Salaried Personal Loan

Consolidated Policy Document – Dec’24

Contents:
1. Full Underwriting Program ................................................................................................................. 2

2. Line Program ........................................................................................................................................ 13

3. TOPUP Pre-approved Program ......................................................................................................... 15

3. Paperless Balance Transfer ............................................................................................................... 17

4. Credit Card BT Program ..................................................................................................................... 19

5. Employee Loans ................................................................................................................................... 21

6. ABB Program ....................................................................................................................................... 23

7. GOVT Employee Program .................................................................................................................. 25

8. Bureau No-Hit (CIBIL 0/-1) Program .............................................................................................. 28

9. Manufacturing Program .................................................................................................................... 29

10. SAL LITE Program ............................................................................................................................... 30

11. MTS Program ........................................................................................................................................ 31

12. DOE1 – Unlisted ................................................................................................................................... 33

13. SALPL ETB DOE ................................................................................................................................... 34

14. Annexure .............................................................................................................................................. 35

14.1 CIBIL Norms ....................................................................................................................................................... 35

14.2 Bureau Thick/ Thin Definition ........................................................................................................................ 35

14.3 Bounce & Delinquency norms (On-Us) ........................................................................................................ 35

14.4 BFL Unsecured Loan norms ........................................................................................................................... 36

14.5 Geo Cluster Norms ........................................................................................................................................... 36

14.6 Leverage Norms ............................................................................................................................................... 36

14.7 Marginal Segment Norms ............................................................................................................................... 37

14.8 Risk Segmentation ........................................................................................................................................... 39

14.9 Employment check ..........................................................................................................................................40

14.10 Bank Verification Norms ............................................................................................................................. 41

14.11 Geo tagging Norms ...................................................................................................................................... 42

14.12 Identity Checks.............................................................................................................................................44

14.13 Deviation Matrix ........................................................................................................................................... 45

14.14 Product Limitation Profiles/ Negative Sector ........................................................................................ 46

14.15 Links for Employment Checks .................................................................................................................. 47

14.16 Clarification on Addbacks...........................................................................................................................48

14.17 Clarification on ABB .....................................................................................................................................48

Page No. 1
 1. Full Underwriting Program
Full underwriting program market tagging.

Policy
Prime & Growth
Parameter
Location
As per attached location list
Master
1. Salaried employees working in companies/ Govt are allowed to source
2. Contractual employees are not allowed
Customer 3. Employees of proprietorships, partnerships, HUF, Trusts and co-operative societies not to be funded
Profile 4. Applicant should not be a promoter of the company/partner in a firm. Same is applicable for BFL
Listed/Unlisted/Delisted Company
5. No Funding for customer staying in PG, Hostel & guest house
Minimum – 23 years at the time of loan application (Age <23 years not allowed in any program)
Maximum – 59 years at the time of loan maturity

• For Age from >=23 to <25 years,

o CIBIL Score <720 not allowed
o PL score <650 not allowed
o Red segment not allowed
o Salary >75k AND
o HL ever in CIBIL Report OR if residing in Owned house where Resi geo tagging mandatorily done to
Age Norms check if staying with parents
Above norms not applicable in Employee loan, LINE, Pre-approved TOPUP program & ABB Program

• If age > 55 years tenor of the loan to be adjusted for loan expiry at 59 years
• Only Term Loan/ Drop Line Flexi is allowed where Age >55 years.
• In Growth market, for customer with Age >55 years, salary should be >=75k
• With Retirement proof, max age upto 62 years at the time of loan maturity allowed for Govt employee
• For professors, age upto 65 is allowed at the time of loan maturity for Govt & University employee
• BSNL employees are allowed with maximum Age – 50 Yrs.

Minimum Loan
1 Lakh
Amount
Max Loan amount as per below grid:

MARKET SUPER GREEN GREEN AMBER RED Dark Red

PRIME 38L 33L 28L 17L 0
Annex 28L 28L 28L 17L 0
G1 38L 33L 28L 17L 0
G2 28L 22L 17L 11L 0
G3 28L 22L 17L 11L 0
G4 28L 17L 17L 11L 0

• Max LA 38L for Prime & G1 locations in Green Segment with Loan Variant Term Loan AND Tenure 84
Month
• Max LA 50L for Prime locations if meeting below norms
Maximum Loan
Parameter Norms
Amount
Allowed only in below locations of Prime market:
• Delhi, Faridabad, Greater Noida, Noida, Gurugram, Ghaziabad
• Bengaluru
• Pune, Dehu Road
Locations • Mumbai, Navi Mumbai, Thane
• Hyderabad
• Chennai
• Kolkata
• Ahmedabad
Allowed only in below company categories –
Eligible Companies
- Diamond, Platinum, Gold, Silver, Blue, Bronze, Pvt Ltd Company
Loan type Allowed in Term loan, Dropline Flexi & Hybrid Flexi
Max Tenor Upto 96 months
Age Norms Age should be <50 years at the time of acquisition

Page No. 2
Policy
Prime & Growth
Parameter
- Email & Domain check is mandatory
- Below profiles are not allowed
• Current work exp <6 months
Employment Check
• Employment confirmation only basis EPFO
• Work from Home profile
• Office premises as Co-working space
• No DPD in bureau in last 12 months
• Current Outstanding on all Credit cards >= Rs 10 Lacs – Not Allowed
CIBIL/ PL Score • Bureau Thick (Bureau Thick customer (CIBIL → Bureau Category → Thick/
Norms Thin) AND
o Ever HL is mandatory OR
o Owned house
Risk Segment Only Super Green & Green Segment
• At least 1 BNPL/ No BNPL – High not allowed
Leverage Norms • Majority BNPL not allowed
• >=2 unsecured loans in last 6 months not allowed
• Min 6 months bank statement to be verified by AA/ Perfios
Banking
• EMI Bounce in last 6 months banking is not allowed
Bounce &
Delinquency norms • As per Annexure 14.2 from Consolidated policy document
(On-Us)
Norms for BFL • As per Annexure 14.3 from Consolidated policy document
Unsecured Loans/ • Existing BFL SALPL loan to be processed in BTTP only. Parallel funding not
Total Exposure allowed
• Geo tagging is mandatory & to be done by BFL ON ROLL Employee only
Geo tagging
• Negative Area/ OGL not allowed to process

Max LA Capping
Locations Parameter
Super Green Green
Below G2 locations Loan Amount Capping 38Lacs 33Lacs

GUNTUR DEHRADUN KOTA JALANDHAR SHILLONG

PRAYAGRAJ GWALIOR SILIGURI JAMMU SOLAPUR
UDAIPUR PATNA BAREILLY JAMNAGAR TIRUPATI
JABALPUR BHARUCH BILASPUR KORBA TIRUPUR
BHILAI KOLHAPUR DURGAPUR PUDUCHERRY VARANASI

MARKET SUPER GREEN GREEN AMBER RED Dark Red

Lucknow 25L 22L 17L 0 0

• Max LA capping to be changed to 25L - Kanpur, Agra, Jalandhar, Amritsar

• Max LA capping to be changed to 15L - Gurdaspur, Shillong
• Max LA capping to be changed to 17L - For 163 locations of G4 locations

Minimum Tenor: 12 Months

Term Loan – 96 months

Dropline Flexi –96 months

• Cases with salary >=50k are eligible for max Tenure of 96M in Term loan & Dropline Flexi
o Cases with salary <50k can be process with Term Loan/ Dropline Flexi with max Tenure as 60 months
Tenor basis o For Tenure >=72M, eligibility calculation with 72M tenure in Term Loan
Products
Tenure for Hybrid flexi can be 84 months or 96 months
1. i.e., Pure Flexi Tenure as – 24 months & Dropline Flexi Tenure – 60 or 72 months
2. For Hybrid Flexi with 84 months, eligibility will be calculated with tenure of dropline tenure of 60
months
3. For Hybrid Flexi with 96 months, eligibility will be calculated with tenure of dropline tenure of 72
months
• No other combination of Tenure allowed in Hybrid Flexi other than total Tenure of 84 or 96 months
• No deviation is allowed on same

Page No. 3
Policy
Prime & Growth
Parameter
Due Date 2nd of every month
• Residence to be within the approved city limits and local clearing/at par for cheques. City Limits of
business is applicable for SAL/PL Locations
Geographical • Residence to be within 27.5 km from the BFL Branch where Market Category <120 locations
limits • Residence to be within 30 km from the BFL Branch where Market Category >120 locations
• Office outside Geo limit is allowed only if current residence is within BFL location and where customer
does daily up down to office from residences. loan can be booked only where applicant is staying
Sourcing allowed in Negative area if customer is meeting below 2 norms
1. CIBIL Score >=720 AND
Negative area 2. Bureau Thick customer as per annexure 14.2
Underwriter to capture Negative Area deviation manually if customer is meeting above norms.
No deviation allowed on Negative area if above norms not met.
Geo tagging As per Annexure 15.10
Geo Cluster As per Annexure 15.5
Norms
Identity As per Annexure 15.11
Checks
1. For these locations - Delhi, Pune, Bangalore, Chennai, Kolkata, Chandigarh, Ludhiana - minimum salary
is 50k
2. For Ahmedabad - minimum salary is 35k
3. For below locations, min salary is 30k
• Annex locations
• Hosur
Salary Norms • Nasik
• Aurangabad
• Vadodara
• Mysore
4. For remaining Prime locations Minimum Salary is 40k
5. For G1 locations of Growth market Minimum Salary is 30k,
6. For G2/ G3/ G4 locations Growth locations minimum salary is 27k
Bounce &
As per Annexure 15.2
Delinquency
norms (On-Us)
BFL Unsecured
As per Annexure 15.3
Loan norms
• Dark Red Segment is not allowed to source in all markets for both SAL ETB & SAL NTB customer
Risk Segment • For SAL NTB customer, Amber/ Red & Dark Red segment allowed to process in FULL UW programs
• For SAL ETB or SAL NTB Customer in Growth market, Red segment not allowed
Marginal
As per Annexure 15.4
Segment
CIBIL norms As per Annexure 15.1
Leverage
As per Annexure 15.6
Norms
• Super Green & Green Segment – 1 month
• Amber/ Red – 3 months
• Salary Slip not required in NIP Program
• Case can be processed on salary certificate allowed only in Growth locations basis below norm,
below to be check by Credit at the time of processing.
Salary Slip ▪ Certificate should not be more than 2 months old
▪ Supported by last 3 months salary credits in bank
▪ Should be on company letter head duly signed & stamped with company seal in original
▪ Employee name mentioned
▪ Mismatch in salary heads or overwriting not acceptable
▪ RCU signoff, if suspected

