PGB Personal Loan Scheme

 


Purpose

To meet all types of personal needs (e.g., for medical treatment of self or a family member, marriage of self, son/ daughter, defraying expenses on education of wards, expenses for domestic or foreign travel etc.)

   

Eligibility

1.         Only PGB account holders having 6 month old account are eligible for Personal Loan.
2.         All permanent Defence Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibetan Boarder Police, etc..having left out service of more than24 months.
3.         Confirmed/ permanent employees of Central/ State Govt./ PSUs and all reputed companies/ Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals/ Nursing Homes, who are either drawing their salary through accounts maintained with our branches or these employers agree for check off facility*.

4.         Professionally qualified practicing Doctors viz., MBBS, BDS & above having customer relationship with PGB at least for the last six months having annual income of Rs. 3.00 lac and above. Doctors should be taxpayers for the last three years and the ITRs duly receipted by ITO be available for Bank

   

Minimum

Net Monthly Income

  • Rs. 12500 per month for availing loan/OD at Urban centres; and
  • Rs. 10000 per month for availing Loan/OD at Semi-Urban and Rural centres.
   

Nature of Loan

Term Loan and Overdraft

   

Extent of Loan

Term Loan & Overdraft - Minimum amount of loan will be Rs. 50000/- and maximum amount of loan Rs. 4,00,000 or 20 times monthly net salary whichever is lower depending upon the repaying capacity and Rs. 5,00,000/- for those Salaried persons having completed service of 3 years in the present organization & drawing net monthly salary of not less than Rs.30,000/-.)

   

Margin

Nil

   

Repayment

Term Loan:

The entire loan (principal & interest) shall be repaid within remaining period of service or in maximum 60 (sixty) equated monthly installments (EMIs). Repayment to start one month after disbursement of the loan.

Overdraft:

The overdraft Limit shall be adjusted within a maximum period of 60 months by reducing Drawing Power (DP) equivalent to EMI amount at the beginning of every month.

Personal loans allowed to Defence Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibet Border Police etc. shall be Repayable in maximum 36 equated monthly installments or remaining period of stay at the particular posting, whichever is lower

   

Security (Collateral)

Suitable guarantee acceptable to the Bank.

 

 

 

For more detail, please contact to our nearest branch.