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Who is an NRI?
A Non Resident Indian (NRI) as per Indias Foreign Exchange Management Act 1999 (FEMA), is an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period. An individual will also be considered NRI if his stay in India is less than 182 days during the preceding financial year.

Who is a PIO?
A person who is not a citizen of India is deemed to be of Indian origin if he is not a citizen of Pakistan or Bangladesh and if

he at any time held an Indian passport; or he or either of his parents or any of his

grandparents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955. A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a Person of Indian Origin is also treated as a Person of Indian Origin for the purpose of NRI deposits if the accounts are held jointly with the NRI/PIO spouse. PIOs are extended the same facilities for bank account maintenance in India as NRIs and are also,

for such purposes, called by the generic name as NRIs.

Procedure for Opening a Non-Resident (NRI) Account in India

Non resident Indians have been extended the facility to open an NRE/FCNR account from overseas, by downloading the form from the website of the bank of their choice. Generally, the account opening form must be accompanied by A passport copy, The visa or residence permit of the country the NRI is residing in, and A set of 2 photographs

The signatures on the form have to be verified by either officials at the Indian Embassy or consulate in the country of his residence or the Notary public. In case the particular bank has an overseas branch in the applicants city, documents can be verified at that office. The initial remittance must be sent along with the documents. NRIs can empower a local citizen to operate their domestic accounts through a Power of Attorney or a letter of authority. NRIs can appoint nominees, resident Indians or otherwise, to their account.

Deposit facilities provided by State Bank of Travancore to NRIs

What is a deposit account?

A deposit account, account is or other a current type that account, savings account, at be

of bank

a banking institution

allows money to

deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the bank, and represent the amount owed by the bank to the customer. Some banks charge a fee for this service, while others may pay the customer interest on the funds deposited.

Savings Bank Accounts Repatriable NRE (Non Resident External) Savings Bank Accounts

Running accounts - Frequent credits and withdrawals allowed [ can also be opened as Current Account] Maintained in Indian Rupees Cheque book facilities Current income of NRIs such as rent, dividend, interest, pension etc net of applicable taxes can be credited to this account. Can be opened with drafts, travelers cheques/currencies issued from abroad. Drafts issued in approved foreign currencies can also be converted into Indian Rupees. Balance can be repatriated abroad. Nomination Facilities available. Nominee can be resident or non-resident

Eligible for tax concessions. Interest earned exempt from Income Tax Can be opened jointly with another NonResident Indian Can be operated by a resident, duly authorised by the NRI Account Holder

Non-Repatriable NRO (Non Resident Ordinary) Account

When an existing resident goes abroad, his resident Savings Bank Accounts are to be termed as Non resident (Ordinary) Savings Bank Accounts. Balance in the account can be repatriated upto US Dollars 1 million per calendar year for any purpose. This includes sales proceeds of

immovable property credited to NRO accounts subject to payment of applicable Taxes.

Interest earned is subject to deduction of Income Tax at source. The NRI's local funds generated in India can be credited to these accounts. Interest earned in NRO A/C repatriable Nomination Facilities available Joint account with a resident permitted Operation by resident [Power of Attorney holder permitted]




INTEREST % BALANCE ACCOU Normal Senior Rural Semi Urban

NT Savings Bank A/c A. Domestic / NRO a. With Cheque book 3.50 facility b. Without Cheque book 3.50 facility c. No Frills Account NRE 3.50 3.50





100 0 50 0 N A





3.50 3.50



No minimum balance stipulation. If the

average balance per month is above Rs. 5000/- the services are not charged.

A. Savings Bank Deposits (Domestic/NRO)-3.50% per annum (w. e. f. 01.03.2003)

B. Term Deposits (Domestic/NRO) (w. e. f. 09.12.2010) PERIOD 15 days to 45 days 46 days to 90 days 91 days to 179 days 180 days to less than 1 year 1 year to less than 3 years 500 days 1000 days 3 years to less than 5 years 5 years to less than 8 years 8 years and upto 10 years RATES 5.00 5.00 7.00 7.25 8.25 8.50 8.60 8.60 8.60 8.60

Interest Rates for Bulk Deposit Rs. 1 Cr. and above. PERIOD (FROM 13.03.2010) 1 year and above BULK DEPOSIT RS.1 CR. AND ABOVE 6.00%

