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Loan Product Details

Secured General Loan

Overview

A sum of money which is borrowed to be paid back with interest over a period of time. Individual entity which borrows a sum of money from the lender and receives a direct benefit or direct interest from the loan.

Purpose of Loan


    • Up-gradation, renovation and extension of residential property.
    • Medical emergency expenditure for maintenance of family.
    • To meet the wedding expenditure.
    • Major surgical operation.
    • For expansion of your existing business or beginning a dream venture.
    • Meeting any other genuine need as may be specified by the Borrower and agreed to by the Lender.
    • Planning to start a small business. 

    Features & Benefits


    • Attractive Interests Rates.
    • Provides self-employed women financial assistance to support their business enterprises, such as raising livestock, running local retail shops called Kirana stores, and providing tailoring and other assorted trades and services.

    Eligibility Criteria

    • Member of the JANAASHA SOUTH NIDHI LIMITED Holding either a single account or a joint account with other family members’ viz., father, mother, wife, son or daughter with a regular source of income.
    • Individuals who may be employed/self-employed in business and have regular income.
    • Permanent employee of the central/state/defence/public or Joint Sector Undertakings/reputable firms/established educational institutions/professionals/businessmen having regular income. 

    Repayment Details


    • By EMI or Regular.

    Processing Charges & Service Tax


      • Processing Fees and Other Charges (Inclusive) PLUS Service Tax as applicable.

      Supporting Documents for Loan Sanctioning


      Photo Identity Proof:

      • Passport
      • PAN card
      • Voter's Identity Card
      • Driving Licence

      Residence Proof Requirements

      Residence Proof:

      • Telephone Bill
      • Letter from any recognised public authority
      • Electricity Bill
      • Ration Card
      • Letter from employer subject to satisfaction at bank
      • Proper Tax Book/Receipt
      • Registered Lease Deed
      • Application on Prescribed form
      • Two photographs of Borrower and Guarantors
      • Address proof of the borrower and Guarantors (copy of Ration Card, Election card, Telephone bill, driving licence, etc.)
      • Income proof, Copy of Income Tax Return, Financial Statement of the Firm, sales tax returns, etc.
      • Profile of Guarantors.
      • A loan should be guaranteed by three financially sound guarantors having a net individual worth twice the loan amount.
      • Any other marketable security.