• Product: To provide secured/unsecured loans to individuals for meeting any financial need/purposes
• Eligible customer: Personal loans will be extended mainly to salaried employees of Public Sector units, other reputed institutions and self-employed individuals. All other individuals who are willing to provide 100% collateral security in the form of NSCs, RBI bonds, LIC policies, or any other tangible security will also be eligible to avail personal loans.
• Purpose: The loan will be granted for meeting any personal purposes including consumption needs. While personal guarantee of another person may not be insisted upon in the case of fully secured loans at the discretion of the sanctioning authority, guarantee of a third party drawing the same or higher salary and having the same or higher take home pay or any other person acceptable to the Company may be insisted in the case of unsecured personal loans granted to salaried individuals. Loans will be granted to individuals only after the Company is satisfied about the credit worthiness, integrity, local standing and repayment capacity of each borrower. As a general rule unsecured personal loan will not be granted to any person who does not have regular verifiable income.
• Nomenclature and tenure of the loan: The loan will be sanctioned as a Demand Loan, repayable on demand, for a maximum tenure of 60 months. The Company may, at the request of the borrower, allow repayment in convenient instalments or equated monthly instalments.
• Quantum of finance: The quantum of finance will be decided mainly on the basis of the borrowers’ repaying capacity and the value of security provided.
• Quantum of finance: The quantum of finance will be decided mainly on the basis of the borrowers’ repaying capacity and the value of security provided.

• Interest and charges including penal interest: Interest rates will be fixed on the basis of risk assessment, cost of funds, cost of operations etc and may differ for different schemes and different categories of borrowers. Processing charges as decided from time to time will be recovered.

• Documentation: Salary certificate for salaried persons and IT returns for the last 3 years for others and any other additional documents as per the decisions of sanctioning authority will be insisted upon.

Demand Promissory Note/Agreement, ACH mandate, undertaking from borrowers for deducting instalments from salary.

Ceiling on net take home pay will be fixed in the case of salaried people to ensure prompt repayment.

The Company will be free to modify the terms and conditions of the loan scheme anytime without giving any notice, which will be made applicable prospectively. The Company may stipulate fulfilment of certain minimum criteria like age, net salary, total years of service, years of service left, owning a house etc depending upon the risk profile of the person and will have the right to reject any application for nonfulfillment of any of the criteria or without assigning any reason.

Providing Pre-Approved Top –Up Loan to existing customers: With a view to retaining existing personal loan customers a pre- approved top up loan facility can be made available. Existing customers with excellent track record of repayment can be offered pre-approved top up loans as per their eligibility. This will help to build an incremental portfolio growth. Track record of minimum 12 months or a lesser period EMI payment as found suitable may be used as a yardstick to offer such loans to existing borrowers. The top up loan shall be as a percentage of the original loan depending upon the period of track record of prompt EMI repayment reckoned and as decided by the management. Facility of data scrub as mentioned below also can be used to identify track record of repayment of loans from other lending institutions. Such top-up loans can be granted to eligible existing customers in the salaried and other segments

Personal Loans to individuals other than salaried persons:

Considering the opportunities available for lending to the above segment, instruments available to measure and mitigate risks, lending to non – salaried segment also can be made. CIBIL score and data scrub on our existing customers by reputed credit information agencies like CRIF High Marks may be used to identify potential customers in this segment with excellent track record and very low / low credit risk profile. Prospective customers identified by Fintech companies through their digital marketing platform can also be considered for financing subject to fulfilment of the eligibility criteria stipulated by the Company for granting unsecured loans

Personal Loans to Employees: Employees of Purvaja Investments Pvt Ltd and all other Divisions of the Group with a minimum service of 2 years can be granted loans for meeting personal needs. Such loans can be granted at a rate of interest of 15% p.a. and repayable within a maximum period of 24 months. The maximum limit for such loans will be Rs.1 lakh or 12 times of their monthly take home salary, whichever is lower. Modification to terms and conditions can be approved by a Committee constituted by Board.

Loans to Landlords: Unsecured loan up to 30 times the net monthly rent payable can be granted to owners of premises occupied by our branches / offices. The loan is to be repaid in EMIs within a maximum period of 36 months from the monthly rent payable. The remaining lease period should be more than the repayment period of the loan. The minimum rate of interest will be 16% p.a. and maximum 18% p.a. Service Charges @1% of the loan also to be collected. Modification to terms and conditions can be approved by a committee constituted by Board.

Loan to Traders and Self- Employed: Many of our customers availing gold loans belong to traders and self – employed category. With a view to attract such customers and to retain them with us, loans can be granted to them based on their income earning and repayment capacity duly backed by a good credit history as revealed by their CIBIL Reports. New customers not having relationship with us may also be considered. The loan will be unsecured. Spouse will be a co-applicant for such loans. If no spouse, co-applicant by a suitable close relative like father, brother etc. to be insisted upon.
Salient features of the scheme are given below.

Eligible customers
Wholesale and retail traders, Self-employed professionals like allopathic doctors, chartered accountants, company secretaries and architects.

Purpose
For any genuine business purpose (Working capital requirements, acquisition /repair/ renovation of fixed assets/ equipments / machinery etc). Loans for personal purpose will not be granted under the scheme.

Quantum of finance
As decided by management from time to time. Initially minimum loan amount may be Rs 50,000 and maximum Rs 5 L.

Documents Required
Any officially valid documents for completing KYC as given below. Identity proof: Passport / Voters ID card/ Driving License/PAN Card/Aadhar Card Address Proof: Passport / Voters ID card/ Driving License/PAN Card/Aadhar Card Ration card Tel/ Electricity Bill/ Lease agreement.

Repayment
By way of monthly EMI. EMI can be paid through ACH mandate and credited to a dedicated account. Other modes of repayment also can be made.

Interest and charges including penal interest
Interest rates will be fixed on the basis of risk assessment, cost of funds, cost of operations etc and may differ for different schemes and different categories of borrowers. Processing charges as decided from time to time will be recovered.

Period of Loan
Minimum three months and maximum 24 months

Documentation:
1. Application form
2. KYC
2. Loan Agreement
3. DPN
4. DP Note Delivery Letter
5.Postdated cheque Acknowledgement letter
6. Request for disbursal of loan amount
7. ACH mandate

Sourcing and Recovery:
Sourcing and recovery shall be by branches. If found necessary services of outside agencies can be availed.

Asset Classification and income recognition:
Asset classification and income recognition in case of all loans sanctioned under the various schemes formulated to cater to different segments, will be as per the norms prescribed by Reserve Bank of India from time to time.

Ancillary Business: The Company may, with a view to augmenting its non-fund based income, enter into arrangements with any Company or entity for selling Insurance, Mutual fund or any other products, strictly within the norms prescribed by the regulators in the respective area and those stipulated by Reserve Bank of India from time to time