Tag: Loan

J&K Bank Coaching Fee Loan Scheme Check Eligibility
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NATURE OF FACILITY
Term Loan
PURPOSE
Financing fees of coaching classes or institutes that train students for entrance examinations to courses like medicine, engineering and civil services etc. and for other related expenses like lodging / boarding, purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials.
CLASSIFICATION
Priority.
ELIGIBILITY
Student should be an Indian National and should have completed Class X or above aspiring for admission in Engineering, MBBS, MBA, Post-Graduation courses etc.
Students pursuing graduation/post-graduation course or employed individuals, desirous of competing for Civil Service Exam of UPSC / State Public Service Commission for employment in IAS, KAS, IPS, KPS etc.
The students should have secured a minimum of 55% marks in the previous qualifying exam.
Age not exceeding the maximum for targeted competitive exam
Parent/Guardian only borrower, if age of the student is below 18 years.
Parent/Guardian, jointly with the student if age of the student is 18 years or above.
BORROWER ELIGIBILITY
Permanent Employees of State / Central Government, Government / Semi-Government Undertakings, Autonomous Bodies, Public Limited Companies / Private Limited Companies who have been in current employment for a period of not less than two years.
Professionals, Self Employed Individuals ,Proprietorship Concerns, Persons engaged in agricultural and allied activities having at least one year satisfactory dealing with J&K Bank.
Pensioners State/Central Government, Public Sector Undertaking.
BORROWER’S AGE
Maximum age of Parent/Guardian at loan maturity: 65 years or age of retirement whichever is earlier.
If Parent/Guardian is a pensioner maximum age at loan maturity: 68 years
MAXIMUM LOAN:
Rs. 2 Lakh per child for coaching studies in India.
Maximum Amount per parent/guardian- Rs.4 Lakh only.

