Educational Loan Rate

8/8/2019 Educational Loan Rate

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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

Against deposits Cash Key Facility

Gold Loans Conventional Liquid Gold

Against scrips Mitra Varsha

Personal Loans

Housing Loan

SahayaVarsha ComputerLoan Car Loan

Two WheelerLoan

HOME CASH

Home DecorLoanEducationloanSuvidha LoaPrasanthi LoanPrasanthi Elite

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

y The most convenient method of obtaining advance against deposits.y Unlimited withdrawals permitted in a Current account upto 90% of the deposit am

and interest accrued.y Cheque book facility is available.y 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

y Loans against Gold ornaments.y Rs.1350 per gram of gold for all types of jewellery (including hall marked jewelle


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y Amount of Loan - Maximum 10 lacsy Period of loan - 6/12 months and can be further renewedy Simple easy documentation.

Liquid gold - SBT Gold overdraft

y Overdraft facility against pledge of Gold ornaments, operated as a running accoufacility of cheque book.

y Rs.1350 per gram of gold for all types of jewellery (including Hall marked jewelley Amount of Loan - Maximum 10 lacsy Loans are granted for 6/12 months and can be further renewed.

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Mitra Varsha Loan against shares & securities

A single over draft limit against the pledge of various types / combination of securitviz. 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 MaxRs.20.00 lacs

70% of deposit + accruedinterest. Max Rs.20.00 lacs

75% of purchase valueMax Rs.5.00 lacs

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Housing Loan

PURPOSE

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

PERSONS ELIGIBLE

i. All Resident / Non-Resident Indians with a regular monthly incomeii. Spouses of Non-Residents, who are residents and receiving regular monthly incoiii. Salaried persons, self employed businessmen, professionals and agriculturists, w

regular monthly income and who have a minimum of three years of standing / exin their line of activity.


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iv. The age should be such that the borrower is able to close the account before he athe age of 70.

AMOUNT OF LOAN

i. 60 times of Net monthly income (NMI)/ Average monthly income (AMI) for indiviupto 45 years of age.

ii. 48 times of Net monthly income (NMI)/ Average monthly income (AMI) for indiviover 45 years of age

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

Maximum amount of the loan is Rs.300 lacs.

MARGIN

y upto Rs.30 lac - 20%y above Rs.30 lac and upto Rs.3 crore - 25%

INTERESTclick here for interest rates

DISBURSEMENT

a. Construction of new building

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

b. Outright purchase 100% to the seller, after payment of the margin by the applica

c. Purchase of plot and construction of the building.

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

REPAYMENT

y UPTO 25 YEARS SUBJECTTO LIQUIDATTIONOFTHE LOANBEFORE THE

BORROWER REACHES THE AGE OF 70 YEARS.

It includes the repayment holiday of a maximum of 18 months. Repayment will b

completion of the house or 18 months from the disbursement of the first installmthe loan, whichever is earlier.

SECURITY

Mortgage of property by deposit of title deeds.


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PROCESSINGCHARGES

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/-

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, thepapers are to be submitted to the Bank.

PROOF OF INCOME

In case of salaried persons:

i. Salary certificate showing deductions.ii. Authorisation to deduct monthly installments from the salary of employee

credit of the loan account wherever available.

a. In the case of self employed / professional / business men.

Audited accounts and Balance Sheets/income tax assessmentorders/Returns/Memo/Statements of computation of taxable income filed for the

years.

DOCUMENTS TO BE SUBMITTEDFORCONSTRUCTION / IMPROVEMENT OFHOU

i. A copy of the plan inclusive of site plan approved by the Corporation/Municipality/Development Authority/Panchayat as required.

ii. A copy of the building permit issued by the Corporation/ Municipality / Panchayatrequired. In areas where building permit is not required a No Objection Certificatthe authority concerned.

iii. Estimate approved by licenced Egineers/Architects approved by local bodies.iv. Original and prior title deeds.v. Latest tax receipts.

vi. Possession Certificatevii. Encumbrance certificate from the Sub Registrar for the last 15 years.iii. Title clear certificate from the banks approved advocate.ix. Valuation report from the banks approved valuator.x. An affidavit cum Undertaking from the person that he shall not violate the sancti

plan.


