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Salary Gain Scheme

ParameterDetails
FacilityOverdraft in Saving Account.
Eligibility
  • Salary account holders with the bank’s branch
  • The customer should be in permanent employment with total minimum 1 year of Service, with Corporate concern of repute, Central Government / State Govt. Department / undertakings (including Government and Government Aided Educational Institutions) /Co-operative Societies.
Minimum Annual IncomeMinimum Take Home salary of the applicant should be Rs.25000/-p.m. (average of last 3 months’ salary credited in the account)
PurposeTo meet personal needs of the customers who are salary earners.
Loan Quantum3 times of monthly take home salary or Rs. 3.00 lakh, whichever is lower
ROIClick here to view the Interest Rate
DeductionShould not exceed 60% of gross monthly salary
SecurityClean
Processing fee0.50% of the OD Amount per annum, subject to minimum Rs. 500/- p.a.
Others
  • Eligible amount to be decided on the basis of last 3 months take home salary, repayment obligations, Regular credit of salary.
  • In case of change in take home pay existing limit can be adjusted.
  • Interest on credit balance if limit is not availed. Interest on debit balance be charged on monthly basis.
  • An irrevocable written mandate by borrower to employer to route all payments/salary & allowances due to him including terminal benefits through the account maintained with the bank, and a confirmation from the employer that the mandate shall be complied with.