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Surety Loan

This is among the most utilized loan scheme that can be used for any purpose like buying household appliances, marriage at home, to meet any family expenses / emergency. The loan is offered with minimum of conditions and has been designed with a common man’s need in mind. The documentation is simple and processing is fast.


  • To purchase consumer durables / house-hold articles, to meet the marriage expenses, other family expenses, etc.
  • Permanent employees, aged below 60 years.
  • Regular / Associate member any customer with regular transaction in Bank.
Repayment Period
  • Maximum of 36 EMI, while fixing repayment, take home salary of the employee, the remaining period of service, etc., will be taken into account so as to ensure that the loan amount is recovered within the period of service of the applicant.
Penal Interest
  • Any irregularity or default in repayment will attract penal interest of 2.00% p.a. over and above the above rate of interest on the balance outstanding.
Processing Fees
  • 1.00% of Limit sanctioned without any maximum cap.
Loan Quantum
  • If the employer deducts and remits the installment amount every month or the installment is deducted from the salary account maintained by the Branch – as per latest salary bill with a maximum of Rs. 1,00,000.
Interest Calculation Method
  • Reduced Balance method
Basis Of Advance
  • Domestic purpose : Maximum 50,000
  • Salaried Undertaking : Maximum 1,00,000
  • Guarantee: If the employer does not undertake to deduct and remit the instalment or the instalment is not deducted from the salary account maintained by the branch.
  • Deposit in the bank and 2 surety .
  • Salary undertaking Share 5% of loan.
  • Simple documents as per our Bank Norms