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   Personal Loan Products
At SBT, we have a number of lending products to meet your varied needs of funds. 

                           Types of Personal Loan

click on the above links for details

Interest Rates & PLR 

contact any of our branches to avail the loans

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Cash Key facility 

  • The most convenient method of obtaining advance against deposits. 
  • Unlimited withdrawals permitted in a Current account upto 90% of the deposit amount and interest accrued.  
  • Cheque book facility is available. 
  • Interest charged on these loans will be 1% above the interest rate allowed on the deposit  irrespective of the amount, rate of interest and period.

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Gold Loans

Conventional

  • Loans against Gold ornaments. 
  • Amount of Loan - Maximum 10 lacs
  • Period of loan - 6/12 months and can be further renewed 
  • Simple easy documentation. 
Loan Amount Rate of Interest
Upto Rs. 1 Lac 11.25%
Above Rs. 1 Lac Upto Rs. 10 Lacs 11.25%

Liquid gold - SBT Gold overdraft

  • Overdraft facility against pledge of Gold ornaments, operated as a running account with facility of cheque book. 
  • Amount of Loan - Maximum 10 lacs
  • Loans are granted for 6/12 months and can be further renewed.

Gold Loan Premium Scheme

Loan Amount

RATES OF INTEREST  

Upto Rs.1 Lac

11.25%

Above Rs.1 Lac upto Rs.10 Lacs

11.25%

Above Rs. 10 Lacs to Rs. 25 Lacs

11.50%

Higher rates per gram on gold will be allowed under this product. 

Smart Gold Loans

Loan Amount

RATES OF INTEREST  

Upto 4 Months

13.00%

Above 4 Months upto 5 Months

15.00%

Above 5 Months

17.00%

 

  ..

Mitra Varsha  Loan against shares & securities

A single over draft limit against the pledge of various types / combination of securities viz. IVP,LIC Policy, SBI Life Policy, Treasury FD, Post Office FD.

By pledge of

Minimum Limit Rs.50000/-

Maximum Limit

LIC/SBILife Policies

Govt Of Kerala Treasury FD/Post Office FD

Indira Vikas Patra

95% of Surrender value Max  Rs.20.00 lacs

70% of deposit + accrued interest. Max Rs.20.00 lacs

75% of purchase value 
Max Rs.5.00 lacs

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Housing Loan  

PURPOSE

For construction, purchase / repair / renovation / alteration of a house or for purchase of a plot for the construction of a house.

PERSONS ELIGIBLE

  1. All Resident with regular monthly income with a  minimum NMI of Rs. 12,000/- and  Non-Resident Indians with a regular monthly income with a minimum NMI Rs. 15,000/-.
  2. Spouses of Non-Residents, who are residents and receiving regular monthly income.
  3. Salaried persons, self employed businessmen, professionals and agriculturists, who have regular monthly income and who have a minimum of three years of standing / experience in their line of activity.
  4. The age should be such that the borrower is able to close the account before he attains the age of 70.
  5. Relaxation in eligibility criteria from the minimum of 3 years to 1-2 years is allowed to employees of government/quasi government departments /establishments and listed companies whose minimum NMI is Rs. 20,000/- or more.

AMOUNT OF LOAN

  1. 60 times of Net monthly income (NMI)/ Average monthly income (AMI) for individuals upto 45 years of age.
  2. 48 times of Net monthly income (NMI)/ Average monthly income (AMI) for individuals over 45 years of age

However the repayment obligation is restricted to Maximum 60% of the NMI/AMI.

Maximum amount of the loan is Rs.500 lacs.

MARGIN 

  • Minimum 20%

INTEREST click here for interest rates

DISBURSEMENT

  1. Construction of new building

    In three stage, 30%, 40% and 30% of the loan amount. The last installment will be disbursed three or four weeks prior of the completion of the building

  2. Outright purchase 100% to the seller, after payment of the margin by the applicant.
  3. Purchase of plot and construction of the building.

The loan component for purchase of the plot will be 50% of the total project cost upto Rs.75 lac and 30% of the project cost above Rs.75 lac or 80% of the land value whichever is lower.

REPAYMENT

  • UPTO 30 YEARS SUBJECT TO LIQUIDATTION OF THE LOAN BEFORE THE BORROWER REACHES THE AGE OF 70 YEARS.

    It includes the repayment holiday of a maximum of 18 months. Repayment will begin on completion of the house or 18 months from the disbursement of the first installment of the loan, whichever is earlier.

