The Salaried Workers Loan is designed exclusively for customers who receive their salaries through the Bank. This facility provides quick access to funds for personal, family, or emergency needs with flexible repayment terms.
Eligibility & Requirements:
- Customer must receive a salary through the Bank.
- Employer must undertake to pay salary directly to UMKCB.
- Minimum of two (2) salaried workers as guarantors.
- Pensioners, casual staff, and private institution workers have unique terms.
Loan Features:
- Repayment up to 48 months (12 months for pensioners and casual staff).
- Interest is charged per annum using the straight-line method.
- Competitive rates based on prevailing bank policies.
Why Choose This Loan:
- Fast processing time
- Predictable monthly installments
- Designed to support everyday financial needs