IB Jala Nidhi Scheme

Indian Bank Jalanidhi Loan Scheme

Apply Jala nidhi Loan Online

Target Group

Existing Flat / House / Office Commercial Establishment Premises Owners

Purpose

For establishing rain water harvesting structure

Quantum of Loan

Max. Rs. One lakh

Margin on loan

* NIL up to Rs.25,000
* 20% for loans above Rs.25,000

Interest Rate - Floating

Category Rate of Interest
Agriculturists 9.00% (Fixed) *
Others 10.00% (Fixed) *

* Presetly BPLR 11%

EMI Rs.465.96 for Sr.10,000/- for 24 months

Repayment

Category Period of repayment
Agriculturists 4 half-yearly instalments
Non Agriculturists 24 EMI

EMI for 24 months for every 10,000/- - Rs. 465.96


Loan Amount : Upto Rs.2500

Security : Pledge of LIC Policies/NSCs/ Indhra Vikas Patra/ Government Bonds - worth 100% Value

Loan Amount : Above Rs.25000

Pledge of LIC Policies/NSCs/ Indhra Vikas Patra/ Government Bonds - 100% Value or EM of Property - worth 100% Value

Other conditions

* 40% take home pay for salaried/40% of gross income for others to be maintained after recovery of proposed EMI.

* Property tax receipt to be produced in proof of ownership of the applicant.

* In case of loans for flats, if by-laws of the Flat Owners' Association / Society permit availment of loan, loan can be sanctioned in the name of the Association/ Society with guarantees (@125% of the proportionate share in the total loan amount) from all the flat owners

List of Focus Branches for Jala Nidhi Loan Scheme

Name of the Circle

Chennai
Coimbatore
Cuddalore
Dharmapuri
Kancheepuram
Kumbakonam
Madurai
Pondicherry
Salem
Thanjavur
Tirunelveli
Trichy
Vellore

Name of the Branch

1. Kumbakonam
2. Mannargudi
3. Mayiladuthurai
4. Thiruthuraipoondi
5. Tiruvarur

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