DNSB Gurukul-New Personal Loan Scheme

Eligibility

Parents of the Students studying at school

Purpose

For payment of fees of school.

Loan Amount

2 years’ fees or Rs.2.00 lakh whichever is less.

Margin

@10% margin as per pro-rata disbursements made on pro-rata basis. Assistance/ Scholarship money can be treated as margin.

Interest Rate

@10.75 % p.a.

Repayment Period

To be repaid within 36 months including 6 months’ moratorium.

Security

No Security

Eligibility

      1. Existing or new account holders (KYC Complied) who have satisfactory track record either with our Bank or with other Bank.

      2. Residual Income must be Rs.7000/- after considering all existing deductions including deduction of EMI for proposed loan.

      3. Loan to be sanctioned upon obtaining standing instructions or ECS mandate of the Bank where the applicant borrower maintains his/ her account.

Documents to be obtained for Borrower & Guarantor

      1. KYC Documents.

      2. Income Papers viz. for Business persons copy of Current Financial Year’s income Tax Returns and for salaried persons copies of latest 3 month’s salary slip.

      3. If Applicant is not filling Income Tax Returns, applicant can submit Duly Notarized Self-Declared Affidavit declaring his/ her income. (During the period of lock down only ‘Self-Declared Affidavit’ declaring income to be obtained. After lifting of lock down “Notarized Self- Declared Affidavit” to be obtained.)

Guarantor

      1. Spouse to become co-borrower.

      2. If CIBIL Transunion Scores i.e. Credit Vision Score & Personal Loan Score of the Applicant is 750 or more, then No Guarantor Required.

      3. If CIBIL Transunion Scores i.e. Credit Vision Score & Personal Loan Score of the Applicant is below 750, then One Guarantor acceptable to the Bank to be obtained. Family member can be taken as a guarantor.

Processing Fee

No processing fee.

Other Charges

Rs.500/- + GST (inclusive of Visit, Service and CIBIL charges etc.)

Membership

      · Mandatory for Borrower/ co-borrower.

      · He/ She/ They should subscribe to linking shares @5% of the loan amount.

      · Guarantor to be enrolled as Nominal Member.