APNA Bank
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Salaried Employee Loan
LOAN AGAINST SALARY
Purpose To support your financial requirement for House Renovation , school education, marriage, repayment of outside loan, medical expenses etc.
Who can Avail this Loan A salaried employee, whose employer gives in writing that the loan instalments will be deducted every month from the employee’s salary and remit it to the Bank till the time the loan is full-paid.
Loan Features

Maximum Limit: Rs.7 Lakhs
Repayment Period : Maximum 60 to 84 equated monthly instalments
Eligibility: a. Deduction letter from the employer
b. Minimum 5 years (Permanent) service

Repayment Capacity : 1/4th take home salary after deduction of loan instalment (All Loans)
Collateral Security : a. L.I.C
b. N.S.C
c. Kisan Vikas Patra
d. Fixed Deposit. Recurring Dep.
Rate of Interest 11.50%
Documents required
  • Duly filled Loan form
  • Account Statement / Passbook for verification
  • Other Bank account statement if any
  • One Photograph of Borrower & Guarantors
  • current 3 months payslips of salary earner, form no 16 of last year
  • Ration card of borrower and Guarantors
  • Aadhar card of borrower and Guarantors
  • Electricity Bill of borrower and Guarantors
  • Membership – Borrower and guarantor
  • NOC letter from Credit Society of employer, if he is a member of any credit society
  • Letter from employer to deduct the instalment from salary of the employee and remit it to the Bank.
  • CIBIL Report
Charges
  • All the charges applicable as per Bank Policy
  • Shares of 2.5% of Loan sanction amount for Borrower & Rs. 2000/- for each Guarantor in case Loan amount greater than 1 lakh.
Positive Points
  • Quick Disbursal
  • No Pre-payment charges
  • Daily reducing balance
  • Repayment in addition to fixed instalment can be made without any charges