271 days to less than 1 year 181 days to 270 days 91 days to 180 days 46 days to 90 days 31 days to 45 days 15 days to 30 days 7 days to 14 days

5.50% 4.50% 3.50% 3.00% 2.25% 2.00% 1.50%

Fixed Deposits Repatriable NRE Fixed Deposits

NRE Rupee fixed deposits can be opened with the option of interest being payable once in a quarter or compounded at quarterly periods and payable along with principal on maturity. The minimum period for

which an NRE term deposit can be opened is 12 months and the maximum period is 60 months. These deposits can be:

Ordinary Term Deposits-Interest amount can be

credited to the depositor's account or an account of his choice, normally once in a quarter. Monthly interest payment permissible conditionally. OR

Special Term Deposits-Interest earned on the

deposits is added to the principal and compounded at quarterly intervals. The principal amount together with interest is repaid on maturity of the deposit. No interest is payable if the deposit is prematurely closed before the minimum period of 12 months. Premature closure attracts penalty of 1%

Loans can be granted against these deposits subject to a maximum of Rs.100 lakh as per RBI Guidelines.

NRE Thrift deposits

Fixed sums can be depoited every month for a fixed period Deposits maintained in Indian Rupees on repatriable basis Compound interest at same rates as applicable to other term deposits Periods from 12 months to 60 monthhs Eligible for tax concessions

NRE Super surplus scheme

Same as above but monthly deposit amounts can be varied according to availability of funds, subject to a minimum of core amount.

Non Resident Ordinary Term Deposits (NRO)

When an existing resident goes abroad, his resident fixed deposits are to be termed as Non Resident (Ordinary) Term deposits New accounts can also be opened. The NRI's local funds generated in India can be credited to these accounts. Periodicity from 15 days to 10 years Balance in the account can be repatriated upto US Dollars 1 million per calendar year for any purpose. This includes sales proceeds of

immovable property credited to NRO accounts which has been held by the NRI.

Earn Interest at domestic deposit rates Interest earned is subject to deduction of Income Tax at source. Interest earned in NRO A/C repatriable Nomination Facilities available Can be held jointly with a resident

Non Resident Deposits

NRE Savings Bank - 3.50% per annum (w. e. f. 1811-2005) Interest Rates for NRE Fixed Deposits ( w. e. f. 02-12-2010 ) PERIOD OF DEPOSIT 1 year to less than 2 years 2 year to less than 3 years 3 years above and upto 5 years PERCENTAGE OF INTEREST 2.54 % 2.51 % 2.79 %

Accounts in Foreign Currency FCNR Account

Accounts can be opened in six major currencies viz., US Dollar, Pound Sterling, Japanese Yen, Euro, Australian Dollar and Canadian Dollar. Accounts are opened for periods ranging between 12 months and five years. Interest is compounded on half yearly basis under the reinvestment plan if opened for 366 days or more. On maturity, payment shall be made in foreign currency/Indian rupees, as desired by the depositor. Affords protection against fluctuation in Exchange rates. Interest is payable at half yearly intervals only. Interest can be compounded under the reinvestment plan.

Interest rates offered are higher than the interest rates for these currencies for the same maturities in international markets. These deposits are repatriable Nomination Facilities available Eligible for tax concessions Repatriation of maturity proceeds to 3rd party outside India permitted subject to conditions.

Interest Rates For FCNR Deposits (w.e.f. 02-12-2010) PERIOD OF USD GBP EURO AUD CAD JPY

DEPOSIT 1 year to less than 1.79 2.49 2.49 % 6.66 2.89 1.59 2 years 2 years to less % % % % % 1.76 2.37 2.59 % 6.29 2.77 1.40

than 3 years 3 years to less than 4 years 4 years to less than 5 years 5 years

% % % % % 2.04 2.71 2.84 % 6.41 3.02 1.45 % % % % % 2.36 3.04 3.10 % 6.65 3.28 1.52 % % % % % 2.73 3.37 3.33 % 6.76 3.51 1.61 % % % % %

Resident Foreign Currency Account (RFC)

Facility for returning Indians. To maintain outside earnings in convertible foreign exchange. All NRIs who had been resident outside India for a continuous period for 1 year eligible Funds in NRE/FCNR, foreign exchange brought in the form of remittances, travelers

cheques, foreign currency from abroad may be credited into RFC account.