Finance for purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials should not exceed Rs. 40,000/= per student within the overall limit of Rs. 2.00 Lakh.
QUANTUM OF FINANCE
For Permanent Employees / Pensioners: Maximum 18 times of gross monthly salary / pension/ income or 90% of coaching fee (which may include boarding & lodging expenses if available in-house) plus 75% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials or Rs 2 Lakh per child/student, whichever is lower.
For Other Eligible Categories: 1.5 times of average gross annual income of last two years or 90% of coaching fee (which may include boarding & lodging expenses if available in-house) plus 75% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials or Rs 2 Lakh per child/student, whichever is lower
PROCESSING CHARGES
Rs. 250
MARGIN
10% of the coaching fee (which may include boarding & lodging expenses if available in-house).
25% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials
SECURITY
Primary : NIL
Collateral: Third Party Guarantee of One person.
In case of pensioners, guarantee of one person & guarantee of Spouse eligible for family pension shall be obtained.
No third party guarantee required in respect of permanent employees of State – UT and Central Government, State–UT / Central Government Undertakings & Autonomous bodies drawing salary through our Bank and where letter of undertaking from employer is available.
RATE OF INTEREST (SUBJECT TO CHANGE)
RLLR + 2% Floating
Click here for rate of Interest
REPAYMENT
36 months including moratorium period of 3 months.
The post J&K Bank Coaching Fee Loan Scheme Check Eligibility and Rate of Interest appeared first on Kashmir Publication.
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#Bank #Coaching #Fee #Loan #Scheme #Check #Eligibility
( With inputs from : kashmirpublication.in )
March 2, 2023
J&K Bank Bike And Scooty Loan Scheme Check Eligibility
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PURPOSE
For purchases of fresh Two wheelers i.e. Scooters, Scooties, Motor Cycles, Mopeds, Battery-Operated Scooters etc of any make and model.
ELIGIBILITY
Employees of Government/Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or Reputed Establishments.
Professionals or Self-employed individuals / Businessmen / Employees on contractual basis (Rehbare-I-Talim, Rehbare-I-Zerat)
Pensioners , Family Pensioners drawing their pensions from our Bank.
Persons engaged in Agricultural and allied activities.
Students with a parent (Mother or father or both) as Co-borrower. Income of both the father and mother can be considered for arriving at quantum of finance and repaying capacity.
Housewives aged 18 years & above, with spouse as Co-borrower. Income of the spouse shall be considered for finance.
Minimum employment
(Applicant/Co-borrower): The applicant must have been in current employment for a period not less than 6 months or must have a business standing of at least 1 years.
Employees on contractual basis in Government / Semi-Government undertakings, Autonomous bodies & public Sector undertakings shall also be eligible, if they have been in current contractual job for a period not less than 1 year and the remaining contract period is longer than the chosen repayment period.
AGE
Minimum age of applicant/co-borrower: 18 years
(16 years for purchase of scooter having engine capacity below 55CC).
Maximum age of applicant at loan maturity: 65 years.
INCOME CRITERIA
Minimum Net Annual Income : Rs. 75,000/- .
QUANTUM OF FINANCE
Minimum: Rs.25,000/-
Maximum: Rs.2,50,000/-
MARGIN
10% of the ex-showroom price for Two wheelers with ex-showroom price up to Rs.1,00,000/-.
20% of the ex-showroom price for Two wheelers having ex-showroom price above Rs.1,00,000/-.
REPAYMENT PERIOD
Maximum period of 60 months.
RATE OF INTEREST (SUBJECT TO CHANGE)
RLLR+2.00% (Fixed) RLLR+1.50% (Floating)
Click here for rate of Interest
Rebate of 25 basis point for female borrowers.
SECURITY
Primary
Hypothecation of Two – Wheeler to be purchased.
Collateral
a) No third party guarantee required in respect of permanent employees of State / Central Government, State / Central Government Undertakings & Autonomous Bodies drawing salary through our Bank and where letter of undertaking from employer is available.
b) Guarantee of one person for all others.
PREPAYMENT CHARGES
Nil
PROCESSING CHARGES
1% of Loan amount to be paid upfront subject to a
Minimum of Rs. 500/- and
Maximum of Rs-2000/
The post J&K Bank Bike And Scooty Loan Scheme Check Eligibility and Rate of interest appeared first on Kashmir Publication.
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( With inputs from : kashmirpublication.in )
March 2, 2023
United States | The Supreme Court is considering Biden’s plan for student loan forgiveness

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Under the relief plan, anyone making less than $125,000 a year could have their student loans cut by $10,000.
of the United States the supreme court will hear the president on tuesday Joe Biden a plan that would seek to eliminate nearly $400 billion in student loan repayments.
The Supreme Court is expected to make a final decision by the end of June on whether millions of Americans will have their loans forgiven.
Under the relief plan, anyone making less than $125,000 a year could have their student loans cut by $10,000. $20,000 of loans for students with state need-based aid would be forgiven.
#United #States #Supreme #Court #Bidens #plan #student #loan #forgiveness
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( With inputs from : pledgetimes.com )

February 28, 2023
ED arrests Delhi govt teacher, middleman for helping Chinese loan app accused

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New Delhi: The Enforcement Directorate (ED) on Monday said that they have arrested middleman Jeetendra Prasad and Delhi government school Hindi teacher Dinesh Singh Kushwaha for allegedly receiving Rs 2.60 crore from an accused involved in Powerbank app (Chinese loan app) case for getting his work done.
This is the same Chinese app by which Chinese lenders cheated Indian nationals to the tune of Rs 250 crore.
The two were produced before a special PMLA court which sent them to ED custody till March 3.
“Cash of Rs 47.5 lakh, forged summons, notices, duplicate official stamps were recovered during searches conducted at the house of Jeetendra Prasad,” the official said.
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( With inputs from www.siasat.com )

