Smartphone Finance

• Purchase of Mobile Phones.

• Permanent Employees/Pensioners of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies drawing salary through our Bank and where letter of undertaking from employer is available.
• Customers already availing seasoned credit facilities (aged more than 2 years) where in there have been no past dues of more than one month during the currency of the loan.

• Minimum: 21 years.
• Maximum age of Applicant at loan maturity: For employees Date of retirement or 60 Years whichever is earlier.
• For others: 65 years.

• Minimum Finance: 10,000.
• Maximum Finance: 75,000 or 12 months net income for purchasing upto three Smartphones or 90% of the invoice value of the Smartphone(s) whichever is lower.
• Maximum finance (in case of individual small businessmen who do not file their tax returns and do not maintain the financial statements) is 10% of the credits in the operative account of the borrower during the last 12 months or 90% of the invoice value of the Smartphone(s), whichever is lower.
• For Govt. employees gross deductions should not exceed 60% of gross salary while as for others deductions should not exceed 50% of gross income.

• 10% of the invoice value

• Primary: NIL
• Collateral: NIL

• 350/- plus applicable GST

• 30 Equated Monthly Installments.

• NIL

• 1 Year MCLR + 3% (fixed)

Click here for rate of Interest

• Term loan.