Maintained in US$ in Savings Bank / Current account or Term Deposit of 6/36 months duration Interest payable in US$ - can be drawn in India rupees on conversion Can be held jointly with other eligible residents No cheque book issued for RFC(SB) account/Current Account Pension or other monetary benefits including interest / dividend on assets held abroad can be credited into RFC. Remittance abroad for bonafide purposes can be effected from RFC.

RFC can be converted into NRE or FCNR if the account holder goes abroad again and attains NRI status.

RFC Accounts (in USD) W. e. f. 02-12-2010 RFC Savings Bank account RFC Term Deposits - 6 months to less than 1 year RFC Term Deposits - 1 year to less than 2 years RFC Term Deposits - 2 years to less than 3 years RFC Term Deposits - 3 years only 0.50 % 1.00 % 1.79 % 1.76 % 2.04 %

Loan Facilities provided by State bank of Travancore to NRIs What is a loan?

A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower. In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments; in an annuity, each installment is the same amount. The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants.

Although this article focuses on monetary loans, in practice any material object might be lent. Acting as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding. Banks Base Rate has been fixed as 7.75% per annum with effect from 1st Jul 2010, in tune with the methodology suggested by RBI. All categories of loans and advances [including Bills], sanctioned/renewed on or after 1st Jul 2010, other than those specifically exempted, will be priced with reference to Base Rate. Benchmark Prime Lending Rate (BPLR):13.25 % p.a. (with effect from 01.12.2010)

The maximum spread over PLR will continue to be 4% for all advances other than consumer credit, clean advances, export credit and other exempted categories as per RBI directives. In the case of interest rate for loans with floating rates linked to BPLR/Base Rate, the interest rate is subject to change, with every increase or decrease in BPLR/Base Rate. Such change will be restricted to the extent of increase/decrease in BPLR/Base Rate.

Cash Key facility

The most convenient method of obtaining advance against deposits. Unlimited withdrawals permitted in a Current account upto 90% of the deposit amount and interest accrued. Cheque book facility is available.

Interest charged on these loans will be 1% above the interest rate allowed on the deposit irrespective of the amount, rate of interest and period.

Gold Loans Conventional

Loans against Gold ornaments. Rs.1350 per gram of gold for all types of jewellery (including hall marked jewellery). Amount of Loan - Maximum 10 lacs Period of loan - 6/12 months and can be further renewed Simple easy documentation.

Liquid gold-SBT Gold overdraft

Overdraft facility against pledge of Gold ornaments,

operated as a running account with facility of cheque book.

Rs.1350 per gram of gold for all types of jewellery (including Hall marked jewellery) Amount of Loan - Maximum 10 lacs Loans are granted for 6/12 months and can be further renewed.

Mitra Varsha -Loan against shares & securities

A single over draft limit against the pledge of various types / combination of securities viz. IVP,LIC Policy, SBI Life Policy, Treasury FD, Post Office FD. BY PLEDGE OF MINIMUM LIMIT RS.50000/-


95% of Surrender value Max Rs.20.00 lacs LIC/SBILife Policies Govt Of Kerala Treasury FD/Post Office FD Indira Vikas Patra 70% of deposit + accrued interest. Max Rs.20.00 lacs 75% of purchase value Max Rs.5.00 lacs

Sahaya Varsha
A clean demand loan to meet your short term funds/ financial needs for various purchases/emergent requirements such as marriage, family functions,

travel, education, expensive medical treatment, operation etc. 1. Persons Eligible: i. Salaried employees having net monthly income exceeding Rs.5,000/- and maintaining salary account with us ii. Pensioners drawing pension from our Branch having known sources of regular net monthly income exceeding Rs.2,500/-

2. Amount of Loan: 15 times of the net monthly salary / income, Minimum Rs.10,000/- and Maximum Rs.2,00,000/3. Margin: Nil

