| Purpose |
- To meet personal/social/financial obligation
|
| Eligibility |
- Confirmed Permanent staff of the Government/MNCs/corporate under tie up arrangement having not more than 55 years of age and having minimum 3 years remaining period of employment.
- Salary account maintained at our
- Served for minimum 1 year in the organization and eligible for gratuity.
- PAN holder
|
| Limit |
- 25 times of net monthly income, after deduction of all the liability with other FIs and maximum up to Rs.15.00 Lac including maximum OD limit of Rs. 5.00 Lac.
|
| Nature |
|
| Interest rate |
- Competitive rate (subject to change)
|
| Repayment |
- Maximum 5 years, payable in 60 EMI bases or up to retirement age whichever earlier.
|
| Security |
- Letter from the concerned Company certifying the employment and the income.
- Authority letter for deducting of EMI & appropriating terminal dues addressed to employer by the borrower.
- Acknowledgement from the Company required for loan provided by our bank and they have to intimate us upon their resignation and employee to be relieved only after submission of No Due Certificate from the bank.
- Undertaking from the Borrower for prior information to the bank regarding his /her transfer/resignation (to be incorporated loan deed)
- Acknowledgement from the Company that in case of borrower/employee leaving the organization for whatsoever, the company shall adjust the outstanding loans at the bank from the terminal dues available.
- Personal Guarantee of spouse & or third party guarantee preferably of colleagues of the same organization.
|
