Pay Deduction Loan
Our Pay Deduction Loan is specially designed for salaried employees whose salary is regularly credited through bank or institution. The loan amount will be recovered through monthly salary deduction, making repayment simple and secure. This facility helps employees meet personal, medical, educational or family expenses with easy processing and convenient repayment options.
Purpose
For personal, medical, educational, family or other genuine financial requirements.
Eligibility
Salaried employees having regular income with salary deduction facility acceptable to the bank.
Loan Amount
Loan amount will be sanctioned based on salary and repayment capacity as per bank rules.
Maximum Period
Repayment period will be fixed by the bank depending on salary and loan scheme.
Security
Salary deduction undertaking from employer or acceptable surety as per bank rules.
Interest Rate
12.00% per annum
Note: “The sanctioned loan amount and interest rate are subject to terms and conditions.”