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1. DOCUMENTS TO BE SUBMITTEDFOR PURCHASE OFHOUSES/FLATSi. A copy of the agreement for sale.ii. A copy of the Title deeds of the present owner.iii. A copy of the land tax receipt.iv

.A copy of the building tax receipt.

v. Encumbrance certificate from the Sub Registrar for the last 15 years.vi. Title clear certificate from the banks approved advocate.vii. 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 certificapossession certificate should be submitted. For purchase of plot alone all the documentsabove except the no. iv are to be submitted. After availment of the loan, encumbrance cfor four months after the date of mortgage is to be produced.

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Home Decor Loan To furnish houses/flats

Purpose To purchase new household furniture, Refigerator, Electric fans, Air-conditionput 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 subwithout overdues.

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

Amount

15 % ofHousing loan or Rs. 1.50 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

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Gyan Jyothi Education Loan

The scheme provides financial assistance to deserving meritorious students to pursue hi

education in India and abroad

PURPOSE

To meet the tuition and other fees\Examination\Library\Laboratory fee, cost of books\puof Computers\equipments\instruments\uniforms and the cost of passage for studiesabroad. Caution Deposit, Building Fund, Refundable deposit subject to 10% of the TuitioAny other expenses required to complete the course like study, tours, project work, thealso be financed.

ELIGIBLE COURSES

Studies in India

a. Graduation courses, BA, B.Com, B.Sc, BBA, BCA, BBM.

b. Post Graduation Courses, Masters and Ph D.

c. Professional courses like Engineering, Medical, Agriculture, Veterinary, Law, Dental,Management, Computer etc.

d Other courses leading to diploma, degree conducted by Colleges / Universities approvUGC / Govt / AICTE / AIBMS / ICMR.

e. Courses offered by National Institutes and other reputed private institutions.

f. Courses offered in India by reputed foreign universities.

g. Computer Certificate courses of reputed institutes accredited by Department of electrinstitutes affiliated to Universities.

h ICWA, CA, CFA

i. Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.

j. Regular Degree / Diploma courses like Aeronautical, Shipping etc approved by Directoof Civil Aviation / shipping if pursued in India. It also to be recognised by local aviation,

authority ( Pilot Training Course not included).

k. Evening courses of approved institutions.

l. Vocational Training and Skill development study courses. Distant / Offsite EducationProgramme not eligible for loan.

Studies abroad


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Graduation: For job oriented professional\technical courses offered by reputed universit

Post graduation: MCA, MBA, MS etc.

Courses conducted by CIMA London, CPA in USA.

ELIGIBILITY

The student should be an Indian National (NRIs not eligible)

i) have secured admission to professional\technical courses through entrance test\ meriselection process conducted by a Govt Agency / University

ii) have secured admission to foreign university institution.

Those who have not qualified through Entrance Test / Merit based selection procedure shave secured 50 % marks for general and 45% marks for SC / ST Candidates in the quasubjects, in the qualifying examination to be eligible for loan

BORROWER: Student and parent/guardian/spouse/parent-in-law/grand parents jointly.

In the case of employed students\professionals, loans can be granted in individual namesuitable guarantee.

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%

INTERESTclick here for interest rates (Interest Rebate : 1 % Interest concession if intdebited 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 5-7 years after commencement


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repayment.

SECURITY

Loans upto Rs.4 lacs : Co-obligation of parent/guardian/spouse/parent-in-lawparents as the case may be. No security

Above Rs.4 lacs and upto Rs.7.5 lacs Co-obligation of parent/guardian/spouse

in-law/grand parents as the case may bealong with collateral in the form o

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 suitvalue along with assignment of future income of the student for paymen

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 name of student\parent\guardian or any other third party with suitable margi

PROCESSINGFEE

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)

PAPERS TO BE SUBMITTED TO THE BANK

Two copies of passport size photographs.

Testimonials in original form from the head of the institution where the stude

studied last and from one or two other respectable persons not related

student.

Proof of admission to the course.

Schedule of expenses for the course.

Documents required for KYCCompliance (ID and address proof)

Copies of foreign exchange permit (if applicable)


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Copy of salary slip \ statement of income of parent \guardian.

FORMORTGAGE OF PROPERTY

Original and prior title deeds.

Latest tax receipts.

Possession certificate.

Encumbrance certificate for the last 15 years from the Sub Registrar.

Title clear certificate from the banks approved advocate.

Valuation report from the banks approved valuator.


