Salaried Parson

Personal Loan to Salary Earners

Parameter	Details
Loan Limit	Subject to take home salary 33.33 % of gross salary
Repayment	Repayment period will be maximum 7 Years
Rate of Interest	10% - 12% p.a.
Interest Calculation	Interest calculation on daily reducing balance.
Purpose	To meet Educational, Medical or any other personal requirement.
Security	Hamipatra from Authorized person for monthly deduction of EMI from Salary.
Guarantors	Min Two Guarantors acceptable to bank from same Institution.
Shares Contribution	Main Share of Rs.5025/- + Additional shares of 2.5% of loan amount.
Processing Fees	1% of loan amount + applicable G.S.T.
Stationery Charges	Upto 1 Lakh Rs. 100 + applicable G.S.T. More than 1 Lakh Rs. 200 + applicable G.S.T.
Franking Charges	As applicable
Condition	Minimum 1 year confirmed service is done.
Insurance	Accidental Insurance Cover of Borrower as per bank’s policy.
Other Conditions	Any other documents as required by the bank at later stage.

Documents Required:

Loan application
PAN Card, Address Proof, latest Photograph, of the Applicant and Guarantors.
Applicant & Guarantor: Salary slip of last 3 months, Bank a/c statement for last 6 months where salary is credited, Form No 16 / ITR for last 3 financial year, Confirmation Order.