Pandinadu Loan Schemes

Pandinadu Loan Schemes

Terms & Conditions

 

EligibilityAny Individual/Enterprise who has legal borrowing power
Quantum of credit

Maximum Rs.40 lakhs – for new vehicle

Maximum Rs.5 lakhs – for used vehicle

Margin

New vehicle –    20%  for vehicle and

25% for body building

Used vehicle – 50% (vehicle should be valued by Valuer and Manager)

Requisites

(In addition to KYC)

(i) CIBIL report

(ii) Net worth statement

(iii) IT return – if available

(iv) Bank account statement for last 6 months

(v) Loan passbook if any loan is availed with bank or any other financial institution.

CONDITION:

EMI of all loans put together should not exceed 30% of the net income of the borrower.

The Financed vehicle must be hypothecated to the company.

Repayment period
For new vehicleMaximum 60 Months
For Used VehicleMaximum 36 Months or residual life of the vehicle as per Valuer, less 12 months whichever is earlier.
Terms of repaymentRepayable in EMI
Rate of Interest
For new vehicle
Upto 36 months16%
Upto 60 months19%
For Used Vehicle
Upto 36 months19%
Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

 

PurposeTo purchase consumer durables/ house hold articles etc.
EligibilityAny Individual who has legal borrowing power
Loan Amount75% of the value of the item to be purchased – Maximum Loan amount – Rs.50,000/-
PeriodWithin 36 months.
Rate of Interest

TENOR  & RATE OF INTEREST IN %

12 Months

24 Months

36 Months

18

21

24

Processing Fee1%of Loan amount sanctioned plus GST
GuaranteePersonal Guarantee to be obtained from Spouse / Father / Son of the borrower
Penal chargesPenal charges @ 2% p.a.
Documentation chargesRs. 500/- + GST

Conditions :

      (1) IT Return copy for three years
      (2) Individual Assets and Liabilities statement
      (3) Original Bill for the item purchased should be submitted.
      (4) Irrevocable standing Instruction / ECS is compulsory.

Terms & Conditions

EligibilityIndividual who has legal borrowing power
Primary securityOrnamental jewels
Loan Amount

Loan to value shall be equal to or less than 75% of the average market value of the gold content in the jewel.

Condition –

Weight and value of precious stones embedded in the gold jewels should be disregarded.

Value assessed by Appraiser/Manager is final

Other Terms –

(i) Reference or introduction is necessary for new customers.

(ii) If the jewels are of higher value, proof to prove the ownership of jewels is necessary.

(iii) The purity of gold shall be confirmed through acid test or through Karat meter. Applicable charges shall be collected from customers.

(iv) Approximate percentage of gold of the jewels shall be ensured and the loan amount shall be fixed proportionately.

(v) If the gold percentage in the Jewels are less than 18 karat  or 75%, no loan shall be sanctioned.

(vi) Higher amount loan shall be routed only through bank account.

Loan period12 Months
Rate of Interest

Upto 6 Months 15% Simple Interest 

7th to 12th
month 16% Simple Interest

Minimum Loan Amount50,000/-
Penal Charges2% penal charges from the due date
Appraiser FeesAppraiser fees shall be 0.25% of the loan amount.  Minimum fees per loan is Rs.20/- and maximum is Rs.250/- plus GST.
Documentation chargesRs. 100/- + GST for Jewel Loans above Rs. 1,00,000/

Terms & Conditions

 

EligibilityAny Individual who has legal borrowing power – age should be above 18 years and less than 55 years.
Quantum of creditMaximum Rs.35 lakhs – For renovation of existing house, loan amount is restricted to Rs.3 lakhs.
MarginFlat                               – 25%
Purchase of plot            – 30%
Construction of house     -20%
Renovation                   – 50%
Requisites
(In addition to KYC)
  • CIBIL report
  • Net worth statement
  • IT return – if available
  • Bank account statement for last 6 months
  • Loan passbook if any loan is availed with bank or any other financial institution.

