Raj Banking and Insurance

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INTRODUCTION OF J & K BANK The Jammu and Kashmir Bank came into existence on October 1, 1938 and started its operations from 4th July, 1939. In fact, this is India's first state owned bank. According to the Indian Companies Act of 1956, the bank was recognized as a government bank. Later in the year 1971, the bank was given the stature of a scheduled bank. Presently, the bank has exceeded 500 branches across different locations of India. More to add, the Jammu and Kashmir Bank has become an organization which has amassed some billion dollars. Jammu and Kashmir Bank is overseen by the Reserve Bank of India and SEBI. Apart from this, the bank is also a member of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). In fact, the government of the J&K owns 53% of the bank which includes a same percentage of equity. In the year 1976, the RBI nominated the bank as an 'A' class bank. MISSION OF THE BANK The company’s mission is two-fold: To provide the people of J&K international quality financial service and solutions and to be a super-specialist bank in the rest of the country. The two together will make it the most profitable bank in the country. VISION OF THE BANK The Bank's vision is “To catalyze economic transformation and capitalize on growth”. The bank aspires to make Jammu and Kashmir the most prosperous state in the country, by helping create a new financial architecture for the J&K economy, at the centre of which will be the J&K Bank. The Bank is committed to achieve healthy growth in profitability and simultaneously to remain consistent with the Bank's risk appetite and at the same time ensuring the highest levels of ethical standards, professional integrity and regulatory compliance. PRODUCTS OFFORED BY J&K BANK

Purpose: - To meet all kinds of personal needs e.g. marriage, family functions etc Eligibility: - Permanent employees of State, Central governments, autonomous bodies, corporate, public& private sector undertakings having minimum of 3 years confirmed service. Loan amount: - 30 months gross salary or Rs. 7 lacks whichever is less Documents required:1. Passport size photograph, 2. Latest salary slip and Form 16(for salaried individuals) 3. For Self-employed individuals and Professionals 4. IT returns for the last two financial years, 5. Proof of Professional Qualification: Copy of highest professional degree held 6. Proof of official address (shop and establishment certificate/Telephone bill)

Margin & Security:-Nil Interest rates:1. Salaried employees of State/Central government - 15.50% 2. Professionals and businessmen - 16.50% Repayment period: - 84 monthly instalments or remaining period of service whichever is less.

Purpose: - To provide loan for construction, renovation, purchase of readymade house, purchase of land. Eligibility:1. Employees of Govt., Semi-Govt. Dept., Civic Bodies, PSU's with minimum 5 years Service. 2. Reputed Businessmen with minimum 5 years standing. 3. Professionals & Self employed like Doctors, Engineers, CA’s, Advocates with minimum 5 years standing Loan amount:1. For Construction /Purchase 60 months net salary or 75.00 Lacks whichever is lower. 2. For repairs/renovation 20 months net salary, subject to a maximum of Rs.10.00 Lacks 3. For purchase of land: 20 months net salary/income subject to maximum of Rs.5 Lacks within J&K and Rs10.00 Lacks outside J&K. Documents required:1. Passport size photograph. 2. Proof of residence. 3. Bank account Statement or passbook, for the last six months 4. For employees or people in service, you also need to provide. 5. Salary certificate and other information, if any, about your repayment capacity. 6. Form 16 or a copy of the Income Tax Returns for the last 2 years 7. For self employed and other IT assesses. 8. Any other information about your repayment capacity. 9. In addition to the above mandatory documents, you are also required to furnish one or more of the following documents wherever applicable. 10. Letter of allotment from the housing board or society. Security:1. Primary: Mortgage of the house Property to be purchased / constructed. 2. Collateral: Third party Guarantee of one person, or assignment of LIC Policies, pledge of Govt. securities etc. Margin:1. 15% for construction/purchase of building house flat. 2. 20% for renovation/purchase of land.

