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Salary Loan

Salary

Eligibility Criteria:

  • Permanent employees of listed companies, schools, colleges or university having a minimum 3 years of residual service.
  • Minimum age Limit : 21 years.

Purpose:

  • Purchase of household articles / consumer durables.
  • Children's education.
  • Marriage and thread ceremony of self / dependants.
  • Medical expenses of self / dependants.
  • Obsequies expenses.
  • Repair of own house.

Amount of Loan:

  • Maximum 10 times of monthly gross salary.
  • Maximum quantum of loan is ₹5 lakh.

Period of Loan:

  • Upto 60 months.

Security:

  • Up to ₹ 3 Lakh :

    Co-obligation of solvent party / co-employee who should be a permanent employee of reputed companies, schools, colleges or universities.

  • Above ₹ 3 Lakh :  

    Co-obligation of solvent party / co-employee who should be a permanent employee of reputed companies, schools, colleges or universities and Liquid security of LIC policies(SV), NSC, deposits to the extent of 25% of the limit.

Rate of Interest:

The above information is subject to terms and conditions.For more details, please contact the nearest Branch