Personal Loan
Max Loan (Undertaking)
₹ 2,00,000
Max Loan (PDC)
₹ 1,00,000
Loan Period
36 Months
Interest Rate
As per Board Decision
Eligibility
Advances granted to salaried employees who have entered into arrangements with the employer for recovery of loan instalments through deductions out of salary.
Employers who have not given any undertaking — borrower must submit Post-Dated Cheques (PDC) of the bank where their salary is deposited.
Quantum of Loan
Salary Undertaking
Up to ₹ 2,00,000
Post-Dated Cheques (PDC)
Up to ₹ 1,00,000
Period of Loan & Repayment
Loan Tenure
36
Mode
Instalments (EMI)
Interest Rate
As decided by Bank Board from time to time
Current applicable rate will be communicated at the time of loan processing. Please contact your nearest branch for the latest rate.
Loan at a Glance
With Salary Undertaking
₹ 2,00,000
Employer deducts & remits EMI
With PDC
₹ 1,00,000
Borrower submits post-dated cheques
Eligible Applicants
Salaried Employees only
Tenure
36 months
Repayment Mode
Salary deduction or PDC
Interest Rate
Per Board decision (floating)
PDC Bank
Where salary is deposited
Salary Undertaking
A written undertaking from the employer to deduct and remit EMIs directly to the Bank enables a higher loan limit of ₹2,00,000.
PDC Requirement
Post-dated cheques must be of the same bank where salary is deposited. Cheques of a different bank are not acceptable.