A COMPARATIVE STUDY OF HOME LOANS PROVIDED BY COOPERATIVE BANK, PUNJAB NATIONAL BANK AND STATE BANK OF INDIA

Submitted by MANPREET KAUR MBA 3rd semester ROLL NO. 1174126 In partial fulfillment for the award of the degree OF MASTERS OF BUSINESS ADMINISTRATION SCHOOL OF MANAGEMENT STUDIES, BHADDAL

PUNJAB TECHNICAL UNIVERSITY, JALANDHAR

CERTIFICATE

DECLARATION
I hereby declare that project report entitled A COMPARATIVE STUDY OF HOME LOANS PROVIDED BY COOPERATIVE BANK, PUNJAB NATIONAL BANK AND STATE BANK OF INDIA submitted in the partial fulfillment of the requirement for the degree of master of business administration (MBA) to school of management studies, bhaddal affiliated to Punjab technical university, Jalandhar is my original work and has not been submitted for the award of any other degree, diploma or fellowship.

SUBMITTED TO

SUBMITTED BY Manpreet kaur MBA 3rd SEM ROLL NO: 1174126

ACKNOWLEDGEMENT
I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals. I would like to extend my sincere thanks to all of them. I am highly indebted to my project guide lecturer of school of management studies for her guidance as well as for providing necessary information regarding the project & also for her support in completing the project. I wish to express my sincere gratitude to Mr. Avatar Singh branch manager of co operative bank Morinda and other employees of the branch for providing me an opportunity to do my project work on A COMPARATIVE STUDY OF HOME LOANS PROVIDED BY COOPERATIVE BANK, PUNJAB NATIONAL BANK AND STATE BANK OF INDIA .I would like to express my gratitude towards my parents & member of my family for their kind co-operation and encouragement which help me in completion of this project.

Manpreet kaur MBA 3rd SEM ROLL NO: 1174126

PREFACE
This project report pertains to the making of summer training project of MBA curriculum. The purpose of this project is to make the students gain thorough knowledge of the topics given to them. I learned a lot about the topic after putting in much hard work in collecting the information regarding the topic allotted, which will be of a great use in future. It cannot be said with certainty that full justification has been done to the topic in the few pages presented here, but I have tried my best to cover as much as possible about HOME LOANS in this report.

TABLE OF CONTENTS
S.NO TOPIC PAGE NO.

Certificate

Declaration

Acknowledgement

Preface

CHAPTER NO.1 INTRODUCTION TO COOPERATIVE BANK INTRODUCTION TO HOME LOANS

8-48

CHAPTER NO.2 OBJECTIVES OF THE STUDY

49-50

CHAPTER NO.3 RESEARCH METHODOLOGY

51-52

CHAPTER NO.4 DATA ANALYSIS AND INTERPRETATION

53-64

CHAPTER NO.5 FINDINGS, LIMITATIONS AND CONCLUSION

65-67

10

BIBLIOGRAPHY

68-69

CHAPTER NO.1 INTRODUCTION TO COOPERATIVE BANK

INTRODUCTION TO COOPERATIVE BANKS

A co-operative bank is a financial entity which belongs to its members, who are at the same time the owners and the customers of their bank. Co-operative banks are often created by persons belonging to the same local or professional community or sharing a common interest. Cooperative banks generally provide their members with a wide range of banking and financial services (loans, deposits, banking accounts). A bank that holds deposits makes loans and provides other financial services to cooperatives and member-owned organizations also known as Banks for Cooperatives. Its a bank made for the economically weaker section of the society, those banks help them getting loans in lower interest etc. you can say like for farmers or any small scale undertakings or transactions. While the co-operative banks in rural areas mainly finance agricultural based activities including farming, cattle, milk, hatchery, personal finance etc. along with some small scale industries and self-employment driven activities, the co-operative banks in urban areas mainly finance various categories of people for self-employment, industries, small scale units, home finance, consumer finance, personal finance, etc. Though registered under the Co-operative Societies Act of the Respective States (where formed originally) the banking related activities of the co-operative banks are also regulated by the Reserve Bank of India. They are governed by the Banking Regulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965.

PRIMARY COOPERATIVE CREDIT SOCIETY

It is a village institution , which directly deals with the rural people .It encourages savings among the agriculturalists , accept deposits from them, gives loan to the needy borrowers and collects repayments. The funds of the society are derived from the share capital, deposits of members and loan from CCBs. The borrowing powers of the members as well as of the society are fixed.

CATEGORIES
There are two main categories of the co-operative banks.

a) Short term lending oriented co-operative Banks -within this category there are three sub categories of banks via state co-operative banks, District co-operative banks and Primary Agricultural co-operative societies. b) Long term lending oriented co-operative Banks -within the second category there are land development banks at three levels state level, district level and village level. The co-operative banking structure in India is divided into following main 5 categories Primary Urban Co-op Banks Primary Agricultural Credit Societies District Central Co-op Banks State Co-operative Banks Land Development Banks

FUNCTIONS OF COOPERATIVE BANKS

Co-operative Banks are organized and managed on the principle of co-operation, selfhelp, and mutual help. They work on the basis of no profit no loss. Profit maximization is not their goal. Co-operative bank do banking business mainly in the agriculture and rural sector. However, UCBs, SCBs, and CCBs operate in semi urban, urban, and metropolitan areas also. The State Co-operative Banks (SCBs), Central Co- operative Banks (CCBs) and Urban Co-operative Banks (UCBs) can normally extend housing loans up to Rs 1 lakh to an individual. The scheduled UCBs, however, can lend up to Rs 3 lakh for housing purposes. The UCBs can provide advances against shares and debentures.

10

FINANCE FUNCTION
1. Cooperative banks in India finance rural areas under: Farming Cattle Milk Personal finance

2. Cooperative banks in India finance urban areas under: Self-employment Industries Small scale units Home finance Consumer finance Personal finance

STRUCTURE OF COOPERATIVE BANKING IN INDIA

The State Co-operative Bank (SCB) which is also known as the Apex Bank among the cooperatives functions at the state level. At the district level, there is the District Central Cooperative Bank (DCCB) for each district. At the base of the pyramid there are the Primary Credit Societies or the Primary Agricultural Credit Societies (PACS) which cover small towns and villages. Each higher level co-operative bank is a federation of those below having membership and loan operations restricted to their affiliated units. 1. SCB- The State Co-operative Bank. 2. DCCB- The District Central Co-operative Bank. 3. PACS- The Primary Agricultural Credit Societies

PRIMARY AGRICULTURAL CREDIT SOCIETIES

At the base of the co-operative credit structure is the primary agricultural credit society (PACS) occupying a predominant position. The organization of PACS dates back to 1904 when the first co-operative credit society act was passed. These societies were started with the main objective
11

of providing cheap credit to farmers. They interact directly with the borrowers by providing them loans and collecting the repayment of loan already given. They are the basic units having links the ultimate borrowers and the hire financing institutions.

