- No guarantor required
- Conditional pre-closure – only after 1 year
- Amazon offer is applicable only if all documents are submitted online.
- Age at least 21 and less than 60 for Salaried
- Age at least 21 and less than 65 for Self Employed
- Be earning at least Rs.20,000 per month net income (Rs. 25,000/- in Madhya Pradesh)
Fees & Charges
- Preclosure fee = 4% of principal outstanding (plus applicable tax) in 2nd year..
- Part-payments can be made only after completion of 12 months. For part payments between 13 to 24 months, a fee of 4% is applicable on the part-payment amount. 3% is applicable on payments made between 25 to 36 months. 2% is applicable post 36 months.
- Part-payments are allowed only twice during the loan tenure and once a year, and the amount cannot exceed 25% of the principal outstanding.