Margin 5 Rate of Interest 6 Repayment 7 8 Mode of Disbursement Security 9 Process Fees 20 % 13 % (fixed) in case of tie-up under Corporate salary scheme. 14 % (fixed) in all other cases. Upto 36 EMIs. Payment will be released to the dealer against proforma invoice. Hypothecation of consumer durables purchased. • Upto Rs. 25,000/-- Rs.250/• 10 Above Rs. 25,000/-- Rs.500/- Penalty 11 Documents 12 Maximum repayment limit 2 % per month on default installment. • Term loan agreement • Letter of undertaking • Original title deed with 30 years search report, non encumbrance certificate. • Declaration letter from borrower. • Letter to be addressed by the bank to the borrower. • Letter of hypothecation of consumer goods. • Undertaking from the employer for deduction of loan installment from salary and post dated cheques for entire repayment period along with irrevocable mandate letter. If employer is not issuing authority letter bank may issue the same.
  • 6. 3. Dena auto finance Scheme: SN TITLE 1 Reason 2 Eligibility EXPLANATION To purchase vehicles. • You have a gross income of more than Rs.75,000/- p.a. for loan for purchase of motor cycle / scooter and more than Rs.1.50 lacs p.a. for loan for purchase of cars. • 4 5 Loan Amount • • 3 You are a partnership firm / company for purchase of car. The firm / company should be profit making for the last 2 years. The net profit as per Audited Balance Sheet of last year should be more than Rs.3.00 lacs. Upto Rs. 50,000/- for purchase of a new two wheeler. Upto Rs. 8 lakhs for purchase of a new car. Margin Rate of Interest 20 % Two wheelers • Repayable upto 3 yrs • Repayable beyond 3 yrs Four wheelers • Repayable upto 1 yr • Repayable from 1 yr and upto 3 yrs • Repayable from 3 yr and upto 5 yrs Old vehicles(max 3 yrs old) • Repayable upto 1 yr • Repayable beyond 1 yrs and upto 3 yrs : 13.30% : 13.80% : 11% (fixed) : 11.50 % (fixed) : 12 % (fixed) : 12% (fixed) : 12.50%(fixed)
  • 7. 6 Repayment Upto 60 EMIs (For new vehicles) & upto 36 EMIs (For old Vehicles). 7 8 9 Mode of Disbursement Security Process Fees Loan disbursed directly to the authorized dealer. Hypothecation of the vehicle purchased. • Two wheeler- Rs. 500/• Four wheelers: o o 11 For loans above Rs. 2.50 lacs to Rs. 7.50 lacs, Rs. 1,500/- o 10 For loans upto Rs. 2.50 lacs, Rs. 1,000/-. For loans above Rs. 7.50 lacs, Rs. 2,500/-. Penalty Documents 2 % per month on default installment. • Letter of guarantee. • Confirmation of guarantee. • General letter of lien and set off from borrower as well as guarantor. 4. Dena Vidya Laxmi Educational Loan Scheme: SN TITLE 1 Reason 2 Eligibility EXPLANATION Ensure a bright future for your children. Provide them with the best of higher education in India or abroad. You are an Indian national and have secured admission to a professional or technical course in an Indian or Foreign university. Simply walk in with the marksheet of the qualifying exam and proof of admission. Study in India: Graduation courses, Post-Graduation courses, Masters & PhD, Professional courses. Study Abroad: Graduation : For job oriented professional / technical courses offered by reputed universities
  • 8. Post Graduation : MCA, MBA, MS etc. Courses conducted by CIMA-London, CPA in USA etc. 3 Loan Amount • • Upto Rs.10 lakhs for studies in India. Upto- Rs. 20 lakhs for studies abroad. 4 Expenses considered • • • • • • Fee payable to colleges/ schools/ hostels Examination/ Library/ Laboratory fees. Purchase of books, equipment, instruments and uniforms. Passage fare for travel abroad. Purchase of computers needed to complete the course. Any other expense to complete the course like study tours, project work, thesis etc. 5 Margin • Upto Rs. 4 lakhs- NIL for study in India and abroad. Above Rs. 4 lakhs- 5% for study in India and 15% for study abroad. • 6 Upto Rs. 4 lakhs• Repayable in 3 yrs • Repayable in more than 3 yrs : 11.80% : 11.80% Above Rs. 4 lakhs• Repayable in 3 yrs • Repayable in more than 3 yrs 7 Rate of Interest : 11.80% : 11.80% Process fees Rs.1000/- for studies abroad which is refundable on availing the limit. 8 Repayment For loans upto Rs.7.50 lakhs : Upto 10 years For loans above Rs.7.50 lakhs : Upto 15 years 9 10 Mode of Disbursement Security Disbursement is directly made to the college/ hostel authorities against their demand letters. • Parent / guardian will be treated as a principal borrower if the student is minor otherwise advance will be treated as joint loan. • Two creditworthy and independent guarantors acceptable to the bank. • Any other tangible security like immovable property, house property as collateral of suitable value will be obtained at the discretion of the bank if felt necessary and depending upon the
