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Personal Banking - ADVANCES |
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Deposits |
Advances |
Safe Deposit Lockers |
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Welcome to HOUSING LOAN SCHEME FOR NRIs :
The scheme covers both Non-Resident Indians (NRIs) as well as Persons of Indian Origin
(PIOs) and is similar to the Bank's normal Housing Loan Scheme except in respect of a
few features
Key features of the scheme are furnished below:
| Name of the scheme |
HOUSING LOAN SCHEME FOR NRIs |
| Eligibility |
Individual (s) over 21 years of age with a steady source of income, who are:
Non-Resident Indian holding valid Indian Passport.
OR
Persons of Indian origin (PIO), (A citizen of any country other than Bangladesh, Pakistan,
Afghanistan, Bhutan, Sri Lanka or Nepal and)
who (a) Held at any time an Indian Passport or
(b) He or either his parents or any of its grand parents was a citizen of India by virtue
of the constitution of India or the Citizenship Act 1955. |
| Margin |
The margin should be paid by an NRI borrower by way of foreign inward remittance
through normal banking channels or out of his/her NRE/FCNR/NRO accounts in India. This
should be received in advance before disbursal of loan |
| Other Instructions |
The loan will not be granted for purchase of land only.
Loans should be granted for acquisition of only one house/flat for self-occupation by
the non-resident borrower on his return to India and not for any other purposes
The cost of construction of building shall not be less than 50% of the total cost.
The borrower should meet cost of escalation. An undertaking to be obtained from him to
the effect before disbursing the loan.
NRI must have accounts with the branch and should agree to confine all his banking
transactions with the branch.
Joint Loans with resident Indian (spouse, son & daughter) may be granted or non-resident
Indian may stand as a guarantor for housing loans granted to close relative i.e. spouse,
son & daughter
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Welcome to Loan for Power Sector Employees:
Key features of the scheme are furnished below:
| Name of the scheme |
Loan for Power Sector Employees |
| Purpose |
Purchase of food grains, expenses for festival and educational fees |
| Eligibility |
All permanent employees drawing basic pay not exceeding Rs.16290/- per month
(under suspension will not be eligible)
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| Loan Amount |
1.5 times of basic pay subject to
Max. Rs 8000/-(Rounded of nearest 100 Rs.)
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| Margin |
Nil |
| Rate of interest |
As applicable from time to time |
| Repayment |
8 EMI |
| Security |
Application cum recommendation letter
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| Processing Fee |
NIL |
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Welcome to SBBJ REVERSE MORTGAGE LOAN SCHEME:
Key features of the scheme are furnished below:
| Name of the scheme |
SBBJ REVERSE MORTGAGE LOAN SCHEME |
| Objective of the scheme |
To provide a source of additional income for senior citizens of India who own
self-acquired and self-occupied house property in India.
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| No. of borrowers |
Single or jointly with spouse in case of a living spouse.
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| Age of first borrower |
Above 60 years |
| Age of spouse |
Above 55 years |
| Title of the property and number of borrowers |
Case - Title in single name and loan availed jointly with spouse
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| Encumbrances |
The property should be free from any encumbrance.
However in case of property purchased by availing Home Loan from SBBJ and mortgaged to
SBBJ, it will be considered for RML, subject to closure of the Home Loan account out of
the proceeds of RML.
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| Security |
The RML shall be secured by way of equitable mortgage of residential property. |
| Tenor |
Age of the younger of the borrowers
between 58 and upto 68 years : 15 years
Age of the younger of the borrowers above 68 years : 10 years
OR till death of the borrower(s), whichever is earlier. |
| Periodicity of availing loan |
1. Monthly / quarterly payments
2. Lump sum payment. Lump sum Payments should be conditional and limited to medical
expenses.
The maximum lump-sum payment shall be restricted to 50% of the total eligible amount of
the loan subject to cap of Rs. 15.00 lacs, to be used for medical treatment of self,
spouse and dependents, if any. The balance loan amount would be eligible for periodic
payments. |
| Quantum of loan |
The loan amount would be 90% of the value of property. Loan amount would include
interest till maturity. The loan instalments payable to the borrower(s) would be as under
for a loan amount of Rs. 1 lac (at interest rate of 10.75% p.a.)
| Loan Tenor (years) |
10 |
11 |
12 |
13 |
14 |
15 |
| Monthly instalments (Rs.) |
468 |
399 |
343 |
297 |
258 |
225 |
| Quarterly instalments (Rs.) |
1,423 |
1,215 |
1,045 |
905 |
787 |
687 |
| Lump sum payment (Rs.) |
36,022 |
32,525 |
29,368 |
26,517 |
23,944 |
21,619 |
The maximum loan amount is proposed to be kept at Rs. 1 Crore and minimum Rs. 3 lacs
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| Repayment / Settlement |
The loan shall become due and payable only when the last surviving borrower dies or opts to sell the home, or
permanently moves out of the home for to an institution or to relatives. Typically, a "permanent move" may generally
mean that neither the borrower nor any other co-borrower has lived in the house continuously for one year or do not
intend to live continuously. |
| Pre-payment of loan |
The borrower(s) will have option to prepay the loan at any time during the loan tenor.
There will be no prepayment penalty. |
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Welcome to SBBJ EZEE Car Loan Scheme :
Key features of the scheme are furnished below:
| Name of the scheme |
SBBJ EZEE Car Loan Scheme |
| Eligibility |
All new Car Loans to public applications received up to 31.12.2010
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| Interest Rate |
8.25% p.a. (Fixed) for first year and 10% p.a. for 2nd & 3rd year for all new car loans
sanctioned and disbursed up to 31.12.2010. No other interest concession can be given under
any tie-up arrangement or otherwise below this offer rate during the offer period.
