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Retail Lending Department, 5th Floor, 21 Rajendra Place, New Delhi-110 008
Tel No. :011-25716351 /Fax:011- 25727956 - E-mail: ho.retail-mktg@psb.co.in
34 /2014
29.12.2014
.... / Circular no.
/Date:
/Code No. of the Department
H-9014
(e) The BMs have been given discretionary powers (as per clause 11 of this circular) to
sanction loan under the present scheme. The respective BMs would determine and
confirm eligibility, as above,
of the staff whose loan therefore
falls in their
discretionary powers, and place a certificate to the effect in the loan file of the borrower.
(f) Similarly, the Chief Managers of the ZOs & HO would determine and confirm eligibility,
as above, of the staff under their control, and issue certificate to the effect that would be
placed in the loan file of the borrower at the loan sanctioning branch.
(g) The Chief Manager of respective Zones would determine and confirm eligibility, as
above, of the BMs of their Zone, and issue certificate to the effect that would be placed in
the loan file of the borrower at the loan sanctioning branch.
3) Interest rate:
BR + 0.75%, with minimum of 11%
4) Security
5) Guarantee :
Personal
Nil
6) Quantum of Finance: For officers- Rs. 1.50 lac for service of 6 months and above.
For Clerical - Rs. 1.00 lac for service of 6 months and above.
7) Repayment:
Maximum repayment period of three years. If in the meantime the officer/ clerk becomes
eligible for the Staff Clean OD, he/ she can exercise the option by adjusting the present
Term loan by debit to the Clean OD sanctioned to him as per Banks scheme and employees
eligibility. Otherwise, the term loan would be adjusted in due course.
7) Documents:
8) Documentation Charges:
Actual charges.
9) Review of facility:
Every year.
NA
Chief Manager