PERSONAL LOAN
USP:
Nil Foreclosure and Nil Part-payment Charges
NTC customers are allowed for funding.
No multiplier calculation – eligibility based on FOIR.
Government employees can be funded with maximum age of 63 years at time of maturity.
Multiple Part-payment without any capping or charges
Lock-IN period for 1 Months Only.
Loans to Professionals.
General Parameters
Segment Salaried Individual
Min Max
12/25 lakhs (Open
Ticket Size Market/Elite & Cat
1 lakh A Com)
Loan Maturity Age
60/63 years
Age
Private/Govt
21 years Employee)
60/72 months (Open
Market/Elite & Cat
Tenure 12 months A Com)
Employment Stability 6 months in the current organization.
Residence Stability 6 months for rented & company provided.
Income Norm
Parameter Metro Other Locations
Net Take Home (NTH) Rs. 27500 p.m. Rs. 22000 p.m.
Arrear, OT will not consider as part of NTH salary calculation. Regular incentive/Fix Bonus
will be calculating 50% as additional income. But NTH need to as per salary norms without
Incentive/Bonus.
FOIR
Loan eligibility calculation :-
Internal
A. Maximum
FOIR on Net
B. Maximum loan amount cap (in ₹ lakhs)
Ventile Monthly
band Income (in ₹)
Govt. with NMI >= Govt. with NMI <
<35K >=35K Elite/CAT A Others
INR 60K INR 60K
NTC 50% 50% 5 5 5 5
V5 50% 55% 5 5 5 5
V6-V8 55% 60% 9 6 6 6
V9-V11 65% 70% 15 8 8 8
V12-14 65% 70% 20* 12 10 10
V15-V20 65% 70% 25* 15 12 15**
*For ticket size => INR 20 lakhs, income norms should be as per defined minimum income in the note
**For others segment in above grid, max ticket size up to INR 15 lakhs allowed only if below mentioned
condition is satisfied, else max ticket size shall be restricted up to INR 12 lakhs: -
a) Live PL >= INR 5 lakhs with at least 6 months vintage
Note - Applicant having live/closed home loan or active credit card with vintage >=5 years on bureau or TU
segment 1,2,3 (for non-government profile) and TU segment 1 & 2 (for government profile) will be allowed for
5% extra FOIR as per the defined loan eligibility norms applicable only for ventile V15-V20
Additionally, for Elite :
Applicant having net monthly income >= INR 35K and CIBIL score >=725 will be allowed for 5% extra FOIR
for all approved ventile score as defined in the program
For First time borrower norms: Applicants with no loan history at bureau FOIR will be restricted to 50%
However, can offer a higher FOIR with exception as per deviation matrix
If 6 or less than 6 EMI left in any running loan, the same will not consider in obligations.
Documentary proof require at time of login.
Interest Rate
Interest Rate is risk based and will be system generated while processing the file.
Parameter Min Max
Interest Rate 12.99 % 25.49 %
Processing Fee
New PF Grid
Loan Amount PF*
From 1 Lacs to Rs. 2.99 Lacs 2.50%
From 3 Lacs to Rs. 7.49 Lacs 2.25%
From 7.5 Lacs to Rs. 9.99 Lacs 2.00%
From 10 Lacs to Rs. 14.99 Lacs 1.75%
Rs. 15 Lacs & Above 1.50%
*: % is exclusion of GST; 18% GST applicable over the above mentioned rate
Loan Amount = Sanction Amount + Funded Insurance
Documentation
Internal
A. PAN Card
KYC Documents (any one):
1. Passport
2. Aadhaar Card / Proof of possession of Aadhaar issued by UIDAI / E-Aadhaar
3. Voters Identity Card
4. Driving License
Acceptable Deemed OVD (any one):
1. Utility Bill (electricity bill, telephone bill, post – paid mobile phone bill, piped gas bill, water
bill) not more than 2 months old.
2. Property or Municipal Tax Receipt
3. Pension or family pension payment order issued by Government or PSUs
4. Letter of allotment of accommodation
5. Registered Leave and Lease Agreement, rent agreement should be 3 Months old. Landlord
latest E-bill required with Rent agreement.
B. Last 3 Months Payslip
C. AA/ Last 3 Months Bank statement (Till date updated) original PDF for Perfios run.
Reference
2 reference details are required along with the contact details and address.
1 reference – Professional, 1 reference – Relative/Friend.
Key Points:-
3 Loans/OD (Tata, Baja & Chola) allowed, FC letter required of login date.
P.F./TDS Deduction is mandatory is all customer’s pay slip in all type of companies (Ltd., Pvt. Ltd.,
Partnership/proprietorship, Govt.)
Permanent Address proof required if customer is residing on Rent at current address.
Current Address proof will be accepted in name of customer only. Spouse or parents name current
address proof is not acceptable.
Permanent address proof can be taken in name of Self, Spouse or Parents only, not any other
relative.
Drivers, Security guard, Commission Agents, contractual employee, Sweepers are negative
profiles.
Customer’s working company should be min. 2 years old established. Min 30 Employees required
on EPFO.
Closed Loans, paid credit card clearance proof and 6 Mob loans documents needs to provide at
time of login for correct obligation calculation.
Case process with OKYC, AA/Perfios Banking, Auto fetched form 26 AS/ PF statement submission,
Official E-mail ID mandatory.
If there are 7 enquiries in last 14 days, case cannot be processed.
Internal
Multi-Funding cases not allowed.
Grade 4 will process as per Grade 4 registered list.
Partnership/Proprietorship firm
1. Maximum Loan - Rs. 5 lakhs.
2. Minimum salary of Rs. 30000 in Metro and Rs. 24000 for Others.
3. 6 months bank credit salary.
4. Max FOIR 60%
5. Residence to be owned/parental. (OHP mandatory)
6. CIBIL 0, -1 not allowed.
7. If Salary is 50K+ and Ventile is V11+ then rented profile allowed with PA address proof.
Grade 4 Employees
1. Maximum Loan – Rs. 5 lakhs
2. Residence to be owned/parental or company provided.
3. Non-office staff not to be funded.
4. OHP proof required
Internal
