Personal Loan

CONSUMER & PERSONAL LOANS TO EMPLOYEES OF REPUTED ORGANIZATION
PARAMETER	PARTICULARS
Eligible borrower	Employees of reputed organisation with minimum 3 years of confirmed service
Purpose	The purpose of the loan is to meet the personal necessities of the applicant
Quantum of loan per employee	1. 10 times of gross monthly salary subject to upper ceiling fixed by the bank from time to time. 2. Total deductions towards loan repayment including the instalments of the proposed loan should not exceed 50% of gross salary.
Tenure	Maximum : Upto 60 months
Repayment	In EMIs (Total deductions including proposed EMI should not exceed 50% of gross salary of the applicant)
Guarantee	Personal guarantee of one confirmed employee.
Documents Required	1. KYC Documents - Identity proof and address proof 2. Latest salary slip OR certificate (with date of superannuation or document evidencing remaining period of service of the applicant) 3. Latest 6 months updated operating bank statement. 4. Proof of length of completed service 5. Undertaking from salary disbursing authority.

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