Eligibility :

  • Any salaried person except employee of Private/Partnership concern with certain terms and conditions

Purpose :

  • For Higher Education
  • For Marriage of Dependent Son, Daughter & Sister.
  • For Specialized Medical treatment.
  • To purchase of Consumer’s Durable Product.
  • For any purpose other than speculation

Eligible Borrowers :

  • Teaching and Non-Teaching staff of Primary/Secondary/Higher Secondary /Madrasah Schools/Colleges/Universities, employees of Co-operative Banks, making profit at least for the last 3 years, Local Self Government Bodies/ Authorities/Employee etc.
  • Permanent or Contractual or Temporary Employees of central/state Government/autonomous bodies/public/joint sector undertakings, public limited companies/MNCs with minimum continuous service for 1 year.
  • Remunerated person of MSK/SSK/ Shiksha Bandhu/Paschimbanga Sarva Shiksha Mission State/District/DI approved contractual teacher/para-teacher/part-time teacher of college etc. and residing or servicing along with office of DDO/Employer of the applicant within the area operation of the Bank may apply with some terms and conditions.
  • Staff of ICDS.
  • Data Entry Operators (DEOS), Bangla Sahayata Kendra (BSKS) and Ayush (Homeopathy) employees

Maximum amount of Loan :

Maximum quantum of loan shall be the lowest of the followings-

  • Rs 7.00 Lakh as personal Loan and there after Rs 8.00 Lakh as RCCB Smart Loan for permanent employees.
  • 24 times of GMI subject to maximum 3 Lakh for others.

Special Condition:

  • Salary account of employees other than permanent employees should be with RCCB.

Collateral:

  • Nil for Salary earners having Salary account with RCCB
  • 10% for salary earners having salary account with other banks
  • Guarantee bond to be executed with two Salary earners of our bank for loans to Salary earners of other banks.
  • Signature of DDO is preferable for loans to Salary earners of other banks

Repayment Period:

  • Maximum period would be 7 years in case of personal loans with some terms and conditions.
  • Maximum period would be 6 years in case of RCCB Smart Loans with some terms and conditions.

Rate of Interest:

  • As decided by the bank for time to time in a fixed nature