Interest rates:Repayment period Floating interest Up to Rs.20 lacs Up to 5 yrs 10.75% Rate of Fixed Rate of interest Ab ove Rs.20

Ab ove Rs.20

Up to Rs.20 lacs 11.50% 12.50% xxx xxx

lacs 12.75% 13.50% 13.75% 14.25%

Lacs 13.75% 14.50% Xxx Xxx

Above5 up to 11.25% 10 Above 10 up 12.75% to 15 yrs Above 15 up 12.50% to 20 yrs

Repayment:1. For construction of new house 20 years including 9 months moratorium in equal monthly instalments. 2. For addition / Renovation 7 years including 2 months moratorium in equal monthly Instalments

Purpose:- Finance under this scheme shall be available to purchase new car (any make or model) Eligibility:1. Employees of Government / Semi Government, Civic Bodies, PSU's / Individual / Proprietorship Concerns / Firms / Limited Companies known to the Bank. 2. Net annual income should not be less than Rs.60, 000 per annum. The applicant (individuals) should have a valid driving license in his/her own name. 3. The employees of the State Govt/Semi Govt. Departments/Other Organizations should have a minimum of 5 years active service in the organization/department. Quantum of loan: - 24 months net monthly income/salary subject to maximum finance of Rs 10.00 lacs. Documents:-

1. Application form 2. Photograph 3. Proof of bank account continuity 4. One income proof for the last two years (ITR, Form 16, salary slip) 5. One proof of identity (driving license / voters' identity card / passport / PAN card / Photo credit card / photo ration card) 6. One proof of residence (laminated driving license / voters' identity card / photo ration card / passport /utility bills for the last 3 months / company ID - limited Company or government / PAN card) Security:1. Primary: Hypothecation of vehicle Financed. 2. Collateral: Third party guarantee of one person. However, no Third Party Guarantee is required in respect of government employees drawing salary through the bank and maintaining account with us or where drawing and disbursing authorities undertake deduction of required monthly instalments from their salaries. In respect of others like professionals, businessmen etc. guarantee of one person good for the amount is obtained along with an affidavit to the effect that the prospective borrower is not defaulter with any bank/ branch of the bank. Interest rates:1. Up to Rs.4.00 lacs 12.50% 2. Above Rs.4.00 lacs 13.50% Repayment: - Within 7years

Purpose: - To provide finance for education Loan amount:1. Loan up toRs.7.50 Lacs is provided for studies in India. 2. Loan up to Rs.15.00 Lacs is provided for studies abroad. Courses Financed:1. Graduate / P.G Courses in: Medicine, Surgery, Engineering, Hotel Management, Design, Architecture, Bio-chemistry, Agriculture, Veterinary etc. 2. P.G Courses in: Business Management, Chartered or Cost Accounting, Company Secretary Ship. Eligibility:1. Student should be an Indian national; the student should have passed the qualifying examination for admission to the courses& should have secured admission to Professional/technical courses. 2. Employed person intending to ,improve their educational qualification and/or receive training in modern technology in India or abroad can also be assisted under this scheme provided training offers prospects of better placement. Documents required:1. Completed Education Loan Application Form.

2. Mark sheets of last qualifying examination 3. Proof of admission scholarship, studentship etc 4. Schedule of expenses for the specified course 5.2 passport size photographs 6. Borrower’s Bank account statement for the last six months 7. Income tax assessment order, of last 2 year 8. Proof of Income (i.e. Salary slips/ Form 16 etc) Margin:1. For loans up to Rs. 4 lacs – nil 2. For loans above Rs. 4 lacs Studies in India - 5% Studies abroad - 15% Security:1. Primary: Personal guarantee of borrower. 2. Collateral: security equal to amount of loan. Repayment:-Course period + 1 year or 6 months after getting job, whichever is earlier. The loan is to berepaid in 5 to 7 years after commencement of repayment. If the student is not able tocomplete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum of two years. OVERDRAFT
Features & Benefits Convenience:- Operate from one primary account - No need to open a separate account. Hassle-free Documentation:- No periodic submission of stock statement or FDR required. Control On Interest:- Pay interest only on the amount that you use. Easily Available Funds:- In case of an unforeseen business expenditure, you can keep your investments and FDs untouched, thanks to the easy fund access. Exclusivity:- It offers you competitive features and benefits in the current market scenario. Who Can Apply 1. A Current Account with KMBL or with any other bank which is atleast 6 months old, and is the main operative account. 2. Your business must be running for at least the last 3 years. 3. Customers having a KMBL - PL are not eligible. 4. Minimum required AQB is Rs. 25,000 for Credit Access.

