1. Group of minimum 10 employees.
  2. Permanent employees working with reputed Public/ Pvt organization with minimum two years of experience in the same organization, preferably from higher cadre.
  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.10000 up to Rs. 25000/-
    20 times of net salary (Salary above Rs. 25000/-)

1) or 2) whichever is less

Repayment Period:

  1. Maximum 60 months

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. 500/- 


  1. As per extant shareholding norms

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 HRD confirming the list of employees availing loan and details provided by the applicant.