CONDITIONS:

  • Aggregate recovery on all loans combined shall not exceed 40% of gross salary/income.
  • In case of salaried persons, (without pension benefit eligible category) the repayment period should be within his residual service period.
  • In case of salaried persons, (with pension benefit eligible category) the repayment period shall be restricted to 120 months.
  • In case of purchase of old house or flat the repayment period should be 5 years less than the residual life of the house/ flat.
  • For construction of new house, the amount should be released in stages.
  • Stage wise release of loan may be considered based on Stage wise construction certificate received from any qualified Engineer. After completion of Construction, property should be valued by our Approved Valuer.
GuaranteePersonal guarantee of father or spouse or son of the borrower.
Repayment periodMaximum 180 Months
excluding holiday period up to 9 months
Terms of repaymentRepayable in EMI
Rate of Interest
TENOR  & RATE OF INTEREST IN %
60
MONTHS		120
MONTHS		180
MONTHS
151618

For loans sanctioned for purchase of land and for construction of house, if the construction is not done within two year of purchase of land, interest at the rate of 21% should be charged from the loan beginning.

Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

 

(Loan against Financial Securities, Government Securities like National Savings Certificate, Kisan Vikas Patras and Insurance Policies, etc.)
EligibilityAny Individual who has legal borrowing power
Quantum of credit

NSC – 50% of the face value

Insurance Policies – 80% of the
surrender value

Any other Govt. securities 50%.

Requisites
(In addition to KYC)		(i) CIBIL report
(ii) Net worth statement
(iii) IT return – if available
(iv) Bank account statement for last 6 months
(v) Loan passbook if any loan is availed with bank or any other financial institution.

CONDITIONS :
(a) Securities should be in the name of the borrower.
(b) EMI of all loans put together should not exceed 30% of the net income of the borrower.

GuaranteePersonal guarantee of father or spouse or son of the borrower.
Repayment period60 Months or residual period of the securities whichever is less
Terms of repaymentRepayable in EMI.
Rate of InterestUpto 36 months – 16%
Upto 60 months – 19%
Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

 

EligibilityAny Individual who has legal borrowing power
Quantum of credit

50% of the value of the property to be mortgaged

(Engineer Value or Manager’s Independent value whichever is lower)

Requisites

(In addition to KYC)

(i) CIBIL report

(ii) Net worth statement

(iii)IT return for 3 years

(iv) Bank account statement for last 6 months

(v) Loan passbook if any loan is availed with bank or any other financial institution

CONDITION:

EMI of all loans put together should not exceed 30% of the net income of the borrower.

GuaranteePersonal guarantee of the property owner and spouse.
Repayment periodMaximum 60 months
Terms of repaymentRepayable in EMI
Rate of InterestUp to 36 months – 19 %
More than 36 months – 20 %
Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

Borrower Eligibility CriteriaRetired TMB staff members / Executives who receive pension
Quantum of credit

Up to 65 years of age- maximum 11 times of the net pension amount.

Condition: EMI of all loans put together should not exceed 40% of Net pension Amount.

Requisites

(In addition to KYC)

  1. ECS

(or)

a. Standing instruction to debit EMI to the Pension loan A/c.

b. Undertaking  not to revoke the Standing              Instruction till Closure of the loan in full.

Guarantee

Personal guarantee of two TMB pensioners.

(or)

Personal guarantee of one TMB pensioner and spouse or son of the borrower.

Repayment period36 Months to 60 Months
Terms of repaymentRepayable in EMI.
Rate of Interest

Up to 36 months           – 16%

More than 36 months    – 19%

Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

 

EligibilityAny Individual/Enterprise who has legal borrowing power
Quantum of credit

Maximum Rs.40 lakhs – If any collateral security is provided

Rs.5  lakhs – Without any collateral security.

Margin40%  for new machinery

Requisites

(In addition to KYC)

(i) CIBIL report

(ii) Net worth statement

(iii) IT return – if available

(iv) Bank account statement for last 6 months

(v) Loan passbook if any loan is availed with bank or any other financial institution.

CONDITION:

For personal purpose, EMI of all loans put together should not exceed 30% of the net income of the borrower.

Repayment periodMaximum 60 Months  – Excluding Holiday period.
Terms of repaymentRepayable in EMI
Rate of Interest
Without collateral
Upto 36 months19%
Upto 60 months21%
With collateral (Minimum 50%)
Upto 36 months16%
Upto 60 months19%
Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

 

PurposeTo meet any personal family expenses
Eligibility

For employees: Borrower should be a confirmed employee of reputed business entity or educational institutions

For Others: Borrower can be any person who has legal borrowing power.