DISTRICT CULTURAL COOPERATIVE BANK

There are now 351 DCCBs which land about Rs. 14000 crore annually. The Central Cooperative Bank is usually located at the head quarters of the district. Central Co-operative banks are generally of two types one is the membership type i.e. federating members known as 'Banking Union' and the other is the mixed membership type, consisting of both primary members and individual having some financial status, influence or special business experience in the field of co-operative banking. The main function of Central Co-operative Banks is to land money to their affiliated primary societies.

STATE COOPERATIVE BANK

There is 29 STATE Co-operative Banks in the country. The SCBs have assumed a key position in the co-operative credit structure because it is only through them that the RBI provides loans and advances to agriculturist.

12

Table no.1

DCCBs of PSCB (District Central Cooperative Banks)

S.No. 1. 2. 3. 4. 5. 6. 7. 8. 9. NAME OF THE CENTRAL COOPERATIVE BANK AMRITSAR CENTRAL COOPERATIVE BANK BHATINDA CENTRAL COOPERATIVE BANK FARIDKOT CENTRAL COOPEATIVE BANK FAZILKA CENTRAL COOPERATIVE BANK FEROZEPUR CENTRAL COOPERATIVE BANK GURDASPUR CENTRAL COOPERATIVE BANK HOSHIARPUR CENTRAL COOPERATIVE BANK JALANDHAR CENTRAL COOPERATIVE BANK KAPURTHALA CENTRAL COOPERATIVE BANK LOCATION AMRITSAR BHATINDA FARIDKOT FAZILKA FEROZEPUR GURDASPUR HOSHIARPUR JALANDHAR KAPURTHAL A 10. 11. 12. 13. 14. 15. 16. 17. 18. LUDHIANA CENTRAL COOPERATIVE BANK MANSA CENTRAL COOPERATIVE BANK MOGA CENTRAL COOPERATIVE BANK MUKTSAR CENTRAL COOPERATIVE BANK NAWANSHAR CENTRAL COOPERATIVE BANK PATIALA CENTRAL COOPERATIVE BANK ROPAR CENTRAL COOPERATIVE BANK SANGRUR CENTRAL COOPERATIVE BANK TARANTARAN CENTRAL COOPERATIVE BANK LUDHIANA MANSA MOGA MUKTSAR NAWANSHAR PATIALA ROPAR SANGRUR TARANTARA N 0161-411966,441281 01652-25381,25078 01636-23629,29520 01633-62078,64457 01823-23977,20034 0175-224758,217053 01881-20412,20481 01672-37114,34336 01852-22339,23439 PHONE NO. 0183-543351,543076 0164-212104 01639-50144,50225 01634-22245,25245 01632-46680,46082 01874-30355 01882-24100,20771 0181-224571,224298 01822-33469,33223

"HELPS YOU LIVE BETTER"

13

1. THE ROPAR CENTRAL CO-OPERATIVE BANK a) Name: "The CENTRAL Cooperative Bank (ROPAR) b) Establishment: 1927 c) Approved by: RBI (Reserve Bank of India) d) Address of Head Office: Railon Road, Near D.A.V School ROPAR (Phone no. 01881-220412)

e) E-mail: ccb_ropar@yahoo.co.in
2. TRAINING BRANCH a) Name: "The Cooperative Morinda" b) Establishment: 1957 c) Registered no.: RPCD.CHD.No./1625 d) Address: Near Bus Stand, Garden Colony, MORINDA (Ph no. - 0160-2630054)

14

DIFFERENT TYPES OF DEPOSIT ACCOUNTS

Fig no.1

Saving Bank A/c Saving Bank - No frill A/c Term Deposit A/c Recurring Deposit A/c Current A/c Locker A/c

15

Interest Rates on Deposit with effect from 19th February 2011

Table no.2

Schemes S.No

Period from

Period up to

Rate of Rate of interest(Public) interest(Sr. citizen)

4.00% 4.00%

Saving Bank A/c

Saving Bank - No frill A/c

4%

4%

Term Deposit A/c

15 days

45 days

5%

5.50%

Term Deposit A/c

91 Days

179 Days

7.00%

7.50%

Term Deposit A/c

46 Days

90 Days

5.75%

6.25%

Term Deposit A/c

180

<1 year

8.00%

8.50%

Term Deposit A/c

1 year

< 2 year

9.25%

9.75%

Term Deposit A/c

2 years

<3 years

9.00%

9.50%

16

Term Deposit A/c

3 years and above

above

8.50%

9.00%

10

Recurring Deposit A/c

4.00%

4.00%

11

Current A/c

0%

0%

12

Locker A/c

17

INTRODUCTION TO HOME LOANS

18

Home is a dream of a person that shows the quantity of efforts, sacrifices luxuries and above all gathering funds little by little to afford ones dream. Home is one of the things that everyone one wants to own. Home is a shelter to person where he rests and feels comfortable. Many banks provide home loans whether commercial banks or financial institutions to the people who want to have a home. Many banks are providing home loans at cheapest rate to attract consumers towards them. The more customer friendly attitude of these banks, currently offer to consumers cheapest loan over homes.

OVERVIEW
Your Home is a place where you relax after coming back from your days tiring work, it is that place where you can give time to your family & spend beautiful moments with them. To acquire a home which can be christened your Own House is a life-time decision & has to be taken with a lot of planning & requires huge finances. Your Dream Home is not very far away with a Home Loans which will fulfill your Dream into a reality. We are working constantly to get you the best Loans Deal & have brought a small guide which would answer some important questions related to Home Loans & help you decide your loans deal.

DEFINITION
Home Loan is a Secured Loan offered against the security of a house/property which is funded by the banks loan, the property could be a personal property or a commercial one. The Housing Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property i.e. if the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property.

