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- For Purchase & Installation Of Off-Grid Solar Lighting & Photo –Voltaic Systems (Solar Inverters). The Finance Shall Be Granted For The Purchase Of The System From Authorized Dealers Of Reputed Companies.
ELIGIBILITY
- Confirmed Employees of: Government /Semi-Government Departments/Bodies/Agencies & Public Sector Undertakings.
- Permanent Employees of Private Companies or Reputed Establishments with minimum 2 years association with the Current Employer and maintaining salary account with us.
- Professionals, Self Employed Individuals & Businessmen with at least 2 years of experience in profession/business
- Retired Govt. Employees with age not more than 70 years on maturity of loan.
- Persons engaged in agricultural and allied activities.
QUANTUM OF FINANCE
- Individuals: 12 times net monthly salary/ pension / income.
Persons engaged in agricultural and allied activities: Maximum of 2 times net annual income as certified by concerned Tehsildar. - The maximum quantum of finance shall not exceed Rs 50000.00
MARGIN
- Nil
SECURITY
- Primary
Nil - Collateral
Nil for Employees of J&K State Govt. / Central Govt. / Semi Govt. Departments/ Bodies/ Agencies and PSU’s maintaining salary accounts with our Bank. - For others- Third Party Guarantee of ONE person acceptable to Bank and having sufficient net worth to withstand the liability.
PROCESSING CHARGES
- Rs. 500.00 plus applicable GST.
RATE OF INTEREST (SUBJECT TO CHANGE)
- Fixed rate of interest @ 3 year MCLR plus 3 % with monthly rests.
Click here for rate of Interest
TENOR
- Maximum Tenor of Loan shall not exceed 36 months.
The post J&K Bank Solar Equipment Finance Scheme Check Eligibility and Rate of Interest appeared first on Kashmir Publication.
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( With inputs from : kashmirpublication.in )
