Leverage your salary to the maximum with SVC
| Eligible Age |
21 years to 58 years |
| Type of Loan |
Overdraft |
| Purpose |
Any personal use |
| Limit |
75% of the average net salary for the last three consecutive months subject to Max. Limit Rs. 3.00 Lacs per individual |
| Security |
Company’s undertaking - to remit the salary |
| Collateral |
NIL |
| Guarantor |
One guarantor |
| Margin |
25% |
| Repayment |
Yearly renewal |
| Moratorium |
NA |
| Rate of Interest & Processing Fees |
As applicable from time to time |
| Prerequisites / Documents |
- Minimum service of 2 years
- Company/Organization where the individual is working should give an undertaking that the entire salary shall be remitted to the Bank and prior permission of the Bank will be required before changing the salary instructions.
- Undertaking from the Company/Organization that, in case of the borrower being terminated from the company/organization the outstanding dues will be adjusted from the termination benefits payable to the Employee by the Employer.
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