Bank A/c Type Salary bank account only

- Min 3 months Bank Statement

Credit to check below norms at the time of processing,

Bank
1. All months to show salary credits on regular dates – span of 5 working days for fluctuation in dates
Statements
allowed.
2. EMI bounce in the last 3 months as per bank statement. (Bounce for technical reasons is ok)
3. Salary credits in bank statement should be only through direct mode and not cash/cheque
Page No. 4
Policy
Prime & Growth
Parameter
4. High credit to be check
5. Bank statement to be available till end of previous month prior to login
6. Salary Delay
o Non Govt allowed only upto 5 days
o Government – Up to 30 days
*Note–
Balance of entire month for last 3 months to be consider for ABB calculation.
Salary shall be credited compulsorily.
Bank
statement As per Annexure 15.9
Verification
Total Employment experience >=3 years, (this norm not applicable for Age from >=23 to <25 years)
Current Employment >= 1 day

If Current employment is less than 1 month and salary slip is not available, then
Employment 1. CTC letter of current employer
Experience 2. Email confirmation is mandatory (No deviation on current employment norms)
3. 6 months banking of salary account of previous employer to be documented (Customer might not
be getting any salary in last 1/2/3 months in lieu of resignation)
4. This bank statement to be validated (through AA/ OCR/ Perfios/ Covert)
5. Program type in SFDC= Offer Letter based Program
Eligibility Eligibility will be calculated as:
Calculation Minimum of FOIR, Multiplier & Policy Capping
Clarification on Income Consideration
• Monthly Incentive-Average of last 3 months will be considered only if received in each of the last 3
months
• Quarterly Incentive (Average of last 2 quarters)/6, will be considered as part of income only if received
in each of the last 2 quarters
• Net Salary = Gross Salary-Deductions
• Arrears, Overtime to be excluded from income

Clarification on considering Obligations

• 5% Credit card Outstanding Not to be obligated if total Credit outstanding lower than Salary amount
ELSE
• Monthly obligations to include 5% of Credit Card and 5% of Overdraft O/s as per CIBIL apart from all
fixed EMI’s serviced by applicant (5% is the industry standard minimum amount due (MAD) required for
credit cards for the account to not flow into DPD)
• In case of any Overdraft of > 5 Lacs O/s is appearing as per CIBIL, underwriting team to check and
include monthly interest obligation (average of last 3 months) or actual monthly obligation, for
eligibility calculations
• Loan EMIs getting over in 6 months not to be considered

• Gold Loan/ LAS/Loan Against FD - Monthly interest to be obligated in CAM. Interest to be calculated
Eligibility as following
Consideration 1. Gold Loan - 15% p.a.
2. LAS / Loan Against FD - 12% p.a.
*Interest rate as per industry standard has been considered

• For Agriculture loan / Kisan Credit Card - Monthly interest to be obligated in CAM. Interest to be
calculated as 15% p.a.

Clarification on Under Construction Home Loan

• Home Loans at under construction stage where customer is paying pre-emi as of now, and the full EMI
will start later (varying from 1 year to 3 years)
In such scenario’s it is decided to take full EMI as obligation and increase the net salary (considered for
eligibility) by flat 10% for every year (max increment to be capped at 20%) covering the years which
would be required for completion of the property (Full EMI as per sanction amount is considered (not the
EMI of Pre EMI period) because customer currently would be paying EMI on Home loan which is only
partial and way lesser than actual EMI.
Since we are considering higher EMI we also give 10% YOY increment (max 20%) for Pre EMI period)
• Document showing possession date is required. Credit to validate Under-construction basis EMI/Pre-
EMI in bank statement
• Proof required if salary increment is to be given

Page No. 5
Policy
Prime & Growth
Parameter
• Credit to validate EMI/Pre-EMI in banking so additional document proof is not required for a flat 10%
salary increment
• Customer to provide agreement to sale, which should define date of possession/completion. If date of
possession/completion is > 1yr, 10% salary increment can be given
For example: if the under-construction property would require 2 more years for completion than net salary
to be increased by 10% p.a.

Clarification on Home Loan Obligation

If applicant’s spouse is Salaried employee OR Self- employee and transfers 50% EMI amount per month in
applicant’s account or Full/Half EMI paid by applicant’s spouse – then can we obligate half EMI - Yes. If
same is proved and documented

Clarification on Addbacks - As per Annexure 15.15

Monthly Rental income received by the applicant can be clubbed for doing eligibility calculations subject to
following:
Clubbing of • Rental Agreement should be taken
Rental income • Monthly rental should reflect continuously for last 6 months in bank statement
80% of Last 6 months average monthly rental receipts will be considered for eligibility calculations
• Considered rental income will be capped at 15% of the average net salary of applicant
(Least of above 2 to be considered as rental income)

Page No. 6
 Revised Multiplier Grid
Prime Salary Band
<50k >=50 to <75k >=75k
Super Green 14 20 20
Green 14 16 20
Amber 10 12 14
Red 10 10 10

Revised Multiplier Grid

Growth Salary Band
<50k >=50 to <75k >=75k
Super Green 18 20 20
Green 16 16 20
Amber 12 12 16
Red 10 10 10

• Max Applicable multiplier allowed as 22x in below segment

1. Super Green Segment AND
2. Salary >=75k AND
Multiplier
3. Allowed in Full UW/NIP Program AND
4. Only in Listed Companies (excluding Unlisted, Pvt ltd Category Delisted, Unlisted LLP,
Central/ State Entity, School/ College/University/ Hospitals)

• Max Applicable multiplier allowed as 24x in below segment

1. Super Green AND
2. Salary >=75K AND
3. Ever HL in bureau AND
4. Count of live Unsecured Loan <2 AND
5. Allowed in Full UW/NIP Program AND
6. Only in Listed Companies (excluding Unlisted, Pvt ltd Category Delisted, Unlisted LLP,
Central/ State Entity, School/ College/University/ Hospitals)
7. Above norms NOT applicable for Product program as MTS & SAL Government

• For Unlisted company category - flat multiplier of 10 across all risk segments

• For Pvt Ltd company category multiplier applicable as per below grid:

High Delinquency Medium Delinquency Low Delinquency

10x Super Green – 14x Super Green – 16x
Green – 12x Green – 14x

FOIR capping for Prime, Annex & Growth location (except below 14 locations) as below,

Net Salary (in Rs) No HL(Ever) / Property Loan With HL(Ever) / Property Loan
<50k 60% 60%
>=50K 65% 70%

*FOIR cap is decided considering the maximum that a customer can pay as fixed obligations (EMIs) after
household expenses.

- A higher FOIR is allowed for customers with Home loan as it is assumed that the customer with a Home
loan will not have to bear rental expenses or earns an additional rental income
FOIR
- Similarly, a lower FOIR is allowed for customers with relatively lower income (<50K) as minimum
absolute household expenditure is assumed for sustenance not allowing the customer to run obligations
at a higher FOIR compared to customers with higher income
Additional 5% kicker in FOIR for customer’s meeting below norms

Set 1 -
1. ABB >40k AND
2. Salary >1L in Prime OR Salary >75k in Growth market AND
3. Super Green OR Green Segment
4. Above kicker norms not applicable in MTS & ABB program

Page No. 7
 Set 2 –
1. Super Green AND
2. Salary >75K AND
3. Ever HL in bureau
4. Count of live Unsecured Loan <2
5. Only in Listed Companies (excluding Unlisted, Pvt ltd category, Delisted, Unlisted LLP, Central/
State Entity, School/ College/ Hospitals)
6. ABB >=20k
7. Above norms NOT applicable for Product program as MTS & SAL Government
For below 14 locations - FOIR capping as below,

AGRA GURDASPUR JHANSI NAINITAL RISHIKESH

AMRITSAR HARDWAR KANPUR PATHANKOT RUDRAPUR
BATALA JALANDHAR MORADABAD PATIALA

Net Salary (in Rs) No HL(Ever) / Property Loan With HL(Ever) / Property Loan
<50k 50% 50%
>=50K 65% 70%

1. Employment check is mandatory & norms as per Annexure 15.8

2. No employment confirmation required for Govt cases if employment is not changed.
Employment This is applicable for following programs –
Checks • Pre-approved Top-up live
• Top-up/Parallel full UW
• Applicable for customers with age up-to 50 years
1. Tele PD – Mandatory in all cases

2. Family Exposure Norms (Unsecured Personal Loans)

Maximum BFL level unsecured exposure capped to be check for individual capacity
o If Applicant taken unsecured loan from BFL 15 lacs within individual capacity, his/her spouse
can also avail loan irrespective of applicant loan MOB in his/her individual capacity without any
family exposure cap subject to max eligibility
o Maximum loan amount for individual to be restricted basis applicable profile capping, segment
caps and location capping as per existing Sal PL policy

3. In Unlisted companies Bachelor Accommodation not allowed if meeting below

o Applicant staying with friends/ colleagues in rented house
o Applicant staying in guest house/ co-provided guest house
o Applicant staying with colleagues in co-provided house

