Vijaya Bank- V-Professional

Purpose of Loan:

Loans for the purpose of purchasing of equipments / vehicles for business, repairing or renovating the existing equipments and / or acquiring and repairing business premises or for purchasing tools and / or for working capital requirements to eligible professionals to set up practice / business in rural / semi urban centers.

Eligibility:

Medical practitioners including dentists, Allopathic doctors, Ayurvedic doctors, Homeopathic doctors, Unani doctors, Chartered Accountants, Cost Accountants, lawyers, Engineers, Architects, Surveyors, Qualified Construction contractors, Management consultants, Lab technicians, Chemists & Druggists etc., who are not in regular employment of any employer or any person trained in any other art or craft who hold a degree or diploma from any institution established, aided or recognized by Government are eligible under the scheme to set up their practice / business activity.

Quantum of Loan:

Need based 90% (80% in case of vehicles) of the project cost (inter alias consisting of fixed assets and working capital requirement like rent on business premises, vehicle for business purpose) etc., subject to a maximum of Rs.15.00 lakh.

Rate of Interest:

• Rural/ Semi-urban :   BPLR+0.50= 12.75% 

• Others :   BPLR + 1.50= 13.75%

Margin:

The margin may be even by way of Term Deposits of our Bank / NSC etc./Surrender value on Life Insurance Policies etc., either in the name of the applicant or the guarantor.

Repayment:

Entire loan has to be repaid with interest in not more than 60 equated monthly installments with maximum repayment holiday of 6 months.

For more information: Website

Vijaya Bank- V-Rakshak

Purpose of Loan:

To meet the credit needs of the Defense Personnel (serving/retired) for purchase of consumer durable/ motor vehicles, for meeting any type of household expenses such as repairs/ renovations of the house, educational / marriage/ medical expenses/ family functions, etc/ traveling expenses in India and abroad, etc.

Eligibility:

• Defense Personnel above the age of 21 years are eligible.

• All retired and working Defense Personnel not more than 65 years of age.

• Pension/ salary should be routed through the account with our Bank.

Quantum of Loan:

25 times of the last drawn pension / net salary with a maximum ceiling of Rs.2.50 lakh. [Total EMI of the proposed loan/s and existing loan/s availed from our Bank/ others should not exceed 60% of the gross salary/ pension (receivables) ensuring 40% take home salary/ pension].

Repayment of Loan:

Repayable in maximum of 60 EMI (subject to age ceiling).

For more information: Website