Age Limit

For Employees: Above 18 years and less than 55 years

For Others :Above 18 years and less than 65 years

Quantum of credit
Repayment
period		For EmployeesOthers
24 Months6.5 times of monthly salary6.5 times of monthly income
36 Months8.5 times of monthly salary8.5 times of monthly income
60 Months10 times of monthly salary10 times of monthly income

 

Condition

Total loan commitments, including the proposed loan should not exceed
33% of the net salary.

If the applicant or his spouse is having any other sources of income,
Loan amount can be fixed higher subject to the condition that the total
repayment including other borrowings should not exceed 33% of total income.

If any other income is included, evidence of such additional income
should be obtained.

Maximum Loan AmountRs.10.00 lakhs.

Requisites

(In addition to KYC)

(i) Salary certificate from employer, incorporating PF No., length of service
and all deductions at their level / Salary Account Statement /
Auditor’s Certificate / IT Assessment order.

(ii) Undertaking from the employer to deduct the EMI from the salary
and credit the same to our bank account and in case of break of service
to settle our dues with interest from the terminal benefits
(or)   ECS   (or) Blank cheques (or)

a. Standing instruction to debit EMI to the Salary A/c

b. Undertaking not to revoke the standing Instruction till Closure of
the loan in full to be obtained.

(iii) CIBIL report

(iv) Net worth statement

(v) IT returns wherever applicable

Guarantee

For Employees:

Personal Guarantee of two colleagues or one colleague along with father or spouse or son of the Borrower

For others:

Personal Guarantee of one person  with high Net worth along with father or spouse or son of  the Borrower.

Repayment period
  • For employees – Maximum 60 months or residual service period whichever is lower.
  • For others – Maximum period shall be 60 months.
Terms of repaymentRepayable in EMI.
Rate of Interest

Up to 36 months          –  19%

Upto 60 months           – 20%

Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

The financed vehicle needs to be hypothecated to the company. Necessary hypothecation is to be marked with RTO / in RC book and a copy to be kept with the records.

 

EligibilityAny Individual/Enterprise who has legal borrowing power
Quantum of creditMaximum Rs.25 lakhs – for new vehicle
Maximum Rs.5 lakhs – for used vehicle
Margin

20% for new vehicle

50% for used vehicle (vehicle should be valued by Valuer and Manager)

Requisites

(In addition to KYC)

(i) CIBIL report

(ii) Net worth statement

(iii) IT return – if available

(iv) Bank account statement for last 6 months

(v) Loan passbook if any loan is availed with bank or any other financial institution

CONDITION:

EMI of all loans put together should not exceed 30% of the net income of the borrower.

The financed vehicle needs to be hypothecated to the company.  Necessary hypothecation is to be marked with RTO / in RC book and a copy to be kept with the records.

Repayment period
For new vehicleMaximum 60 Months
For Used VehicleMaximum 36 Months or residual life of the vehicle as per Valuer, less 12 months whichever is earlier.
Terms of repaymentRepayable in EMI
Rate of Interest
For new vehicle
Upto 36 months16%
Upto 60 months19%
For Used Vehicle
 Maximum – 36 Months19%
Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

PurposeTo meet the working capital and other financial requirements of any nature related to Small Business.
EligibilityAny legal entity or Individual who has legal borrowing power
Quantum of Credit(1) Maximum upto Rs.30.00 lakhs.
(2) 90% of value of ornamental gold offered as collateral
(3) 20% of the Projected Sales Turnover for current year or proceeding financial year, whichever is lower.
Primary securityOn hypothecation of Assets created out of loan sanctioned.
Collateral SecurityGold Jewels
Loan Amount

Loan to value shall be equal to or less than 90% of the Appraiser Value.