4. Customer working in Co-working Places

• UW team to check in TVR, if customer working in Co-working place, (UW to mention the same in
reco notes, if customer working in Co-working place if confirm by applicant in TVR)
• RCU team also can validate if customer is working in Co-working places at the time of
Other Credit verification
Checks • Below norms to be met if customer working in CO-working place.
o Official mail confirmation with domain check should be positive
o EPFO check should be positive
o Employee strength as per EPFO strength should be >=50
o Geo tagging should be mandatorily done at residence address only
o Company should have existence in >1 cities
o Company vintage should be >=2 years
o Employees from listed and unlisted (Including LLP) companies are allowed in all programs
except No Bureau Hit
o Last 6 months banking to be taken and AA/Perfios status must be passed. (Covert/SM visit
not allowed)

5. IOCL & ONGC Employees -

• Avg Last 6 months income to be consider while calculating eligibility for employees working in
IOCL & ONGC
• If Difference between minimum & maximum salary of last 6 months is abnormal, then Credit to
take final call on income for eligibility

6. Work From Home Profile - For Work from home profile, below is required
• HR verification
Page No. 8
 • Location stamping on salary slips
• Above condition can be waived off basis Official E mail confirmation & Perfios & Video PD/
Residence Geo Tagging

7. Norms for Coal Field Employees

Growth market, For all COAL FIELD employees of BCCL & CCL below norms are applicable-
• Only LR & MR Segment allowed
• Min net salary should be 60K
• If Net Salary < 1 Lac, Loan to be capped at 7 Lac
• Residence GEO Tagging is mandatory
• Sales Manager visit is mandatory in HUB Locations

8. Bank Employee Check

• Perfios Banking & Official email confirmation mandatory for Loan Applications of Bank Employees.
• As Salary Accounts of Bank Employees cannot be verified through Covert or FCU given the
restrictions on Staff Accounts
• Any loan application of Bank Employee where we do not have Perfios Banking or Official Email/
TAN Check/ Online Check confirmation will require NCM approval

9. Maternity Leave - Loan cannot be processed

10. Sanction Undisbursed

• Approval validity: Up to 1 month’s post approval
• CIBIL is valid upto 30 days from the date of initiation
• Banking verification is valid upto 30 days

11. Co-applicant norms

For Prime & G1 locations –
Below norms shall meet for adding Co applicants to a case
o Kolkata, Ahmedabad, Chandigarh & G1 -Combined Net Salary of Rs. 60,000 p.m.
o Combined Net Salary of Rs. 70,000 p.m (for locations other than mentioned above)
o Primary applicant’s location level salary norms to be meet
o Co-applicant’s salary should not be below Rs. 25k
o Co applicants could only be spouse or parents
o Applicant & financial Co- Applicant should be residing at the same residence

For Annex & G2/G3/G4 locations–

Below norms shall meet for adding Co applicants to a case
o Combined Net Salary of Rs. 40,000 p.m.
o Primary applicant’s location level salary norms to be meet
o Co-applicant salary should not be below 15k
o Co applicants could only be spouse or parents
o Applicant & financial Co- Applicant should be residing at the same residence

12. If customer need disbursal in secondary bank (non-salary bank account), then
• RCM approval is mandatory
• Secondary bank account to be validated through bank verification policy
1. Location specific norms:
For Delhi & it’s Annex (Delhi/ NCR)
o Sourcing from Govt Hospitals will be restricted for Delhi & it’s Annex locations

o For Pvt ltd Company category,

▪ Max capping as per FUW norms for Super Green & Green Segment
▪ Max capping for Amber Segment = Rs. 8L
▪ Sourcing allowed in Delhi and its Annex with capping of Amber as per FUW norms, only for
BFL ETB customer’s.
Additional Norms
for specific o For Unlisted companies –
program/ profile ▪ Up to 17Lacs allowed for Unlisted companies in Delhi
▪ Cases in Delhi unlisted shall not be processes basis office ID card and Geo Tagging
For loan amount above 8 lakhs below conditions needs to be satisfied-
1. Only Super Green allowed AND
2. HL ever mandatorily AND
2. Minimum company Vintage should be >=4 years AND
3. Minimum no. of 100 employees should be employed in the given company AND
4. Official mail confirmation, Perfios and EPFO check is Mandatory AND
5. Final case to be approved by RCM for above 8 lakhs
6. Only FUW program is allowed i.e., last 3 months Salary Slip is mandatory. NIP not allowed
Page No. 9
 7. Negative Sector companies not allowed
8. All other norms of Unlisted company will continue

2. Unlisted Companies

• BFL SALPL NTB CUSTOMER –

Max capping for Unlisted / Unlisted LLP company category
REVISED RISK SUPER GREEN GREEN AMBER RED DARK RED
Prime/ Annex 22 22 17 0 0
G1/ G2/ G3 22 22 17 0 0
G4 22 17 17 0 0
G4 - S (163 locations) 17 17 17 0 0

• BFL SALPL ETB CUSTOMER –

Max capping for Unlisted / Unlisted LLP company category
Revised Risk Segment Super Green Green Amber Red Dark Red
Prime/Annex 25 25 17 0 0
G1 25 25 17 0 0
G2/ G3 25 22 17 0 0
G4 25 17 17 0 0
G4 - S (163 locations) 17 17 17 0 0

• CIBIL Score <685 not allowed

• Unlisted company should be mandatorily checked in SFDC (if delisted or BL funded)
• Total volume capped at 15% of monthly volume for each Prime, G1, G2, G3 & G4 markets
• In Prime market, Unlisted Company category not allowed in SAL ETB & SAL NTB to source in
Green & Amber Segment in below locations including their Annex
▪ Chennai
▪ Delhi
▪ Mumbai
▪ Other than above mentioned locations, Unlisted is allowed in Super Green, Green &
Amber segments

o In Growth market –
▪ Minimum Salary – 30K
▪ Current Work Experience - Minimum 3 years, (1 to 3 years allowed only with CM
approval, <1 year allowed only with ACM approval)
▪ E-mail mandatory for cases for unlisted company from with previous cases
processed with email

o Other checks (Profile approval) -

▪ Profile approval should be taken from Area Credit Manager & above
▪ Unlisted Company Should at least have 2 years vintage
▪ Company status should only be Active on MCA website
▪ Company should not be involved in Negative industry
▪ Employee strength should be >=30
▪ Only selected large NGOs are allowed – NCM to take a call on company/profile
▪ Unlisted School/Colleges are not allowed under Profile approval

3. UNLISTED LLP Program

o Salary –
▪ For Prime locations - Location level applicable Salary + 10k (i.e., For Mumbai location
applicable net salary =40k, for this program applicable NTH salary will be 50k)
▪ For Moved to Prime / Annex / Growth - Location level applicable Salary + 5k (i.e., For
Vapi location level applicable NTH = 27, for this program applicable Salary tolerance not
applicable in this program net salary will be 32k)
o Employee Strength at EPFO Website
o Company vintage as per MCA (DOI, if available)
o Customer Profile/Designation
o Salary slips and banking mandatory of last 3 months (NIP program & offer letter-based
sourcing not allowed)
o Official mail confirmation, EPFO & Office Geo Tagging mandatory (TAN Check is not allowed)
o Office Geo-Tagging mandatory
o Work from Home profile to be excluded
o Monthly capping of 5% in Prime of overall business, this capping is within overall unlisted
capping of 15%

Page No. 10
4. Norms for No Payslip Program –
No salary Slip to be taken where Banking is provided through AA/OCR/Perfios. Below Parameter should
also meet for exemption of Salary Slip check (No Payslip Program)

Parameter Policy Norms

Current employment • Minimum 3 months
vintage
• Office E-mail id confirmation or Positive EPFO mandatory in NON-Govt
category
Employment • For Govt employee - TAN Check/ Online Govt Website check should be
check positive
*Employment check norms to be adhere as per policy (refer Annexure 15.8
from consolidated policy)
• Average of last 3 months salary, if difference between highest and lowest
Net Salary net salary is within 30%, else lowest net salary to be considered
• Each of the last 3 salary credits to be above the minimum income norms
Company category • Only Listed Companies
• Salary credit narration to contain ‘Company name’ and ‘Salary’
Salary credit
• Underwriter to check for salary credit, date and employment in case
narration
‘Company name’/ ‘Salary’ missing in the narration
• If Authenticity norms not meeting, then not to be processed under NIP
• Employees working with Amazon group cannot be process in “No Payslip Program” since
employee class seen as “Seasonal/Short Term” in Payslip
• Employee with “.ext” in official mail ID (i.e. - jdaksh.ext@deloitte.com ) cannot be process under No
Payslip Program for any company

5. SALPL ETB FUW Program –

For BFL SAL PL ETB customers 10% incremental kicker on existing multiplier eligibility if meeting below
norms:
Parameter Applicable Norms
Program Type to be selected in SFDC “SALPL ETB FUW Program”
Segment Allowed only in Super Green & Green
Geo Cluster Allowed only in Low & Medium Delinquency
Allowed only in below leverage category,
1. At least 1 BNPL / NO BNPL - Low
Leverage 2. At least 1 BNPL / NO BNPL – Medium
3. Majority BNPL – Low
4. Majority BNPL – Medium
Salary Allowed with salary >=50K

Note:
1. Incremental kicker allowed only in FUW Program
2. No deviations allowed on above norms
3. No change in location & Segment level capping
4. Not applicable for unlisted company category

6. Norms for State Government Employees

Max Loan Amount capping for State Govt Employee
MARKET SUPER GREEN GREEN AMBER RED Dark Red
Prime/Annex 28L 22L 17L 0 0
G1 28L 22L 17L 0 0
G2 28L 22L 17L 0 0
G3 28L 17L 17L 0 0
G4 28L 17L 17L 0 0

o Max LA 38L for Prime & G1 locations in Super Green & Green with Loan Variant Term Loan
AND Tenure 84 Month
o State Govt Employee with NTH <50k not allowed in Prime market
o State Govt Employee with Red segment not allowed
o CIBIL Score should be >=685, No deviation allowed for CIBIL score <685
o In Growth location:
▪ Amber segment allowed in State Govt with capping of 12cr of overall business in
Growth market
▪ State Government Employee with High-Risk segment allowed in Growth Market if
NTH >=75k in Super Green and Green segment only

