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  • Dairy Loans

  • Agricultural Loans

    We offer term loans for buying cattle, purchase of equipment for irrigation and other agricultural requirements.

  • Vehicle Loans

    This festive season, get the vehicle loan at lowest EMI of just Rs 2138/- per lac.

  • Home Loans

    Avail the 15 year term loan facility with lowest EMI Rs 1090/- per lac and no hidden cost.

FAQs >> Loans >> Employee Loans
Description

 

FAQs on Personal Loan

1 .Who can apply for this loan?

Any salaried employee of Punjab Govt./ Semi Govt., Boards, Corporations and PSU who have completed one year after their confirmation/ regularisation. They should not defaulter of any other bank loan.

2. What is the minimum or maximum age for getting loan?

An eligible person between the ages of 21 yrs. To 57 yrs.

3. How much loan I can get?

Equal to 15 months gross salary or RS. 4.00 Lacs whichever is less.

4.  Where can I utilize this loan amount?

The loan can be utilized to meet the social needs and other domestic needs.

5.  In how much time I can repay this loan?

The loan can be repaid within 24 Months, 36 Months, 48 Months, 60 Months, 72 Months, 84 Months as the case may be.

6.  Can I prepay this loan?

Yes, loan can be prepaid without any prepayment charges.

7.  What would be the Rate of Interest for this loan?

15% p.a. or as contracted at the time of advancement on reducing balance.

8.  Will there be any Charges?

Yes, Processing Fee RS. 500/-- will be charged before disbursement

9.  What would be the documents required for this loan?

Salary Certificate from competent authority.

ID Proof, Residential Proof, ITR/Form no. 16, Salary A/c Statement.

10.  Will there be any Collateral Security Required?

No collateral security is required, But 2 Guarantors are required to stand as Surety for repayment of this loan.

 

Description

 

FAQs on Consumer Loan

1.  Who can apply for this loan?

Any salaried employee of Punjab Govt./ Semi Govt., Boards, Corporations and PSU who have completed one year after their confirmation/ regularisation. They should not defaulter of any other bank loan.

2.  What is the minimum or maximum age for getting loan?

An eligible person between the age of 21 yrs. To 57 yrs.

3.  How much loan I can get?

Equal to 10 months gross salary or RS. 2.00 Lacs whichever is less.

4.  Where can I utilize this loan amount?

The loan can be utilized to meet the social needs and other domestic needs.

5.  In how much time I can repay this loan?

The loan can be repaid within 24 Months, 36 Months, 48 Months, 60 Months as the case may be.

6.  Can I prepay this loan?

Yes, loan can be prepaid without any prepayment charges.

7.  What would be the Rate of Interest for this loan?

15% p.a. or as contracted at the time of advancement on reducing balance.

8.  Will there be any Charges?

Yes, Processing Fee RS. 500/-- will be charged before disbursement

9.  What would be the documents required for this loan?

Salary Certificate from competent authority.

ID Proof, Residential Proof, ITR/Form no. 16, Salary A/c Statement.

10.  Will there be any Collateral Security Required?

No collateral security is required, But 2 Guarantors are required to stand as Surety for repayment of this loan.

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