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| Reset Period |
Interest Rate will be reset after expiry of 36 months from the date of sanction to the applicable
card rate contracted as on the date of sanction under the respective new car loan schemes i.e. Spreads
below / above BPLR as applicable on the date of sanction as per the agreement. |
| Processing fee |
0.50% of loan amount |
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Welcome to SBBJ MY HOME LOAN:
Key features of the scheme are furnished below:
| Name of the scheme |
SBBJ MY HOME LOAN |
| Availability |
For loans at least partly disbursed on or before 31.07.2010 |
| Facility Type |
Term Loan |
| Loan amount |
Any amount |
| Interest rate |
Interest rate during the first year (i.e. till first anniversary date from the date of
first disbursement) is Fixed at 8% p.a..
>Interest rate during next two years is Fixed at 9.00%. p.a
>Interest rate after three years may be Fixed or Floating as per the borrowers choice
made at the time of sanction. If floating rate option is chosen, then the rate will be
3 % below BPLR for SBBJ Easy Home Loan and 2.50 % below BPLR.
For SBBJ Home Advantage . If fixed rate option is chosen, then the rate will be 0.75%
below BPLR.
prevailing on the third anniversary date from the date of first disbursement, and shall
have a reset frequency of 5 years from the third anniversary date of the loan. Fixed
interest rate shall be subject to force-majeure clause.
>Concessions including discretionary concession, if any, will be available only on interest
rate applicable after three years.
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| Repayment programme |
If interest rate during the first year is X %, interest rate during next two years is Y%,
and interest rate after three years is Z% , and loan period is T months then The parameters
used for computation of EMI will be as under
| Period |
EMI |
Principal |
Interest rate, % p.a.
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Term. In months
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First 12 months
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EMI1 |
Full loan amount |
X% |
T |
Next 24 months
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Balance outstanding at the end of 12 th month |
Y% |
T-12 |
Remaining Loan period
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EMI3 |
Balance outstanding at the end of 36 th month. |
Z% |
T-36 |
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| Eligible loan amount |
For the purpose of loan eligibility based on EMI/NMI ratio, EMI3 mentioned above, i.e.
EMI for the loan period after 36 months should be used. For this purpose, EMI3 will be
arrived at using BPLR as on the date of sanction.
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| Processing Fee |
As per Housing Loans |
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Welcome to PENSION PLUS LOAN SCHEME:
Key features of the scheme are furnished below:
| Name of the scheme |
PENSION PLUS LOAN SCHEME |
| Purpose |
To meet personal expenses of Pensioners |
| Eligibility |
I) Pensioners:
All Central, State Government pensioners and SBBJ pensioners maintaining pension accounts
with our branches subject to condition that pensioner should not be more than 72 years
of age.
II). Family Pensioners:
Family pensioner, i.e. spouse authorised to receive pension after the death of the
pensioner, subject to condition that family pensioner should not be more than 65 years of
age.
(III) Pensioners whose pensions are disbursed by Govt. Treasuries by cheques
drawn in favour of our branches as per mandate of the pensioner are also eligible subject
to condition that pensioner should not be more than 72 years of age.
In such cases, the original Pension Payment Order (PPO) remains in custody of the Treasury
and the pensioner will give a mandate to the Treasury for payment of pension through a
particular branch of the Bank.
Such pensioners will be included under the purview of the scheme subject to the following
conditions:
The pensioner concerned will furnish an irrevocable undertaking that he / she will not
amend the mandate to the treasury to pay the pension from a particular SBBJ branch, during
the currency of the loan availed by him from SBBJ.
The concerned Treasury consent in writing that it will not accept any request from the
pensioner to transfer his / her pension payment to any other bank / branch till an NOC is
issued by the Bank.
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| Age of pensioner |
The pensioner should not be more than 72 years of age at the time of availment of loan
and family pensioner should not be more than 65 years of age. |
| Loan Amount |
a) Pensioners: Maximum of 12 months net pension with a ceiling of Rs.3.00 lac.
(b) Family Pensioners: A maximum of 9 months net family pension with a ceiling of Rs.1.50
lacs
In no case the EMI should be more than 25% of the net pension drawn by the family
pensioner.
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| Margin |
NIL |
| Primary security |
NIL |
| Collateral Security (Guarantee) |
Pensioners: Third party guarantee (TPG) of the spouse eligible for family pension.
In the absence of the spouse, TPG of any other family member or a third party worth of
the loan amount.
(b) Family Pensioners: Third party guarantee of a person who has
been maintaining a satisfactorily conducted account with the bank, preferably of the
son/daughter of the family pensioner.
In case of death of the guarantor before repayment of the entire loan, fresh third party
guarantee of an acceptable person with adequate means should be invariably obtained
otherwise the loan should be recalled.
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| Repayment |
| Age at the time of loan sanction |
Repayment period |
Age at the time of full repayment |
| Upto 70 years
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36 months |
73 years |
| 70-72 years |
24 months |
74 years |
Repayment will be in EMIs commencing from the pension payable one month after disbursal of loan.
Instalment is deducted at the time of payment of pension.
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| Interest Rate |
0.50% below SBBJ BPLR, i.e. 11.75 % p.a.
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| Type of loan |
Demand Loan
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| Processing Fee |
NIL |
| Disbursement |
The amount may be credited to SB or CA of the pensioner. |
| Disbursement |
The amount may be credited to SB or CA of the pensioner. |
| Authorised branches |
All branches maintaining pension accounts. The loan to be given by the branch paying the pension. |
| Other condition |
Pensioners will have to submit their PAN Number or Form 15 H before availing the loan under this scheme. |
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