At Gadchiroli District Bank, We understand the financial needs and aspirations of salaried employees like you. Our Salaried Employees Loan is specifically designed to provide you with the necessary funds to meet your personal requirements, whether it’s renovating your home, planning a wedding, consolidating your debts, or addressing any other financial goals you may have.
| Sr. No. | Loan Scheme | Loan Limit | Loan repayment period | Interest Rate |
|---|---|---|---|---|
| 1 | Personal Overdraft Loan Policy | ₹ 10.00 Lakhs | 1 year | 11.00% |
| 2 | Instant loan facility for salaried employees through bank | ₹ 2.00 Lakhs | 1 year | 11.00% |
| 3 | Loan policy for the purchase of various luxury items for salaried employees through the bank | ₹ 2.00 Lakhs | 5 years | 10.50% |
| 4 | Direct medium term loan for salaried Anganwadi workers and helpers through Bank | Anganwadi worker ₹ 1.00 Lakh and Helper ₹ 0.50 Lakh | 2 to 5 years | 11.00% |
| Sr. No. | Loan Scheme | Links |
|---|---|---|
| 1 | Personal Overdraft Loan Policy | Click Here |
| 2 | Instant loan facility for salaried employees through bank | Click Here |
| 3 | Loan policy for the purchase of various luxury items for salaried employees through the bank | Click Here |
| 4 | Direct medium term loan for salaried Anganwadi workers and helpers through Bank | Click Here |
At Gadchiroli District Bank, We understand the financial needs and aspirations of salaried employees like you. Our Salaried Employees Loan is specifically designed to provide you with the necessary funds to meet your personal requirements, whether it’s renovating your home, planning a wedding, consolidating your debts, or addressing any other financial goals you may have.
Near ST Bus Stand, Dhanora Road, Gadchiroli Taluka, Gadchiroli District, Gadchiroli.
For RTGS/NEFT Assistance
07132-232050
For ATM Card Assistance
07132-233571
Missed Call Balance Enquiry
09289201111
For Mobile Banking
07132-233571
The Gadchiroli DCC Bank Pvt. Ltd.
Register with DICGC
| Eligibility | Required documents | Terms and Conditions |
|---|---|---|
| Government and semi-government employees receiving regular salary through the bank | • Loan Demand Application | • Applicant’s monthly salary should be regular through your bank. |
| • Aadhaar Card/PAN Card and updated photograph of applicant, co-applicant and guarantor | • The applicant should be continuous in the service and should have completed at least 2 consecutive years of service since joining the service. | |
| • Nominal membership fee (applicant, co-applicant and guarantor) | • Applicant’s CIBIL score should be above 700. | |
| • 1 guarantor who retires after the applicant has to be taken and a surety bond on stamp paper of ₹100/- from them. | • According to the Documents Act, every 3 years all the documents in the said loan file will be taken afresh. | |
| • The agreement has to be written on a stamp paper of ₹100/-. | • Renewal of loan amount will be done on 31st January every year. | |
| • The member will be required to provide a no-due certificate of his employee cooperative credit institution. | • If the overdraft borrower has 10 years of service remaining, the loan limit will be reduced from the sanctioned limit in equal installments till the date of retirement. | |
| • Regular/irregular loan default certificate of Employees Co-operative Credit Institution. | • The monthly salary or any amount received by the member has to be deposited in his bank account. | |
| • 30 times of net salary after deductions from applicant’s 6 months salary or a maximum of ₹10.00 lakhs will be eligible as Over Draft loan limit. | ||
| • A salaried employee who has completed 2 years of regular service after completing the probationary period. Such employee will be eligible for overdraft loan limit sanction up to ₹ 2.00 lakh. | ||
| • Salaried employees who have completed 6 years of regular service after completion of probationary period and employees who remaining service is at least 6 years will be eligible for overdraft loan limit up to ₹ 10.00 lakh. | ||
| • Overdraft facility up to ₹ 5.00 lakh will be available to employees of schools working on 40 percent subsidy or more in the district. | ||
| • Overdraft loan facility of ₹ 2.00 lakh will be maintained for school employees working on subsidy of 20 percent or more in the district. | ||
| • The loan will be sanctioned except for 30 percent of the applicant’s gross salary for livelihood. | ||
