Insta Loan

This loan is a Personal Loan proposed primarily for the permanent employees of reputed companies / Schools / Govt Institutions etc., for meeting out employee's & their dependents' expenses like medical, education, housing, etc.,

Features and Benefits
  • This is an installment loan.
  • It is for permanent employees with a minimum confirmed service of 2 years and an unexpired service of 1 year, who are non-defaulters of any other bank or FI.
  • Undertaking letter from the competent pay disbursing authority must be available.
Charges and Limits
Margin NA
Maximum Repayment Tenor 72 Months - EMI or remaining service period whichever is lower.
Primary Security Demand Promissory note
Collateral Security NIL
Guarantee Personal guarantees from different employees to be obtained.
Processing Charges 0.50% of the loan amount subject to a minimum of Rs. 1,000/- + GST.
Documentation Charges Nil
Other Terms & Conditions
  • The Net Take Home pay after deducting the proposed Loan Installments shall be at least 25% of gross pay.
  • Availability of financials of Corporate/ Firms/ Trusts etc., and ensuring that they are in existence and profit making for the last three years.
  • Branches shall verify creditworthiness, integrity, local standing and repayment capacity of the borrower before entertaining the proposals under the scheme.
  • Undertaking Letter from the competent pay disbursing authority must be available.
  • Temporary employees are not eligible for this facility.
  • Outstanding dues from terminal benefits of the borrower or guarantor in case of their resignation, retirement, voluntary retirement or dismissal from service.
Interest Rate

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