1. The employee should have a S.B. account in the branch from where the loan is proposed to be availed.
2. Salary of the employee should be routed through the S.B. account at the branch where the loan is sanctioned.
3. Undertaking letter from the employer undertaking to deduct from salary, loan installment every month and remit to bank to be produced.
4. Letter from the employer, undertaking to recover the dues from the terminal benefits of the employee in case of death, retirement or resignation to be produced.
Documents required :
Application form, Salary certificate of applicant and guarantor with deduction particulars, undertaking letter from employer to deduct monthly installment and recover the dues from terminal benefit in case of necessity.
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