Purposes  : 
Personal Loan may granted for the purpose of 
a. Purchase of Consumer durables and furniture/ fixture/ computers
b. Repairs / renovation of flat / house
c. Purchase of 2 wheelers
d. Marriage & other religious ceremonies
e. Domestic / Foreign tours & travels
f. Repayment of existing debt
g. Medical expenses for self / family members
h. For any purpose which is acceptable to bank .

Eligibility of Loans : The intending parties must possess / proposed to purchase the minimum extent of land fixed by the Bank from time to time. The land so possessed / proposed to purchase, should be in the name of the borrower and should have clear title. The permanent employees of the Govt. /Semi Govt. Public limited Companies / Bank Employees may also be eligible for the loan provided they have atleast 7 to 10 years of service to reach superannuation.

Maximum Limit :  The maximum limit of Personal Loan is restricted to Rs. 50,000/-

Repayment Period : Repayment of Loan will be by way of monthly instalment & interest and extended over a maximum of 3 years.

Co-obligants (Sureties) : There shall be atleast one co-obligant / surety owing immovable property / salaried persons / or such other persons as decided by the Bank from time to time.

Security :  The Personal loan shall be secured by one members of the bank & surety owing immovable property.

Rate of Interest :  The Rate of Interest chargable at present is 14% per annum. which may vary subject to the loan policy of the bank from time to time. For prompt repayment of loan as per repayment terms, an amount to the extent of 1.0% intrest rebate will be given, calculated & reimburesed at the end of september & march of every year.

Penal Interest : Penal Intrest shall be charged at 2% pa above the normal intrest rate on overdue loans.

Share Linking : The Borrower shall hold shares of the bank to the extent of 5% of loan amount sanctioned.

Processing Fee : 0.5% of loans amount will be charged as processing fee.