CASY MITHRA - A PERSONAL LOAN SCHEME FOR INDIVIDUALS

Purpose of Advance:

For any legally permitted purpose

Amount of Advance

• Minimum Rs. 0.50 lakh
• Maximum Rs. 25.00 lakh

Salaried Persons

20 times of net monthly income of the applicant. Minimum net take home salary should be Rs 10,000/- excluding the instalment of the proposed Casy Mithra loan. (In case the spouse of the applicant stands as guarantor, his/her net income also can be added for arriving at the quantum of loan).

Others

1.50 times of the annual taxable income of the loan. Agricultural income shown in the IT return should not be considered for arriving at the total eligible amount. Minimum of three previous years IT return should be submitted, which have been filed on regular basis.(Income of spouse can be added if he/she guarantees the loan)

Security

• For loan amount upto and inclusive of Rs. 10.00 lakh: House plot/prime commercial plot, with or without building keeping 50% margin
• For loan amount above Rs. 10.00 lakh Residential property/prime commercial Property, with building keeping 50 % Margin.

Guarantee

Personal guarantee of atleast one person, preferably spouse of the applicant

Repayment Period

Maximum 5 years

Documents to be produced

• Proof of Identity & Residence, Assets, Income etc. from authority.
• Photograph of the applicant and guarantors.
• Other documents as decided by the sanctioning authority