Scheme Gallery EMI Calculator Rate of Interest
Personal Loan to the Govt. Servants

Personal Loan to the Govt. Servants :

The PSC Bank is extending Personal Loan to the Government Servants who are working in various Departments of the U.T. of Puducherry to the extent of Rs.10.00 lakh OR 15 times of the gross salary, whichever is less, this type of loan is not extended to the servants who are working in the Quasi-Government/undertaking institutions, on the basis of the Government Sureties, for the purchase of consumer durable/domestic appliances/repayment of old debts, celebrating Marriage, higher education, family medical expenses, etc.


The customer shall remit 100/- to obtain Loan application from the Bank.
The customer should remit entrance fee of 5/- and enroll as ā€œCā€ Class.
Member should obtain shares of 100/- @ 10/- per share, if the loan amount applied for above 1.00 lakh. If the loan amount below 1.00 lakh 50 shares @ 10/- per share i.e. 500/-
Recently taken Passport size photographs ā€“ 2 Nos.
Copy of Family Ration Card ā€“ 1 No. with self-attestation (both for applicant & Sureties).
Copy of Aadhaar Card -1 No. with self-attestation. (both for applicant & Sureties).
Copy of Identity card issued by the Elections Department (both for applicant & Sureties).
The applicant is working in any of the Government Departments should be on permanent basis and completed atleast 2 years of regular service
Recently issued Pay Certificate by the Pay Drawing Officer of the Department concerned.
The total recovery inclusive of the proposed loan installment does not exceed 75% of the total pay.
The applicant/surety should not have any overdue outstanding with any Co-operative Society including the Co-op. Urban Bank, Co-op. Land Development Bank & concerned Department Staff Co-op. Credit Society.
The applicant should submit necessary NOC issued by other Financing Co-operative Societies at the time of availing loan.
The applicant should produce Surety who is also working in the Government Department.
This loan will bear the interest @ 13% per annum.
The loan amount will be repayable in 36 equal monthly installments if the loan amount is upto Rs.1,50,000/-. If the loan amount exceeds Rs1,50,000/- the repayment period will be 60 equal monthly installments along with the Interest.
The Employer should given irrecoverable undertaking to deduct the installments as demanded by the Bank from the salary of the applicant/surety every month and to remit the same to the Bank within 10 days from the date of disbursement of the salary.
The applicant should remit a sum of Rs.250/- as Processing Fee and should invest a minimum of Rs.1000/- in the term deposit account for the loan period.