You can note down followings:
1. House Building
2. Two wheeler
3. Four Wheeler
6. Children Education
7. Self education
8. Medical for major disease
9. Natural calamity
10. Attending conference/seminar in India/aborad
11. More heads can be thought of depending upon the local needs
Yes, the loan canbe disbursed based on the salary and repayin capacity. More than that every year budget allocation is very important.
In the government and top corporate, they frame the clear cut policy with regard to eligibility based on the cadre, no. of year, salary, repaying capacity etc.
But in small organisation it is not clear.
Very important things to be noted are real need for the loan, no. of year worked, salary, repaying capacity.
For example, the house building loan for huge amount can be given to higher officials.
I think when the metter of years is come, it vary from company to company. Our compay provide small loans upto Rs 5000/- to trainees also. But in my opinion it should be limited to those employee who are permenent and have completed one year. am I right, seniors ? comments required
It depends on the company policy.
Preferably we need to know the importance of each request.
Cases Like natural calamity, salary advance for medical treatment, etc can be given to any employee, and for other loans like asset loan , house loan etc, we can fix up a eligibility criterion like above 2 years or more. ( This needs to be decided by the company).
This is also a means to retain an employee.
1. personal loan
2. education loan
the eligibility for a individual to apply is
personal - 6 mths of tenure in the org
loan provided is 2 times monthly salary payable in 10 mths
education - 1 yr tenure
the course/ training taken up should ideally be related to employees work. and the disbursement is based on the employee level in the organization and varies from 25K to 1 lac
there is a notional interest payable for any loans. pls check with the finance