Spectrum of Advances
KBLVIDYANIDHI
(Education Loan Scheme)
Who is eligible?
Any student, representing himself / herself if
major, or a minor student represented by parent or guardian, of Indian nationality,
who has secured admission to a professional / technical / other course, in
India or abroad.
What are the courses eligible for
finance?
Studies in India:
Graduate Courses - B.A., B.Sc., B.Com., B.C.A., B.B.M., Diploma in
Engineering, Post Graduate Courses - Masters and Ph.D;
Professional Courses - Engineering, Medical, Agriculture, Nursing, Veterinary,
Law, Dental, Management, Computer, Pharmacy, Physiotherapy, Hotel Management, ICWA, CA, CFA; Courses conducted by IIM,
IIT, XLRI, NIFT; Courses offered in India by reputed foreign
universities; Evening Courses of approved Institutes; Other Courses leading to
Diploma / Degree conducted by Colleges / Universities approved by UGC / GOVT. / AICTE / AIBMS / ICMR; Courses offered by
National Institutes and other reputed private Institutions.
Studies Abroad:
Graduation - Only for job oriented professional / technical courses offered by
the reputed Universities; Post Graduation - MCA,
What is the amount of loan available?
For
studies in
For studies
abroad - a maximum of Rs.20 lakh.
What kind of expenses does the loan
cover?
Tuition Fees,
Hostel Fees and Boarding and Lodging Fees if resident outside Hostel;
Examination / Laboratory and Library Fees; Purchase of Books / Study material /
Equipment and Uniforms; Caution Deposit / Building Fund / Refundable Deposits
(supported by Receipts issued by the Institution); Travel expenses / passage
money for study abroad; Purchase of Computer if certified as essential for
completion of course; other expenses like Project Work, Study Tour and Thesis,
which are necessary for completion of course.
What is the amount of margin money
required?
Loan upto Rs.4 lakh:
No margin required.
Loan above Rs.4 lakh: 5% for studies in
Security:
Up
to Rs.4 lakh: No security.
Above Rs.4 lakh and upto
Rs.7.50 lakh: Collateral in
the form of a suitable third party guarantee.
Above Rs.7.50 lakh: Collateral security
of suitable value or suitable third party guarantee along with the assignment
of future income of the student for payment of instalments.
Note:
* The loan
documents should be executed by both student and the
parent / guardian as joint-borrowers.
* The security
can be in the form of land / building / Govt. securities / Public Sector Bonds/
Units of UTI, NSC, KVP, LIC policy, gold, shares/
debentures, bank deposit in the name of student / parent / guardian or any
other third party with suitable margin.
* Wherever the
land / building is already mortgaged, the unencumbered
portion can be taken as security on II charge basis provided it covers the
required loan amount.
* In case the
loan is given for purchase of computer the same has to be hypothecated to the
Bank.
What is the period for repayment of the
loan?
The loan shall be
repaid in 5 to 7 years after commencement of repayment. If the student secures
employment during the holiday period, the repayment schedule should be advanced
to commence immediately.
The completion of
the course includes internship or apprenticeship if compulsory for award of
Degree. If the student does not complete the course within the scheduled
period, a maximum period of 2 years is permitted for completion. If the student
is unable to complete the course for reasons beyond his control then extension
may be granted if deemed necessary to complete the course.
The accrued
interest during the repayment holiday will be added to the principal and
repayment in equated monthly installments (EMI) shall be fixed.
Rate
of interest:
KBL EASY RIDE(
For Two Wheelers)
Who is Eligible?
I. Individuals
a) Within the age limit of 21 to 55 years in case
of salaried persons and 21 to 60 years in case of businessmen / professionals /
self employed persons.
b) Confirmed employee in the case of salaried
person. Businessman should be in business for minimum period of 1 year.
c) Salaried person must have gross monthly salary
of Rs.4,500/- and
businessman monthly income of Rs.3,500/- .
d) Undertaking
letter shall be furnished to the effect that the vehicle will be driven by
valid license holder only.
II.A company / firm, availing the loan in its name or in the name
of executive / managing director / managing partner.
Amount of Loan:
Upto 15 times net
take home salary (in the case of salaried person) / declared annual gross
income (in the case of professionals / businessmen / self employed person), or
100% of the invoice value of the vehicle whichever is lower. Road
tax and insurance to be borne by the borrower.
Maximum amount of
loan Rs.100,000/-.
Period :Upto
60 months.
Repayment:By equal / equated monthly instalments.
Security:
a) Hypothecation
of vehicle to be purchased.
b) Solvent co-obligant / guarantor.
Documents
Required
Proof
of income (Salary certificate, income tax returns / assessment orders, audited
financial statements etc.).