  • NO PREPAYMENT PENALTY ON PRECLOSURE OF FLOATING RATE HOUSING LOANS W.E.F 31/10/2011

SECURITY

Mortgage of property by deposit of title deeds.

PROCESSING CHARGES

Limit upto Rs.25,000 - Nil

Limit above Rs.25,000 to Rs.2 lacs - 0.55% of the loan amount (Max.Rs.500/-)

Limit above Rs.2 lacs - 0.55% of the loan amount maximum Rs.10000/- 

Processing charge upto 30/09/2013 will be 0.275% (50% concession upto 30/09/2013)

INSURANCE

Insurance is to be arranged for the total cost of building.

PAPERS TO BE SUBMITTED TO BANK

In addition to the application form(in duplicate) and two passport size photographs, the following papers are to be submitted to the Bank.

PROOF OF INCOME

In case of salaried persons:

    1. Salary certificate showing deductions.
    2. Authorisation to deduct monthly installments from the salary of employee for credit of the loan account wherever available.
  1. In the case of self employed / professional / business men.

Audited accounts and Balance Sheets/income tax assessment orders/Returns/Memo/Statements of computation of taxable income filed for the last 3 years.

DOCUMENTS TO BE SUBMITTED FOR CONSTRUCTION / IMPROVEMENT OF HOUSES

  1. A copy of the plan inclusive of site plan approved by the Corporation/ Municipality/Development Authority/Panchayat as required.
  2. A copy of the building permit issued by the Corporation/ Municipality / Panchayat as required. In areas where building permit is not required a No Objection Certificate from the authority concerned.
  3. Estimate approved by licenced Egineers/Architects approved by local bodies.
  4. Original and prior title deeds.
  5. Latest tax receipts.
  6. Possession Certificate
  7. Encumbrance certificate from the Sub Registrar for the last 31 years.
  8. Title clear certificate from the banks approved advocate.
  9. Valuation report from the banks approved valuator.
  10. An affidavit cum Undertaking from the person that he shall not violate the sanctioned plan.
  1. DOCUMENTS TO BE SUBMITTED FOR PURCHASE OF HOUSES/FLATS
  1. A copy of the agreement for sale.
  2. A copy of the Title deeds of the present owner.
  3. A copy of the land tax receipt.
  4. A copy of the building tax receipt.
  5. Encumbrance certificate from the Sub Registrar for the last 31 years.
  6. Title clear certificate from the banks approved advocate.
  7. Valuation report of the property and building from the banks approved valuator.

NOTE:

After the sale deed is executed, the original deed along with fresh encumbrance certificate and possession certificate should be submitted. For purchase of plot alone all the documents as above except the no. iv are to be submitted. After availment of the loan, encumbrance certificate for four months after the date of mortgage is to be produced.

List Of Approved Builders

 

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Home Decor Loan   To furnish houses/flats

Purpose  To purchase new household furniture, Refigerator, Electric fans, Air-conditioners, to put up wardrobes, storage facilities or any other household items.

    Eigibility 

    1. Individuals availing Housing Loans from the Bank

    2. Where a Housing loan was earlier obtained from us and the liability is still subsisting without overdues.

    3. When availing Housing Loans for taking over from other Banks/Financial institutions

    Amount

    25 % of Housing loan or Rs. 5 lacs whichever is less

    Repayment maximum 10 years in monthly installments.

    Interest rate  click here for interest rates

    Processing charges

    As applicable to Housing Loans

 

.. Education Loan    

The scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad


PURPOSE

To meet the tuition and other fees\Examination\Library\Laboratory fee, cost of books\purchase of Computers\equipments\instruments\uniforms and the cost of passage for studies abroad. Caution Deposit, Building Fund, Refundable deposit subject to 10% of the Tuition Fee. Any other expenses required to complete the course like study, tours, project work, thesis etc. also be financed.

ELIGIBLE COURSES

Studies in India
a. Studies in India: (Indicative list)

  • Approved courses leading to graduate/ post graduate degree and P G diplomas 

            conducted by recognized colleges/ universities recognized  by  

UGC/ Govt./ AICTE/AIBMS/ ICMR etc.

  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIMs, IITs, IISc, XLRI. NIFT,NID etc.
  • Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, degree/diploma in nursing or any other discipline approved by Director General of Civil Aviation/Shipping/Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
  • Approved courses offered in India by reputed foreign universities

Studies abroad

  • Graduation : For job oriented professional/technical courses offered by reputed universities.
  • Post graduation: MCA, MBA, MS, etc.
  • Courses conducted by CIMA-London, CPA in USA etc.
  • Degree/diploma courses like aeronautical, shipping etc provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.