Page No. 11
 o Central Government entities/ PSU will be treated as listed category from loan amount
capping perspective. Rest all checks of central Government will continue

o Employment Check In Prime Market,

RSA can be waived for TOPUP cases in Govt Employees basis below checks
▪ Positive TAN check OR Online website check (screenshot of above check to attach
on SFDC)
▪ PAN check
▪ No change in Repayment bank account. Disbursement should be in salary bank
account only
▪ All other checks as per FUW policy
Above norms are not applicable for SALPL NTB Customer
o In Growth market, employment check as per FUW policy

7. Additional Norms for Normal Balance Transfer

• Scope - Personal Loan BT amount can be 100% of the POS of BT loan amount

• PL BT Norms –
In case customer requests for doing the partial loan disbursement towards closure of any of his live
Personal Loans, this Personal Loan EMI loans getting taken over or closed (as a result of Top up &
BT) would not be considered as obligation for doing the FOIR calculation
o Minimum Personal Loan BT amount should be of Rs 1 Lacs
o Minimum 6 MOB seasoning of the BT loan
o Min 12 MOB seasoning for below banks
▪ Standard Chartered Bank
▪ Kotak Mahindra Bank
▪ HSBC Bank
o Sourcing under Normal BT NOT Allowed in below banks/ lender
▪ FULLERTON INDIA CREDIT COMPANY LIMITED
▪ SMFG INDIA CREDIT COMPANY LIMITED

• Documents –
o KYC & Income documents (Banking and Payslip) to be taken as per FUW policy norms
o SOA/ Repayment Schedule/ Foreclosure Letter required for processing of balance transfer
at UW stage

• Operation Check - Customer’s disbursement cheque can be handed by Ops team to Business team
o Operation Manager can handover customer favouring cheque basis deposition slips/
Closure proof/ FC letter with round seal & Sign to business team
o Sales to ensure Bank favouring cheque number is mentioned on Deposit slip (Mandatory)
o Bank stamp is marked on deposit slip (mandatory)
o Ops to check, Cheque number & bank stamp on deposit slip before handover of Customer
favouring cheque (Mandatory)

8. Income Surrogate
• Allowed only in Prof SAL.
• CIBIL Score >=720
• Only Super Green & Green segment allowed
• Email Confirmation is mandatory in this process
• Bank statement & payslip not required in this program
• Banking Checks-
o Snapshot of net-banking with salary credit or salary credit text message from mobile to be
documented where either bank account number or last 4 digit of bank account number are visible
o This bank account number should match with bank account mentioned in Karza Report
o In case, bank account number is not matching banking has to be provided at Credit approval stage
o If customer is providing any other account for disbursement and repayment, then Bank verification
is required
• Salary Calculation criteria as below:
Gross Salary Net Salary
>50k Gross Salary – TDS – (5% * (Gross Salary – TDS)
>1L Gross Salary – TDS – (10% * (Gross Salary – TDS)
>2L Gross Salary – TDS – (15% * (Gross Salary – TDS)
Deviation Matrix As per Annexure 15.12

Page No. 12
 2. Line Program

The objective of this program is to offer the TOP up (Line) on Pre-approved offer available in SFDC.
The Program is applicable for Prime & Growth markets. No Salary Document is required. Parallel loan is to be given for
additional funding in Term/Dropline flexi.

Below are PO names for Line Offers,

• SPL_LINE_ASSIGNMENT – PO Name for SALPL Prime/Growth
• WEBSITE_PREAPPROVED(PL2) – PO Name for SALPL Prime/Growth basis BFSD Loan
• PRO_Website_Preapproved (PL2) – PO Name for Prof SAL

Below are require checks to be done at Credit stage before approval

Parameters Line Policy

PO Conversion is mandatory,
Process
Sales to trigger CIBIL & Risk Segmentation in SFDC
Seasoning >=6 MOB completed LAN (MOB to be calculated on First Due Date)
1. Only Sal PL Approved locations considered for sourcing from this program
Location
2. Customers belonging to Non SALPL locations to be excluded
Bounce & Delinquency norms
As per Annexure 15.2
(On-Us)
BFL Unsecured Loan norms As per Annexure 15.3
Marginal Segments As per Annexure 15.4
• Dark Red– Not allowed
Segmentation Norms
• Sourcing not allowed in Growth market in Red segment
• As per Annexure 15.8
• If employment is not verified through Email/ Domain, EPFO, TAN Check then
Employment Confirmation
employment verification to be done with AA/ Perfios salary narration, Credit team
to validate salary narration
1. Repayment to be taken from Existing repayment bank account (from which
existing EMI getting deducted)
Repayment Account 2. To be from Salary bank account only
3. Verification of bank statement to be done through Perfios/Covert in case of
change in salary bank account than previous LAN
• Minimum Age 23 years
Age • Maximum Age 53 Years
• Maturity of the Loan should be such that customer <= 59 Years at maturity
CIBIL Score >=720
CIBIL Norms
Rest norms as per Annexure 15.1
• Allowed with 20% reduction in offer amount for “Leverage Category - At least 1
Leverage Norms BNPL / NO BNPL – High”
• Rest as per Annexure 15.6
Geo Cluster Norms As per Annexure 15.5
Identity Checks As per Annexure 15.11
Total Exposure As per existing Product/Profile/ location capping
To be check at UW stage
• Declined by UW in last 6 months not allowed in this program
Additional Norms
• Existing loan processed with combined income of Applicant/ Co-applicant, then
not allowed in this program
Tele PD Mandatory in all cases processed by UW team
Deviation matrix As per Annexure 15.12
1. Min 3 months banking required
2. Max LA capping as below,
• 20L for BFL Listed companies
Additional Check for
• 10L for Unlisted company category
SALPL_AA_LINE_OFFER
3. SALPL ETB Customer not allowed
Program
4. Credit Checks
• Salary to be verified & EMI Bounce to be checked from provided banking
• Salary Amount to be mentioned in Reco notes
Case meeting below norms getting processed in LINE STP

Rules for LINE STP • Applicant Rules

1. Age of Applicant is less than or equal to 52 Year
2. NSDL PAN status should be exisitng and valid

Page No. 13
 3. Program Type = SPL_LINE_ASSIGNMENT or WEBSITE_PREAPPROVED(PL2) &
Offer Process Segmentation = Line
4. Requested loan amount <= offer_amount
5. Revised Risk Segment is not DARK RED

• CIBIL Rules
1. Applicant Mobile number in Loan application and Mobile Number in CIBIL
matches
2. CIBIL creation is less than 1 month
3. CIBIL V3 score is >= 720
4. Count of Personal loan taken in last 6 months from CIBIL creation date
5. Customer is not having secondary CIBIL Match
6. No. of tradelines with Written-off/Post (WO) Settled/Settled/Restructured
except credit card from CIBIL Creation date

• Dedupe Rules -Dedupe Record with

1. Customer Status as Bad
2. Dedupe Source as APPROVED_BFSD
3. Dedupe Source as APPROVED_HTS
4. Dedupe Source as APPROVED_STS
5. Dedupe Source as Non-Compliant

• Dedupe Source as RBI

• Dedupe Source as WATCHLIST2
• Dedupe Source as WIP

• Leverage Rule -High Leverage Norm not meet

• Marginal Segment -Marginal Segment not meet
• Standard Derog -
1. Ever 30+ in 12 months
2. "Ever 60+ DPD in last 36 months AND Overdue amount > 500 (Loans) /
1500 (Cards)
3. Only 1 60+ tradeline AND PL / BL / HL taken post 60+ date with 24 MOB +
repayment with no dpd
4. Overdue Amount > 500 (Loans) / 1500 (Cards) in last 12 months
5. "Restructured within 5 yrs
6. Only 1 Restructured tradeline AND PL / BL / HL taken post Restructure
date with 24 MOB + repayment with no dpd "
7. "SMA /DBT/ SUB/LSS/90+ < 5 yrs AND Overdue amount > 500 (Loans) /
1500 (Cards)
8. Only 1 SMA/DBT/SUB/LSS/90+ tradeline AND PL / BL / HL taken post
SMA/DBT/SUB/LSS/90+ date with 24 MOB + repayment with no dpd"
9. "W/off with w/off amount > 500 (Non Card) & 1500 (Card). No W/off
amount will also be considered as derog
10. Only 1 W/off tradeline AND PL / BL / HL taken post W/Off date with 24
MOB + repayment with no dpd"

• Employment Rules -EPFO Check is Pass or ( Domain is Pass and Email is verified

Page No. 14
 3. TOPUP Pre-approved Program

Objective
The objective of this program is to offer TOP up pre-approved loans to existing SAL PL Customer. The Program is
applicable for Prime & Growth & Prof SAL Business.
Below are the PO names for Top-up offers,
• Pre-Approved Top-up: offer given on SALPL Existing Loan
• PRO Pre-Approved Top-up: offer given on PROF SAL Existing Loan
• Website Top Preapproved (PL2): offer given on BFSD Existing Loan

Underwriting Checks
Below are require checks to be done at Credit stage before approval,

Parameters Policy norms

Seasoning >=6 MOB completed LAN (MOB to be calculated on First Due Date)

Only Sal PL Approved locations considered for sourcing from this program
Location
Customers belonging to Non SALPL locations to be excluded
• Dark Red/ VHR – Not allowed
Segmentation Norms
• Sourcing not allowed in Growth market in Red segment
CIBIL Norms As per Annexure 15.1
Bounce & Delinquency
As per Annexure 15.2
(BFL Loans)
Norms for BFL
As per Annexure 15.3
Unsecured loans

