• Higher loan quantum.
  • NIL Margin.
  • Lower Rate of Interest.
  • Reducing Balance Interest Rate.
  • No pre-payment penalty.
  • Quick loan approval & disbursement.
  • Purpose

    To meet any personal/domestic needs of the proposed borrower and not for speculative purpose.

  • Quantum
    • 6 months gross salary subject to a maximum of Rs 2 lacs by branch in charge of small, medium & large branches as well as Credit Managers/Senior Managers in VLBs/ELBs.
    • 10 months gross salary subject to a maximum of Rs 3 lakhs by CM/VLB, AGM/ELB, DM/AGM-RO-CAC, DM-CO-CAC/AGM-CO-CAC and above authorities.
  • Processing charges

    Minimal processing charges of 1% of the loan amount with a minimum of Rs 50/-.

  • Repayment Tenure

    In convenient Equated Monthly Instalments upto 48 months.

  • Security:

    Suitable co-obligation acceptable to bank.

  • All confirmed teaching / non-teaching staff working in a school / college - drawing salary through our branches, with an undertaking letter from salary disbursing authority at District/Block level not to shift the salary account without NOC from the branch.
  • Net take home after meeting the proposed EMI should be minimum 30% of the gross salary Or Rs. 10,000/- whichever is higher.
  • Stipulated Loan Application with 2 passport size photos of applicant / Co-applicant or guarantor.
  • KYC documents of applicant/Co-applicant or guarantor.
  • Proof of Residence (Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.
  • Latest 6 months’ salary slips/Salary Certificate (including Co-applicants) and Form No.16 & ITR if any.
  • Irrevocable Salary Mandate from Employer (wherever applicable).
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Last updated on 25-08-2023 01:01 PM

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