Documentation 1. KYC documents to establish identity, DOB and address. 2. Last 6 months' current account statement. 3. Avail the Kotak Mahindra Bank Overdraft Services and explore limitless business possibilities today!

Features & Benefits:-

1. Avail Loan upto Rs.10,00,000 & upto 90% of value. 2. Safety & Security of your Gold Jewellery 3. ATL - Anytime Liquidity 4. No EMI, Service only Interest and enjoy the Loan facility 5. Lower Interest Rates - Your savings can be Invested in several Investment Avenues 6. If you are Bank customer, we have special rates for you !!! Eligibility & Documentation:You may be a salaried individual, professional or a businessman, we have loan designed to suit your requirement Eligibility Criteria:1.Maximum age of Applicant at loan application should not be more than 65 years 2.Gold Jewelry should be owned by you or any of the family member Fees & Charges for Gold Loan:Description of Charges Loan Processing Charges Valuation Fee No Due Certificate / No Objection Certificate (NOC) Duplicate no due certificate / NOC Solvency Certificate Charges for late payment of loan amount Charges for changing from fixed to floating rate of interest Charges for changing from floating to fixed rate of interest Gold Loan Upto 0.50% of loan amount Nil Nil Not Applicable Not Applicable 2% p.a. as penal interest over and above applicable rate of interest. Not Applicable Not Applicable

Stamp Duty & other statutory charges Credit assessment charges Non standard repayment charges Outstation clearing charges Cheque swapping charges Loan cancellation / re-booking charges Bounce Cheque Charges Statement Charges (per statement) Duplicate Repayment Schedule charges Legal, Repossession & Incidental charges Renewal Processing Fees DEBIT AND CREDIT CARD

As per applicable laws of the state. Nil Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable As incurred by the Bank. Rs 500/-

Global Access Card Salient Features 1. Pin Based -Maestro / Cirrus Debit Card 2. Provides online access to savings or current account. 3. Accepted at all Domestic as Well as International MasterCard™, Maestro™,Cirrus™ Enabled ATM's and Point Of Sale locations. 4. Accepted at National Financial Switch (NFS) ATM's. 5. No Transaction Fee at JK Bank ATM's 6. No Transaction Fee on purchases Empowerment Credit Cards Customer Benefits 1. 20-50 day Credit Free Period 2. Revolving Credit Facility on paying of minimum payment due in the same billing period. 3. Hassle free credit facility at competitive rate of interest. 4. Cash Withdrawal Facility upto 20% of total credit limit. 5. Loyalty programmer

Types of Cards
• • •

Blue Empowerment Card Silver Empowerment Card Gold Empowerment Car


Annual Income 80,000.00 1,50,000.00

1. For Salaried -Above

2. For Self Employed -Above Documentation
• • •

Income Proof Address Proof Identity Proof

Credit Limits
• • •

Blue Empowerment Card- Upto 25,000.00 Silver Empowerment Card-Upto 50,000.00 Gold Empowerment Card-Upto 1,00,000.00

