SyndSaral - Syndicate Bank

Synd Saral
Clean Demand loans/ Mortgage or Liquid security based loans/Consumer Durable loan to
Salaried/non-salaried /NRI /Women/Agriculturists
Purpose
Facility
Target
group
Quantum
Surety
Interest
Service
Charges
To meet any genuine personal credit needs
Demand Loan : Max. Tenure
Demand Loan/ Other Secured Loan : Max. Tenure 60
60 months for salaried &
months
Non-salaried
Secured Overdraft - Renewable every 2 years
ODC – Max `2 Lacs
Salaried Class:
Non-Salaried Class:
All types of borrowers:
Permanent employees of Professionals/Doctors/
Offering NSC/LIC/IVP/KVP/
State/ Central Govt / Public Engineers/Lawyer/CAs & RBI Bonds OR Mortgage of
Sector / Reputed Private
other non-salaried class property as security
Sector Companies/Teachers/ etc.
Professors /Pensioner
Not exceeding 12 Months
Maximum `5 lacs
NSC/IVP/KVP: 80% of
Gross Salary
i. 1. 50% of Gross Annual purchase
price
if
Income If latest ITAO is completed 24 months or
submitted or 100% of 65% of purchase price if
average Income if last 3 completed 12 months but
year
ITAOs
are less than 24 months
submitted
RBI relief bond: 80% of
1. 60% of the value of the purchase value
property if Mortgage LIP : 80% of Surrender
is offered as security
Value
rd
3 party acceptable to the Sanctioning Authority
Interest linked to Base Rate
Interest linked to Base Rate Interest linked to Base
Base Rate+4.75%pa
Base Rate+4.75%pa
Rate
Monthly compounding
Monthly compounding
Base Rate+1.75%pa
Monthly compounding
As applicable
Please contact your nearest Branch in your Town for further details.
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SyndSaral-For purchase of Consumer Durables-Special Features
Purpose
Facility
Tenure
Target group
Requirements
Quantum loan
calculation
Rate of interest
Guarantee/Surety
Security
To purchase consumer durables
Other Secured Loan
Not more than 60 EMIs
Salaried & Non- Salaried Class
Salary is to be credited with the Bank or Irrevocable letter from the employer to
deduct and remit the instalments..
Quotations for the items proposed to be purchased is to be submitted
Declaration for having purchased the items to be obtained
Salaried class : 80% of invoice value or 10 Months Gross Salary which ever is less
Maximum `2 lakhs
For a Pensioners – Aged 60-70 years-Maximum Rs 1 lac
Aged above 70 years-5 months gross pension or 0.50 lakhs,
whichever is less.
Non- Salaried:
80% of the invoice value or 50% of the Gross Annual Income
as per
ITAO or Return filed.
Interest linked to Base Rate
Base Rate+4.75%pa
Monthly compounding
Suitable third party acceptable to the Bank
Items to be purchased out of loan proceeds.
SyndSaral –Personal Loans to Women – Special Features
Purpose
Facility
Target group
Quantum of finance
Surety
Interest
Service charges
Others
To meet any genuine personal credit needs
Demand Loan
All working/Non Working women with identified source of income or savings.
Minimum loan – Rs 10,000/Maximum loan – Rs. 1,50,000/Terms and conditions of SyndSaral Scheme for General public are applicable if
the amount of loan is above `1.50 lakhs.
 If salary is credited at the branch – Not exceeding 12 Months Gross Salary
 If salary is not credited at branch- Not exceeding 10 Months Gross Salary.
 For professionals, businesswomen and non working women with proof of
income, quantum shall be 50% of the gross annual income.
 If maintaining a RD a/c – 10 months RD contribution
 If having SB a/c – 6 months average monthly balance maintained in SB a/c
Earning family member or a 3rd party acceptable to the Sanctioning Authority
Interest linked to Base Rate
Base Rate+4.75%pa-0.25%pa, i.e Base Rate+4.50%pa presently.
Monthly compounding
As applicable.
Terms and conditions of SyndSaral Scheme are applicable if the loan amount is
above `1.50 lakhs.
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SyndSaral –Personal loans to Agriculturists-Special features
Purpose
Facility
Eligibility
Quantum
Repayment
ROI
Guarantee
Other terms
Service charges
To meet any genuine credit requirements/purchase consumer durables like
TV, Fridge, Washing Machine, Video/ Audio Equipment, etc.
Demand Loan/Other Secured Loan (for purchase of consumer
durables/vehicles)
Agriculturists. Clean loans may be sanctioned only to existing customers who
have availed some facility with the bank and have mortgaged the property.
For new clients, the facility is to be extended only on secured basis.
Demand Loan: 50% of average gross annual income or `1.00 lakh, whichever
is
less,
OSL: 80% of the consumer durable/vehicle to be purchased or 50% of annual
income or Rs. 0.50 lakh, whichever is less.
Not exceeding 3 years. The repayment may be fixed to coincide with the
periodicity of his income, viz., monthly/quarterly/half-yearly/yearly
As applicable(compounding monthly)
Good third party guarantee acceptable to the Bank
Where there is an existing mortgage or charge on lands, the proposed loan
may also be covered by the same.
As applicable
SyndSaral- Personal loans to NRIs – Special features
Target group
Purpose
Nature of facility
Quantum
Repayment
Interest
Guarantee
Other terms and
conditions
NRIs having NRE /FCNR/NRO accounts for a period of at least 1 year and are
regularly sending inward remittances.
To meet any genuine personal credit requirements
Demand Loan
Clean Loan:Salaried class: 12 months Gross Salary
Non-Salaried : 50% of Gross Annual Income , as per latest ITAO/proof of
income.
WITH A CAP OF ` 3 lacs
35 EMIs
Interest linked to Base Rate
Base Rate+4.75%pa
Monthly compounding
3rd party acceptable to the bank; spouse having independent income can also
join as surety
Proof of income such as, IT Assessment Order, salary Certificate etc. shall be
submitted.
Loan documents shall be executed by NRIs themselves.
Power of Attorney holder shall not be permitted to execute the loan
documents..
Please contact your nearest Branch in your Town for further details.
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