Overdraft  Facility for Salary Earner (ODFSE)

Eligibility Permanent Employees of Govt , Semi Govt , MNC, PSU, Organization having their  accounts with the  Bank for the last 6 months .   Purpose Personal need   Overdraft Limit Rs  50,000/- or  2 times of net take Home  Salary (i.e after deducting 1/3rd salary as per Banks policy) whichever is lower. Margin 1/3rd salary as per Banks policy.   Interest rate 18 %  p.a   Repayment Yearly review   Age Min 22 years to Max 55 years.   Security Nil (Unsecured Loan)   Share linkage 1 % of sanctioned limit    Guarantors 2 guarantors acceptable to Bank   Process Charges 0.50 %  of sanction limit   Sector Non Priority   Other requirement Applicant should be in permanent   employment. Pre sanction visit of Residence &Work place. Applicant CIBIL report should be clean without any remark like Overdues , Written off etc .