1. Personal Expense/ Takeover of loans


  1. Group of minimum 10 employees.
  2. Permanent employees working with reputed Public/ Pvt organization or any other employer approved by SBU Retail, with minimum two years of service in the same organization.
  3. Minimum take home salary more than Rs.10,000/- p.m.

Limits of Loans:

  1. Maximum loan up to Rs.5.00 Lakh per individual

Basis of Advance:

1) 100% of the cost
2) 15 times of net salary where salary is above Rs.12000 up to Rs. 25000/-
    20 times of net salary (Net Salary above Rs. 25000/-)

1 or 2 whichever is less

Repayment Period:

  1. Maximum 60 months to be extended up to 84 months only on case to case basis

Rate of Interest (Fixed):

  1. Fixed @10.00% p.a. (salary account with Saraswat Bank)
  2. Fixed @12.50% p.a. (general customers)


  1. Hypothecation of consumer durables/ articles purchased
  2. Two guarantors from the same organization
  3. Repayment under Sec 60 of the MSCS Act 2002 or salary account with our bank or recovery of EMI through Salary deduction.

Processing Fees:

  1. Rs. 1000/-  irrespective of the loan amount

(No other charges such as CIBIL/ other credit agency, FI & CERSAI.)


  1. 2.5% of the loan amount, max Rs. 25000/-

Documents Required:

  1. Duly filled prescribed application form
  2. KYC documents of the applicant and guarantor such as residence proof, identity proof, and latest photograph
  3. Salary slips for last 3 months and Bank statement for last 3 months or Form No.16 of last two years of the Applicant.
  4. Certification from Employer confirming the list of employees availing loan and details provided by the applicant.