Retail Lending Schemes & Product in syndicate Bank

Retail Lending Schemes & Product in syndicate Bank

The Syndicate Bank offers the following lending schemes or retail lending products. There are as follows:

Housing Finance.

Home Improvement Loan.

Can-mobile.

Can-carry

Can-cash

Swarna Loan.

Can-Mortgage

Can-Budget

Teachers loan

Can-pension.

Housing Finance:

Housing finance for purchase of ready building house / flat or construction of a house. There on according to “Syndicate Bank Credit Policy” the housing finance maximum loan amount shall be Rs.50 lakhs and for repairs, renovation and expansion shall be 75% of the project cost with a maximum of Rs.7.5 lakhs.

Sanctioning Authority for Housing Finance:

Sl. No.	Manager	Sanctioning Authority
1.	Senior Manager / Manager Incharge of Small branches	Rs.2.00 Lakhs
2.	Senior Manager / Manager Incharge of Medium branches	Rs.5.00 Lakhs
3.	Senior Manager / Manager Incharge of Large branches	Rs.10.00 Lakhs
4.	Chief Manager	Rs.15.00 Lakhs
5.	AGM’s and ELBs	Rs.20.00 Lakhs
6.	DGMs	Rs.20.00 Lakhs
7.	Circle Head	Rs.50.00 Lakhs

The entire loan together with interest should be repaid in equated monthly installment within a maximum period of 15/20 years from the date of disbursement.

Home-Improvement Loan:

Loan to individual for furnishing the house / flat as home improvement loan. This loan also comes under housing finance scheme. The maximum loan amount sanction is Rs.2 Lakhs. The margin must be 20% of the project cost the loan should be repaid with in a maximum period of 5 years. The processing charge in 0.5% of the loan amount subject to a minimum of Rs.500/- and maximum of Rs.10,000/-.

Can-Mobile:

For purchase of cars, four wheelers, two wheelers, new or used vehicles of new vehicles 90% of the invoice value for used vehicle snot older than 5 years in such case the margin will be 75% of the price agreed to between the sell and buyer. The repayment period not exceeding 72 months from the date of grant of the loan.

Can-Carry:

Loan scheme to individuals for financing of brand new durable utility articles including furniture loan under this scheme can also be considered for purchase of computers especially to the staff of corporate bodies and others. For any salaried person 80% of the invoice value of article may consider as loan under this scheme. The repayment of this loan should be within a period of 3 years from the date of grant.

Can-Cash:

Loan / Advances to individuals against approved shares / debentures / bonds units of mutual funds. To meet investment / domestic personal requirements. It should be ensured that the loan should not utilized for speculative purpose. The loan should not exceeds Rs.5.00 Lakhs per individual subject to the repayment capacity. The repayment must be within less than 60 months.

Swarna Loan Scheme:

Loans to individual (non-priority) against the security of gold ornaments can be granted for purposes such as meeting, meeting expenses and other unforeseen commitment the borrower should be state bank account holder with satisfactory dealings. The rate of advances shall be Rs.300/- per annum. The maximum advance should not exceed Rs.1.1 Lakhs.

Can-Mortgage:

To provide loans against the security of equitable mortgage of property (Land / Building) to the professionals businessman salaried person / individuals for meeting genuine needs. The borrower must have satisfactory dealing with the bank. The 50% on the value of the property proposed to be offered as security as per the valuation report given by the panel value of the bank. The loan along with the interest shall be clear in a monthly installment within a maximum period of 5 years.

Can-Budget:

To meet the genuine personal needs of the proposed borrowers are also called as personal loan. The maximum amount of loan is Rs.5.00 lakhs. The repayment must be in 60 (maximum) equated monthly installment.

Teachers loan scheme:

To meet their genuine personal needs. The incharge of all the bank branches is vested with powers to sanction loan under the scheme upto 6 months. Net salary subject to a maximum of Rs.1,50,000/- with processing charge of 1% on the loan amount. The repayment of entire loan amount be cleared within a maximum of 36 months in monthly installment.

Can-Pension:

To meet the cost of medical expenses and other genuine personal needs of pensions. The pension must be ex-employee of staff or central government the sanctioning authority 15 led with branch incharge the amount in size times of the amount of monthly pension subject to maximum of Rs.5,00,000 and to be repaid in 24 equated monthly installment.