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Corporate Salary Loan

 
 

With a fixed monthly income, salaried individuals may enjoy personal loans against undertaking of employers to deduct monthly instalments from salary.  Typically, employers are larger Corporates who make arrangements with the Bank to support their employees with such personal loans.  

Features

Repayment period up to 3 years. Repayable on monthly installments . Maximum Loan amount MMK 10 Mn.

 

 

  • Eligibility

 Permanent employees  with minimum completed 2 years of service in the following  institutions

a) Government  / Semi Govt  institutions

b) Central Bank and other  Banks  in Myanmar

c) JV  companies  /  Foreign Companies

d) Other  reputed  Myanmar  companies 

e) Government  schools/colleges

f) Reputed  private  schools /colleges

  • Security

Undertaking  of employer  to deduct salary and pay to bank . Employer should request for salary loan scheme for their staff and excecute necessary agreements .

 

Documents Required at the time of Application

1) Loan  application for  salary loan, duly approved and recommended by the employer.

2)  KYC documents  of borrower & Guarantors

3) Salary  certificate / Certificate  from  employer

4) Undertaking from employer for deduction of salary and other benefits

 

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