February 27, 2023
JK Grameen Bank Two Wheeler Loan Check Eligibility

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Purpose:
For purchase of new Two-Wheelers i.e. Scooters, Motor Cycles, Scooties, Battery-Operated Scooters, etc. of any make and model.
Eligibility:
1. Employees of Government / Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or Reputed Establishments, Professionals or self-employed individuals/ Businessmen, etc.
2. Pensioners, drawing their monthly pension from our Bank or other Banks whose spouse is alive and is eligible for family pension. The spouse shall stand as guarantor.
3. Minimum age of applicant: 18 years.
4. Students, aged 18 years & above, with Father or Mother or Spouse as co-borrower.
5. Maximum age of applicant at loan maturity: Age of Retirement for salaried individuals & 65 years for others.
6. Minimum employment: The applicant must have been in current employment for a period not less than 1 year or must have a business standing of at least 2 years.
7. The borrower should have a valid driving license.
8. Minimum Net Annual Income of Rs.1.00 lac.
Amount of Loan:
1. 12 times net monthly salary/ income or 75% of the ex-showroom price of two wheeler or Rs. 1.00 lac ((Rs.2.00 lac for motorcycles only), whichever is less.
2. In case of girl students/ working ladies, the maximum finance shall be available up to 85% of the ex-showroom price of scooties within the above prescribed limits.
3. In case the requirement is more than the maximum finance amount, the borrower must bring that amount as additional margin.
4. The net monthly home take income/ salary of the borrowers after including the installment amount on this loan should not be less than 40% of the gross monthly income/ salary.
5. In case of students who are either still studying/ don’t have regular or documented source of income, the finance shall be provided in their name with parent/ Guardian/ Spouse as co-borrower and the 40% net home take salary principle shall apply to co-borrowers.

Margin:
1. 25% of invoice value
2. 15% of invoice value (for girl students/ working ladies for purchase of scooties only).
Security:
1. Primary: Hypothecation of two-wheeler to be purchased.
2. Collateral: Third party guarantee of one person of sound net means/ income to withstand the liability.
Repayment:
Maximum of 60 months. However, a borrower can opt for any tenure within the maximum ceiling.
Processing charges:
0.50% of the loan amount.
(NIL for girl students/ working ladies for purchase of scooties only).
* Conditions Apply
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( With inputs from : kashmirpublication.in )

