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