Shrama Udana
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Loan for the EPF members – SHRAMA UDANA

1. Purposes for which Shrama Udana loan is granted

  • To build a house
  • To add a new part to a house /extensions
  • To complete a partly built house
  • To obtain water facilities, sanitary facilities and electricity
  • To purchase a house
  • To purchase a plot of land to build a house
  • Redemption

2. Who can obtain the loan

  • Members of the Employee Provident Fund.

3. The Loan amount you can obtain

  • Up to 75% of your EPF balance if you are currently employed

4. What is the Security

  • Your EPF balance

5. What will be your Loan Installment

  • If you are a salaried employee: 40% of the salary will be your maximum loan installment (within 60% of total fixed commitments) depending on your loan amount.

  • Others : Subject to evaluation of disposable income that can be proved.

6. What else……..?

  • A Savings Deposit Rs. 1000 /- to open a ‘Prathilabha’ Savings Account with the Bank.

  • Loan application should be forwarded to the labor department. Those applications will be and sent to recommended the HDFC Bank by the labor department.

  • Recommended loan applications will be processed for a loan by the HDFC Bank.


Terms and Conditions

  • An ordinary savings account should be opened.

  • Processing Fee- 1% From the Loan Amount (maximum Rs.20, 000.00)

  • Technical Fee - Rs.500.00-Rs.1, 000.00

  • For the early settlement of a loan a Commitment fee of 2% to 4% of the loan amount will be charged.