|Purpose||Financing for fulfilling fund requirement of the individual for single or various purpose like social function, entertainment, travel, medical expenses, repayment of personal borrowing etc.|
|Financing Ratio:||Up to 100% of the required fund.|
|Nature||i) Revolving & renewable (a/c type 3F)
(ii) Non-revolving & non-renewable (Scheduled Mortgage Loan- a/c type 3D)
|Disbursement||After completion of the loan documentation, credit limit is maintained on the mortgage loan account of the borrower and allowed to withdraw any amount within limit as per need under a/c type 3F and as per request of the client amount is disbursed on nominee a/c under Scheduled Mortgage loan, a/c type 3D.|
|Principal Repayment||(i) partially or lump sum within expiry.
(ii) On EMI/EQI basis.
|Interest Repayment:||On quarterly basis and/or on loan expiry date.|
|Security:||At least 150% coverage by the mortgaged collateral security or as guided by the prevailing NRB directive.|
|Tenure:||Maximum one year for revolving & renewable mortgage loan and maximum 10 years for schedule mortgage loan.|
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