ELIGIBILITY
The student should be an Indian National (NRIs not eligible)
i) Should have  secured admission to professional\technical courses through entrance test\ merit based selection process conducted by a Govt Agency / University
ii) Should have have secured admission to foreign university institution on the basis of  merit
BORROWER : Student and parent/guardian/ jointly.
 LOAN Amount: For studies in India Rs. 10 lacs
                          For studies abroad Rs. 20 lacs
MARGIN : Upto Rs. 4 lacs - Nil
                Above Rs.4 lacs -  i) Studies in India - 5%
                                                      ii) Studies abroad  -15%
INTEREST :Refer link of interest rates provided below (Interest Rebate :  1 % Interest concession if interest debited during a financial year is remitted within one month of its debit in account)
0.5% concession for Girl Students.
PENAL INTEREST : 2% FOR LOAN ABOVE RS.2 LAKHS
REPAYMENT
To commence 1 year after completion of course or 6 months after getting job, whichever is earlier. The loan is to be repaid in 10-15 years after commencement of repayment.
SECURITY:
Loans upto Rs.4 lacs : Co-obligation of parent/guardian/spouse/parent-in-law/grand parents as the case may be. No security
Above Rs.4 lacs and upto Rs.7.5 lacs Co-obligation of parent/guardian/spouse as the case may be along with collateral  in the form of a satisfactory third party guarantee required. 
For loans above Rs7.5 lacs Co-obligation of parent/guardian/spouse/parent-in-law/grand parents along together with tangible collateral security of suitable value preferably not less than 200% of the loan limit, along with assignment of future income of the student for payment of instalments and tangible security of suitable value
Security can be in the form of land\building\ Govt. securities\public sector bonds\units of UTI, KVP, LIC Policy, gold, shares\debentures, bank deposit in the name of student\parent\guardian or any other third party with suitable margin.
PROCESSING FEE  
No processing fee for studies in India.
For studies Abroad
Upto Rs.4 lacs - 0.5%
Above Rs.4 lacs - 0.4%
(Refundable on availment of 1st instalment)

Links

click here for interest rates

Accredited Institutes

Hotel Management, Catering Technology, Food Craft, Tourism & Travel Management

   ..

Sahaya Varsha

A clean demand loan to meet your short term funds/ financial needs for various purchases/emergent requirements such as marriage, family functions, travel, education, expensive medical treatment, operation etc.

PERSONS ELIGIBLE

  1. Salaried employees having net monthly income exceeding Rs.5,000/- and maintaining salary account with us

AMOUNT OF LOAN

15 times of the net monthly salary / income, Minimum Rs.10,000/- and Maximum Rs.2,00,000/-

MARGIN - NIL

INTEREST click here for interest rates

REPAYMENT

    6 to 60 months in Equated Monthly Installments.

SECURITY

Primary - Nil

Collateral -

  1. Equitable Mortgage of property having value not less than 200% of the loan amount.  OR
  2. Third party guarantee of two or more persons of sufficient worth acceptable to the Bank  OR
  3.  

    a) Check off facility with one personal guarantee for loan amount upto Rs.1 lac

    b) Check off facility with one or two personal guarantee of sufficient worth for loan amount above Rs.1 lac.

PROCESSING CHARGES

    Loans upto Rs.25,000/- = Rs.115/-

    Above Rs.25,000/- = Rs.280/-

PAPERS TO BE SUBMITTED TO THE BANK

    1. Application form (in duplicate) and two passport size photographs
    2. Proof of income

In the case of salaried persons

  1. Salary Certificate showing deductions.
  2. Authorisation to deduct monthly installments from the salary of the employee for credit of the loan account where check-off facility is available.
  3. Standing instruction to transfer monthly instalments from the salary account.

For mortgage of property

  1. Original and prior title deeds.
  2. Latest tax receipts
  3. Possession Certificate
  4. Encumbrance certificate for the last 15 years from the Sub-Registrar.
  5. Valuation report from the banks approved valuator.

    ..

Suvidha Loan 

Loan against mortgage of immovable property

FOR PERSONAL NEEDS SUCH AS MARRIAGE RELATED EXPENSES, FOREIGN TRAVEL, MEDICAL EXPENSES ETC..  

