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 Lakshmi Easy Loan
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Purpose
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To meet personal and domestic expenses, make fresh investments including tax-
planning investments, pay income tax, invest in business, etc.
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Eligibility
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Individuals including persons coming together to avail the loan in joint names holding
National Savings Certificates(NSCs) and Kisan Vikas Patras ( KVPs) & LIC policies in their names.
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Loan amount
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Minimum Rs 10,000/-
Maximum No Cap
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Margin
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For both Demand Loans & Secured Overdraft (SOD): 20% of the accrued values of the NSCs,
KVPs pledged or surrender values of the LIC policy.
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Rate of Interest (OD/DL against govt. securities)
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Base Rate + 5.25% (PER: 14% p.a.)
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Processing Charges
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| 0.25% of the loan amount with a minimum of Rs 100/- for SODs & Rs 50 /- for demand loans |
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Repayment
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Maximum period : 60 Months
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SOD: Continuation of facility based on Annual Review
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