Marginal Segments As per Annexure 15.4

Leverage Norms As per Annexure 15.6

As per Annexure 15.5

Geo Cluster Norms

As per Annexure 15.11

Identity Checks
Hybrid/Term/Dropline allowed.
Below conditions needs to follow:
• All existing SALPL loans are required to be closed
Loan Type
• At a customer level, customer cannot have more than 2 live loans running with us
• For BFSD loans (PO name – Website Top Preapproved (PL2)), new loan to be process under
Parallel
6-12 MOB
• Eligibility to be recalculated at Credit Stage as per FUW policy
• Income documents required as per FUW policy
• Bureau, Segmentation, Salary, employment check, marginal segment norms to be
followed as per FUW policy
• Profile/Location level capping to be followed as per FUW policy
• Fetch POS & closure of existing LAN is mandatory

>=12 MOB
• Up to 10% increment on existing loan amount
o PO conversion is mandatory
o Sales to trigger CIBIL & Risk Segmentation in SFDC
Loan Amount o Eligibility as per offer stamping
o No Salary document to be taken
o Bureau, Segmentation, employment check, marginal segment norms to be
followed as per FUW policy
o Profile/Location level capping to be followed as per FUW policy
o Fetch POS & closure of existing LAN is mandatory

• >10% increment on existing loan amount

o Eligibility to be recalculated at Credit Stage as per FUW policy
o Income documents required as per FUW policy
o Bureau, Segmentation, Salary, employment check, marginal segment norms to be
followed as per FUW policy
o Profile/Location level capping to be followed as per FUW policy
o Fetch POS & closure of existing LAN is mandatory

Page No. 15
Closed Existing Loan New Loan to be process with FUW norms if existing SAL PL loan is closed
No cheque/EMI bounce in the last 3 months as per bank statement. (Bounce for technical reasons
Bounce norms from
is ok),
Banking
Note: this norm to be check wherever TOPUP is processed basis FUW policy
Employment
As per Annexure 15.8
Confirmation
PD Norms As per Credit discretion

1. Repayment to be taken from Existing repayment bank account (from which existing EMI
getting deducted)
Repayment Account
2. Verification of bank statement to be done through Perfios/Covert in case of change in salary
bank account than existing LAN
• Minimum Age 23 years
Age • Maximum Age >=55 Years
• Maturity of the Loan should be such that customer <= 59 Years at maturity
Description Offer Logic UW Process
All BFL SALPL Closed Loan Max sanction amount Full underwriting
Only BFSD Loan Max sanction amount Full underwriting
TOPUP Policy released on
Only 1 Live SALPL Loan MAX SANCTION AMOUNT*1.10%
5th Sep
SUM [POS Of term Loan+ Limit of TOPUP Policy released on
Offer Computation Multiple Live SALPL Loans
Flexi] *1.10% 5th Sep

Note:
• BFSD Loans will not be considered for scenario 3 & 4 also BFSD Loan’s Exposure will be
considered for group exposure
• All location level capping will be applicable as per FUW Policy
• Existing loan processed with combined income of Applicant/ Co-applicant, then not allowed
Additional Norms
in this program
Deviation Matrix As per Annexure 15.12

Page No. 16
 3. Paperless Balance Transfer
duct
Balance Transfer refers to transferring the existing loan amount from one financial institution to another to get better
loan terms such as reduced rate of interest, better product services etc.
In this process customer closes live loan from one institution and opens a new loan with the institution doing BT with
equivalent, lesser, or higher loan amount

Parameter Policy norms for Paperless BT

• Original Finance amount + 5% allowed under paperless BT
• We can add foreclosure charges upto 5% of BT Loan Amount if BT bank POS + Foreclosure
Scope
Charges is higher than BT loan amount. Credit to validate foreclosure charges at the time of
approval
• Will be allowed for banks mentioned below –

Bank Name
HDFC BANK LTD TATA CAPITAL
IDFC FIRST BANK YES BANK
ICICI BANK LTD AXIS BANK
KOTAK MAHINDRA BANK LTD ADITYA BIRLA FINANCE LTD
BT Banks STANDARD CHARTERED BANK LTD STATE BANK OF INDIA
HSBC BANK INDUSIND BANK
CITIBANK

This is applicable for external BT only*

• Axis Bank & TATA Capital not allowed in 100% BT/ MTS 100% BT & Govt 100% BT Program in
Delhi & Bangalore and their respective Annex location
CIBIL Score should be >=720
CIBIL Norms
As per Annexure 15.1
Bounce & Delinquency
As per Annexure 15.2
(BFL Loans)
Norms for BFL
As per Annexure 15.3
Unsecured loans
Marginal Segments As per Annexure 15.4
• No income proof required for LA 3L-5L, however MTS - 100% BT norms to be met
• For LA >5L, income proof required & case can be processed in MTS program as per MTS
program capping & norms.
Leverage Norms
• No additional unsecured exposure in last 6 months from the date of application– (up to 50K
loans not to be counted)
• Rest norms as per Annexure 15.6
Risk Segmentation Only Super Green & Green segment allowed
Geo Cluster Norms • Rest as per Annexure 15.5
Identity Checks As per Annexure 15.11
Minimum Loan amount • Minimum BT loan amount shall be 5 Lakh
Max Loan Amount • As per FUW capping
• Original loan amount + 5% which is to be transferred will be considered as Maximum loan
amount allowed
• Max Loan amount of 38 Lakhs allowed. If finance amount of BT loan is greater than 38L and
POS amount less than 38L then BFL loan amount will be capped at 38L only.
• We can add foreclosure charges upto 5% of BT Loan Amount if BT bank POS + Foreclosure
Eligibility Charges is higher than BT loan amount. E.g.,
If BT Loan amount= 15 Lacs
POS of BT Loan = 15 Lacs
FC Charges (@4%) = 60 k
As per policy we can fund 15.6 Lacs
Credit to validate foreclosure charges at the time of approval
• No salary slips required
Documents • Other than KYC documents, SOA/ banking is required for processing of loan at UW stage for
verifying EMI repayment on due date for last 12 months
Clubbing of loans for BT Max 2 loans can be clubbed and transferred. Eligibility norms will remain same

Page No. 17
Company Category • Allowed only in BFL Listed companies
For a loan to qualify under Paperless BT program following norms shall meet

1. No DPD in BT loan in last 12 months

2. No 30+ DPD ever in BT bank loan
3. No DPD in last 12 months in any EMI based loan
4. Customer shall serve minimum 12 MOB from the source bank
5. Max 3 Live PL/BL Loans are allowed (up to 50K loans not to be counted)
Repayment norms of BT
Loan a. PL Count >3 to be checked after disbursal. (For e.g., customer serving total 4 live
personal loans at the time of acquisition & we are doing balance transfer of 2 live
personal loans. IN this scenario, total live personal loans after disbursal will be 3)
6. In Delhi, Mumbai, Hyderabad & their Annex locations 100% BT not allowed with below
condition
• >=3 live unsecured loan in CIBIL report at the time of acquisition AND
• No HL in CIBIL report
Repayment Repayment should be same bank from which BT Loan EMI is deducting
• Minimum Tenor – 12 months
• Maximum Tenor –
o 96 months under Hybrid Flexi
o 84 months tenure in Term Loan/ Dropline Flexi in 100% BT program, Govt Employee
Tenor
Program - 100% BT & MTS 100% BT allowed with below condition
i. Min 3 months banking to be documented & verified to check if salary >=50k (UW
team not to check obligations)
ii. Without banking Max tenure in Term Loan/ Dropline Flexi will be 72M
• Paperless BT loan amount within 3 to 5 Lakh can be processed in MTS program (MTS - 100%
BT Program)
Additional Norms • 100% BT allowed in Govt Employee Program if rest other 100% BT norms meeting (Govt
Employee Program – 100% BT)
•
Below checks to be check at underwriting stage –

1. Age >=51 years not allowed

2. Demographic details checks and validation with KYC
3. Employment confirmation as per existing checks (Official Mail confirmation/EPFO)
4. Dedupe check
5. Bureau Check as per existing SAL PL policy
6. Existing BFL Unsecured/SALPL customer is allowed to process however MOB of existing BFL
Credit Checks Unsecured SALPL loan should be >=6, Existing BFL track track to be checked at credit
approval stages
7. If latest Existing SALPL Loan processed in Non-salary based program, then cannot process
100% BT Programs for SAL ETB customer
8. Above 100% BT Program not allowed for SAL ETB customers where customers has taken off
us unsecured loan with LA >1L within 30 days before or 30 days after our existing SALPL
loan
*Above 2 norms (point 7 & 8) needs to be checked by UW while processing

For Normal BT/ Paperless BT program, Ops can handover customer favouring cheque to
business team basis
• Loan Closure proof (NOC/ SOA with status as Closed)
• Foreclosure letter with Bank’s Seal & Sign
• Deposition Slip
Operations Checks o Operation Manager can handover customer favouring cheque basis deposition slips to
business team
o Sales to ensure Bank favouring cheque number is mentioned on Deposit slip (Mandatory)
o Bank stamp is marked on deposit slip (mandatory)
o Ops to check, Cheque number & bank stamp on deposit slip before handover of Customer
favouring cheque (Mandatory)
• No deviations allowed
Deviation Matrix • Cases which are not qualifying above norms can be process under full underwriting basis
credit/financial assessment

Page No. 18
 4. Credit Card BT Program
Objective
This program is to allow Credit Card Balance Transfer for SAL PL Business.
Credit Card Balance Transfer refers to transferring the credit cards outstanding amount from one/multiple financial
institutions to BFL to get better loan terms such as reduced rate of interest, better product services etc.

