Loan For Govt/PSU Employees
If you are a salary earner having a salary account with us this scheme is best suited for you if you are looking for a quick and easy loan to meet your immediate financial needs.
Purpose
- For Consumption
Who Can Borrow
- The applicant should be a permanent /regular employee in a Government/PSU department/an organization of repute
- Salary earner spouse may also join as co-borrower if the income of the applicant is not sufficient to service the loan.
Income
- Maximum Rs.4.50lac
Margin
- Nil
Repayment
- Maximum period -60 months or Retirement date whichever is earlier
Rate Of Interest
- The rate of interest as decided by the bank from time to time would be applicable.
Security
- Nil
Guarantor
- Two guarantors having sufficient net-worth acceptable to the bank.
Processing Charges
- 0.5% of the loan amount + GST
Share Holding
- 1.5% of the loan amount*
- *if loan is Rs. 1 lac or under, the applicant shall be made nominal member
Documents Required
- Photograph , PAN and KYC documents of borrower and guarantor
- ITR for three years
- Salary slip for last three months and bank statement for last six months
- Certificate from the employer that the applicant is a permanent /regular employee of that organization and no disciplinary action was taken / is pending against the employee. In case of disciplinary action taken in the past, an explanatory note to this effect would be submitted by the applicant subject to the satisfaction of bank.