4. Repayment: 6 to 60 months in Equated Monthly Installments. 5. Security: Primary - Nil Collateral i.

Equitable Mortgage of property having value not less than 200% of the loan amount. OR

ii. Third party guarantee of two or more persons of sufficient worth acceptable to the Bank OR

a) Check off facility with one personal guarantee for loan amount upto Rs.1 lac.

b) Check off facility with one or two personal guarantee of sufficient worth for loan amount above Rs.1 lac. 6. Processing Charges:

Loans upto Rs.25,000/- = Rs.100/Above Rs.25,000/- = Rs.250/-

7. Papers To Be Submitted To The Bank:


Application form (in duplicate) and two passport size photographs Proof of income


In the case of salaried persons i. Salary Certificate showing deductions. ii. Authorisation to deduct monthly installments from the salary of the employee for credit of the

loan account where check-off facility is available. iii. Standing instruction to transfer monthly instalments from the salary account. Pensioners i. Authorisation to deduct the monthly installments from the Pension account. ii. Proof for the other income. 8. For mortgage of property

Original and prior title deeds. Latest tax receipts Possession Certificate Encumbrance certificate for the last 15 years from the Sub-Registrar.

Valuation report from the banks approved valuator.

Suvidha Loan
Loan against mortgage of immovable property for personal needs such as marriage related expenses, foreign travel, medical expenses etc. 1. Nature of Loan: Term Loan 2. Purpose: Consumer needs General Purpose Loan

3. Eligibility:

Individuals who are : a. employees of Government, Quasi Government, reputed companies/establishments. b. Professionals, self employed and others who are income tax assesses. c. Engaged in agricultural and allied activities. d. Net monthly income of Rs.12,000 for salaried persons or net annual income of Rs.1,50,000 in the case of others. e. The income of the spouse may be added if he/she is a co-borrower. 4. Age Limit: The age of the borrower should not exceed 60 years at the time of sanction. 5. Amount of Loan:

24 times the net monthly income for salaried persons or 2 times the net annual income in case of others. Minimum Rs.50,000 - Maximum 1 Crore 6. Security: Equitable mortgage of non encumbered Residential /Commercial property in the name and possession of the borrower/spouse/close relatives (provided the property holders become guarantors for the relative loan) 7. Margin: 40 % of the market value of the property. 8. Repayment: Equated monthly installments within a maximum period of 120 months with a check off facility in the

case of salaried persons/60 months where check off facility is not available. 9. Processing Fee: 2% of the loan amount. Max Rs. 50,000/10. Insurance: The property being mortgaged should be insured against the risk of fire/riots/ earthquakes/lightning/floods etc. in the joint names of the borrower and the Bank for the full market value of the property. 11. Papers to be submitted:

Application form 2 passport size photographs Copy of the income tax return for last 2 financial years duly acknowledged by ITO.

Latest salary slip showing all deductions. TDS Certificate Form 16 in the case of salaried persons If property offered is an agricultural land converted as non-agricultural, copy of the relative order should be made available. In the case of agriculturist a certificate of income issued by the village officer should be produced. In the case of individuals engaged in trade/industry etc. wherever latest IT returns are not available, the annual income can be assessment based on the IT return for the preceding year and the last balance sheet

12. Documents to be submitted:

Title deeds of the property proposed to be given as security. Prior title deeds. Latest tax receipts (both building and land) Possession Certificate Encumbrance certificate from the sub registrar for the last 15 years. After availment of the loan, encumbrance certificate for 4 months after the date of mortgage is to be produced.

A clean Demand Loan Scheme specially designed for Pensioners 1. Pensioners:

All Central Civil, Defense, Railway, Telecom, KSRTC (Kerala State Road Transport Corporation), KSEB, KWA,Kerala Agricultural University, State and Bank Pensioners whose pension accounts are maintained at our branches. Pension accounts include those accounts to which Bank acts as the Pension Disbursing Officer and those accounts to which pension amounts are received from DPDO. 2. Age limit: Should not exceed 75 years at the time of sanction of loan. 3. Eligibility and Amount of Loan:

Age of pensioner upto 60 years - A maximum of 15 months pension with a ceiling of Rs.1,50,000. Age of pensioner over 60 years upto 65 years A maximum of 12 months pension with a ceiling of Rs.1,25,000. Age of pensioner over 65 years upto 75 years A maximum of 10 months pension with a ceiling of Rs.1,00,000.