  • 9. merits of each case. • 11 Documents • • 12 Other terms • • • Suitable third party guarantee along with assignment of future income of the student for payment of installment. Educational loan agreement to be executed by the student and his/ her guardian s co borrower. Letter of guarantee and confirmation of guarantee from the third party in case of need. Documents for collateral securities (if taken) Periodic progress report to be obtained from educational institutions. The students who have already taken loan under this scheme for their graduation and like to pursue post graduation, the second loan may be sanctioned subject to following conditions: • The second loan will be given for perusing MBA, MCA, etc from college/ universities shortlisted by bank. • The borrower should have paid interest for the first loan. • Second loan is to be sanctioned by the next higher authority. Amount of loan should not exceed the maximum ceiling and subject to repayment capacity of the parents. • Repayment of earlier loan will be rescheduled suitably so that the installments for both the loans will being simultaneously. 5. Dena Suvidha (Personal Loan) Scheme: SN TITLE EXPLANATION
  • 10. 1 2 Reason Eligibility Dena Suvidha is the ideal way to fulfill personal needs of your family. Be it to finance a marriage or family function. To travel or celebrates a festival. For medical treatment or educational purposes. Or simply a vacation. Even an unforeseen event. Dena Suvidha (Personal) Loan is always there for all your needs. • You are a permanent employee between 24 to 55 years having worked for at least 2 years in a Govt. or PSU/ reputed organization. • • 3 Loan Amount You have a gross monthly income of at least Rs. 15,000/-. Income of any other earning member ( co-applicants) can be clubbed for enhanced eligibility. You can have a salary disbursement arrangement with us or provide an undertaking form your employer. Minimum- Rs. 15,000/- • • 4 Margin 5 Rate of Interest Upto- Rs. 1 lakh or 9 times the net monthly income whichever is less. NIL • • 6 13 % (fixed) in case of tie-up under Corporate salary scheme. 14 % (fixed) in all other cases. Repayment Upto 36 EMIs 7 8 Mode of Disbursement Security By credit to your Savings Bank account. Collateral securities like NSC, LIC policy and 3rd party guarantee may be obtained. No guarantee is required where there is undertaking from employer is available. 9 Process Fees 1 % of loan amount. 10 Penalty 11 Documents 2 % per month on default installment. • Loan agreement. • Letter of general lien and set off both from borrower and guarantor. • Letter of guarantee from one guarantor acceptable to the bank.
  • 11. 6. Dena Senior Citizen personal loan scheme to pensioners: SN TITLE 1 Reason 2 Eligibility EXPLANATION To meet any genuine credit requirement for personal purpose. • You are a pensioner of the State Govt., Central Govt. or PSU. • • Loan recovery period is not extending beyond 75 years of age. • Your take home pension is not less than 60% of your monthly pension after deduction of the loan installment. • 3 You are an ex-staff member with a pension account. Up to 6 months pension or Rs.1,50,000/-, whichever is less. Loan Amount 4 Margin 5 6 Rate of Interest Repayment NIL 14.55% Upto 24 EMIs 7 8 Mode of Disbursement Security By credit to your Savings Bank account. NIL 9 Process Fees 10 Penalty 11 Documents NIL 2 % per month on default installment. • Loan agreement. • Letter of general lien and set off both from borrower and guarantor. • Letter of guarantee for deduction of installments and post dated cheques. • Guarantors consent letter.
  • 12. 7. Dena Rent Scheme: SN TITLE 1 Reason EXPLANATION Landlords can make their property earn more money by availing Dena Rent Scheme against their rent receivable. 2 Eligibility You are a landlord- an individual, corporate, trust or anybody who has given their property on rent to banks, FIs, PSUs or reputed companies. • Minimum- Rs. 1 lakh 3 Loan Amount 4 Margin 5 10% of present value of net rentals Rate of Interest Where Dena Bank is tenant• Repayable in 3 yrs • Upto- Rs. 500 lakhs : 14.3%
  • 13. • : 14.80% : 15.05% Repayment 7 : 14.55% Where Dena Bank is not the tenant• Repayable in 3 yrs • Repayable in more than 3 yrs 6 Repayable in more than 3 yrs Insurance Upto 120 EMIs or residual lease period whichever is less. Insurance of the property against natural calamities, fire and other risks. 8 Security Equitable mortgage of property. 9 10 Process Fees Documents 0.50% • • • • Term loan agreement. Letter of assignments for lease rentals. Power of attorney and consent letter from tenant. Mortgage of the property.