19

ADVANTAGES OF HOME LOANS

The various benefits of home loans arising to the customers are 1. Attractive interest rates The various banks offer attractive interest rates to boost and help their customers. Many banks provide loans on fixed or floating rates to facilitate consumers as per their needs. 2. Help in owning a home The home availed by a person with the help of banks, because they provide technical and financial assistance to customers for owning their dream home. 3. No requirement of guarantor The commercial banks now days liberalize their laws regarding home loans. Some of banks dont even require the guarantor to grant loan to their consumers. They also make consumers free by reliving him to find a guarantor to complete the proceedings of availing loan. 4. Door-Step Services These doors to step services are provided from enquiry stage to the final disbursement takes place such services are beneficial for customers in present busy life. Banks like ICICI bank and standard chartered bank provide door to step services to customers to borrow loan. 5. Loan period There are many banks which provide maximum loan tenures up to 15-20 years based on the loan amount and the creditability of customers. This relieves the customers to repay loan amount till a long period. 6. For accidental death insurance Some banks provide free accidental death insurance with housing loan which is also beneficial for the customers. These benefits or advantages of home loans are responsible for making than so popular among customer that a person who doesnt have their home and want to buy, they do it with home loan. Home loans help such persons in making their dream home.

20

DISADVANTAGES OF HOME LOANS

The main disadvantages of home loans are high lightened as below 1. Delays in processing Many times, there are huge delays in processing of providing home loans because various formulations to be fulfilled in this process. Due to these delays customers feel mentally as well as financially weak. 2. Fluctuating interest rates Some banks give home loans at floating rates, which fluctuate at different intervals due to some reasons. These changes sometimes, may lead to increase in interest rate which will increase the cost of home loans to the customers. 3. High Cost The public sector banks charge high processing cost for home loans sanctioning. They are forced to pay serious charges at various stages to fulfill the requirements. Some consumers are not able to pay such charges so such people could not avail the benefits of home loan schemes. 4. Problems in disbursement There are many problems in disbursement of home loan amount. There are some delays in disbursement of loan amount to the customers due to legal formalities. This causes problems to the customers. These are limitations or disadvantages of home loans. But sometimes some banks charges high installments to repay loan amount. Such also causes problem to customers. These limitations can be removed by providing good services to the customers.

21

DISBURSEMENT OF HOME LOANS

The every bank has its own procedure to disburse the loan amount among customers. After choosing your right home, the next step is disbursement of home loans. The loan amount is disbursed after identifying and selecting the property or home that are purchased and submit the requisite legal documents. In the disbursement of home loans a clear title and full verification to ensure that a person has full rights on his house. The 230A clearance of seller and or 371 clearances from the appropriate authority of income tax are also needed.

ELIGIBILITY CRITERIA
However, if one is a resident or non-resident individual who is planning to buy a house in India, one can apply for a home loan. If a person has decided to buy a property in the near future, he/she can apply for a loan before even selecting the property. Once the maximum amount to put into the property has been decided, the Housing Finance Institutions or Banks will let the customer know that how much he/she is eligible for and this helps to plan out the budget.

CONDITIONS REGARDING CO-APPLICANTS

All Housing Finance Institutions lay down conditions on who can be co-applicants. All co-owners to the property need to be co-applicants to the loan necessarily. These institutions do not permit minors to join in as either co-owner or as co-applicants because a minor is not eligible to enter into a contact as per law. They do not permit even friends or relatives who are not blood relatives to take a property jointly. However, Income of co-applicants can be clubbed together to get higher loan eligibility. Given below is a Table that throws light on acceptable relationship of a co-applicant for clubbing of income.

INCOME CLUBBING OF CO-APPLICANTS

Husband-Wife- Income of husband-wife can be clubbed. Parent-son- It can be clubbed if only son is there but not if any male sibling exist. Brother-Brother-If they are currently staying together and intend to stay together in the new property, then only, their income can be clubbed for above purposes.
22

Brother-Sister-No clubbing-is possible. Sister-Sister- No clubbing is possible. Parent-Minor- Child- No clubbing is possible in this case also.

GENERAL TERMS AND CONDITION

The following are the terms and conditions applicable to the basic home loan product only. These are likely to change on the basis of the variations of the home loan product. Typically, in general home loans, the following conditions are applicable. 1. The loan to value ratio (LTV) cannot exceed a particular percentage. This differs from product to product and from one Housing Finance Institutional Bank (HFI/B) to another. The components of the value of the property calculated here are covered under cost of property. 2. The maximum tenure of the bank is nominally fixed by HFI/Bs. However, HFls/Bs do provide for different tenures with different terms and conditions. 3. The installment that one pay is normally restricted to about-50-per cent of the monthly-gross income of the candidate. 4. The total monthly outflow towards all the loans that have been availed of, including the current loan is normally restricted to 50% of the gross monthly income. 5. One will be eligible for a loan amount which is the lowest as per one's eligibility. This is calculated as per the LTV norms, the HR, norms and the FOIR norms as mentioned above. 6. Most HFls/Bs considers the profile before they judge the repayment capacity. The judgment is based on age, qualifications, number of dependents, employment details, employer credentials, work experience, previous track record of repayment of any loans that have been availed of, occupation, the industry to which the candidate's business relates to, if he/she is self-employed, then the turnover in the last 3-4 years etc.

23

 CHARGES APPLICABLE TO HOME

The different kinds of charges applicable to home loans are discussed below: 1. Processing fees First of all, comes the process fee. This is a charge that is levied by most HFls/Bs. This has to be paid at the time of submission of the application form. It's normally charged as a percentage of the loan amount sanctioned. Some HFls also charge a flat fee based on the loan amount instead of a percentage. When a lower amount is sanctioned the excess fees paid at the time of submission of the application is adjusted with the charges, which one make to the HFI/B subsequently. Most HFls/Bs refund the processing fee if the loan application is rejected. 2. Administrative fees This charge is again, normally, a percentage of the loan amount sanctioned. It is collected by the HFI/B for the maintenance of customer's records, issuing interest certificates, legal charges, technical charges, etc. though the tenure of the loan. It is payable by the customer when he/she accepts the offer letter given by the HFI/B. This payment has to be made before the availment of the disbursement. The mode of collection of these fees varies from one HFI/B to another. 3. Rate of interest This is the rate of interest applicable on the loan amount through the tenure of the loan. It is charged on the principal monthly reducing method. Most HFIs/Bs gives an option to select either a fixed rate of interest or a variable rate of interest. 4. Legal Charges Some HFIs/Bs mainly Public Sector Banks levy legal charges that they incur on getting the property documents vetted by their panel of lawyers. 5. Technical Charges These charges are also levied by certain Housing Finance Institutions/Banks (HFIs/Bs) to meet their expenses on the technical site visits to the customer's property. This ensures quality of construction and construction within the norms as stipulated by the respective approval authority. 6. Stamp duty and registration charges
24