4. Guarantee: The spouse/nominee for family pension eligible for family pension should guarantee the loan or any other family member or a third party worth the loan amount. 5. Margin: Nil

6. Repayment:

Age upto 60 years - 54 equal monthly installments Age above 60 years and upto 65 years - 48 equal monthly installments Age above 65 years and upto 70 years - 36 equal monthly installments

7. Security: The nominee to the pension should be a guarantor. 8. Processing charges 0.5% of the limit, Minimum Rs.20/9. Papers to be submitted to the Bank Application form and two passport size photographs.

10. Documents to be executed i. Demand Promissory Note in favour of the spouse/nominee for family pension and endorsed by the latter in favour of the Bank. ii. DP Note Delivery Letter executed jointly by the borrower and the spouse/nominee.

Computer Loan
1. Purpose: For purchase of home computers/PCs and other accessories like Printer/UPS etc. 2. Persons eligible: Salaried and other regular income earners with a minimum of 3 years standing/ experience in their

line of activity and spouses of NRIs, based on the monthly income of NRI. 3. Amount of loan: 15 times of Net Monthly Income (Maximum of Rs.1,00,000) 4. Margin: 20% of the cost of items purchased 5. Disbursement: Amount of the loan will be paid directly to the seller. 6. Repayment period: Maximum 72 months 7. Security:


Hypothecation of computer and the accessories purchased out of Bank Finance.


Collateral: a. For Loans upto Rs.50,000

Wherever check-off facility is available no collateral. Personal guarantee of one or more persons of sufficient worth where check off facility is not available.

b. For Loans above Rs.50,000 Equitable mortgage of property of value not less than the loan amount or any other tangible securities of sufficient value or personal guarantee of one or two persons of sufficient worth.

7. Insurance: Insurance for loans above Rs.25,000 8. Processing charges: LOAN RURAL OTHER

AMOUNTS BRANCHES BRANCHES upto Rs.40/Rs.50/Rs.10,000 above Rs.4 /- per Rs.5/- per Rs.10,000 thousand thousand

9. Papers to be submitted to bank: i. Application form in duplicate with two passport size photographs. ii. Proof of income a. In the case of salaried persons :

Salary Certificate showing deductions. Authorisation to deduct monthly installments from the salary of the employee for credit of the loan account where check off facility available.

b. In the case of business men/self employed/professionals :

Audited accounts and balance sheet for the last three years. Statement of computation of taxable income/Income tax returns filed.

i. A proforma invoice of the items proposed to be purchased. ii. Details of the guarantors wherever applicable.

10. Documentation: i. Hypothecation agreement ii. Guarantee agreement 11. General: i. Check off facility letter (if applicable) ii. Certificate from the borrower on the reverse of the bill confirming the receipt of items in good condition.

Stamped receipt from the seller/supplier.

12. For mortgage of property:

Original and prior title deeds. Latest Tax Receipt Possession Certificate Encumbrance Certificate for last 15 years

Title Clear Certificate from the Banks approved Advocate Valuation Report from the Banks approved valuator.


Interest Rates - P&SB (resident) & NRI Advances linked to SBT Base Rate Base Rate as on 11.10.2010 is 8% NEW LOANS SANCTIONED FROM 01.07.10 LINKED TO SBT BASE RATE 0.25% below 4.25% above Base Gold Loan PLR Rate 0.75% above PLR 5.25% above Base Liquid Gold Rate OD 0.50% above 5.00% above Base PLR Rate NSC Loan DL At PLR 4.50 % above Base Rate Advance 7.50% above Base 3% above PLR against shares Rate 4.50% above Base Akshaya At PLR Rate LOAN SCHEME EXISTING LOANS LINKED TO PLR

Sowbhagya Loan Clean overdraft

Sahaya Varsha

4.50% above Base Rate 8.50% above Base 4% above PLR Rate With check off 6.50% above Base facility/Corporate Rate guarantee/ Equitable mortgage 2% above PLR Other than above 8% above Base Rate - 3.50% above PLR At PLR

