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AAYUSH EDE Assignment 6

The document outlines loan application forms for State Bank of India (SBI) and Punjab National Bank (PNB), detailing types of loans offered, eligibility criteria, interest rates, processing fees, and submission processes. Both banks provide various loans such as personal, home, education, and vehicle loans, with specific requirements for age, income, and credit scores. The submission process includes downloading forms, attaching necessary documents, and tracking application status online.

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AAYUSH TIKONE
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18 views23 pages

AAYUSH EDE Assignment 6

The document outlines loan application forms for State Bank of India (SBI) and Punjab National Bank (PNB), detailing types of loans offered, eligibility criteria, interest rates, processing fees, and submission processes. Both banks provide various loans such as personal, home, education, and vehicle loans, with specific requirements for age, income, and credit scores. The submission process includes downloading forms, attaching necessary documents, and tracking application status online.

Uploaded by

AAYUSH TIKONE
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Assignment 6

Aim : Collect loan application forms of nationalized banks/other financial


institutions

State Bank of India (SBI) – Loan Application Form

Types of Loans Offered:

● Personal Loan: For personal needs like travel, medical expenses, or weddings.
● Home Loan: For buying, constructing, or renovating a house.
● Education Loan: For higher studies in India or abroad.
● Car Loan: For purchasing new or used vehicles.
● Business Loan: For entrepreneurs or SMEs.

Eligibility Criteria:

● Minimum age: 21 years


● Maximum age: 60 years (65 for self-employed)
● Salaried individuals, self-employed, pensioners, and NRIs are eligible.
● Minimum monthly income: ₹15,000 (varies by loan type)
● Good credit history (CIBIL score > 750 preferred)
Interest Rates (Approximate):

● Personal Loan: 10.30% – 15.65% p.a.


● Home Loan: 8.40% – 9.75% p.a.
● Car Loan: 8.70% – 9.20% p.a.

Processing Fees:

● Personal Loan: 1.5% of the loan amount (minimum ₹1,000)


● Home Loan: 0.35% of the loan amount (minimum ₹2,000)
● Car Loan: 0.50% of the loan amount (minimum ₹1,000)

Loan Repayment:

● Tenure ranges from 1 to 30 years, depending on the loan type.


● Flexible repayment options through EMIs, post-dated cheques, or ECS.

Additional Features:

● Prepayment allowed without penalty for floating-rate loans.


● Special concessions for women and government employees.
● Online application tracking through SBI’s YONO app.

Submission Process:

● Download the form from SBI’s official website or collect it from a branch.
● Fill out the form with accurate details.
● Attach documents like ID proof, address proof, income proof, and photographs.
● Submit the form physically at the branch or upload it online.
● Track the application status online using a reference number.
Notes:

● Loan approval is subject to creditworthiness and income stability.


● Applicants with a CIBIL score above 750 have higher chances of approval.
● Special interest rates for women and government employees.
● Online applications get faster processing compared to in-branch applications.
● Incomplete forms or missing documents lead to rejection or delay in processing.

Rules:

● Eligibility: Age, income, and credit score must meet the bank’s requirements.
● Documentation: Must provide original documents during the application
process.
● Collateral: Security/collateral is required for loans above a certain threshold.
● Co-applicant: Mandatory for education loans and optional for personal loans.
● Repayment: No penalty for prepayment on floating interest rate loans.
● Processing Time: Loan disbursement within 7–10 days after approval.
● Verification: Physical verification of the applicant’s residence and workplace is
mandatory.
Loan Application Form of SBI:
Punjab National Bank (PNB) – Loan Application Form

Types of Loans Offered:

● Personal Loan: For personal expenses like weddings, education, or


travel.
● Housing Loan: For buying, constructing, or renovating a house.
● Education Loan: For higher studies in India and abroad.
● Vehicle Loan: For purchasing new or used vehicles.
● MSME Loan: For business expansion and working capital needs.

Eligibility Criteria:

● Minimum age: 21 years


● Maximum age: 65 years (at loan maturity)
● Salaried employees, self-employed individuals, and pensioners are
eligible.
● Minimum monthly income: ₹20,000 for urban areas, ₹15,000 for rural
areas.
● Credit score: Minimum 700 preferred.
Interest Rates (Approximate):

● Personal Loan: 10.50% – 14.00% p.a.


● Housing Loan: 8.25% – 9.75% p.a.
● Education Loan: 9.25% – 10.75% p.a.

Processing Fees:

● Personal Loan: 1% of the loan amount (minimum ₹1,000)


● Housing Loan: 0.25% of the loan amount (minimum ₹2,500)
● Vehicle Loan: 0.50% of the loan amount (minimum ₹1,500)

Loan Repayment:

● Tenure ranges from 1 to 30 years, depending on the loan type.


● EMI payments through auto-debit, standing instructions, or post-
dated cheques.

Additional Features:

● Special schemes for government employees, doctors, and women.


● No prepayment penalty on floating-rate loans.
● Online loan eligibility calculator.

Submission Process:

1. Download the form from PNB’s official website or visit a branch.


2. Fill out the form, ensuring accurate information in personal,
employment, and financial sections.
3. Attach required documents: ID proof, address proof, income proof, and
photographs.
4. Submit the form at the branch.
5. Track application status through the branch of PNB's online portal.
Notes:

● Loans are granted based on the applicant’s repayment capacity and


creditworthiness.
● Pensioners can apply for personal loans with their pension as income
proof.
● Special schemes are available for government employees and defense
personnel.
● Interest rates may vary based on the applicant’s relationship with the
bank (existing account holders get benefits).
● Submission of false documents will result in immediate disqualification
and legal action.

Rules:

1. Eligibility: Age, income, and credit score must meet the bank’s
requirements.
2. Documentation: Must provide original documents during the
application process.
3. Collateral: Security/collateral is required for loans above a certain
threshold.
4. Co-applicant: Mandatory for education loans and optional for personal
loans.
5. Repayment: No penalty for prepayment on floating interest rate loans.
6. Processing Time: Loan disbursement within 7–10 days after
approval.
7. Verification: Physical verification of the applicant’s residence and
workplace is mandatory.

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