| • Additional penalty interest will be charged at the rate of 1 percent on overdue loans. | ||
| • Interest will be charged monthly. | ||
| • The bank reserves the right to modify, relax and increase the terms and conditions of the loan. |
| Eligibility | Required documents | Terms and Conditions |
|---|---|---|
| Government and semi-government employees receiving regular salary through the bank | • The loan application form will be applicable only to the employees having a savings account with salary through the bank. (This facility will not be applicable for employees who have this loan facility.) | • Applicable to employees with regular/permanent service as well as their remaining 3 years of service. |
| • Aadhaar Card/PAN Card and updated photograph of applicant and co-applicant | • 4 times the average amount of the employee’s net salary for the last 3 months or a maximum of ₹ 2.00 lakh will be eligible for loan sanction. | |
| • Nominal membership fee (applicant and co-applicant) | • Renewal of loan amount will be done on 31st January every year. | |
| • When the member has 3 years of service remaining, the sanctioned limit will be deducted in equal installments till the date of retirement. | ||
| • Additional penalty interest will be charged at the rate of 1 percent on overdue loans. The interest charged will be debited to the savings account. | ||
| • Out of the sanctioned loan amount, monthly interest will be charged only on the borrowed amount. | ||
| • The employees who have been sanctioned under the said loan scheme will be allowed to take or repay the loan as per their requirement. | ||
| • The bank reserves the right to modify, relax and increase the terms and conditions of the loan. |
| Eligibility | Required documents | Terms and Conditions |
|---|---|---|
| Salaried | • Bank’s prescribed loan demand application | • Salaried employees can participate in this scheme. |
| • Aadhaar Card/PAN Card and updated photograph of applicant, co-applicant and guarantor | • The interest will be charged as per the daily product on lump sum repayment of the loan by the applicant. | |
| • Nominal membership fee (applicant, co-applicant and guarantor) | • The material amount will be paid to the seller through RTGS/NEFT/DD. | |
| • Authorized dealer quotation | • After purchasing the goods, the bills of the goods have to be submitted to the bank within 15 days | |
| • Consent letter on stamp paper of ₹100/- for recovery of mutual amount from salary | • Loan limit will be 10 times the gross salary or a maximum of ₹ 2.00 lakh | |
| • Additional penalty interest will be charged at the rate of 1 percent on overdue loans. | ||
| • Regular service should have been at least more than 1 year | ||
| • Must have at least 6 years of service remaining | ||
| • Applicant’s CIBIL score should be above 700 | ||
| • Branch Managers will retain the authority to approve loans for employees who are salaried through the bank, apart from the proposal of other salaried employees will have to be sent to the headquarters for approval. | ||
| • The bank reserves the right to modify, relax and increase the terms and conditions of the loan. |
| Eligibility | Required documents | Terms and Conditions |
|---|---|---|
| Anganwadi workers and helpers who are paid through the bank | • Loan Demand Application | • Applicant’s monthly salary should be regular through your bank. |
| • Aadhaar Card/PAN Card and updated photograph of applicant, co-applicant and guarantor | • The applicant should be continuous in the service and should have completed at least 2 consecutive years of service since joining the service. Also, there should be at least 6 years of service left before retirement. | |
| • Nominal membership fee (applicant, co-applicant and guarantor) | • 20 times of the total remuneration and a maximum of ₹1.00 lakh whichever is lower will be eligible for loan sanction. | |
| • Agreement/Guarantee on stamp paper of ₹100/- | • ₹1.00 lakh for anganwadi workers and ₹0.50 lakh for helpers will be eligible for loan sanction. | |
| • Additional penalty interest will be charged at the rate of 1 percent on overdue loans. | ||
| • The loan will be repaid in 60 monthly installments. | ||
| • The loan has to be cleared till the age of 60 years. | ||
| • The bank reserves the right to modify, relax and increase the terms and conditions of the loan. |