Prasanthi/Jai Jawan Scheme/ 4.50% above Base At PLR Prasanthi Elite Rate ( Loan for Pensioners) Computer With check off 6% above Base Rate Loan facility/Corporate

guarantee/ Equitable mortgage 1.50% above PLR Other than above 2%above PLR

6.50%above Base Rate



OD 2% above 6.50% above Base

Education Plus At PLR Subha Yatra Mitra Varsha Nurses Suvidha Purchase of House Site Loans upto Rs.2 lacs in Personal Segment Clean Overdraft Loans upto Rs.2 lacs in Personal 4.5% above PLR 0.50%above PLR At PLR At PLR At PLR

4.50% above Base Rate 5% above Base Rate 4.50% above Base Rate 4.50% above Base Rate 4.50% above Base Rate 8.50% above Base Rate

4% above PLR

9% above Base Rate

Segment Term Loan

NRI Housing Loan

1. Purpose: For construction, purchase/repair/renovation/alteration of a house or for purchase of a plot for the construction of a house for self occupation on return to India. 2. Persons Eligible: a) All Non Resident Indians holding Indian Passports with a regular monthly income of not less than Rs. 10000/b) Spouses and close relatives of Non-Residents, who are residents jointly with the non-resident Indian.

3. Amount of Loan: 60 times the Net Monthly Income (NMI) / Average Monthly Income (AMI) for persons upto 45 years and 48 times for persons above 45 years of age. However, the repayment obligation is restricted to Maximum 60% of the NMI/AMI. 4. Margin:

Upto Rs.30 lacs - 20% Above Rs.30 lacs and upto Rs.3 crore - 25%

5. Interest: Housing Loan Interest Rates w. e. f. 01-07-2010 Revised Floating Rate (%) for new Scheme Period loans sanctioned on or after 01-07-2010 Upto 30 lacs Above 30 lacs

Existing New loans loans sanctioned linked from linked to SBT Base 3.0% below Rate 1.50% above to PLR 01.07.10 Existing loans linked to PLR

New loans sanctioned from 01.07.10 linked to SBT Base Rate 2.25% above Base Rate 2.50% above

Housing Upto 5 Loan years

2.25% below PLR 2% below

PLR Base Rate Above 2.75% 1.75% 5 - 15 below above

years PLR Base Rate PLR Base Rate Above 2.50% 1.75% 2.75% 2% above 15-25 below below above Base Rate years PLR PLR Base Rate 6. Disbursement:

i. Construction of new building.


In three stages, 30%, 40% and 30% of the loan amount. The last installment will be disbursed three or four weeks prior to the completion of the building.

iii. Outright purchase 100% to the seller, after payment of the margin by the applicant. iv. Purchase of plot and construction of the building. v. The loan component for purchase of the plot will be only 30 % of the total project coat. 7. Repayment: 180 months including the repayment holiday of a maximum of 18 months. Repayment will begin on completion of the house or 18 months from the disbursement of the first installment of the loan, whichever is earlier. Repayment can be made either

through remittance from abroad or transfer from NRE/FCNR/NRO A/c or by resident relatives. Rental income if any received should go towards repayment of loan. Repayment can be from local sources after returning to India permanently. Premature closure of loan permitted subject to conditions/penalty

8. Security: Mortgage of property by deposit of title deeds. 9. Processing Charge: Limit upto Rs.25,000/Nil Limits above Rs.25,000 0.55% of the loan amount to Rs. 2 lacs Limits above Rs.2 lacs (Max. Rs.500/-) 0.55% of the loan

amount (Max.Rs.10,000/)

10. Insurance: Insurance is to be arranged for the total cost of the building. 11. Papers to be Submitted to Bank: In addition to the application form (in duplicate) two copies of the passport and two passport size photographs, a declaration-cum-Affidavit in the Bank's approved format, the following papers are to be submitted to the Bank. 11.1 Proof of Income: In the case of salaried persons:

i. Salary certificate issued by the employer and duly attested by an embassy official ii. Average monthly remittance into NRE A/c. in case of others. iii. Authorisation to deduct monthly installments from NRE/NRO A/c. 11.2 Documents to be submitted for construction/improvement of houses: i. A copy of the plan inclusive of site plan approved by the Corporation/Municipality /Development Authority /Panchayat as required. ii. A copy of the building permit issued by the Corporation/ Municipality/ Panchayat as required. In areas where building permit is not required a no Objection Certificate from the authority concerned. iii. Estimate approved by an official not below the

