Consumer Personal Loan Against Payroll - SHWE Bank

Home Consumer Banking Loan Consumer Personal Loan Against Payroll

General Purpose of Consumer Personal Loan Against Payroll

A short-term loan that is issued to employees to be used for any of their purposes.
The borrowed amount is for a specific period of time and can be repaid at regular intervals over the course of the borrowed period.

Product Features

Consumer Personal Loan Against Payroll is a short-term loan that is issued by SHWE bank to employees who meet the terms of the loan rules according to the financial needs of the employees, providing financial support to the employees of a company.

General Customer Eligibility

The applicant holds a permanent position at the current company.

The applicant has more than one year of service at the current company.

The applicant’s current company is utilizing the payroll service at Shwe Bank.

The applicant is on the payroll list at Shwe Bank.

The applicant has a clean disciplinary record at the current company.

The applicant is required to provide an HR recommendation verifying their salary range and employment confirmation.

The age must be from 20 years to 65 years (by the end of loan tenor) for both applicants.

2 guarantors are required to apply for consumer personal loan against payroll loan.

Fees and Charges

Table Header	Table Header
Interest rate :	13% per annum
Service charges :	Nil
Application fees :	20,000 MMK (Main Applicant)
Loan Tenure :	Maximum – 1 year
Loan Amount :	3 times of Net Salary (Maximum -10 million)

Documents required for “Personal Loan Against Payroll” application

One passport Size Photo (Mandatory)
NRC copy of the applicant (Mandatory)
Household List Copy (Mandatory)
Employment Confirmation Letter (Mandatory)
Staff ID card
Salary Slip (minimum 3 months) (Mandatory)
Proof of income/Bank Statement for last 3 months (Mandatory)
Original Testimonial Letter from Ward Administration Office (if any)
Original Testimonial Letter from Police Station (if any)

Required Document of Guarantor

NRC copy of the guarantor (Mandatory)
Household List Copy (Mandatory)
Staff ID card
One passport Size Photo (Mandatory)