Rate
of interest:
KBL CAR FINANCE (For New and Second
Hand Cars)
Who is Eligible?
a) An individual who is an income tax assessee.
b) A company / firm/ trust/ association/societies availing the
loan in its name or in the name of its executive / managing director / managing partner/managing trustee/president/secretory.
c) NRIs are also eligible.
Purpose:
Purchase of new
vehicle / second hand vehicle not older than 3 years from the date of its
registration.
Amount of Loan:
Upto 85% of the
invoice value excluding road tax and insurance for new vehicles.
Maximum
of Rs.15 lakh in the case
of second hand / used vehicle.
Period:
Upto 60 months (new
vehicle) and 34 months (second hand vehicle).
Security:
a) Hypothecation
of vehicle to be purchased.
b) Third party
co-obligation / guarantee in the case of individual.
Rate
of interest:
VAHANA MITHRA
(Finance for Commercial Vehicle)
What is KBL Vahana
Mithra?
Finance for the
purchase of Autorickshaw, Jeep, Car, Maxi Cab, Tempo Traveller, TATA Sumo, TOYOTA Qualis, Bus, Lorry, etc., to be registered as Public
Transport Vehicles only. Purchase of new tractor, JCB,
crane etc. are also eligible provided the vehicle is used as public transport
or vehicle for hire.
Who is Eligible?
Any individual,
Hindu Undivided Family, Partnership Firm or any registered Company, schools,
colleges, hospitals, nursing firms, hostels run by trust, associations.
What is the maximum amount of loan
advanced?
A
maximum amount upto 85% of the invoice value for a
new vehicle, excluding Road Tax and Insurance, Permit etc. For body
building expenses up to 75% of the quotation furnished by the Vehicle body
builders. For used vehicle - 30% upto 3 years, 50%
above 3-5 years.
Is any security required for the loan?
For loans upto Rs.10 lakh:
Vehicle to be purchased will be hypothecated and solvent party co-obligation /
guarantee would be required.
For loans above Rs.10 lakh: The vehicle to be
purchased will be hypothecated and equitable mortgage of property of value not
lower than 50% of the loan amount, acceptable to the Bank, solvent co
obligation.
or
Liquid securities
like NSC's, KVPS, LIC Policies having SV and
Deposits of value not lower than 35% of the loan amount or more, solvent
co-obligation.
What is the period for repayment of the
loan?
For Buses and
Trucks a maximum repayment period of 84 months (including holiday period) is
allowed, and for all other vehicles, it is 60 months in equated monthly
installments.
Rate
of interest:
KBL VARTHAK
(Loan Scheme for Traders)
Who is Eligible?
Traders,
commission agents, distributors, authorized dealers, stockists
or any other business persons exclusively carrying on trading / business
activity retail / wholesale basis. They may be individual, sole proprietorship,
partnership, HUF, joint stock companies or any other
legal entity being in business for period of one year prior to seeking facility
and having either sales tax registration or trade / business licence / permit issued by statutory / recognized body.
Purpose:
Working
capital.
Quantum:
20%
of the projected turnover, subject to a maximum of Rs.25
lakhs.
Security:
a) Hypothecation
of stock in trade and receivables.
b) Equitable
mortgage of immovable property and / or pledge of term deposits of our Bank, LIC policies and NSC either in
the name of the borrower or in the name of third party with requisite margin.
c) Co-obligation
acceptable to the Bank.
Rate
of interest:
KBL UDYOG MITHRA (Loan Scheme for Professionals)
Who is Eligible?
Doctors
/ Regd. Medical Practitioners (having passed
qualified examination from a recognised university in
Allopathy / Homeopathy / Ayurvedic
sciences) / Lawyers / Engineering consultants and Chartered Accountants.
Applicant should
be an existing customer with satisfactory dealings of not less than 6 months. or Applicants should
be properly introduced.
Purpose
i) Purchase of
medical equipments / machineries / computers.
ii) Furnishing
the office, purchase of furniture, books etc.
iii) Payment of
advance rent for setting up an office.
Period:
Upto 5 years for
purpose (i) and (ii) Upto
24 months for purpose.
Amount:
a) Upto 90% of the cost of the assets to be purchased in the
case of purpose (i) mentioned above.
b) Upto 80% of the cost in case of purpose (ii) and (iii)
for setting up of an office for the purpose mentioned under (ii)
and (iii) maximum loan is Rs.75,000/- in rural areas,
Rs.1,00,000/- in semi - urban areas, Rs.1,50,000/- in urban areas and Rs.
2,00,000/- in metropolitan areas.