HFIs that go in for a registered mortgage pass these charges on to the customer. These are rather heavy in certain states depending on the laws laid down by the state where one buys a property. 7. Personal Guarantee from Charges Since the personal guarantee provided by the customer need to be stamped, these charges are also recovered from the customer. They are charged to him by HFIs who demand for Guarantees. 8. Cheque Bounce Charges In case the cheques through which one makes a payment to HFls get dishonored, some minimum charges are levied by the HFI. The same are recovered from the customer. 9. Delayed payment charges HFls/Bs charge delayed payment charges from the customer if he/she delays the payment of installments beyond the due date. 10. Additional charges These are levied as a percentage on the delayed payment charges by most HFls. They are levied if one fails to pay the dues within the stipulated time after a delay has taken place. 11. Incidental charge This is payable in case the HFI/B sends a representative from their organization to collect their outstanding dues. It is normally charged at a flat rate per visit. These charges are levied by most HFls/Bs. 12. Prepayment Charges. This is a penalty charged by HFls/Bs from when one makes either a part prepayment or a full repayment of the loan. This charge is levied only on lump sum payments and not on the EMls that one pays. This charge is levied on the amount prepaid by one and not on the entire outstanding principal. These charges are gradually being discount.

25

 CREDIT DOCUMENTATION
Given below is the exhaustive list of credit documents- that need to be submitted for a general home loan product. The documents vary from one HFI/B to another based on one's employer, qualifications experience etc. The general requirements are as follows: 1. Income Documents For salaried slips for the last three months-appointments letter-salary certificateretainer ship agreement, if appointed as a consultant-Form 16 issued by the employer in customer's name income document for self employee - last three years profit and loss account statement duly attested by Chartered Accountants. Last three years Balance Sheets duly attested by Chartered Accountant, last three years Income Tax Returns with computation chart duly filed and certified by the Income Tax authorities. 2. Proof of employment - Identify card issued by the employer- Visiting card. 3. Employer's details (In case of private limited companies) Profile of employer on employers letterhead (to be signed by a senior person in the organization) comprising Name of promoter/directors Background of promoters/directors Nature of business activity of your employer Number of employees List of branches/factories List of suppliers List of clients/customers Turnover of employer Annual reports of the employer for the last two to three years. 4. Proof of age (Anyone of the following) - Passport- Voter's ID card-PAN cardRation card-Employer's identity card-School leaving certificate-Birth certificate. 5. Proof of residence (Anyone of the following) - Ration card-Passport- PAN cardRent agreement, if the customer is staying currently on rent- Bank Pass bookAllotment letter from the company if he/she is residing in company quarters.

26

6. Proof of name change (If applicable) - A copy of the official gazette -A copy of a newspaper advertisement publicizing the name change-Marriage certificates.

LEGAL DOCUMENTATION
Legal Documentation the typical legal documents that need to be submitted to the HFC arc discussed here. Given below is a list of legal property documents that need to be submitted to the HFC for mortgage of the property. The name and the list of documents vary from state to state and also depend on the type of property being financed. A broad outline of the documents required is given below. 1. Acceptance copy of the offer letter issued by the HFC/B. 2. Title documents of the property that include -sale agreement duly registered-Own contribution receipts - Allotment letter-Registration receipt-Land documents indicating ownership, if applicable- Possession letter-Lease agreement, if applicable (Property bought from a development authority) - Mortgage deed if the HFC opts for a registered mortgage. 3. No Objection Certificate from the developer, society or development authority as applicable. 4. Personal Guarantees, if applicable. 5. In case of alternator additional security, documents for the same depending upon the security details. 6. Post dated cheques for the EMls. The above documents are only indicative in nature and do not cover the entire list. It may, also be noted that in a resale case, the previous chain of agreement also need to be taken.

27

THE COOPERATIVE BANK HOME LOAN

The Co-operative Bank Home Loans, offer unbeatable benefits to ensure that you get the best deal without any hassles. The largest home loan provider, Bank understands how special creating a new home is for you, and our Home Loans help you lay the foundation for your dream home.

FEATURES
Home Loans are the best option you can go for to finance a new home. The Co-operative bank offers you the most convenient and practical home loan plans to suit your needs. With so many attractive features in every type of home loan it offers, creating the home you always wanted is no longer a distant dream. Attractive loan interest rates Home loan amount suited to your needs Simplified documentation Doorstep delivery of home loan papers Sanction approval without having selected property. Free personal accident insurance (terms & condition) Insurance options for your home loan at attractive premium They provide two types of home loan schemes. Urban Housing Loan Scheme Rural housing Loan Scheme The loan under such scheme shall be implemented through the branches of the Punjab State Cooperative Bank / Central Cooperative banks concerned and shall be limited to urban and/ rural areas falling in the area of operation of the lending bank.

AREA OF OPERATION
Loan shall be advanced to individual and member of Group housing Cooperative Societies in the area of operation banks in state of Punjab.

28

ELIGIBLE BORROWERS
Individuals Members of cooperative housing societies

PURPOSE OF LOAN
Loan shall be advanced under the scheme for purchase of built up house, construction of a new house or repair/renovation/addition/alteration of existing house.

LOAN ELIGILBILTY
Loan eligibility shall be calculated on the basis of repayment capacity of the borrower. The repaying capacity shall be determined on the basis of land holding and other known sources of income and commitments/ subsistence towards his family. A reasonable installment to income ratio i.e. normally up to 35% of the gross income can also be considered for loan eligibility.

PERIOD OF LOAN
The maximum period of loan shall be 15 years and loan shall be repayable in equated monthly /half yearly installments. The first installment shall become due after expiry of 9 months from the date of drawl of first installment in case of construction and where as in the case of purchase of built up house it shall start after expiry of 3months from purchase.

