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| Purpose : |
| To meet personal/ family expenses like marriage/education/family functions . |
| For purchase of consumer durables, gold / gold ornaments. |
| To meet expenditure on medical treatment of self and/or dependent at Hospitals/Nursing Homes registered with local Govt. bodies. |
| To meet travel expenses of legitimate travelers for himself & family members to cover travel cost, hotel stay and other travel related expenses. |
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| Eligibility: |
| 1. |
Permanent and regular employee in Centre/State Govt. Deptt. and other institutions like Universities, Schools/College, PSUs, reputed hospitals, and well established corporate. |
| 2 |
Minimum 3 years of service, including service with the previous employer(s), if any. |
| 3 |
The net monthly salary should not be less then Rs 6,000/-. |
| 4 |
The net take home salary should not be less than 30% of gross salary after deducting the EMI of the proposed loan.
Professionals and doctors, pensioners of Central/State Government, PSUs, Autonomous Bodies and Defence pensioners shall also be eligible for loan |
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| Relaxation in Eligibility |
| Minimum net monthly salary of Rs. 3000/- subject to fulfillment of the following conditions for the regular employees of Central / State Govt. Deptt. And other institutions like Universities, Schools / College, PSUs, reputed Hospitals and well established Corporate. |
| 1. |
Where the employer is maintaining the salary accounts of its employees with the branch and monthly installment is recovered from the salary account for adjustment of loan.
OR |
| 2. |
Where there is specific agreement / tie up arrangement made between employer and the Bank for education of loan installments from salary of the employee in more than two accounts. |
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| Amount of Loan |
| (i) |
Upto 15 months net take home salary, subject to maximum of Rs.1.50 Lac
Income of spouse can be included, provided he/she guarantees the loan or loan is availed jointly. |
| (ii) |
In case of pensioners 12 months pension subject to maximum of Rs 1.50 lac |
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| Nature of Facility |
| Term Loan |
| Overdraft limit (on liquidation basis in exceptional cases to Senior Bureaucrats/Administrators/Judges & customers of high net worth). |
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| Margin |
| Nil |
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| Click Here for Rate of Interest |
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| Process Fee: |
| 0.50% of loan amount with minimum of Rs. 500/-. |
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Security
- Charge over tangible assets, if created out of loan.
- One personal guarantee preferably of fellow employee, subject to the condition that one employee will not stand as guarantor in more than two accounts.
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| Repayment |
| 60 EMI (subject to remaining period of service) |
| In case of pensioners - Maximum 60 months within 70 years of the age of the borrower. |
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| Click here to view PLR Rates |
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| Help Line No- 1800-180-1235, 0124-2340940 |
| For unresolved queries- 011-25718132 |
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