JS Smart

JS Elite Salary Loan

JS Elite Loan offers convenient financing facility against your salary, enabling you to meet short term goals. Avail financing up to 4 gross salaries up to maximum 2 Million for a much-needed family vacation or for home renovation!

Product 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.

Variants of Gross Salary:

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.

Eligibility Criteria:

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/-