Purpose – It is a simple personal loan to meet any genuine need of finance.
Eligibility – Confirmed employees of reputed PSUs, Limited Companies, Central / State Government Employees and Professors or Asst. Professors or Lecturers of College / Universities and Research Institutes having the latest net monthly salary (after all deductions) not less than Rs.10,000/-.
Quantum of loan – Maximum Rs.2,00,000/- (Individual), Rs.3,00,000/-(Group Loan with Salary deduction under sec 49 of MCS Act,1960 or Salary credit by way of ECS )
Tenure – 60 months (Individual), 84 months(Loan above 2,00,000 Lakhs)
Document – The personal loan borrower is expected to submit the following documents
- Salary Slip for the last 3 months
- Form No. 16 for last 3 years OR Income Tax Returns for last 3 years
- Bank Statement of Salary Account for the last 6 months
- Employer’s Certificate for period of service with details of designation etc. (Minimum 1 year permanent employment)
- Photograph and address proof and Identity Proof
- Details of the collateral security (in case salary deduction sec 49 of MCS Act,1960 is not available) – only of the applicant
- Two guarantors /sureties.