SECURITY
Security for the loan is a first mortgage of the property to be financed normally by way of deposit of original title deeds.

DISBURSAL OF LOAN
In case of urban housing loan scheme The loan shall be disbursed after the property is technically appraised, all legal documentation completed and borrower having invested own contribution in full.

29

In case of purchase of plot +construction, the disbursement shall be in 3 installment as follows : 1. For purchase of plot - 50% 2. Up to roof level 25% 3. After roof level -25% Loan will be disbursed at one go for purchase of a built up house. However for construction on pre-owned plot, the disbursement shall be in two installments 1st installment for after plinth level - 50% 2nd installment for construction of the building after roof level - 50% In case of rural housing loan scheme 1. 1st installment at the time of starting constructing after plinth level 50% 2. 2nd installment after completion of roof level - 50% 3. 2nd installment shall be disbursed after ensuring proper utilization of previous installment.

PROCESSING FEE & OTHER CHARGES

Processing fee and other charges @ 0.25% of loan amount shall be charged in the case of urban/ rural housing loan scheme.

INSURANCE
Comprehensive insurance in the joint names of the borrower and the bank shall be made the property mortgaged against fire, riots earthquake lighting floods etc. in case of default bank will be at liberty to get policy renewed by debit to house loan account of the borrower.

CUSTOMER PRIVILEGES
If you are an existing Home Loan customer, you can avail of other loans (such as Personal Loans, Car Loans, Two-wheeler Loans and Loan against securities) at lower interest rates.

30

DIFFERENT TYPES OF LOANS SCHEMES OF COOPERATIVE BANK Fig no. 2

Personal Loan Scheme

Non Farm Sector Loan Scheme (NFS)

Consumer Durable Loan

Vehicle Loan Scheme

Second hand Vehicle Loan Scheme

Urban Housing Scheme

Cash Credit Facility to Traders

Revolving Cash Credit to Farmers (RCC)

Two Wheeler Loan to Farmers

Rural Housing Scheme

Mini Dairy Scheme

Commercial Dairy Development Scheme

Cooperative Education Loan Scheme children of poor farmers, Dalits, BC, etc.

Loan against Rental Income Scheme

Dairy Loan Scheme to purchase a Cow

Loan against Property

Loan scheme for Earnest Money

Mai Bhago Istri Shakti Scheme

Bhai Lalo Sehkari Kirt Shakti Scheme

Education Loan

Credit for Setting up of Net House

Credit for Setting up of Agricultural Service Centre

31

Interest Rates on Loans with effect from 7th July 2011

Table no.2

S.No

Schemes

Period from

Period up to

Rate of interest(Public)

Rate of interest(Sr. citizen)

Personal Loan Scheme

14%

14%

Non Farm Sector Loan Scheme (NFS) -

Up to Rs.0.50 Lac 11.50% Above Rs.0.50 Lac 12.00%

Up to Rs.0.50 Lac 11.50% Above Rs.0.50 Lac 12.00%

Consumer Durable Loan

14%

14%

Vehicle Loan Scheme

Up to Rs.3.00 Lac 13% Above Rs.3.00 Lac 13.50%

11.50%

Second hand Vehicle Loan Scheme

13%

13%

Urban Housing Scheme

10%

10%

32

Cash Credit Facility to Traders

13%

13%

Revolving Cash Credit to Farmers (RCC)

11%

11%

Two Wheeler Loan to Farmers

11.50%

11.50%

10

Rural Housing Scheme

10%

10%

11

Mini Dairy Scheme

10.50%

10.50%

12

Commercial Dairy Development Scheme

10%

10%

13

Cooperative Education Loan Scheme children of poor farmers, Dalits, BC, etc.

7.25%

7.25%

33

14

Loan against Rental Income Scheme

14%

14%

15

Dairy Loan Scheme to purchase a Cow

10.5%

10.50%

16

Loan against Property

14%

14%

17

Loan scheme for Earnest Money

As fixed by the Bank.

..

18

Mai Bhago Istri Shakti Scheme

PACS to members 11.50%CCB to PACS 9.50%

PACS to members

19

Bhai Lalo Sehkari Kirt Shakti Scheme

PACS to members 11.50% CCB to PACS 9.50%

PACS to members 11.50% CCB to PACS 9.50%

20

Education Loan Credit for

9%

9%

21

Setting up of Net House

12%

12%

34

22

Credit for Setting up of Agricultural Service Centre

12%

12%

35

Rate of interest Table no.3

TENURE
For loans repayable in/up to

Rate of Interest @ percent p.a.

Loan Amt. up to Rs.15 lakh Loan Amt. above Rs.15 lakh

Up to 5 years floating

8.50

10.00

fixed

9.50

10.00

Above 5 years & up to 10 years floating

10.50

12.50

fixed

12.50

13.00

36

PUNJAB NATIONAL BANK HOME LOANS

PNB reaches out to you with fast, friendly and most convenient home loans for: Construction or purchase of house/flat. Purchase of house/ flat on First Power of Attorney basis from the original allotted. Carrying out repairs/ renovations/ additions/ alterations to existing house/ flat.

FEATURES OF PNB HOME LOAN

Bank offers home loan under both Floating & Fixed category. Housing finance facility is available for construction or purchase of new/old house/flat/plot Maximum loan repayment period for construction/purchase of house/flat is 25 years or when borrowers attain the age of 65 years whichever is earlier. Maximum moratorium period to start home loan EMIs is 18 months Maximum amount for home loan available is 75% of the value in purchase of house/flat. Maximum loan available up to Rs 20 lakh for purchase of land/plot

ELIGIBILTY
Any individual having regular source of income with age 18 to 65 year is eligible to apply for a home loan. Income of spouse or children can also be added.

CHARGES
Loan processing charges - For loan amount up to 3 crore is 0.50% of the loan amount max. Of Rs 20000 + taxes & for loan above 3 crore 0.90% of the loan amount + taxes Documentation charges - Rs 1350/- + taxes Prepayment charges - Nil when loan is repaid by the borrower on his own from his own funds, or when the borrower shifts to some other bank after increase in interest rate within 30 days.2% in case of when the loan is repaid by some other financial institution or banks.

