| 1 |
Eligible persons |
Permanent employees of the State / Central Government / Quasi-Government or Public Sector Undertakings and Government approved / aided educational institutions.. |
| 2 |
Age |
Above 18 years. |
| 3 |
Loan Amount. |
Four Times of Gross Salary / 75% of Bill Value whichever is less. Maximum Loan Rs. 40000/- |
| 4 |
Loan Term |
36 Months. |
| 5 |
Rate of interest |
11% Interest charged on monthly reducing basis. |
| 6 |
Documents Required. |
Completed Loan Application |
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Applicant should be employed with in the area of operation of the bank. |
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Two personal securities – Employee of the same organization – acceptable to bank as guarantor. |
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Identity Card Issued by the employer. |
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Letter of undertaking from the Pay Drawing Officer. |
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Residential and Identification Proof. |
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Last month pay slip. |
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Quotation from the approved Vendor. |
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Insurance for the product purchased. |