rank of Asst.Engineer(Civil)/ Registered Architect / Chartered Engg. iv. v. vi. vii. viii. ix. Original and prior title deeds Latest tax receipts Possession certificate Encumbrance certificate from the Sub Registrar for the last 15 years. Title clear certificate from Bank's approved advocate Valuation report from the Bank's approved valuator. 11.3 Documents to be submitted for purchase of House/Flats: i. ii. iii. A copy of the agreement for sale A copy of the Title deeds of the present owner A copy of the land tax receipt

iv. v. vi. vii. viii. NOTE:

A copy of the building tax receipt Encumbrance certificate from the Sub Registrar for the last 15 years. Title clear certificate from the Bank's approved advocate. Valuation report of the property and building from the Bank's approved valuator. Estimate approved by an official as above.

After the sale deed is executed, the original deed along with fresh encumbrance certificate and possession certificate should be submitted. For purchase of plot alone all the documents shown in 11.3 except item No. iv is to be submitted. After availing of the loan, encumbrance certificate for four months after the date of mortgage is to be produced.

Availing loan by Power of Attorney Holder: Housing loan can be availed on behalf of NRI by a resident power of Attorney holder. The power of Attorney to be executed in the Bank's format.

NRI Education Loan

Enables your resident son/daughter take up higher education in India in recognized schools and colleges.

SALIENT FEATURES: 1. Purpose: To meet tuition, admission and other fees, maintenance cost, cost of books and equipment for higher studies. Caution deposits and other refundable deposits can also be financed under the scheme. 2. Amount of Loan:

For studies in India:Rs.10 lakhs For studies abroad :Rs.20 lakhs

3. Persons Eligible: a) Indian National b) students who have passed the entrance test and have secured admission for technical/professional courses. 3. Eligible Courses:

a) All technical /professional courses including certificate courses, diplomas; graduate/ Post graduate and/ or doctorate degree studies in recognised schools / colleges / Institutions. (Courses in Medicine, Surgery, Dental Science, Architecture, Veterinary Science, Agri Sciences and in various branches of Engineering, Technology, Computer Science, Industrial Management, Business Administration and other Management Sciences) b) Computer Courses which are conducted by institutes given due accreditation by the Department of electronics, Govt of India. c) Any other specialised course in Computer Science. 4. Borrower: Student and Parent or Guardian jointly. This means if an NRI wishes to educate

his/her nephew /niece any other such relative the student and the supporting NRI as guardian may avail the loan jointly. 5. Margin:

Upto Rs.4 lakhs: Nil Above Rs.4 lakhs :(i) Studies in India:5% (ii) Studies in Abroad:15%

6. Interest: Educational Loans (Gyan Jyothi) with effect from 01-07-2009 Loan Amount Existing loans New linked to PLR loans

sanctioned from 01.07.10 linked to Base Rate

1. Upto Rs.4 0.75% lacs PLR 2. Above Rs.4 At PLR lacs

below 3.75%


Base Rate 4.50% above Base Rate

* 0.5 % concession for Girl student 7. Repayment: 12 months after completion of course or 6 months after getting job whichever is earlier. To be repayed in 60 monthly installments.

8. Security: Collateral security equal to Loan amount plus interest payable up to one year after completion of course. When the loan amount exceeds Rs 4 lakhs, such Collateral security may be any one or more of: Govt Securities, UNITS of UTI, Surrender value of a LIC policy,

National Savings Certificates, KVPs, IVPs, Bank Deposit Receipts after effecting necessary lien /assignment in favour of our bank and / or mortgage of immovable properties or other tangible assets acceptable to the bank. 9. Processing Fee: Nil 10. Application: Application is available at all our branches and should be submitted to one of them. 11. Documents to be submitted: a) Application (Student and Parent or Guardian jointly) b) Two Copies of Passport Size Photos. c) Testimonials in original from head of institution and from one or two other respectable persons not related to the student.

d) Proof of Admission to Course. e) Schedule of Expenses for the course. f) Copy of Salary certificate / statement (other proof) of Income of parent / Guardian g) Copy of Passport of parent / guardian and student (if applicable) 12. For mortgage of property:

Original and prior title deeds Possession certificate Encumbrance certificate for the last 15 years from the Sub Registrar. Title clear certificate from the banks approved advocate Valuation report from the banks approved valuator. Latest tax receipts.