Security:
a) Hypothecation
of assets to be purchased (purpose
(i) and (ii)
B) LIC Policies (SV), NSCs (FV), term deposits of the Bank not less than 25% of
the proposed loan or equitable mortgage of immovable property of value not less
than 50% of the loan amount.
c) Solvent co-obligant / guarantee.
Rate
of interest:
KBL Salaried Persons Loan (Scheme for Financing Salaried
persons)
Who is Eligible?
Permanent
employees of listed companies, schools, colleges and universities aged not over
55 years and having a minimum remaining
service of 3 years.
Purpose
a) Purchase of
household articles / consumer durables.
b) Children's
education.
c) Marriage and
thread ceremony of self / dependants.
d) Medical
expenses of self / dependants.
e) Obsequies expenses.
f) Repair of own
house.
Amount of Loan:
Maximum
10 times of monthly gross salary.
Maximum quantum of loan is Rs.5 lakh.
Period of Loan: Upto 5 years.
Security:
Up to Rs 2.00 Lakh - Co-obligation of
solvent party / co-employee who should be a permanent employee of reputed
companies, schools, colleges or universities.
Above Rs 2.00 Lakh - Co-obligation of
solvent party / co-employee who should be a permanent employee of reputed
companies, schools, colleges or universities and Liquid security of LIC policies(SV),
NSC, deposits to the extent of 25% of the limit
Rate
of interest:
K-POWER (Personal Loans)
Who is Eligible?
Any individual
having SB/CA is eligible. He could be a salaried employee, a professional or
even someone receiving regular income from rent, pension etc.
What is the maximum amount one can draw
using this facility?
Depending upon
the limit fixed by your Branch Manager, you can draw upto
Rs. 25,000/- in multiple of Rs.1,000/-. The withdrawal can be made through ATM.
Period:
12
months subject to renewal / review before due date.
Rate
of interest:
KBL INSTA
CASH (For Consumption Purposes)
Who is eligible?
Any individual
between the age of 18 years and above, Hindu Undivided Family business, Joint Borrowers
or Partnership Firms are eligible for this loan.
What is the Amount of Loan Available?
A minimum of Rs.5,000/-. Maximum
of Rs.25 lakh.
Period:
The maximum
period is 60 months and 24 months for the Over Draft facility. Interest should
be remitted monthly. The loan may be repaid on the due date as a lump sum or
monthly / quarterly / half yearly / yearly installments, as per your
convenience.
Security:
You would be
required to pledge NSCs / Kisan
Vikas Patras which have
completed at least one year of which unexpired period of maturity should be
three years or less, 4 years or less, 5 years or less and assignment of Life
Insurance policies with surrender value or of other companies licensed by
Insurance Regulatory Development Authority.
Rate
of interest:
KBL APNA GHAR (Home Loan)
Who is Eligible ?
a) Individuals
who are residents of
b) Salaried
persons aged 21 years and above. They should be in confirmed service in the
present employment and must have total regular employment for a minimum period
of 3 years and a minimum gross monthly salary
of Rs. 6000/-.
c) Businessmen /
Professionals / self employed persons aged 21 years and above. Further, the
period of loan plus age of the borrower should not exceed 70 years. They should
be in business for a minimum period of 3 years and a minimum gross annual
income of Rs.60,000/-.
Purpose:
a)Construction /
purchase of house / flat.
b) Renovation /
remodeling / repair to existing house / flat.
Amount of Finance:
For purchase /
construction
a) 60 times the
last drawn monthly take home (net) salary in case of salaried persons Or
b) 5 times the latest annual net income +
depreciation provided, if any, as per
Profit & Loss A/c in case of traders / professionals / self employed
persons
Or
c) Rs.50 lakh.
whichever is lower.
For renovation / repairs:
Upto Rs.10 lakh or 40% of the value of
the house / flat, whichever is lower.
Period of Loan:
Upto 15 years. Repayment
holiday upto 18 months considered.
Security:
a) Mortgage of house
property to be constructed / purchased / repaired / remodeled / renovated.
b) Guarantee of
the spouse wherever feasible in the absence of which third party solvent
guarantor.
Repayment:
In
equal / equated monthly installments (EMIs).
Margin:
• 20% for
construction of a house on a land already owned.
• 25% of the
total cost in the case
of a house
/ flat not
older than 5
years.
• 30% of the
total cost in the case of a house /
flat over 5 years old but not
older than 20 years.
• 30% of the cost
for renovation / repair, subject to maintaining 40% margin on the value of the
house / flat.
Other Information:
a) The bank finds that the loan
amount is misused.
b)
The repayment is not forthcoming as per agreed terms
NOTE:
RULES AND REGULATIONS ARE SUBJECT TO CHANGE FROM TIME TO TIME.