1. Nature of Loan : Term Loan or Overdraft

2. Purpose : Consumer needs – General Purpose Loan

3. Eligibility : Individuals who are :

    1. Should be an existing customer(s) of the bank with a satisfactory track record of  more than one year.
    2. employees of Government, Quasi Government, reputed companies/establishments.
    3. Professionals, self employed and others who are income tax assesses.
    4. Engaged in agricultural and allied activities.
    5. Net monthly income of Rs.15,000 for salaried persons or net annual income of Rs.1,80,000 in the case of others.
    6. The income of the spouse may be added if he/she is a co-borrower.

4. Age Limit : The age of the borrower should not exceed 60   years at the time of sanction.

5. Amount of Loan : 24 times the net monthly income for salaried persons or 2 times the net annual income in case of others.

Minimum Rs.50,000 -  Maximum 1 Crore

Overdraft facility - Maximum amount Rs 25 lakhs

6. Security : Equitable mortgage of non encumbered Residential /Commercial property in the name and possession of the borrower/spouse/close relatives (provided the property holders become guarantors for the relative loan)

7. Margin : 40 % of the market value of the property.

8. Repayment : Equated monthly installments within a maximum period of 120 months with a check off facility in the case of salaried persons/84 months where check off facility is not available.

9. Interest    click here for interest rates

10. Processing Fee : 2% of the loan amount. Max Rs. 50,000/- plus service tax@12.36%

11. Insurance : The property being mortgaged should be insured against the risk of fire/riots/ earthquakes/lightning/floods etc. in the joint names of the borrower and the Bank for the full market value of the property.

12. Papers to be submitted :

  1. Application form
  2. 2 passport size photographs
  3. Copy of the income tax return for last 2 financial years duly acknowledged by ITO.
  4. Latest salary slip showing all deductions.
  5. TDS Certificate – Form 16 in the case of salaried persons
  6. If property offered is an agricultural land converted as non-agricultural, copy of the relative order should be made available.
  7. In the case of agriculturist a certificate of income issued by the village officer should be produced.
  8. In the case of individuals engaged in trade/industry etc. wherever latest IT returns are not available, the annual income can be assessment based on the IT return for the preceding year and the last balance sheet

12. Documents to be submitted

  1. Title deeds of the property proposed to be given as security.
  2. Prior title deeds.
  3. Latest tax receipts (both building and land)
  4. Possession Certificate
  5. Encumbrance certificate from the sub registrar for the last 31 years.
  6. After availment of the loan, encumbrance certificate for 4 months after the date of mortgage is to be produced.

 

    ..

Prasanthi

A clean Demand Loan Scheme specially designed for Pensioners

  1. Pensioners

    All Central Civil, Defense, Railway, Telecom, KSRTC (Kerala State Road Transport Corporation), KSEB, KWA,Kerala Agricultural University, State and Bank Pensioners
    whose pension accounts are maintained at our branches. Pension accounts include
    those accounts to which Bank acts as the Pension Disbursing Officer and those
    accounts to which pension amounts are received from DPDO.

  2. Age limit  

    Should not exceed 75 years at the time of sanction of loan.

  3. Eligibility and Amount of Loan

    Age of pensioner upto 60 years - A maximum of 15 months pension with a ceiling of Rs.1,50,000.

    Age of pensioner over 60 years upto 65 years - A maximum of 12 months pension with a ceiling of Rs.1,25,000.

    Age of pensioner over 65 years upto 75 years - A maximum of 10 months pension with a ceiling of Rs.1,00,000.

  4. Guarantee

    The spouse/nominee for family pension eligible for family pension should guarantee the loan or any other family member or a third party worth the loan amount.

  5. Margin          Nil
  6. Interest       click here for interest rates 
  7. Repayment   Age upto 60 years  -  54 equal monthly installments

                       Age above 60 years and upto 65 years - 48 equal monthly installments
                   
                       Age above 65 years and upto 70 years - 36 equal monthly installments
  8. Security        The nominee to the pension should be a guarantor.
  9. Processing charges   0.5% of the limit, Minimum Rs.20/-
  10. Papers to be submitted to the Bank

    Application form and two passport size photographs.

  11. Documents to be executed
  1. Demand Promissory Note in favour of the spouse/nominee for family pension and endorsed by the latter in favour of the Bank.
  2. DP Note Delivery Letter executed jointly by the borrower and the spouse/nominee.

..