Program Cap:
Program monthly cap of 25 Cr in Prime, 10 Cr in Growth & 5 Cr in Prof SAL

Policy Parameters:

Parameters Underwriter Checks

• Overutilized card BT not allowed
• Late fee, over limit fee in last 3 months not allowed, for individual proposed CC BT
Underwriter should attach last 3 months CC statements in SFDC (password to be
mentioned in Reco notes, if any)
Eligibility Norms • CC Limit <1 lakh not allowed for all for individual proposed CC BT
• CC outstanding <50k not allowed for all individual proposed CC BT
• CC outstanding >10Lakh not allowed for combined live Credit Cards
• L IVE PLCS loan not allowed, (no deviation allowed post completion of 6 months as
well)
Locations • Allowed only for Prime market & G1 locations of Growth market
Minimum and Max Loan • As per existing SAL PL policy (Location/profile/segment capping)
Amount • Tier wise capping as per FUW policy is applicable
Minimum Net Salary >=50k
• Min Age – 25 years
Age Norms • Max Age – 55 years
• No deviation on age norms
• CIBIL<720 to be excluded
CIBIL Norms
• Rest norms as per Annexure 15.1
Company category Only Listed company category is allowed in this program
Definition of listed companies – Diamond/ Platinum/ Gold /Silver/ Blue /Bronze/ Pvt Ltd
BT Credit Cards ownership • Ownership should only be “Individual” as per bureau
Risk Segments • Only “Super Green” & “Green” segment allowed
Statements • Last 3 months CC Statement to be documented for all proposed CC BT to check
eligibility norms
Clubbing of cards for BT • Max 4 cards can be clubbed for BT
Income Documents • As per current FUW norms
Eligibility Calculation
• 5% of CC o/s of CC BT not to be obligated while computing eligibility
Method
Bounce & delinquency As per Annexure 15.2
norms (On US)
Norms for BFL Unsecured As per Annexure 15.3
loans
Leverage norms • NO Deviation allowed in cases with High severity in Prime market
• Rest As per Annexure 15.6
Marginal Segment As per Annexure 15.4
Geo Cluster Norms As per Annexure 15.5
Identity Checks As per Annexure 15.11
Allowed in below Credit Cards issuers –
HSBC ICICI Bank Yes Bank HDFC Bank
Credit Cards issuers AU Small Finance Bank CITI Bank DBS IndusInd
Standard Chartered Bank Axis Bank RBL IDFC
Kotak Mahindra Bank SBI Amex Federal Bank
Loan type Term Loan, Dropline flexi & Hybrid flexi allowed in this program
Tenure As per FUW policy
In Split disbursement,
1. DD/Cheque of CC BT amount in favour of CC BT bank
Disbursement
2. Another DD/Cheque of remaining amount of max eligible amount in favour of
customer
Deviation Matrix As per Annexure 15.12

Page No. 19
 Example of eligibility calculation method

Eligibility Calculation
Salary 1,20,000
FOIR% Applicable considering LR 70%
Eligible monthly EMI 84,000
Current Obligations 55,000
BT Credit Card Outstanding 5,00,000
Credit Card 5% of Outstanding 25,000
CC BT (Yes/No) Yes If Yes, CC o/s of 5% not to be considered for calculating eligibility
Total Monthly Obligation 55,000
Remaining Monthly EMI 29,000
Eligibility 11,92,434
Eligibility as per Multiplier 2160000
Max Eligible Loan Amount 11,92,434

Disbursement:
• DD/Cheque of CC BT of Rs. 5L/- in favour of CC BT bank
• Another DD/Cheque of remaining amount Rs. 692434/- in favour of customer

Additional Norms:

Sales Team
1) To enter favouring details in SFDC at Post Approval Stage before customer consent
2) To take RFD either on mail where BFL on-roll employee is marked in CC OR physical RFD Form (mandatory to enter
completed Credit Card number on RFD Form)

UW Team
to mark sanction condition basis provided statements
1) Financier name
2) POS
3) last 4 digit Card Number of proposed CC BT
4) UW team to also ensure NO Credit Card image/ details are attached in SFDC. Case to be sent back in case same is
available in SFDC

Ops team
1) Ops team to also ensure NO Credit Card image is attached in SFDC
2) Check & validate Financier Name, POS & Last 4 digit of Card Number of proposed CC BT from Sanction condition,
RFD & Favouring in SFDC are matching
3) Ops team to also ensure NO Credit Card image/ details are attached in SFDC. Case to be sent back in case same is
available in SFDC

Sales/ UW/ Ops to ensure, Credit Card image or Credit Card details i.e., expiry date /CVV should not be attached/
updated in SFDC.

Page No. 20
 5. Employee Loans
Parameters Employee Loan Policy (BFL, BHFL, BFSD, BFHL, BFSL, BFVL)

Exclusion Employee falling in any of the below norms are not allowed to source
• Employee serving notice period
• PIP
• DAC
• Pre-PIP
• GB 01 band
• Min vintage <1 years for Growth locations for GB 02 band employee,
• Consent to be taken from respective dept NSM with band GB 07 & above
Location For NON SALPL location, we can process employee loan application from nearest SALPL
branch which should be in same state & within <=100 KMs
• If above condition not met for NON SALPL branch, then employee loan application
to be process from RSL
CIBIL As per Annexure 15.1
Bounce & Delinquency As per Annexure 15.2
Norms (On US)
BFL Unsecured Loans Norms As per Annexure 15.3
Marginal Segment Not Applicable
Segmentation Norms Deviation on Dark Red Segment is at SCO level (System/mail approval)
• Can be processed with SCO deviation in Employee Loan program
Leverage Norms
• Rest As per Annexure 15.6
Geo Cluster Norms Not applicable
Identity Checks As per Annexure 15.11
As per HR confirmation –
Below are Guidelines for eligibility calculation at HR
• Average of last 3 months net salary + 80% of all incentive earned in the quarter
• If employee availed Car Lease benefits, then driver’s salary & Petrol reimbursement,
Flexi Pay can be added
Eligibility Calculation
• One-time allowances can’t be considered as income for eligibility calculation (i.e.,
Referral Bonus, joining bonus, relocation allowance)
• Arrears will not be considered as income
• Advance salary to be excluded from monthly net salary calculation
• Band wise max loan amount for bureau hit customers is as per below grid
• No restriction basis of Location level capping
• For Employees loan, case to be processed with max Loan amount shared by HR team
Only.
• Full Underwriting (Manual intervention) not allowed with income assessment at any
band.

New Bands at Applicable LA as per Band

GB 02 300000
Loan amount Capping Max LA is 3L if BFL vintage <3 years
GB 03
Max LA is 6L if BFL vintage >=3 years
GB 04 A 1000000
GB 04 B 1200000
GB 05 A 1500000
GB 05 B 1800000
GB 06 A 2000000
GB 06 B 2500000
GB 07 A & Above 3800000
For employee with band upto GB 03B, only Term Loan allowed as loan variant if BFL
Loan variant
vintage <3 years.
Bajaj Group Employee • Full underwriting to be done. All full underwriting norms to be meet
• Email confirmation is mandatory
Deviation Matrix • As per Annexure 15.12
• For GB 04A & above band, deviation for below norms is with SCO
o Dark Red Segment
o High Severity
o Enquiry Norms not met
• For Employees with Band upto GB 03B, no deviation allowed at any level for above 3
norms.

Page No. 21
Additional Norms For Employees with Band upto GB 03B, any TOPUP/ Parallel or Fresh sourcing allowed
only after completion of 12 MOB of previous loan

Page No. 22
 6. ABB Program

Parameter Underwriting Check

Locations All SAL PL active Location

Minimum and Max o Min Loan amount – 1 Lakh

Loan Amount o Max Loan Amount – 17 Lakh
Unlisted Companies, Unlisted LLP, Proprietorship firm, Partnership firm meeting below norms
• Underwriter to validate latest month Employee strength on EPFO website which should be
a. >=30 employee on EPFO
b. EPFO of the Applicant should be positive

• Underwriter to validate for NON BFL listed companies -

a. Company vintage should be 3 Years for Prop/Partnership and LLP companies &
Eligible Companies b. Company vintage should be 2 Years for MCA listed companies
• Sales to attach screen shot of EPFO strength, Positive EPFO & Establishment year in SFDC and
Underwriter must validate the same.

Only listed State Govt Entity/Central Govt Entity/PSU allowed to source with TAN check/ Online
Govt website check is mandatory and TAN to be considered of FY22-23
(Employee Strength & company vintage norms not applicable)
*Negative profile not allowed as per below Annexure 15.13
1. Term loan & Dropline Flexi for eligibility upto 5Lac
Loan type 2. Term loan/ Dropline Flexi/ Hybrid Flexi for LA >=5L
3. Only Term loan allowed in Red & Dark Red segment
Max Tenor As per FUW program
Minimum – 23 years at the time of loan application
Maximum – 55 years at the time of loan maturity
Age Norms
BSNL employees are allowed with maximum Age – 50 Yrs.
• CIBIL>=685 allowed
CIBIL Norms • As per Annexure 15.1
• DPD in last 6 months not allowed. Deviation on same as per current Deviation Matrix
• PL Score >650 allowed.
• PL Score <650 allowed with below condition.
PL Score
o Prime/ G1/ G2 Market then ABB >15k OR G3/ G4 Market then ABB >12k
o Max Applicable FOIR = 55%
Bounce & Delinquency
• As per Annexure 15.2
norms (On-Us)
Norms for BFL
• As per Annexure 15.3
Unsecured Loans
Marginal Segment
Not applicable
Norms
• Super Green, Green & Amber, Red Segment with ABB = 1 EMI
• Dark Red Segment allowed with below condition.
Risk Segment
o Prime/ G1/ G2 Market then ABB >15k OR G3/ G4 Market then ABB >12k
o Max Applicable FOIR = 55%
Majority BNPL – High Not allowed.
At least 1 BNPL / NO BNPL – High allowed with below condition
Leverage norms
o Prime/ G1/ G2 Market then ABB >15k OR G3/ G4 Market then ABB >12k
o Max Applicable FOIR = 55%
Geo Cluster Norms As per Annexure 15.5
Identity Checks As per Annexure 15.11
1. For Kolkata & Ahmedabad - minimum salary is 35k
2. For below locations, min salary is 30k
• Annex locations
• Hosur
• Nasik
• Aurangabad
Salary Norms
• Chandigarh
• Ludhiana
• Vadodara
• Mysore
3. For remaining Prime locations Minimum Salary is 40k
4. For G1 locations of Growth market Minimum Salary is 30k

Page No. 23
 5. For G2/ G3/ G4 locations Growth locations minimum salary is 27k
6. Deviation on variance in salary credited date is as per FUW policy
7. Variance in salary credited date >30 days is not allowed

• Employment vintage should be

Current Employment o >=1 months for listed company category employees and
Vintage o 6 months for unlisted companies
- No deviation allowed
• 70%
• For ABB >25k, Applicable FOIR will be 75%
FOIR • Max Applicable FOIR will be 55% for
o Dark Red Segment
o PL Score <650
o Leverage Category - At least 1 BNPL / NO BNPL – High
• ABB of last 6 months and Average Bank Balance of latest month should be >= 5000
ABB Norm
• ABB calculation basis min of ABB of last 6 months and ABB of latest month
Payslip – 1 months’ payslip to be documented.
In case of Add back, 3 months’ payslip is mandatory.
Addbacks allowed as per FUW policy.