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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

i. Salaried employees having net monthly income exceeding Rs.5,000/- and maintasalary account with us

ii. Pensioners drawing pension from our Branch having known sources of regular nemonthly income exceeding Rs.2,500/-

AMOUNT OF LOAN

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

MARGIN -NIL

INTERESTclick here forinterest rates

REPAYMENT

6 to 60 months in Equated Monthly Installments.

SECURITY

Primary - Nil

Collateral -

i. Equitable Mortgage of property having value not less than 200% of the loan amoii. Third party guarantee of two or more persons of sufficient worth acceptable to th

Bank ORiii.

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

b) Check off facility with one or two personal guarantee of sufficient worthamount above Rs.1 lac.

PROCESSINGCHARGES

Loans upto Rs.25,000/- = Rs.100/-


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Above Rs.25,000/- = Rs.250/-

PAPERS TO BE SUBMITTED TO THE BANK

1. Application form (in duplicate) and two passport size photographs2. Proof of income

In the case of salaried persons

i. Salary Certificate showing deductions.ii. Authorisation to deduct monthly installments from the salary of the employee for

the loan account where check-off facility is available.iii. Standing instruction to transfer monthly instalments from the salary account.

Pensioners

i. Authorisation to deduct the monthly installments from the Pension account.

ii. Proof for the other income.

For mortgage of property

a. Original and prior title deeds.b. Latest tax receiptsc. Possession Certificated. Encumbrance certificate for the last 15 years from the Sub-Registrar.e. Valuation report from the banks approved valuator.


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Suvidha Loan

Loan against mortgage of immovable property

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

1. Nature of Loan: Term Loan

2. Purpose: Consumer needs General Purpose Loan

3. Eligibility : Individuals who are :

a. employees of Government, Quasi Government, reputed companies/establ

b. Professionals, self employed and others who are income tax assesses.c. Engaged in agricultural and allied activities.d. Net monthly income of Rs.12,000 for salaried persons or net annual incom

Rs.1,50,000 in the case of others.e. 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 nincome in case of others.

Minimum Rs.50,000 - Maximum 1 Crore

6. Security : Equitable mortgage of non encumbered Residential /Commercial property in t

and possession of the borrower/spouse/close relatives (provided the property holders becomeguarantors 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 monthscheck off facility in the case of salaried persons/60 months where check off facility is notavailable.

9. Interest click here for interest rates

10. ProcessingFee : 2% of the loan amount. Max Rs. 50,000/-

11. Insurance : The property being mortgaged should be insured against the risk of fire/rio

earthquakes/lightning/floods etc. in the joint names of the borrower and the Bank for the fullvalue of the property.


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12. Papers to be submitted :

a. Application formb. 2 passport size photographsc. Copy of the income tax return for last 2 financial years duly acknowledged by ITO

d. Latest salary slip showing all deductions.e. TDS Certificate Form 16 in the case of salaried personsf. If property offered is an agricultural land converted as non-agricultural, copy of t

relative order should be made available.g. In the case of agriculturist a certificate of income issued by the village officer sho

produced.h. In the case of individuals engaged in trade/industry etc. wherever latest IT return

not available, the annual income can be assessment based on the IT return for thpreceding year and the last balance sheet

12.Documents to be submitted

i. Title deeds of the property proposed to be given as security.ii. Prior title deeds.iii. Latest tax receipts (both building and land)iv. Possession Certificatev. Encumbrance certificate from the sub registrar for the last 15 years.vi. After availment of the loan, encumbrance certificate for 4 months after the date o

mortgage is to be produced.


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Prasanthi

A clean Demand Loan Scheme specially designed for Pensioners

1. Pensioners

All Central Civil, Defense, Railway, Telecom, KSRTC (Kerala State Road TransportCorporation), KSEB, KWA,Kerala Agricultural University, State and Bank Pensionewhose pension accounts are maintained at our branches. Pension accounts includthose accounts to which Bank acts as the Pension Disbursing Officer and thoseaccounts 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 ceilingRs.1,50,000.

Age of pensioner over 60 years upto 65 years - A maximum of 12 months pensioceiling of Rs.1,25,000.

Age of pensioner over 65 years upto 75 years - A maximum of 10 months pensioceiling of Rs.1,00,000.

4. Guarantee

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

5.Margin Nil

6. Interest click here for interest rates7. Repayment Age upto 60 years - 54 equal monthly installments

Age above 60 years and upto 65 years - 48 equal mon

installments

Age above 65 years and upto 70 years - 36 equal mon

installments

8. Security The nominee to the pension should be a guarantor.9. Processing charges 0.5% of the limit, Minimum Rs.20/-


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10. Papers to be submitted to the Bank

Application form and two passport size photographs.