Car Loan 

For NRIs & Residents

Persons Eligible

  • Salaried and other regular income earners with a minimum of 2 years standing/ experience in their line of activity
  • Spouse of NRIs, based on the monthly income of the NRI.
  • Minimum Net Annual Income Rs. 2,50,000/-

Amount of Loan

Eligible Amount Maximum

New Cars/Jeeps 48 times net monthly income 

Second hand cars 30 times net monthly income

(vehicles upto 2 years old) Rs.4 lakhs

(vehicles 2 to 5 years old) Rs. 3 lakhs

* Margin Take over of Car loans (from other banks) can be considered.

**Reimbursement of expenses incurred for purchase of new cars by way of  Hypothecation is also considered subject to conditions.

Margin

Up to Rs.20 lakhs - 15% of the road cost of the new car to be purchased (invoice cost+life tax+Insurance)

Above Rs.20 lakhs - not less than 25%

25% for second hand cars upto 2 years old

40% for second hand cars above 2 years upto 5 years old

Repayment

New Cars 84 equated monthly installments

Second hand cars 60 equated monthly installments

Security

Primary : Hypothecation of the vehicle purchased out of bank finance.

Collateral (for loans above Rs. 50000/-) :

  • Personal guarantee of one or two persons of sufficient worth.

Processing Charges  0.50% of the loan amount subject to a minimum of Rs.500/- and maximum Rs.10000/-

Insurance Comprehensive Insurance is compulsory for all loans for purchase of vehicle.

Papers to be submitted to the Bank

  • Application form (in duplicate)
  • Passport size photos (2 nos)
  • Proof of income
  • A proforma invoice of the vehicle proposed to be purchased. Documents required for used cars, please contact nearest branch
  • Details of guarantors

 

    a. In the case of salaried persons :

  1. Salary Certificate showing deductions
  2. Authorisation to deduct monthly installments from the salary of the employee for credit of the loan account where check-off facility is available.

    b. In the case of self employed/professional/businessmen :

  • Statement of computation of taxable income

 

Two Wheeler Loan

Eligibility

State/Central Govt  employees/ employees of Public sector undertakings/ executives of reputed companies/establishments, & MNCs with minimum service of two years who are maintaining salary  accounts with us under Banks’ corporate salary package will be eligible.

 

Type of loan

Term Loan

 

Scheme period

23.10.2013- 31.01.2014

 

Quantum of loan

8times NMI, maximum Rs.50,000/- EMI not exceeding 50% of NMI

 

Minimum income criteria

Annual Net Income of Rs 150,000/-

 

Margin

20% of the cost of the vehicle including insurance & life tax

 

Purpose of Loan

For purchase of two-wheelers

 

Period of the Loan

36 months

 

Repayment

36 equated monthly installments

 

Security

Hypothecation of the two wheeler purchased out of bank finance.
Personal Guarantee of one person in the absence of check facility.
In case of existing Housing loan/ Suvidha loan borrowers , extension of Equitable Mortgage of house property.

 

Interest Rates

Refer Personal Segment Loan Interest Rates

 

Insurancec

Comprehensively insured

 

Processing fee

RS 150/- ( upfront)

 

Key Words

Two wheeler, salaried, employees/executives

 

 

Consumer Durable Loan

Purpose

For purchase of consumer durables like kitchen and home appliances, Televisions , Washing Machines, Refrigerators and Air Conditioners etc.

 

Type of facility

Term Loan

 

Scheme Period

23.10.2013 – 31.01.2014

 

Eligibility

state/Central Govt  employees/ employees of Public sector undertakings/ executives of reputed companies/establishments, & MNCs with minimum service of two years who are maintaining salary  accounts with us under Banks’ corporate salary package will be eligible

 

Minimum Income criteria

Annual net income of Rs 150,000/-

 

Maximum Loan amount

8 times of net monthly salary subject to EMI not exceeding 50% of NMI maximum Rs 100,000/-

Margin

20% of the total cost of the items to be purchased.

 

Period of Loan

36 months

 

Repayment

36 equated monthly installments

 

Security

Hypothecation of consumer durables purchased out of bank finance.
Personal Guarantee of one person in the absence of check off  facility.
In case of existing Housing loan/ Suvidha loan borrowers , extension of Equitable Mortgage of house property

 

Rate if Interest

Refer Personal Segment Loan Interest Rates

 

Processing fee

Rs 50/-(upfront)

 

Key words

 Consumer durables, Salaried, disbursement ,NMI

For more information please contact our branch in your neighborhood.

or email to   cmpsb@sbt.co.in