Banking – min 6 calendar months banking required; salary credit to be checked every month.
Payslip & Banking
Salary transactions with IMPS, P2P, N2P, P2A, TPT or any other anomaly are considered
suspicious, in such cases – RSA needs to be raised

Disbursement & Repayment from Salary bank account only, no deviation allowed on this norm
Perfios/OCR/AA Mandatory in all cases in this program with authenticity as PASS
• For BFL/ MCA Listed companies - employment check norms As per Annexure 15.8

• For Unlisted companies EPFO is mandatory

Employment Check
o Office Email ID & Domain check both should be positive
o In case, Office Email ID or Domain check is not verified – Office Geo tagging is mandatory in
each case (VPD not allowed)
• Eligibility to be calculated basis ABB of last 6 months OR Average Bank Balance of latest
Eligibility month whichever is lower.
• Final eligibility is min of eligibility as per Multiplier, FOIR & ABB
Monthly Business
• Prime/ Growth/ Prof SAL – 15 Cr each
Capping
Mandatory Data entry checks to be done by Credit and to mention in Reco note.
1. Employer Name *
2. Employer Type (e.g., Pvt Ltd / Partnership /LLP)
3. EPFO establishment Date as per EPFO
4. Latest month employee strength as per EPFO
Credit Checks
5. ABB of Last 6 Months along with latest month ABB
6. Latest Salary along with salary credit Date
7. Official Email ID
8. In case Employer name is not present in Company Employer Master then Underwriter to
mandatorily mention company name in Loan application along with Others.
Deviation Matrix As per Annexure 15.12

Page No. 24
 7. GOVT Employee Program

Below company category allowed in SAL GOV program

1. State Govt Entity
2. Central Govt Entity
3. PSU
4. For below company categories, if “Industry Classification (Employer)” = Government Entity, then
only eligible for SAL GOV program
a. School
b. College
c. University
d. Hospital

Parameters Underwriter Checks

Program Cap 300 Cr for Prime & 250 Cr for Growth markets for FY24
Super
CAT GA CAT GB CAT GO
Grade Segment
Grade I/ Grade II Grade I/ Grade II Grade I/ Grade II Grade III
Salary NTH >=75K NTH >=50k – 75k NTH >=27k – 50k NTH >=27K
Locations As per attached location list
• Customer Category to be defined basis NTH (mentioned above) & customer profile
• All Grade III officers with below mentioned & similar profiles will be categorized as GO
(irrespective of NTH)
o Assistant
o Technician
o Operator
o Foreman
o Plant worker
o Supervisor
o Nurse Profile

Grade IV & Negative profile are not allowed. Below sample negative profile for reference,
o Drivers
o Sweepers
o Peons
Customer Profile
o Watchman
o Office boy
o Lift Operator
o MTS (Multi tasking Staff)
o Chaprasi
o Mali
o Security guards
o Driver
o Bus Conductor
o Coal field Employees
o Railway Employees
o Defense Employees

• Credit to verify customer profile at the time of processing the case

For GO category –
- Education certificate not required for salary >=50k
- Min educational qualification should be Graduation
Education - With ITI or Diploma Certificate max capping is 3L
Qualification
(Scan of original Final year marksheet/ Degree/ ITI/ Diploma Certificate will be considered for
Educational certificate with SM OSV)
• No Graduation certificate required for GA, GB, Super Segment
Minimum Loan Amount Min loan amount - 1 Lac
Super Segment CAT GA CAT GB CAT GO
- For PSU, Central
Maximum Loan Govt employee -
Amount 35Lacs 15L 10L 5L
- For State Govt
employee - 25Lacs

Page No. 25
 2 Years 2 Years 3 years 3 years
Total Employment experience => 3 years, (this norm not applicable for age Band 23-25)

Credit to confirm work exp basis-

Current Work a) Payslip where DOJ is mentioned Or
Experience b) FORM 16 Or
c) Confirmation letter, transfer letter, appointment letter Or
d) Bank statement where salary credit is reflecting

No deviation on current employment norms

Total Work Experience 3 years

Age As per FUW norms
As per Annexure 15.1
Bureau No-hit Bureau No-hit
CIBIL Norms allowed with allowed with
CIBIL Score <685 not CIBIL Score <685 not
- max 10 Lacs - max 10 Lacs
allowed allowed
- Max Age allowed is - Max Age allowed is
35 years 35 years
PL Score >=650
Bounce & Delinquency
As per Annexure 15.2
norms (On-Us)
BFL Unsecured Loans
As per Annexure 15.3
Norms
Only State Govt, Central Govt, PSU companies are allowed
Company category For School, College & Universities - if “Industry Classification (Employer)” = Government Entity,
then eligible for SAL GOV program.
Marginal Segment Not applicable excluding specifically mentioned
• Dark Red Segment not allowed
Risk Segments • In Prime market below segment not allowed
o Amber segment with NTH <75k
o Red segment with salary <1L &
• RCM Deviation for all segments
Leverage Norms • Location level salary norms to be met
• As per Annexure 15.6
Geo Cluster Norms As per Annexure 15.5
Identity Checks As per Annexure 15.11
Multiplier As per FUW policy
NTH 27K-40K - 60%
FOIR 70% 70% 60%
NTH- 40K - 50K - 70%
3 month’s Payslip required in all segments
Salary Slip
Payslip can be waived in Govt Employee Program if meeting NIP norms as per FUW program
Allowed with below norms,
• Certificate should not be more than 2 months old
• Supported by last 3 months salary credits in bank
Salary Certificate • Should be on company letter head duly signed & stamped with company seal in original
• Employee name should be mentioned
• Mismatch in salary heads or overwriting not acceptable

RCU signoff is required, if found suspected.

Salary Delay Salary delay allowed only till 30 days
Bank A/c Type Salary bank account only
Banking last 3 months banking
Norms for No Payslip
Not Applicable
Program
Clarification on Add
As per Annexure 15.15
Back
Monthly Rental income received by the applicant can be clubbed for doing eligibility calculations
subject to following:
Clubbing of Rental • Rental Agreement should be taken
income • Monthly rental should reflect continuously for last 6 months in bank statement
80% of Last 6 months average monthly rental receipts will be considered for eligibility
calculations
• Considered rental income will be capped at 15% of the average net salary of applicant

Page No. 26
 (Least of above 2 to be considered as rental income)
Eligibility will be calculated as:
Eligibility Calculation
Minimum (FOIR, Multiplier, Policy Capping, Loan Amount Required)
Loan Variant as Hybrid
As per FUW policy
Flexi
Max Tenure Loan
Variant as Term Loan/ 84 Months 84 Months 84 Months 60 Months
Dropline Flexi
Min Tenure 12 Months
Co-applicant norms Not allowed
• Karza check for ITR/ Form 26AS or
• TAN Check or
• HRMS portal of employer/ Online links for State/ PSU/ Central Govt employees or
• Official Email id confirmation & Domain Check or
• EPFO check positive or
• TVR at Office Landline with Company ID card allowed in PSU, State/ Central Govt or
• Email confirmation in TOPUP Cases is mandatory if available at existing LAN
Employment Check • Office geo tagging with employee ID card
o Existing Office geo tagging norms to be continued (Office verification for employment
check, wherever email, EPFO, TAN or Online check is not available)
o 3 Photographs to be submitted as per current process with mandatory Lat/long-
1. First Picture of Main entrance/gate/outside of building with area to be
seen
2. Second picture from inside the office premises
Third picture will be of Employee/PSF along with customer
• EPAN through NSDL website
• PAN linked with Aadhar, and applicant’s father name should be matching NSDL online
check
Identity Check • Karza check for ITR/ Form 26AS
*RSA to be raised for identity check in case of any of above condition is not met

Rest as per As per Annexure 15.11

The EMI cycle due date will be

EMI Due Date • 2nd if last 3 months salary credited on or before 2nd of every month
• 7th if last 3 months salary credited after 2nd of every month
Deviation Matrix As per Annexure 15.12

Page No. 27
 8. Bureau No-Hit (CIBIL 0/-1) Program

• The objective of this program is to source bureau No hit (CIBIL Score 0/-1) cases under SALPL.
• For SALPL Product, wherever CIBIL Score is 0/-1 from TransUnion then CRIF Score is getting triggered & cases getting
processed basis CRIF Score. This policy is applicable for cases of CIBIL Score 0/-1 & CRIF is also 0/-1.