11. Documents to be executed

i. Demand Promissory Note in favour of the spouse/nominee for family pension andendorsed by the latter in favour of the Bank.

ii. DP Note Delivery Letter executed jointly by the borrower and the spouse/nomine


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Computer Loan

PURPOSE For purchase of home computers/PCs and other accessories like Printer/UPS etc.

PERSONS ELIGIBLE

Salaried and other regular income earners with a minimum of 3 years standing/ experietheir line of activity and spouses of NRIs, based on the monthly income of NRI.

AMOUNT OF LOAN 15 times ofNet Monthly Income (Maximum of Rs.1,00,000)

MARGIN 20% of the cost ofitems purchased

INTEREST click here forinterest rates

DISBURSEMENT Amount of the loan will be paid directly to the seller.

REPAYMENT PERIOD Maximum 72 months

SECURITY

Primary : Hypothecation of computer and the accessories purchased out ofBankFinance.

Collateral : a. For Loans upto Rs.50,000

i. Wherever check-off facility is available no collateral.ii. Personal guarantee of one or more persons of sufficient worth where chec

facility is not available.

b. For Loans above Rs.50,000

Equitable mortgage of property of value not less than the loan amount or other tangible securities of sufficient value or personal guarantee of one opersons of sufficient worth.

INSURANCE Insurance for loans above Rs.25,000

PROCESSING CHARGES

Loan Amounts Rural Branches Other Branches

upto Rs.10,000 Rs.40/- Rs.50/-

above Rs.10,000 Rs.4 /- per thousand Rs.5/- per thousand


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PAPERS TO BE SUBMITTED TO BANK

i. Application form in duplicate with two passport size photographs.ii. Proof of income

a. In the case of salaried persons :

o Salary Certificate showing deductions.o Authorisation to deduct monthly installments from the salary of the emplo

credit of the loan account where check off facility available.

a. In the case of business men/self employed/professionals :

o Audited accounts and balance sheet for the last three years.o Statement of computation of taxable income/Income tax returns filed.

i. A proforma invoice of the items proposed to be purchased.ii. Details of the guarantors wherever applicable.

DOCUMENTATION

i. Hypothecation agreementii. Guarantee agreement

GENERAL

i. Check off facility letter (if applicable)ii. Certificate from the borrower on the reverse of the bill confirming the receipt of it

good condition.iii. Stamped receipt from the seller/supplier.

FORMORTGAGE OF PROPERTY

a. Original and prior title deeds.b. Latest Tax Receiptc. Possession Certificated. Encumbrance Certificate for last 15 yearse. Title Clear Certificate from the Banks approved Advocatef. Valuation Report from the Banks approved valuator.


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Car Loan

For NRIs & Residents

Persons Eligible

y Salaried and other regular income earners with a minimum of 2 years standing/experience in their line of activity

y Spouse of NRIs, based on the monthly income of the NRI.

Amount of Loan

Eligible Amount Maximum

New Cars/Jeeps 30 times net monthly income Rs.30 lakhs

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 ofCar loans (from other banks) can be considered.

**Reimbursement of expenses incurred for purchase of new cars by way ofHypothecation is also considered.

Margin

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


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

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

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

ProcessingCharges 0.50% of the loan amount subject to a minimum of Rs.500/- andmaximum Rs.10000/-

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

Papers to be submitted to the Bank

y Application form (in duplicate)y Passport size photos (2 nos)y Proof of incomey A proforma invoice of the vehicle proposed to be purchased. Documents required

cars, please contact nearest branchy Details of guarantors

a. In the case of salaried persons :

i. Salary Certificate showing deductionsii. Authorisation to deduct monthly installments from the salary of the employee for

the loan account where check-off facility is available.

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

y Statement of computation of taxable income


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.. Two Wheeler Loan

For NRIs & Residents

Persons Eligible

y Salaried employees/pensioners, who are maintaining salary/pension accounts witwhere recovery of instalment at source is possible

Amount of Loan

Maximum Rs. 50,000 paid directly to the seller

Repayment

72 equated monthly installments

Security

y Hypothecation of the vehicle purchased out of bank finance.y Personal guarantee of one person of sufficient worth

For more information please contact our branch in your neighborhood.

or email to [email protected]

Educational Loan Rate

Documents

Transcript of Educational Loan Rate