Terms And Conditions

The following rules and conditions are to be brought to the notice of and complied with by the
loan applicants.

1. If the file is rejected by the company after the payment of the file charge, the file charge will be refundable.
2. If the applicant cancels or the applicant fails to comply with the conditions set by the company within the stipulated time, the file charge and processing fee will not be refunded.
3. The processing fee will be refunded after 2 months of loan disbursment or adjusted in the first 6 months of EMI payments.
4. The personal loan amount will be minimum one lakh and maximum twenty five lakh.
5. The annual interest rate will be 4% to 12% flat rate depending on the loan amount.
6. The loan repayment will be in monthly installments with interest.
7. The loan repayment period will be minimum one year and maximum 20 years.
8. All the employees working in India can get loan from their respective places.
9. All the employees of all the departments of the central/state governments except some departments can get loan.
10. An interest waiver will be applicable on timely repayment of loan amount in installments.
11. The file preparation fee, property verification, registration, guarantee deed, agent commission etc. will be borne by the applicant only.
12. The financial firm/company will inform the applicant about the loan approval only after thorough consideration of the loan application.
13. The loan disbursement will be done within a week by cheque/bank draft/RTGS only after the applicant completes all the formalities related to the loan, no other mode will be accepted.
14. The agent’s work will be to send the file containing the forms, guarantee papers, photographs etc. submitted by the applicant, to the concerned financial firm/company and to follow up with the applicant till the loan approval.
15. If the applicant fails to complete the necessary forms related to the loan, guarantee papers submitted by the guarantor within the stipulated time limit, or if any form is found erroneous or false, or if the guarantor or his/her departmental officer cancels or withdraws his/her undertaking or salary deduction permission, then the financial firm/company will assume that the applicant has not fulfilled his/her obligations related to the loan. In such a case, the financial firm/company will have a unilateral right to reject or cancel his/her loan.
16. In case of private guarantor, full consent of all adult members of guarantor’s family will also be required and also government value of property of guarantor should also be double of loan amount. If value is less then loan amount will be reduced accordingly or rejected.
17. If any applicant or agent uses abusive language or misbehaves with officer, employee of the company then applicant loan will be cancelled and company deposited amount will also not be refunded and legal action will also be taken. |
18. Any dispute will be settled in Bangalore’s Civil Court only and not in criminal court.
19. If the file is rejected by the company after the payment of the file charge, the file charge will be refundable.
20. If the applicant cancels or the applicant fails to comply with the conditions set by the company within the stipulated time, the file charge and processing fee will not be refunded.
21. The processing fee will be refunded after 2 months of loan disbursment or adjusted in the first 6 months of EMI payments.