February 27, 2023
J&K Consumer Loan Scheme Check Eligibility and Rate of Interest
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- Permanent Employees of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies.
- Employees on contractual basis with Central/State Govt, Government/Semi-Government Undertakings& Autonomous bodies shall be eligible, if they have been in current contractual job for a period not less than I year and the remaining contract period is longer than the chosen repayment period.
- Teachers under Rehaber-a-Taleem, J&K Govt.
- Officials under Rehaber-a Zeerat, J&K Govt.
- Pensioners both State/Central drawing their monthly salaries/pension through our bank.
- Employees of Private Limited Companies, Private Organizations, Reputed Establishments having a minimum 1 year relationship with our bank (Assets or liabilities).
- Professionals, self-employed individuals (Businessmen included) & Proprietorship Concerns, having a minimum 1 year relationship with our bank (Assets or liabilities)
- Finance under this Scheme shall also be provided to regular teachers of recognized private schools (must be permanent residents of Union Territories of J&K and Ladakh).
NOTE:Employees on Adhoc basis shall not be eligible.
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( With inputs from : kashmirpublication.in )
February 26, 2023
JK Bank Loan Scheme For Android and Apple Phones Check
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NATURE OF THE FACILITY
Term loan.
PURPOSE
Purchase of Mobile Phones (IOS, Blackberry, Android and Windows based).
ELIGIBILITY
Permanent Employees/Pensioners of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies drawing salary through our Bank and where letter of undertaking from employer is available.
Customers already availing seasoned credit facilities (aged more than 2 years) where in there have been no past dues of more than one month during the currency of the loan.
AGE
Minimum: 21 years.
Maximum age of Applicant at loan maturity: For employees Date of retirement or 60 Years whichever is earlier.
For others: 65 years.
SCALE OF FINANCE
Minimum Finance: 10,000.
Maximum Finance: 75,000 or 12 months net income for purchasing upto three Smartphones or 90% of the invoice value of the Smartphone(s) whichever is lower.
Maximum finance (in case of individual small businessmen who do not file their tax returns and do not maintain the financial statements) is 10% of the credits in the operative account of the borrower during the last 12 months or 90% of the invoice value of the Smartphone(s), whichever is lower.
For Govt. employees gross deductions should not exceed 60% of gross salary while as for others deductions should not exceed 50% of gross income.
MARGIN
10% of the invoice value
SECURITY
Primary: NIL
Collateral: NIL
PROCESSING CHARGES
350/- plus applicable GST
REPAYMENT
30 Equated Monthly Installments.
PREPAYMENT
NIL
RATE OF INTEREST (SUBJECT TO CHANGE)
1 Year MCLR + 3% (fixed)
Click here for rate of Interest
The post JK Bank Loan Scheme For Android and Apple Phones Check Eligibility appeared first on Kashmir Publication.
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#Bank #Loan #Scheme #Android #Apple #Phones #Check
( With inputs from : kashmirpublication.in )
February 26, 2023
JK Bank Loan Scheme For The Purchase Of New Cars
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To provide finance for purchase of new cars/vans/jeep/SUV/MUV, fuel operated as well as electric cars, for Private Use only at:
“Ex-Showroom” Prices
OR
“On Road Prices” wherever opted by Borrower(s) shall mean Ex-Showroom Prices plus:
- One Time Registration Charges
- First Insurance Premium
- Cost of Accessories (should be limited to 10% of Ex-Showroom Price).
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#Bank #Loan #Scheme #Purchase #Cars
( With inputs from : kashmirpublication.in )
February 24, 2023
JK Grameen Bank Home Loan Scheme Check Eligibility
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Eligibility:
a) A permanent employee working in Govt. / Semi-Govt. / Public Sector undertaking/ Autonomous Bodies having completed minimum 2 years of confirmed service as on date of application. The employee should be maintaining his/ her salary or saving bank account with the Bank or maintaining his salary account with other Bank.
b) Employees of Reputed Companies with a minimum of 3 years of service.
(c) Central/ State Govt. Pensioners, except family pensioners, drawing their monthly pension from our bank whose spouse is alive and is eligible for family pension.
(d) Farmers/ Orchardist/ Business-men/ Traders/ Contractors with a minimum standing of two years.
(e) Professionals & Self Employed Persons like Doctors/ Engineers/ Architects/ Chartered Accountants/ Advocates etc. with a minimum standing of 2 years.
2) Age of the Applicant:
- Minimum : 18 years
- Maximum:
  a) For salaried employees the loan repayment period shall be adjusted in such a way that the loan along with interest is adjusted atleast six months prior to the date of retirement.
  b) For pensioners the loan sanctioned will be fully repaid by the time pensioner attains the age of 70 years.
  c) For others, the maximum age at loan maturity shall be 65 years
  (Actual loan amount will be determined taking into consideration such factors as applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house etc.)
3) Quantum of Loan:
For the purpose of working out of loan assistance, Project cost shall be estimated on realistic basis at current cost of construction/ valuation in case of readymade houses from qualified approved engineers. The maximum loan that can be considered for sanction under direct finance housing as under:
- i) For construction/ purchase of built House/ flat-
  60 months net salary/ income or Rs. 30.00 lacs whichever is lower. For pensioners, the maximum eligible loan amount shall be 36 times the gross monthly pension.
- ii) For repairs/ renovation/ extension/ addition-
  30 months net salary/ income or Rs.15.00 lacs, whichever is lower.
- iii) For purchase of a plot of land for construction of dwelling house:
  30 months net salary/ income or Rs. 12.00 lacs whichever is lower. Maximum size of plot of land to be purchased shall not exceed 1 kanal.
Loan cases over and above Rs.30.00 lacs can also be entertained after obtaining proper permission from Head Office
Branches may extend finance to a person who already owns a house in town/village where he resides, for buying/ constructing a second house in the same or other town/ village for the purpose of self occupation.

