|
Eligibility |
Permanent
Employees
of Govt., Semi-Govt., Autonomous, Semi
Autonomous, Local & other bodies who
are maintaining their Salary A/Cs at NBP.
|
|
Repayment |
Direct deduction from Salary
A/C |
|
Maximum Loan Amount |
Rs. 490,000/- |
|
Security |
Employer
will provide undertaking that
borrower’s Salary and end of service
benefits will route through his/her
Salary A/C maintained at NBP during
the tenure of the loan and his/her end
of service benefits are at least equal
to the amount of Advance Salary required.
Hypothecation
of Consumer durables owned by the borrower.
Three (3) Undated Cheques
|
|
Max.
Repayment Period |
5
years (60 months) |
|
Advance
in terms of # of net take home salaries |
Up
to 20 net take home salaries |
|
Markup
Rate |
15
% *
(Based on diminishing balance method) |
|
Processing
Fee |
1%
of Loan Amount |
| Verification
Charges |
Rs
500/- |
|
Life
Insurance |
No
Insurance of any kind. |
|
Documentation
Charges |
at
actual |
|
Contact |
Your
Salary disbursing NBP Branch. |
|
Remaining Service
Age |
At
the time of approval and disbursement
the applicant’s remaining service age
should be 6 months after maturity of the
loan |
|
Debt
Burden |
50%
|
|
Minimum
net take home salary |
no
minimum take home requirement |
