Corporate Personal Loan for your most of the needs.
Eligibility for Corporate Personal Loan:
- You must be Permanent employees of large corporate Clients. You can avail this loan only as Demand Loan.
Also Read : HDFC Personal Loan
Loan Amount Eligibility:
You may get a Personal Loan equal to 20 times of gross salary upto maximum of Rs.500,000/- . Minimum net take home pay of 40% of gross salary will be left for your bread and butter. And from the remaining 60% of your gross salary after all deductions will decide your eligible loan amount. Deductions like LIC Premium, Fees for your kids, your house rent, etc.
Security or Terms & Conditions:
- Your salary needs to be routed through Salary account maintained with the branch.
- You cannot transfer your salary account to another bank during loan tenure. For that you must give an irrevocable undertaking. Such undertaking should be acknowledged by the employer.
- You must submit an authority Letter to debit the salary account for monthly installments.
- In case the salary is not routed through the Branch, you must submit the following undertaking for sanction of loan;
- Irrevocable undertaking from the employer to deduct EMIs from your salary. And, pay the same directly to the Bank, till full adjustment of loan amount.
- Undertaking should cover deductions not only from your salary but also from bonus / ex-gratia payment / terminal dues in case of retirement, death, cessation of service for any other reason and any other dues from the employer.
Read : SBI Personal Loans
- You can repay the loan in maximum 36 Months.
- No prepayment charges.
- MCLR +3.50%. Please check the latest rate from the bank.
- 500/- + taxes per Loan
Other Terms & Conditions for Companies:
Your company’s Net worth and profits are main points which will be taken into consideration. And, if everything goes as per bank’s norm, then you will get a personal loans.
Also Read: Non-Corporate Personal Loan
For further details please contact the Bank.