A simple Personal Loan Scheme exclusively for the benefit of employees of Corporates, PSUs, Government Departments, Institutions, etc., and also Non salaried class like ; professional/self employed, businessment

Purpose:

• To meet genuine personal needs other than speculative purpose.

Eligibility:

• Confirmed employees of reputed PSUs and Joint Stock Companies

• Confirmed Central / State Government officials

• Lecturers / Asst. Professors / Professors of Colleges / Research Institutions and Universities.

• Non Salaried:- Business/self employed who are in the business / profession for minimum period of 3 year and who are having satisfactory dealings with the branch for at least 1 year.

• Employees salary account / business account has to be maintained with our branch

• For salaried: Minimum average net take home salary (NTH) for the last three months, of the borrower after meeting the EMI should not be less than 40%.

• For non-salaried: The gross annual income of the applicant should not be less than Rs. 5 lakh during the last 3 years.

Quantum :

• Salaried: - Six months' gross salary or Rs.1 lakh whichever is less.

• For Non salaried :-  50% of average gross annual income of the applicant for last 3 years subject to maximum of Rs.1 lakh

• Higher quantum also considered selectively.

Rate of Interest:
Please visit our interest rate page for current rates

Repayment:

• Salaried : In convenient Equated Monthly Instalments upto 48 months.

• Non-salaried : In convenient Equated Monthly Instalments upto 36 months.

Security

• Salaried : Normally, Co-obligation is required equal to loan amount.

• Non-Salaried : Suitable co-obligation good for the loan amount is required.

Processing Charges:

• 0.5% of the loan amount subject to a minimum of Rs.100/- and maximum of Rs.500/-.

Documents / Formalities

• Stipulated Loan Application with 2 copies of passport size photographs

• Latest Salary Certificate and Form No.16 / ITR/ITAO for last 3 years.

• Co-obligation

• Pronote / Pronote Covering Letter

For more details, please visit our nearest branch or call to toll free no. 1800 425 0018.