Rate of Interest :- 2.25% per month Annual Fee:300

Renewal Fee:- 250 Add-on Card Fee:- 150 Fuel Surcharge:-Wavied Off Late Fee:100

UNION BANK OF INDIA About Union Bank of India Union Bank of India had started with a vision to turn into "the bank of first choice in our chosen area by building beneficial and lasting relationship with customers through a process of continuous improvement". Also referred to as UBI, because of which many confuse it with United Bank of India, the Union Bank of India has evolved into one of the largest state-owned banks in India. MISSION OF THE BANK To provide superior, proactive banking services to niche markets globally, while providing cost-effective, responsive services to others in our role as a development bank, and in so doing, meet the requirements of our stakeholders. VISION OF THE BANK To become the Bank of first choice in our chosen areas by building beneficial and lasting relationship with customers through the process of Continuous improvement and to become the bank of choice for corporate, medium businesses and upmarket retail customers and to provide cost effective developmental banking for small business, mass market and rural markets"

PERSONAL LOAN Salaried Loan Scheme:Loan Type:Loan Amount:UNION COMFORT Term Loan max. loan amount : 6 months net salary not exceeding Rs. 1 lac for salaried class. Min. - 12 months. Max. - 36 months. Min. - 17.5 % Max. - 17.5 % Self Employed UNION COMFORT Term Loan Max. loan amount : 50% of annual income as per last 2 IT returns (not exceeding Rs.1 lac.) Min. - 12 months. Max. - 36 months. Min. - 17.5 % Max. - 17.5 %

Tenure:Interest Rate:-

Time to Process Loan:Fees & charges:Processing Fee:HOME LOANS Interest Rate Loan :-Amount:0%

7 days Salaried 0.5 %

7 days Self Employed 0.5 %

20% For purchase or construction. For repairs, 20% of total cost of repair. For purchase of plot, 20% of the value of the plot. Life cover for the entire period of the home loan equivalent to the outstanding loan amount

Tenure:Interest Rates:Tenure 1 - 5 Yrs. 15 - 25 Yrs. 10 - 15 Yrs. 5 - 10 Yrs. 1 - 5 Yrs.

Min. - 5 Yrs. Max. - 20 Yrs. Interest Type Fixed Floating Floating Floating Floating Interest Rate 12 % 11.25 % 11 % 11 % 10.75 % 0.5 % 100 Rs mortgage of house property Offer

Fees & charges :Processing Fee:Cheque Bouncing Charges:Security:-

VECHICLES LOANS New Car Loan Type:Ex-Showroom/On Road:Loan Amount:Term Loan On Road The maximum allowable loan for individuals is Rs 30 lakhs while for non individuals, there is no maximum limit. upto 3 years - 12.05 Used Car Term Loan On Road The maximum allowable limit for both individuals as well as non individuals is Rs 6 lakhs. Upto 3 years - 13.55% Above 3 years - 14.05

above 3 years - 12.55 Tenure:Interest Rate:Fees & charges New Car Stamp Duty:Legal, Repossession and Incidental Charges:Margin: 10% Comment on Charges:EDUCATION LOAN Margin: 30% As Per Actuals As Per Actuals Used Car As Per Actuals As Per Actuals Min. - 12 months. Max. - 72 months. 12.9 % Min. - 12 months. Max. - 36 months. 14.4 %

Processing charges: 0.50% Processing charges: 0.50%

Study Abroad Course:Loan Type:Loan Purpose:Post-Graduation Term Loan Loan is given to students for pursuing Graduation: For job-oriented professional/ technical courses offered by reputed. Min. - Rs 50000 Max. - Rs 2000000 Upto Rs 4 lac: Nil Above Rs. 4.00 lac :15% Min. - 5 Yrs. Upto 4.00 lac - 12.60% p.a. Above Rs. 4.00 lac 13.35% p.a. 0.50% interest concession from card rate for Girl Students.

Study India Graduation Term Loan Loan is given to students who want to pursue Graduation Courses : B.A., B.Com, B.Sc., etc., PostGraduation Courses Min. - Rs 50000 Max. - Rs 1000000 Upto Rs 4 lac: Nil Above Rs. 4.00 lac : 5% Min. - 5 Yrs. Upto 4.00 lac - 12.60% p.a. Above Rs. 4.00 lac13.35% p.a. 0.50% interest concession from card rate for Girl Students.

