To offer an attractive Saving Fund Account to salaried employees for enabling them to have their salary credited as well as availingOverdraft facility.
Permanent employee of an organization, public or private, and is in a current job for more than a year whose salary is being credited in the bank
Rs. 0/-
The overdraft limit under the scheme shall be Rs 50000/- or the last salary credited in the account whichever is lower ,at interest rates applicable to personal loans which is @13.25% p.a( subject to revision time to time). The overdraft is adjustable any time during thenext six monthssalary(ies) or in bullet repayment , if desired by the account holder.
The employees who want to avail overdraft facility or any other loan (i.e. Housing loan, Car loan, and Personal loan) ,the HR of the organisation has to give an undertaking that they would not settle the terminal dues of the employees leaving the job without obtaining priorNo Objection Certificate from the branch . This is a must condition for availing any credit facility from Bank.
