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Whats New

  • RBI grants Authorised Dealer – category II for retail forex license to Apna bank
  • BSI certifies Apna Bank with the upgraded ISO 27001:2013 cerification for information Security
Salaried Employee Loan

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

Repayment Capacity : 1/4th take home salary after deduction of loan instalment
Collateral Security : a. L.I.C
b. N.S.C
c. Kisan Vikas Patra
d. Fixed Deposit. Recurring Dep.

Rate of Interest 14%
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 if 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
  • (point 6,7,8 bring originals for verification)
  • Nominal membership – Borrower and guarantor
  • NOC letter from Credit Society of employer, if he is a member of the credit society
  • Letter from employer to deduct the instalment from salary of the employee and remit it to the Bank.
  • Service Charges 0.50% for Loan upto 1 lakh
  • Service Charges 1.0% for loan above 1lakh
  • Franking – Maximum Rs.400/-
  • Visit Charges – Rs.100/-
  • Shares – Rs. 1000/- each for Borrower & Guarantor in case Loan amount greater than 1 lakh.
Positive Points
  • Quick Disbursal
  • No Pre-payment charges
  • Fixed rate of Interest
  • Daily reducing balance
  • Repayment in addition to fixed instalment can be made without any charges