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Citizen's Charter 4

Loan and Advances

A.Pricing and Non-pricing Terms and Conditions of Loans- All Pricing and Non-pricing Terms and Conditions of Loans will be in strict conformity with the Regulatory Guidelines and correctly capture the risks involved and the rating of the borrowers concerned individually or as a class. Regulation will ensure that customers clearly understand the pricing policies of banks, and the Supervision will ensure strict compliance of bank with the Regulatory Guidelines regarding Pricing and Non-pricing terms governing all Loans.

The CBS software will be so enabled so as to provide the following Provision to apply for Retail Loan and will be available in bank's portal and Internet Banking. Reason for Penal Interest on Loan accounts, Rate of Interest charged in Loan accounts etc. will be mentioned in the Passbooks/Statement of Accounts.

Loan Interest Certificate/Education Loan interest Certificates are required for Income Tax purpose by the borrowers every year. CBS software will be enabled to generate/issue such certificates in respect of all Housing Loan and Educational Loan customers in the month of April every year.

Loan Statement- Bank will ensure that loan statements are issued to the borrowers periodically giving details of loan disbursed, demands and repayments effect along with interest and details of charges.

Loan Documents- Borrower will be made aware upfront about various documents required to be produced for processing of loan application, instead of in piecemeal.

Bank will automatically provide annual account statement to Home Loan customers without request from them. Such statements will contain details of payment made towards principal and interest including principal outstanding.

Normally bank guarantees will be closed and margin money returned upon return of original bank guarantee duly discharged by the beneficiary. In its absence, it will be closed one month after its expiry and after intimating the beneficiary. The title deeds will be returned to the customers within a period of 15 days after the loan closure and for delayed return of title deeds or where there is a loss of title deeds in the custody of the bank customer will be suitably compensated as per the Compensation Policy of the Bank.

Bank has already switched over to Base Rate. Notice with regard to the benefits of switchover and option available to the customer is displayed on our website.

Bank will send SMS or e-mail alert informing the change in interest rate on loan availed due to change in base rate etc.

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