Admas loan Personal Account loan
It is a saving account for credit scheme that targets individuals particularly employees where they save a certain amount of money to get loan for purchase of a vehicle and a house.
Features and Benefits
• For purchase of a vehicle the customer should deposit 10% of the value initially, and additional 15% within the first six months and the remaining 15% in the next six months.Then after, the Bank provides loan for the remaining 60% of the value.
• For purchase of a house the customer should deposit 10% of the value initially and additional 10% within the first six months and the remaining 10% in the next six months.Then after, the Bank provides loan for the remaining 70% of the value.
• The interest rate is calculated as per the Bank’s terms and tariffs.
• The maturity of the loan for a Vehicle is 7 years and 10 years for acquisition of a House
• The assets acquired with the Bank’s finance shall be used as collateral.
• The account holder should deposit at least for one year to be eligible for the loan.
All the requirements for account opening and credit facilities stipulated in the Bank’s procedures would also apply.