The minimum loan amount is Rs. 5 lakhs and the maximum loan amount goes upto Rs.100 crores. With business loans, interest rates depend on the amount. Higher loan amounts attract a lower interest rate and vice-versa. Loan tenure is 1 year to 4 years. Interest rate currently is up to ...
The RBI has prohibited banks from charging interest for failing to maintain the minimum balance in any account that has been declared inoperative. Additionally, RBI has made it illegal for banks to charge penalties for activation of inoperative accounts. The new guidelines mandate that banks notify ...
Things the SBI EMI calculator takes into account. Loan Amount:If you apply for a higher loan amount, then the EMI will also be high. You can apply for an amount between Rs. 15 lakhs and Rs. 10 crores. Loan Tenure:The loan tenure approved will depend on your repayment capacity, age, ...
Depending on the business sector and the borrower's ability to repay the loan, Indian banks typically provision for loans at a minimum of 5% and a maximum of 20%. As per the Basel-III norms, provisioning requirement is 100% in the case of non-performing assets. Topic: Reports and Indic...
Minimum balance need not to be maintained in the accounts opened underPradhan Mantri Jan Dhan Yojnaand for Basic Savings Bank Deposit Account. For these accounts, no limit is fixed on number and value of deposits that can be made in a month. ...
PM Jan Dhan Yojana is a National mission for Financial inclusion. It was announced on 15 August 2014. Under the scheme, one basic savings bank account is opened for unbanked person for which he/she does not have to maintain any minimum balance. Accident Insurance Cover is also provided to ...