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JS / Business / Employee Banking / JS Elite Salary Loan

Features

Processing Fees may vary as per updated Bank’s SOC

Repayment in equal monthly installments through direct debit authority

Financing Rs. 40,000 to Rs. 4 million, depending on gross monthly salary & loan tenure

Due Date 1st of every month or as per the salary date

Pre-Adjustment Pre/Partial adjustment facility subject to the penalty, as per approved Bank’s SOCs.

  • 4x Gross Salaries at a tenure of 36 Months
  • 3x Gross Salaries at a tenure of 24 – 35 Months
  • 2x Gross Salaries at a tenure of 12 – 23 Months

Markup – Two different Mark-Ups are offered with JS Elite Salary Loan

  • Facility A – Loan offered at 1-Year KIBOR + 6%, secured through the comfort letter and undertaking by the employee of corporate entity for lien-marking for their end service benefit
  • Facility B – Loan offered at 1-Year KIBOR + 10%, with up to 2 Post Dated Cheques as security equal to 6 EMI’S
  • Must have a JS Elite or JS Elite Plus salary account with JS Bank.
  • CNIC Holders between 21 and 60 years (at the time of maturity)
  • Must be permanent (currently employed for 12 months and 6 months confirmed employee)
  • Minimum monthly Gross salary of Rs. 40,000/-

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