Condition:
Weight and value of the Precious stones embedded in the Gold Jewels should be disregarded

Form of AdvanceTerm Loan repayable by EMI
PeriodThe repayment period may be fixed at 60 months.
Rate of Interest18.00%
Processing FeeLoan Processing charges @ 1% of the credit limit sanctioned (No maximum cap)+ GST
Penal chargesPenal charges @ 2% p.a,, till date of regularization – will be levied for the entire loan outstanding, if the instalment is not paid on or before respective due date of the month
Requisites1) Evidence for GST Registration, if Projected turnover exceeds Rs.20.00 lakhs
2) If projected turnover is less than Rs.20.00 lakhs, any other acceptable evidence, such as Corporation License, Rent Agreement, IT Returns, Financial Statement, MSME Registration etc. shall be obtained
3) Other KYC requirements. (PAN Card / Aadhaar Card/ Bank Pass book etc.)
Other Conditions1) Undertaking letter to be obtained from the borrower that Jewels offered as Security are his/her own jewels and not belonging to any body else.
2) Part release of Jewels will be permitted upon reduction of limit..

 

Terms & Conditions

 

EligibilityAny Individual who has legal borrowing power
Quantum of credit75% of the Market value or 90% of the Forced sale value of the of the property to be mortgaged, whichever is lower.

Requisites

(In addition to KYC)

(i) CIBIL report

(ii) Net worth statement

(iii)IT return for 3 years

(iv) Bank account statement for last 6 months

(v) Loan passbook if any loan is availed with bank or any other financial institution.

CONDITIONS:

EMI of all loans put together should not exceed 30% of the net income of the borrower.

Properties offered as security should be in prime location and easily marketable.

GuaranteePersonal guarantee of the property owner and spouse.
Repayment periodMaximum 60 months
Terms of repaymentRepayable in EMI
Rate of Interest24%
Penal Charges2%
Documentation chargesRs. 500/- + GST
Processing fees1% of the limit sanctioned + GST

Terms & Conditions

EligibilityIndividual who has legal borrowing power
Primary securityOrnamental jewels
Loan Amount

Loan to value shall be equal to or less than 75% of the average market value of the gold content in the jewel

Condition –

Weight and value of precious stones embedded in the gold jewels should be disregarded.

Value assessed by Appraiser/Manager is final

Other Terms –

(i)            Reference or introduction is necessary for new customers.

(ii)          If the jewels are of higher value, proof to prove the ownership of jewels is necessary.

(iii)         The purity of gold shall be confirmed through acid test or through Karat meter. Applicable charges shall be collected from customers.

(iv)         Approximate percentage of gold of the jewels shall be ensured and the loan amount shall be fixed proportionately.

(v)          If the gold percentage in the Jewels are less than 18 karat  or 75%, no loan shall be sanctioned.

(vi)         Higher amount loan shall be routed only through bank account.

Loan period12 Months
Rate of Interest

1     – 30  days – 13% ( grace period 3 days)

* If Interest is not remitted within 33 days, 18% will be charged from the date of the loan / last remittance.

* If interest is remitted in the middle, again, the account will be renewed with interest rate of 13%  upto  30 days.

Penal Charges2% penal charges from the due date
Appraiser FeesAppraiser fees shall be 0.25% of the loan amount.  Minimum fees per loan is Rs.20/- and maximum is Rs.250/- plus GST.
Documentation chargesRs. 100/- + GST for Jewel Loans above Rs. 1,00,000/-

Terms & Conditions

 

PurposeTo meet the working capital requirement
EligibilityAny Business Entity that has legal borrowing power.
Quantum of creditMaximum upto Rs.2.00 lakh.
Primary Security

For Small Business:

On hypothecation of stock-in-trade

For Professionals:

On hypothecation of equipments/ fittings and furniture purchased (if any)

Period

Type

Amount
Upto  (Rs.)

Period
(Months)

A

1,00,000

12

B

2,00,000

24

Rate of Interest24.00%
Processing Fee1% of Loan amount sanctioned plus tax (Rs.500/- can be waived if the earlier availed loan under this scheme is preclosed before 2 months with own funds.)
Documentation chargesRs.500/- plus tax.
GuaranteePersonal guarantee of one person of high net worth and that person should be known to the company.
Penal chargePenal charge @ 2% p.a
Requisites :

1) Acceptable Evidences (Any one of the following) :

(a) GST Registration No.
(b) Auditor’s certificate for running the business
(c) Evidence for Payment of Professional Tax – or – Shop Act books being
    Maintained
(d) Original Bills for stock purchased.

2) Statement of self-certified Statement of Assets and Liabilities –
by the Borrower as well as the guarantors.

3) Stock statement with details of stock and place of storage should be obtained.