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Personal / Domestic
Permanent Employees of Railways, Government institutions central and State Government, schools, Hospitals etc, having completed 5 years of service and drawing salary through our branches.
Twenty times of gross salary subject to maximum of Rs.500,000/- and minimum net home pay of 40% of gross salary after taking into consideration payment of statutory dues, repayment of various loans including the instalment of proposed loan.
Ø Salary to be routed through account maintained with our branch.
Ø The borrower should give an irrevocable undertaking for not transferring salary account to any other Bank during currency of loan. Such undertaking should be got registered with/acknowledged by the employer.
Ø Authority to be obtained from the borrower to debit the salary account for monthly instalments.
Ø In case the salary is not routed through our Branch, the following undertaking to be obtained for sanction of loan;
Third party guarantee by a person having worth at least equal to loan amount and acceptable to Bank.
Rs.500/- per proposal.
48 Months -EMI or within the left over service whichever is less.
Installments to commence one month after disbursement.
Other Terms & Conditions
Salary Certificate and other Documents/Papers should be duly authenticated by the employer.