Loan Amount:Margin Money:Tenure:Interest Rate:-

Fees & charges:Study Abroad Processing Fee:0.2 % Study India

Security:Up to Rs. 4 lac: No Security (only co-obligation of parents) Above Rs.4 Lac & upto Rs.7.50 lac: Third pary guarantee. Above Rs. 7.50 lac: Tangible collateral security

Conventional 1. Loans against Gold ornaments. 2. Rs.1350 per gram of gold for all types of jewellery (including hall marked jewellery). 3. Amount of Loan - Maximum 10 lacs 4. Period of loan - 6/12 months and can be further renewed 5. Simple easy documentation. Liquid gold 1. Overdraft facility against pledge of Gold ornaments, operated as a running account with facility of cheque book. 2. Rs.1350 per gram of gold for all types of jewellery (including Hall marked jewellery) 3. Amount of Loan - Maximum 10 lacs 4. Loans are granted for 6/12 months and can be further renewed. OVERDRAFT Basic Common Documentation 1. Proof of Identity: PAN Card, Voter Id Card, Passport, Driving License 2. Proof of Address: Latest Telephone Bill or Electricity Bill Trusts 1. Copy of the trust deed 2. Copy of the registration certificate

3. Copy of the resolution by the trustees authorising the members concerned to open and operate the account 4. List of Trustees with residential addresses 5. Photographs of the members operating the account Associations or Clubs 6. Bye-laws of the association or club 7. Certificate of Registration 8. Copy of the resolution by the Board authorising the members concerned to open and operate the account 9. Photographs of the members operating the account
Overdraft Interest Rate:- 11.75% - 16%

Overdraft Processing Charges:- 0.50% of the limit amount DEBIT AND CREDIT CARD Benefits of Credit Card:1) Free Credit Period : Firstly the Credit Card offers you a free credit period (of 50-55 days) from the date of the billing cycle which helps you to purchase on credit without any hassle of carrying cash, thus making your shopping much easier. 2) Online Shopping : The Credit Card helps you to buy products/services online or over the phone thus helping you to purchase anywhere 24x7. 3) Advantage of various Branding offers : Most importantly credit cards offer various discounts & schemes which are associated with entertainment, travel, shopping etc. Issuing Credit Card Banks tie up with the reputed brands to sell products/services at attractive rates which you can buy through your credit cards. To check offers running on your credit card. 4) Borrowing cash through credit cards : You can also withdraw cash through ATMs at any time. 5) Credit Cards also offer reward points on purchases which you can accumulate and redeem later with cash backs & attractive gifts etc. Compare credit cards:There is a plethora of credit card choices available in the market which would simply clutter the process of choosing your card, so before you opt for a card you must evaluate the card features on the basis of following points: • Interest rate: The interest rate is levied by banks whenever you revolve your outstanding balance into your next billing cycle; it ranges from 2.79 - 3.9 per cent per month varying from bank to bank. Go with the bank which has the cheapest interest rate. • Identify a card suiting your needs & where you spend the most : Search for a card which serves your needs & the areas of your expenditure should match the type of the card, e.g. if you are an overseas traveler you can look at a Global card which can be used for paying expenses in foreign currency and offering 24-hour travel bookings around the globe. • Annual Fee, Joining Fee & other features : You should review the features of the cards

available; make sure that the card offers maximum features such as zero annual fees, zero joining fee 24-hour helpline & good reward points program. •Grace Period/Interest free Period : It is that period offered by banks during which they don’t levy any charges, the period is between the statement date and the due date of payment. It is normally between 15 to 20 days and varies from bank to bank. You must look for a card which offers maximum grace period. • Look out for various kinds of rewards & lucrative offers : There are various cards which have a reward structure offering rewards in the form of flier points while purchasing a specific good/services & these points can be redeemed for attractive gifts & cash back offers. Card companies offer certain credit cards which come with the high annual fee and offer luxurious services like hotel accommodations, concierge services for 24X7 travel bookings around the globe.

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