37

INTEREST RATE
Lending rate structure is that interest rate for home loan can be fixed or floating. Floating rate varies with BPLR & Base Rate. Currently the base rate is 10% and BPLR is 13.50% with effect from 05.05.2011 Currently loan is available as per floating rate Table no.4

Loan Amount

Up to 5 yrs

Above 5-10 yrs

Above 10-15 yrs

Above 15-20 yrs

Above 20-25 yrs

Up to 30 lakh

10.5

10.75

10.75

11

11

Above 30 lakh to < 75 lakh

11.25

11.5

11.5

11.75

11.75

75 lakh & Above

11.5

11.75

11.75

12

12

DOCUMENTATIONS
1. Salaried Individual Application form with recent photograph Salary slip of last 3 months Latest Form 16 Bank statement for last 6 months Processing fee check Proof of identity (any one): Passport Driving license/photo credit card/Employee license/Voter's ID/PAN card
38

Proof of Residence (any one): Driving license/Any utility bill/Govt. or authority bill Proof of age (any one) : Passport/Voter's ID/PAN card/' Birth certificate/life insurance policy or premium receipt Signature verification proof Repayment track record of existing loans/Loan closure letter.

2. Self-Employed Application form with recent photograph Bank statement for last 6 months Processing fee check Proof of age (any one) : Passport/Voter's ID/PAN card/'Birth certificate/life insurance policy or premium receipt Proof of identity (any one): Passport Driving license/photo credit card/Employee license/Voter's ID/PAN card Proof of Residence (any one): Driving license/Any utility bill/Govt. or authority bill P&L and balance Sheet for last 2 years certified/audited by CA Qualification proof of the highest professional degree Proof of existence Income Tax return/Computation of total income/Auditor's Report Balance sheet/Profit and loss account for last 2 years certified by CA Repayment track record of existing loans/Loan closure letter Proof of office address Board Resolution in case of company

EXTENT OF LOAN
1. Individual For construction/ purchase of house/ flat - 75% of the cost of construction of house or purchase of house/ flat. For carrying out repairs/ renovation/ additions/ alterations - 75% of the estimated cost subject to maximum of Rs. 20lacs. Loan up to Rs.20 Lakh for purchase of Land/Plot. Loan is available maximum up to Rs.2 Lakh for furnishing.
39

2. Security Mortgage of property for which finance is being given. In case of purchase of house/ flat from housing board/ society where mortgage cannot be created immediately, a tripartite agreement shall be executed amongst the housing board/ society, borrower and the Bank. In case of purchase of house/ flat on first power of attorney, additional security equal to 125% of the loan amount by way of mortgage of some other property or pledge of bank's FDR/ LIC policy/ Govt. Securities, NSCs, KVPs, IVPs, / PSU Bonds etc. has to be provided. Fixed Rate of Option is subject to Reset Clause of Five Years. Extra rate of interest of 0.50% on Card Rates to be charged in respect of persons already having one or more houses and availing housing loan for subsequent house(s). Option for Fixed or Floating Rate of Interest exercised by the borrower will not be allowed to be changed for a minimum period of 3 years, where after any change would be at the discretion of the Sanctioning Authority.

UPFRONT FEE
0.90% of the loan amount + Service Tax & Education Cost

REPAYMENT
Loan is to be repaid in equated monthly installments within a period of 25 years or before the borrower attains the age of 65 years.

DISBURSEMENT
For outright purchase of house/ flat, the loan amount will be paid in lump sum to the vendor. For house/ flat under construction, the loan amount will be disbursed in stages as per progress of construction/ demand by selling agency.

40

Rate of interest charged by PNB Table no.5

TENURE Rate of Interest @ percent p.a.

For loans repayable in/up to

Loan Amt. up to Rs.20 lakh

Loan Amt. above Rs.20 lakh

Up to 5 years - floating

9.00

10.00

fixed

9.25

10.25

Above 5 years & up to 10 years floating

9.50

10.00

fixed

10.25

10.50

Above 10 years & up to 20 years- floating

9.75

10.25

fixed

10.75

11.00

Above 20 years & up to 25 years- floating

10.00

10.50

fixed

11.25

11.50

41

Figure no.3 Interest rates of Punjab national bank

Interest Rate

11% Floating rate, >30 lakh to< 75 lakh for 20 yrs

Pre payment charges

2%

Balance Transfer Charges

2%

Part-payment Charges

Nil

Switching Charges Nil (Fixed to Floating or vice-aversa) Loan to Value ratio 75%

Speed of Sanction

7 working days

Ease of documentation

Pre- Approved projects only. Less Documentation Good

Customer Service

Franking Charges

0.2%

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STATE BANK OF INDIA HOME LOANS

"The

most preferred home loan provider" voted in AWAAZ Consumer Awards along with the

most preferred bank award in a survey conducted by TV 18 in association with AC Nielsen-ORG marg in 21 cities across India. SBI Home Loans now offers Interest Rates concessions on green homes in accordance with SBI's commitment to Environment protections Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India. Best Practices followed in SBI mentioned below will tell you why it makes sense to do business with State Bank of India. Table no.6 Best practices followed in SBI

People dealing with End to End service by Permanent employees of SBI who are you accountable to you.

Place

SBI branch of your choice will service your loan account. You can always meet our employees face to face.

Price

Complete transparency. Interest charged on the daily reducing balance.

Prepayment charges

No penalty for prepayments made, out of bonafide savings or windfall gains for which evidence is produced.

Costs hidden in fine print

No hidden costs

Transparency

Complete transparency. All the features of our product, including

43

interest rates, are in the public domain.

PACKAGE OF EXCLUSIVE BENEFITS Complimentary international ATM-Debit card Complimentary SBI Classic/ International Credit Card. Option for internet-banking Concessional package under Credit Khazana for prospective Auto Loan, Student Loan, Personal Loan borrowers whose accounts are conducted satisfactorily. 50% concession in charges in respect of all personal remittances/ collection of outstation cheques. Personal loan at attractive rates under SBI Home Plus scheme tailored exclusively for SBI Home Loan customers.

