Permanent employees of large corporate Clients.
All employees of Corporate Clients who enjoy credit facility with our bank and employees of other Corporates also who are not enjoying any credit facility with us
Twenty times of gross salary subject
to maximum of Rs.500,000/- and minimum net take home pay of 40%
of gross salary after taking into consideration payment of statutory dues, repayment of various loans including the installment of proposed loan.
- Salary to be routed through account maintained with our branch.
- 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.
- Authority Letter to be submitted by the borrower to debit the salary account for monthly installments.
- In case the salary is not routed through our Branch, the following undertaking to be submitted for sanction of loan;
- Irrevocable undertaking from the employer to deduct EMIs from the salary of the borrower employee and pay the same directly to the Bank, till full adjustment of loan amount.
- Undertaking should cover deductions not only from salary but also from bonus / exgratia payment / terminal dues in case of retirement, death, cessation of service for any other reason and any other dues from the employer.
Other Terms & Conditions
Net worth of the company and profits made by it will be taken into consideration for sanction of personal loans to the employees of the company.
For further details please contact our nearest branch or call on the toll free no. 1800 22 1911