4) Margin:
25% of the project cost.
5) Security:
For loans upto Rs.2.00 lacs:
Primary: Negative Lien on house property with power of attorney to sell the same in case of default.
Collateral: Third party guarantee of one person of sound financial net means, acceptable to the Bank and good for the loan amount.
For loans above Rs.2.00 lacs:
Primary: Mortgage of the house/ property to be constructed/ purchased along-with the land underneath and appurtenant thereto it.
Collateral: Third party guarantee of one person of sound financial net means, acceptable to the Bank and good for loan amount.
6) Repayment Period:
The loan along-with interest at prevailing rate shall be repayable in 5 Years to 20 years in equal monthly installments after the moratorium period.
In case of salaried employees, the repayment period shall be fixed in a manner that the entire principal amount along with interest is liquidated six months prior to the date of his/ her retirement within the maximum repayment period of 20 years. Moreover, it shall be discretion of the borrower to repay the loan in shorter period with larger sums or pay installments even during the moratorium period. For pensioners repayment period shall be 10 years or till the pensioner attains the age of 70 years whichever is earlier.
7) Processing Charges:
0.25% of the Loan Amount
50% of Concession in Processing Charges for Female Borrowers (Site/Joint Borrowers)
* Conditions Apply
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( With inputs from : kashmirpublication.in )
February 23, 2023
JK Bank Personal Consumption Loan Scheme Check Eligibility
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NATURE OF FACILITY
Term Loan.
PURPOSE
For any Personal need.
SCALE OF FINANCE
Minimum: Rs. 50000.00
Maximum: For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank: 42 X Monthly Gross Salary
For employees of Govt not maintaining salary account with J&K Bank: 24 X Monthly Gross Salary or Rs 15.00 lacs, whichever is lower.
For employees of other reputed institutions/ Corporate Houses maintaining salary account with J&K Bank: 30 X Monthly Gross Salary or Rs 25.00 lacs, whichever is lower
ELIGIBILITY
Permanent Employees of
Government (State/Central/ Union Territories).
Public Sector Undertakings,
Autonomous Bodies & Institutions of Government
Govt. Employees (J&K and Ladakh only) recruited under SRO 202 with minimum service of 18 months. Note: Employees of State Govt/Central Govt/ UT Govt, PSUs, Autonomous Bodies & Institutions of Government not maintaining salary account with J&K Bank shall also be eligible.
Permanent Employees of Reputed Institutions banking with J&K Bank. Only those regular/ permanent employees shall be eligible who are maintaining their salary accounts with J&K Bank and/or will shift existing salary accounts to J&K Bank with at least one salary received in that account.
Permanent Employees of Corporate Houses banking with J&K Bank. Only those regular/ permanent employees shall be eligible who are maintaining their salary accounts with J&K Bank and/or will shift existing salary accounts to J&K Bank with at least one salary received in that account provided:
These corporate houses have a minimum business of Rs 5.00 crore (Advances+ Deposits) with the branch/bank.
Concerned Zonal offices will identify such corporate houses and permit the respective branches under their jurisdiction to grant personal consumption Loans to their regular employees.
For branches operating outside J&K and Ladakh UTs, such loans shall be granted only to those regular employees of corporate customers who are permanent residents of periphery of the branch, otherwise such loans shall be additionally guaranteed by the employer.
SECURITY
For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank:
NIL
For all Others:
3 rd party Guarantee of Two persons having individual net worth of at least 200% of loan amount
MARGIN
NIL
RATE OF INTEREST (SUBJECT TO CHANGE)
Employees maintaining salary account with the bank: MCLR 3Y+3.00%
Employees not maintaining salary account with the bank: MCLR 3Y+4.00%
Click here for rate of Interest
REPAYMENT PERIOD
The maximum repayment period shall be 120 months with the repayment commencing next month of disbursement.
Important to note that repayment is to be fixed in such a way that loan shall be fully adjusted by or before employee retires from active service.
PROCESSING CHARGES
NIL
The post JK Bank Personal Consumption Loan Scheme Check Eligibility and Rate of Interest appeared first on Kashmir Publication.
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( With inputs from : kashmirpublication.in )
February 22, 2023