PURPOSE
Purchase/ construction of house/flat Purchase of a plot Of land for construction of House Extension/ repair/ renovation/ alteration of an existing House/ Flat Purchase of Furnishings and Consumer Durables as a part of the project cost. Takeover of an existing loan from other Banks/ Housing Finance Companies

FEATURES
Interest charged on the daily reducing balance No penalty for prepayments made No hidden costs All the features of our product, including interest rates, are in the public domain. Loan sanctioned within 6 days of submission of required documents. Option to club income of your spouse and children to compute eligible loan amount Provision to club depreciation, expected rent accruals from property proposed to compute eligible loan amount
44

Provision to finance cost of furnishing and consumer durables as part of project cost Repayment permitted up to 70 years of age. Free personal accident insurance cover up to Rs.40 Lac. Optional Group Insurance from SBI Life at concessional premium (Upfront premium financed as part of project cost) Plus schemes which offer attractive packages with concessional interest rates to Govt. Employees, Teachers, Employees in Public Sector Oil Companies. Special scheme to grant loans to finance Earnest Money Deposits to be paid to Urban Development Authority/ Housing Board, etc. in respect of allotment of sites/ house/ flat.

ELIGIBILTY
Minimum age 18 years as on the date of sanction Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid. Availability of sufficient, regular and continuous source of income for servicing the loan repayment.

Current Floating Home Loan Interest Rates of SBI Table no.6

Bank name

Up to 30 lakh

From 30 to 75 lakh

Above 75 lakh

10.50% SBI (special scheme up to 30 Sept 12), than 10.75%

10.75% (special scheme up to 30 Sept 12), than 11%

11% (special scheme up to 30 Sept 12) , than 11.25

45

LOAN AMOUNT

40 to 60 times of NMI, depending on repayment capacity as % of NMI as under Net Annual Income EMI/NMI Ratio

Up to Rs.2 lakh

40%

Above Rs.2 lakh to Rs. 5 lakh

50%

Above Rs. 5 lakh

55%

PRE- CLOSURE PENALTY

No penalty if the loan is precolsed from own savings/windfall gains for which documentary evidence is produced by the customer. In case, such proof is not produced by the borrower, penalty @2% on the amount prepaid in excess of normal EMI dues shall be levied if the loan is preclosed within 3 years from the date of commencement of repayment. Maximum Repayment Period For applicants up to 45 years of age: 20 years For applicants over 45 years of age: 15 years

DOCUMENTS
Completed application form Passport size photograph Proof of Identity PAN Card/ Voters ID/ Passport/ Driving License Proof of Residence Recent Telephone Bill/ Electricity Bill/ Property tax receipt/ Passport/ Voters ID
46

Proof of business address in respect of businessmen/ industrialists Sale Deed, Agreement of Sale, Letter of Allotment, Non encumbrance certificate, Land/ Building Tax paid receipt etc. (as applicable and subject to satisfaction report from our empanelled lawyer) Copy of approved plan and approval from the Local Body Statement of Bank Account/ Pass Book for last 6 months
Table no.7

Topic

Salaried

Self employed

Age

21years to 60years

21years to 70years

Minimum Income per annum Min Loan Max Loan

Rs.1,20,000 (p.a.) 5,00,000 1,00,00000

Rs.2,00,000 (p.a.) 5,00,000 2,00,00000

Tenure

5years-20years

5years-20years

Experience required

2years

3years

47

Rate of interest of SBI home loan

Table no.8

TENURE

Rate of Interest @ percent p.a.

For loans repayable in/up to

Loan Amt. up to Rs.20 lakh

Loan Amt. above Rs.20 lakh

Up to 5 years floating

10.50

11.00

fixed

12.75

13.25

Above 5 years & up to 10 yearsfloating

10.75;

11.25

fixed

12.75

13.25

Above 10 years & up to 20 yearsfloating

10.75 - 11.00

11.25 - 11.50

fixed

12.75

13.25

Above 20 years & up to 25 yearsfloating

11.00

11.50

fixed

12.75

13.25

48

CHAPTER NO.2 OBJECTIVES OF THE STUDY

49

OBJECTIVE OF THE STUDY

There is no strongest foundation for your dream home, than a cheap loan. Home loans have become those stronger foundations for people who want to own a home. The main objectives of the study are as follows:To study the satisfaction level of consumers regarding home loan facilities provided bank. To study the procedures of home loan adopted by different banks To study the difficulties faced by customers while availing personal loan. To know about the purpose of taking loan. To know about the preference of the customers.

NEED OF STUDY
The Indian housing finance industry has grown by leaps and bound in few years. A total home loans disbursement by banks has raised which witnesss phenomenal growth from last 5 years. There are greater numbers of borrowers of home loans. So by this study I can find out satisfaction level of customers and problems faced by them in obtaining home loans.

SCOPE OF STUDY
Based on the findings and recommendations of the study the present study will be confined to three commercial Banks in Morinda city namely PNB, State Bank of India, the Co-operative Bank. It includes public sector banks.

50

CHAPTER NO.3 RESEARCH METHODOLOGY

51

RESEARCH DESIGN
This project is based on exploratory study as well descriptive study. It was an exploratory study when the customer satisfaction level was studied to suggest new methods to improve the services of banks in providing home loans and it was descriptive study when detailed study was made for comparison of home loans of different commercial banks.

DATA COLLECTION METHODS

The method which I used was secondary data for collecting relevant data necessary for this project topic which was collected from various sources like magazines, journals and different internet websites.

52

CHAPTER NO.4 DATA ANALYSIS AND INTERPRETATION

53

1. From which of the following institution you have taken the loan?

Bank

No. of Respondents

%age of Respondents

SBI PNB co-operative Others TOTAL

9 11 20 10 50

18% 22% 40% 20% 100%

9%

11% SBI PNB 50% 20% co-operative OTHERS

10%

Interpretation
This pie chart shows that 18% of respondents have taken loan from SBI, 22% from PNB, 40% from The Cooperative, 20% from others.
54

2. Which bank is more secure according to you? Bank PNB SBI Cooperative Others Total No. of respondents 11 13 18 8 50 %age of respondents 22% 26% 36% 16% 100%

11%

13% 50%

PNB SBI Cooperative Others

18%

8%

Interpretation
The pie chart shows that 36% of the respondents in matter of security of bank are in favors of Cooperative bank, 26% of them in favors of SBI, 22% respondents are in favor of PNB, only 16% respondents are favoring others.

