Corporate Salary Loan
Hassle free personal loans for salaried individuals, against undertaking of reputed employer to deduct monthly installments from salary and pay to the bank. Typically, employers are large corporates who make an arrangements with the bank to support their employees with such personal loans.
Repayment period up to 3 years. Repayable on monthly installments. Maximum Loan amount MMK 10 million.
Permanent employees with minimum 2 years of service in the following institutions:
a) Government / Semi-Government institutions
b) Central Bank and other Banks in Myanmar
c) JV Companies / Foreign Companies
d) Other reputed companies in Myanmar
e) Government schools/colleges
f) Reputed private schools /college
a) Government / Semi-Government institutions
b) Central Bank and other Banks in Myanmar
c) JV Companies / Foreign Companies
d) Other reputed companies in Myanmar
e) Government schools/colleges
f) Reputed private schools /college
a) Consent letter from Employer for approving salary loans to their employees under this program
b) Guarantee from another two employees in the same grade or higher
c) Loan application for salary loan, duly approved and recommended by the employer.
d) KYC documents of borrower & Guarantors
e) Salary certificate / Certificate from employer
f) Undertaking from employer for deduction of salary and other benefits
b) Guarantee from another two employees in the same grade or higher
c) Loan application for salary loan, duly approved and recommended by the employer.
d) KYC documents of borrower & Guarantors
e) Salary certificate / Certificate from employer
f) Undertaking from employer for deduction of salary and other benefits
| Interest rate | 14.50% p.a |
|---|---|
| Early Repayment fees | 3.00% on prepaid amount ( if paid during the first 2 years of loan period ) |
| 2.00% on prepaid amount ( if paid during the third year of loan period ) | |
| 1.00% on prepaid amount ( if paid after 3 years of loan period ) |