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Employee Loan

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Employee Loan
Type Code No. OF EMI Mode of Repayment Loan Amount EMI Amount [10,000] File Charges
Employee Loan EL 10 Monthly EMI should not exceed 25% of net salary 1160 [10000 25000] -500 Above 25000-2% [ MAXIMUM OF 2000]

Employee Loan Terms & Conditions

  • Emi will be deducted from salary starting from next month of loan disbursment date.
  • Guarantor must be senior of the employee.

General Terms & Conditions

  • One person can be guarantor in multiple loan subject to emi amount of all loans not exceeding his monthly income.
  • In case of default loans the guarantor will be liable for the recovery.
  • One person can apply for second loan after settlement of first loan.
  • Loan will be disbursed after deduction of file charges.
  • Person having un-settled loan cannot be a guarantor.
  • Any loan guaranted by this guarantor should not be default.
  • If any person applies for 2nd loan after sucessfully completing of 1st loan,No File Charge will be taken,only 2% Processing fee is applicable