55

3. What is the amount of loan availed by the customers? Amount (RS) Below 2 Lac 2 10 Lac 10-15 Lac Above 15 Lac TOTAL No. of respondents 18 25 5 2 50 %age of Respondents 36% 50% 10% 4% 100%

4% 10%

36% Below 2 Lac 2 10 Lac 10-15 Lac Above 15 Lac

50%

Interpretation The above pie-chart shows that 50% of customers have taken loan between Rs. 2-10 lakh, 36% below Rs. 2 lakh, 10% between Rs. 10-15 Lac and 4% customers above Rs. 15 lakh.

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4. What is the purpose of the loan? Purpose Construction Improvement Purchase Extension Equity Total Respondents 26 6 12 5 1 50 Percentage 52% 12% 24% 10% 2% 100%

2% 10% Construction Improvement 24% 52% Purchase Extension Equity 12%

Interpretation This pie- chart shows that 52% of respondents have taken loan for construction purpose, 24% have taken loan for purchase purpose 12% have taken loan for improvement purpose, 10% have taken loan for extension purpose and rest 2% comes under equity purpose.

57

5. What is loan repayment period? Duration Up to 5 years Up to 10 years Up to 15 years Up to 20 years TOTAL No. of Respondents 18 16 15 9 50 %age of Respondents 36% 32% 30% 18% 100%

15% 31% Up to 5 years Up to 10 years Up to 15 years 26% Up to 20 years

28%

Interpretation This pie-chart shows that 18% of customers have opted for loan repayment period of 5 years, 30% of respondents have opted for loan repayment period of 10 years, 36% of respondents have opted for loan repayment period of 15 years and 16% have opted for loan repayment period of 20 years.

58

6. Who among your family mainly decides to take a loan? Decider Self Parents Friends/ Relatives Others TOTAL No. of Respondents 32 10 4 4 50 %age of Respondents 64% 20% 8% 8% 100%

8% 8%

Self Parents 20% 64% Friends/ Relatives Others

Interpretation This pie chart shows that 64% of respondents have their own decision to take home loan, 20% of respondents depend on their parents decisions and 8% by friends/ relatives and rest 8% by other sources.

59

7. From where you come to know about a particular bank or Institution? Sources Newspapers/ Magazines Internet/T.V. Exhibitions Builders/ Developers TOTAL No. of Respondents 18 12 9 11 50 %age of Respondents 36% 24% 18% 22% 100%

22% 36% Newspapers/ Magazines Internet/T.V. Exhibitions 18% Builders/ Developers

24%

Interpretation This pie chart shows that newspaper/ magazines are main source of information for customers i.e. 36% whereas 24% of customer comes to know from internet/ radio/T.V., 22% from builders/ developers and rest 18% from exhibitions.

60

8. How much are you satisfied from your service provider? Decider Very Satisfied Satisfied Indifferent Dissatisfied Very Dissatisfied TOTAL No. of Respondents 10 30 2 6 2 50 %age of Respondents 20% 60% 4% 12% 4% 100%

4% 12% 4% 20% Very Satisfied Satisfied Indifferent Dissatisfied Very Dissatisfied

60%

Interpretation These pie-chart shows that 60% of respondents are satisfied from their service providers and 20% are very satisfied, 12% are dissatisfied and 4% are very dissatisfied and 4% of the respondents are indifferent towards it.

61

9. Have you ever faced any problem from your Home Loan institution? Response Yes No No. of Respondents 18 32 %age of Respondents 36% 64%

TOTAL

50

100%

36% Yes No 64%

Interpretation This pie chart shows that 64% of respondents have faced no problem while 36% of respondents have faced problem of intimation, proper dealing, networking, interest rates etc.

62

10. In future, if required, which of the following institution would you approach for taking a Home Loan? Name PNB SBI Cooperative Others TOTAL No. of Respondents 10 12 15 13 50 %age of Respondents 20% 24% 30% 26% 100%

20% 26% PNB SBI Cooperative Others 24%

30%

Interpretation This pie chart shows that in future, 30% of customers would take home loan from Cooperative Bank, 24% from SBI, 20% from PNB, 26% from other home loan institutions.

63

11. What us the type of loan availed by customers?

Type of Loan Fixed Rate Home Loan Adjustable Rate Home Loan No. of Respondents 15 35 %age of respondents 30% 70%

Total

50

100%

30%

Fixed Rate Home Loan Adjustable Rate Home Loan

70%

Interpretation This pie-chart shows that majority of customers opted for Adjustable Rate Home Loan i.e. 70% and 30% have opted for Fixed Rate Home Loan.

64

CHAPTER NO.5 FINDINGS, LIMITATIONS AND CONCLUSION

65

FINDINGS
1. Most of the customers are satisfied from the Cooperative bank services because of their attractive interest rate charged on loans 2. Majority of the customers feel secured while availing loans from Cooperative banks followed PNB or SBI. 3. The main purpose of taking home loans is Construction followed by repairs, purchase or improvement. 4. Maximum customers availed loans on adjustable rates for their own benefits. 5. The Customer availed loan amount of 2 lakh to 10 lakh.

LIMITATIONS
This study has been restricted to Morinda City only. The information provided by the respondents may be biased and incorrect. The sample may not represent the whole population. Paucity of time and resources could lead to the inability of conducting a large survey. Approaching customers who had taken loan from sample institutions were not easy. Most of the customers were busy and were not willing to answer.

66

CONCLUSION
In this project report the summary of the whole project has been covered how the whole project was carried out and the analysis was made. This project is based on the Comparative study of home loans provided by different banks. This topic covers the objective of studying the customer satisfaction level and comparative study of disbursement of home loans. The Housing Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property. There are some advantages and disadvantage of availing bank loans. In this project study, first of all objectives were received to carry out this project. To study the topic under research the secondary data was collected. Such banks are emerging at higher position due to that public sector banks on ground of professionally managed services, reliable & transparent system, easy query handling etc. The problem faced by customers while availing home loans also reviled by this project. Finally the whole research was carried out in a systematic way to reach at exact results. The whole research and findings were based on the objectives. However, the study had some limitations also such as lack of time, lack of data, non-response, reluctant attitude and illiteracy of respondents, which posed problems in carrying out the research. But proper attention was made to carry out research in proper way which may beneficial for banks to enhance their customer base.

67

BIBLIOGRAPHY

68

INTERNET WEBSITES
www.google.co.in www.sbi.co.in www.deal4loans.com http://www.rupeetalk.com/home-loan/compare-and-apply-pnb-home-loan/ http://www.investmentbazar.com/eligibility-criteria/ http://www.pnbindia.in

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