SBI Loans to Employees to Purchase ESOPs

What are the types of financing available?

This will be a demand loan.

Maximum Loan Amount

The loan amount will be maximum of 90% of the purchase price, the maximum of Rs. 20 lakhs or 24 months of their net monthly income whichever is lower.

Interest Rate

The base rate 9.3%,

Documents Required

1. Completed loan application
2. 3 Passport size photographs
3. Proof of identify
4. Proof of residence
5. Original Salary Certificate from employer - in case of salaried individuals
6. TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Dep’t - - in case of salaried individuals

What are the terms for State Bank of India Loans to Employees to Purchase ESOPS?

1. The loan should be repayable within a 3 years in EMI
2. Up to 12 months of a moratorium period can be allowed within this 3 year period
3. The processing fees charged will be Rs.2040 per application
4. The shares bought under the ESOP to be held by the bank as security. And are held in Demat account.

How do I apply for this loan?

You can apply for this loan against State Bank of India Loans to Employees to Purchase ESOPS from the nearest State Bank of India branch or apply via their website. All you need to do is login with your details and then fill in the online application form

Can I apply for State Bank of India Loans to Employees to Purchase ESOPS online?

Yes, you can apply for this loan via the State Bank of India website.

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