NRI Car Loan

1. Purpose: To finance purchase of new Cars or Jeeps 2. Persons Eligible: NRIs or spouse of NRIs who have regular Net Monthly Income (NMI) of not less than Rs 10000. 3. Loan amount: Up to 30 times the NMI for Cars and Jeeps (The Net Monthly Income of spouse (resident or nonresident) can also be included provided the spouse would also guarantee the loan. In the case of resident employed person, he/she should have permanent employment or be a self employed professional of good standing .) Max

30 lacs. 4. Security: a) The vehicle should be hypothecated to the bank and the lien noted in the registration certificate book. b) Guarantee of spouse where her / his income is also taken into account for NMI and Loan amount. c) Equitable mortgage of property or third party guarantee of two persons each worth the loan amount. 5. Margin: a) 15 % of the cost of the vehicle b) Second hand car upto 2years old 25% of the cost c) Second hand car above 2 years upto 5 years old 40% of the cost.

6. Interest: Interest Rates on Car Loans linked to SBT Base Rate With effect from 11-10-2010 New to PLR New loans 01.07.10 linked to

Cars Existing loans linked sanctioned from SBT Base Rate Upto 3 years 1.25% 3.25% above Base below PLR Above 3 years & upto 5 years - 1.25% below PLR Above 5 years & upto 7 years - 1% Rate 3.25% above Base Rate 3.50% above Base Rate

below PLR Upto 3 years 2.25% 6.75% above Base Used Cars above PLR Above 3 years & above PLR 7. Repayment: In 84 Equated Monthly Installments [EMI] 8. Insurance: Comprehensive insurance is compulsory for all vehicle loans at your cost with suitable bank clause. 9. Processing Charges: 0.50% of the loan amount subject to a minimum of Rs.500/- and maximum of Rs.10000/Rate

upto 5 years - 2.50% 7% above Base Rate

10. Papers to be submitted: a) Invoice in duplicate from dealer b) Application in duplicate c) Two passport size photographs d) Salary certificate of employed persons OR evidence of average remittance into bank (NRE) account for past 12 months e) Details of guarantors and property to be mortgaged, if any.

Two Wheeler Loan

1. Persons Eligible: Salaried employees/pensioners, who are maintaining salary/pension accounts with us where recovery of instalment at source is possible

2. Amount of Loan: Maximum Rs. 50,000 paid directly to the seller 3. Repayment: 72 equated monthly installments 4. Security:

Hypothecation of the vehicle purchased out of bank finance. Personal guarantee of one person of sufficient worth

5. Interest: Interest Rates on Two Wheeler Loans With effect from 01-11-2010 TWO WHEELER LOANS 2.25% above PLR 6.75% above Base Rate

NRI Suvidha Loan-All purpose mortgage loan

If your money is blocked in landed assets and you need funds for urgent/important needs like sister's marriage, medical treatment, purchase of land or setup business for your ward etc., we offer a new facility to NRIs. 1. Scheme: Loan against mortgage of immovable properties (land and or building) other than agricultural property or

plantation or farm house, held by NRIs / Persons of Indian origin. 2. Eligibility: Non Resident Indians or persons of Indian origin and their close relatives. 3. Purpose: All personal and own business purposes or a combination of both, other than those specifically prohibited by Reserve Bank of India. 4. Disbursement: As required by the applicant. The proceeds cannot be credited to NRE/NRNR/FCNR accounts. It can be credited to NRO account. Loan amount will not be remitted outside India.

5. Loan Amount: Minimum Rs. 50,000/- Maximum Rs. 100 lacs subject to not exceeding 24 months Net monthly Income or 1.5 times Net annual Income. 6. Income level: Minimum NMI Rs. 12,000/- or Minimum NAI Rs. 1,50,000/7. Proof of Income: Salary certificate for salaried class; certified auditors certificate in case of self employed; In the absence of either Average monthly remittance in the last 12 months into own NRE account or to that of spouse.