Salary Gain Scheme

Category

For Govt. / State /PSUs employee

Other than Govt. / State /PSU employees

Purpose of loan

To meet their day to day needs.

To meet their day to day needs.

Facility

Overdraft

Overdraft

Amount of OD

5 times of monthly take home salary subject to Maximum Loan amount of Rs 5.00 Lakh

3 times of monthly take home salary subject to Maximum Loan amount of Rs 5.00 Lakh

Age

Minimum - 21 Years

Maximum entry age should be three years before superannuation / retirement.

Minimum - 21 Years

Maximum entry age should be three years before superannuation / retirement.

Eligibility

The customer should be in permanent employment with total minimum 1 year of Service, with, Central Government / State Govt. Department / undertakings (including Government and Government Aided Educational Institutions).

The customer should be in permanent employment with total minimum 1 year of Service, Reputed Corporates/Public or Private  Limited Companies/MNCs *

*For the employees of Pvt. / Public Ltd. Company, maintaining salary accounts with the Bank, Such companies should have external rating (in force) of A and above from any RBI accredited rating agency.

Minimum Take home salary

Minimum Take Home salary of the applicant should be Rs.25000/-p.m.

Minimum Take Home salary of the applicant should be Rs.25000/-p.m.

Deduction Norms

Total deduction of the applicant including notional interest of the proposed OD facility should not exceed 65% of the Gross Monthly Salary.

Total deduction of the applicant including notional interest of the proposed OD facility should not exceed 60% of the Gross Monthly Salary.

ROI

1 Year RLLR + 3.15 %  

1 Year RLLR + 3.15%

Processing Fee

0.50% of the OD Amount per annum, subject to min. 500/- P.A

0.50% of the OD Amount per annum, subject to min. 500/- P.A