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Home > Loans & Advances > Surety Loans
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Surety Loans

A quick and simple loan, it is one easy step away from fulfilling your personal commitments. Meant for individuals having regular source of monthly income especially salaried persons, the employees under Public / Private / Corporate sector and those who receive regular rental income, this loan is provided against the personal surety or guarantee of individuals fulfilling the Bank norms.

  Eligibility
Salaried Persons : Should be permanent employees of any organization with minimum service of 5 years having PF deduction and ESI facility / gratuity, etc.
  Purpose
For any personal need including consumption and household purposes such as purchase of computers, purchase of consumer durables, education of children, meeting medical expenses, etc.
  Quantum of Loan
Salaried Persons: 8 times of Net Salary (last 3 months average) up to a maximum of Rs. 3,00,000/- per individual borrower.
Others: 8 times of their monthly net income after all taxes (such as rental income, interest of long term deposits, etc.) up to a maximum of Rs. 3,00,000/-.
  Repayment
Maximum period of 60 months or as per sanction terms and conditions in equated monthly installments.
  Security
Undertaking from the employer of the borrower for deducting Loan installments directly from salary/ terminal benefits.
PDCs on borrower’s salary account
Two acceptable guarantors / sureties
Pledge of savings certificates like NSE, Postal Savings Certificates or assignment of insurance policies
Lease agreement copies, Property documents, rental deposit/ advance paid receipts etc.
  Documents Required
Salaried Employees: 3 months salary certificate or pay slips duly certified by the Company and a certificate stating that borrower is a permanent employee and providing the date of joining, designation, etc.
Others: Income Tax returns, proof of owning properties from which they are receiving regular income, lease agreements, municipal tax receipts, etc.

 
 
The Adarsh Co-Operative Urban Bank Ltd
MPR. Complex, Phase 1, IDA, Jeedimetala , Hyderabad, R.R. Dist., Telangana. Ph : 040-48681111, 23191851, 23191852. Fax : 040-23098833