Product Details

Eligibility

Eligibility for Corporates to be on boarded under the CSP Scheme:
Requirement for Corporate Firm
  • For onboarding of Corporates under the package, the corporate will have to enter into an M.O.U that they shall open at least 15 accounts of their on-roll staff.
  • No corporate shall be entertained under this package whose employees strength is less than 15
  • Corporates which are under NPA category or under SMA 2 as on the date of signing of the M.O.U will not be eligible under the proposed package.Loan related incentives will only be provided to the employees of the corporate, if the corporate is not in SMA 2 and has not been under NPA Category in the last 90 days, as of the date of the loan application.
  • External rating wherever applicable should be on record
  • Internal rating of the corporate should be within the hurdle rate LC/SBS/SME 1 to 6 wherever applicable(Not in case of Corporate having a Current Account Only)

 

Eligibility for Employees of Corporates:
Requirement For Employee of The Corporate
  • A document mentioning the gross monthly salary of the employee of the corporate (e.g. Latest Salary Slip, Appointment Letter, Letter of confirmation from the corporate etc.)
  • Such existing saving/salary account of employees working in the Corporates which are already having accounts with us shall not be allowed to transfer from the existing scheme to this package if the said employee is having loans with NPA status.

 

Title of the Scheme

  • Corporate Salary Package (CSP)