Parameter Underwriting Check

Program Type/ Product Program Type - Bureau No-Hit Program
Program Product Program - MTS
Locations Only SALPL approved locations considered for sourcing from this program
Monthly Business Capping 25 Cr monthly capping (Prime 15 Cr, Growth 5 Cr & Prof SAL 5 Cr)
1. Allowed in Diamond/ Platinum/ Gold/ Silver/ Blue listed company category
2. Listed Govt employees allowed in Bureau No-hit program with below norms,
• EPAN is mandatory (UW to validate & attached the same in SFDC)
• Mobile verification from Karza mandatory in every case (UW to validate & attached
Eligible Companies
the same in SFDC)
• TAN check or Online website check is mandatory if employment check is not
verified through Email/ EPFO
• Geo tagging is mandatory in this program
Minimum – 23 years at the time of loan application
Age Norms
Maximum – 35 years at the time of loan application
Geo Cluster Norms As per Annexure 15.5
Identity Checks As per Annexure 15.11
As per existing SALPL norms
Minimum Net Salary
(Offer letter-based processing not allowed in this program)
Minimum Tenor: 12 Months

Term Loan – 60 Months

Dropline Flexi –60 months
Tenor Norms Hybrid Flexi – only 84 months allowed for LA > 5Lakh
(Pure Flexi Tenure as – 24 months & Dropline Flexi Tenure – 60 months)
1. No other combination of Tenure allowed in Hybrid Flexi other than total Tenure
of 84 months
2. No deviation is allowed on same
• For LA >=5L, Term/Dropline Flexi/ Hybrid Flexi allowed
Loan type
• For LA <5L, only Term & Dropline Flexi is allowed (Hybrid Flexi not allowed)
Minimum and Maximum • Min Loan amount – 1L
Loan Amount • Max Loan Amount – 10L
• FOIR – 60%
Eligibility
• Max Multiplier of 14x
• Payslip– 3 months’ payslip to be documented
• Banking – min 3 Months banking required; 3 months salary credited to be checked
• Salary transactions with IMPS, P2P, N2P, P2A, TPT or any other anomaly are
Payslip & Banking
considered suspicious, In such cases – RSA needs to be raised
• Disbursement & Repayment from Salary bank account only, no deviation allowed on
this norm
Perfios/OCR/ Account • Mandatory in all cases in this program
Aggregator • In case of Authenticity failed from Perfios/ OCR, then case is not allowed to process

• Email confirmation is mandatory without any deviation

Employment Check
• Rest as per Annexure 15.8
Credit needs to mandatorily validate checks as below:
• PAN should be validated from NSDL. If not validated through NSDL then Karza PAN
mandatory to be done.
• Mobile number validation to be done through Karza and number must be min. 6
Credit Checks
months old in Karza
o If Mobile no is reflecting in Bureau, no need to do Karza validation.
• Applicant name to be validated with Perfios/OCR/AA & NSDL/Karza & Bureau.
• Credit should check Secondary/External CIBIL in all the cases for derog
Deviation Matrix As per Annexure 15.12

Page No. 28
 9. Manufacturing Program

Objective

A separate product program for tapping employees from Manufacturing sector

Policy Parameters:

Parameters Underwriter Checks

1. FOIR – As per FUW policy norms
2. Additional kicker of 10% on FUW multiplier for current work experience >2 years in the
company
3. For current work experience <2 years, no additional kicker allowed
Eligibility Norms • Current work experience in the company to be validated from Date of Joining
mentioned in the salary slip
• In case date of joining not mentioned in salary slip, additionally Joining letter to be
documented to validate vintage
• Credit to validate the document & attach the same in SFDC

Locations All Sal PL approved Locations

Minimum and Max • As per existing SAL PL policy (Location/profile/segment capping)

Loan Amount • Tier wise capping as per FUW policy is applicable

Minimum Net Salary Minimum salary should be >=30k

Age Norms As per full underwriting policy norms

• As per Annexure 15.1

CIBIL Norms • For CIBIL 0/-1 If company is falling in manufacturing companies (list attached) is
Diamond/Platinum/Gold/ Silver/ Blue/ Govt entity, then CIBIL 0/-1 policy will be applicable
Bounce & Delinquency
As per Annexure 15.2
norms (On-Us)
BFL Unsecured Loans
As per Annexure 15.3
Norms
Marginal Segment As per Annexure 15.4
Leverage Norms As per Annexure 15.6
Geo Cluster Norms As per Annexure 15.5
Identity Checks As per Annexure 15.11
identifier for Eligible manufacturing companies in this program: “Industry Classification
Company category
Employer = Manufacturing Specific Program”
• Only Dark Red Segment not allowed
Risk Segments • In Prime market, Red & Amber segment with NTH <75k not allowed
• Sourcing not allowed in Growth market in Red segment
Income Documents As per current FUW norms

Loan type Term Loan, Dropline flexi & Hybrid flexi allowed in this program as per FUW policy norms

1. Sales manager to mandatorily select Program Type as “Manufacturing Program” at the time
of login. To be validated at Underwriting stage by Credit manager
Additional Norms
2. Any addition of companies in this program will be done on monthly basis post joint approval
from Business Head & Risk Head

Deviation Matrix As per Annexure 15.12

Page No. 29
 10. SAL LITE Program

Parameter Underwriting Check

Program name in SFDC SAL LITE Program
Locations For Prime & it’s Annex locations, G1
1. From >=27k upto 40k
Salary 2. Salary to be considered from AA or Perfios or OCR
3. Addbacks not allowed
• FOIR – Max Applicable FOIR as per FUW policy
Eligibility
• Multiplier - Max Applicable FOIR = 10x
Minimum and Max Loan • Min Loan amount – 1 Lakh
Amount • Max Loan Amount – 5 Lakh
Eligible Companies All BFL Listed companies
Loan type Term loan & Dropline Flexi
Max Tenor 60 Months
Minimum – 23 years at the time of loan acquisition
Age Norms Maximum – 45 years at the time of loan acquisition
Current Work experience >=6 months (This to be validated through Payslip or Joining letter or
Stability
Last 6 months salary credit banking)
Employment Check As per Annexure 15.8 from Consolidated policy document
Payslip – required as per FUW program.
Banking –
1. Account Aggregator or Perfios or OCR is mandatory.
2. min 6 calendar months banking required.
3. salary credit to be checked every month.
Payslip & Banking
Salary transactions with IMPS, P2P, N2P, P2A, TPT or any other anomaly are considered
suspicious, in such cases – RSA needs to be raised.

Disbursement & Repayment from Salary bank account only, no deviation allowed on this norm
• CIBIL>=700 allowed
CIBIL Norms
• Rest as per Annexure 15.1 from Consolidated policy document
PL Score • PL Score >650 allowed
Bounce & Delinquency
• As per Annexure 15.2 from Consolidated policy document
norms (On-Us)
Norms for BFL Unsecured
• As per Annexure 15.3 from Consolidated policy document
Loans
Marginal Segment Norms Not applicable excluding specifically mentioned
Risk Segment Red & Dark Red Segment not allowed

1. Majority BNPL – High Not allowed.

Leverage norms 2. At least 1 BNPL / NO BNPL – High not allowed.
3. >=5 PL/BL enquiries in last 1 month not allowed
Identity Checks As per Annexure 15.11

Deviation Matrix As per Annexure 15.12 from Consolidated policy document

Geo tagging Mandatory in this program
Product limitation profile As per Annexure 15.13 from Consolidated policy document
Program Capping Volume capping of 15 Cr

Page No. 30
 11. MTS Program

Objective – The objective of the program is to allow customers falling in marginal segments and are not allowed in SALPL
existing policy

Policy Parameter Norms

Program Type/ Product MTS
Program
• Loan can be process in MTS Program with PLCS live offer only when there is live
CD_SPL_PREAPP_PREFERRED offer is available for customer
BFL Existing customer
• B2B customer with <=5 MOB is allowed with
norms
o salary >= 75K in Prime
o salary >= 50K in Growth
Location Master Only Low & Medium delinquency Geo cluster segment
Leverage Norms As per Annexure 15.6
If customer falls in marginal segment in FUW Policy, then case can be processed in this program
if any of the below norms are met:
Segment Prime Locations *Prime T2 / Annex/ Growth
PL Score - PL Score <=718 allowed in Low & Medium
delinquency cluster. This norm is
Segments Allowed applicable on Growth market only.
NO DPD (OFF US) DPD in 5/6 months is allowed DPD in 5/6 months is allowed with Salary
in last 4 months with Salary >=75K >=50K
Marginal Allowed with Salary >=50K Allowed with Salary >=40K
Segment Allowed with Salary 40K -50K Allowed with Salary 30K-40K and having
and having CC (Ever) CC or HL (ever)
Minimum – 25 years at the time of loan application
Age Maximum – 55 years at the time of loan application
BSNL employees are allowed with maximum Age – 50 Yrs.
Minimum Loan Amount 1 Lacs
• For Super Green & Green Max loan capped to be 12Lacs if ever HL else
Maximum Loan Amount • 10 Lacs
• 8 Lacs in Dark Red segment
1. Dark Red segment allowed in MTS program in Prime market if ever HL in Bureau
2. In Delhi/ Bangalore & it’s annex location segment allowed with below condition in MTS
Program
Risk Segment
• Amber segment allowed with ever HL in CIBIL report
• Red segment allowed with ever HL in CIBIL report with salary >1L
• Dark Red Segment NOT Allowed
Prime: 15.00%
Min. IRR
Growth: 15.50%
Tenor & Loan Variant As per FUW norms
1. For Kolkata & Ahmedabad - minimum salary is 35k
2. For remaining Prime locations Minimum Salary is 40k
3. For below locations & Growth market, min salary is 30k
a. Annex locations
b. Hosur
Salary c. Nasik
d. Aurangabad
e. Chandigarh
f. Ludhiana
g. Vadodara
h. Mysore
Multiplier 10x
• For Prime, Annex, G1 & G2 Market - As per FUW norms
• For G3 & G4 market, as per below grid,
FOIR
Salary < 50K >=50K
Applicable FOIR 60% 70%
Salary Slip 1 month salary slip is mandatory
Bank A/c Type Salary bank account only

Page No. 31
Policy Parameter Norms
Bank Statements Minimum 3 months bank statement is required
Employment Check As per Annexure 15.8
As per FUW norms except below norm,
- No DPD in last 4 months
- DPD in 5/6 months is allowed with Salary >=75K in Prime market
- DPD in 5/6 months is allowed with Salary >=75K in Growth, Annex & Prime T2 market
CIBIL Parameters
(Off-Us) • Deviation on bureau norms as per FUW policy
• Min CIBIL cut-off in MTS Program is 650 except Dark Red Segment (subject to other MTS
program norms to be met)
o NO deviation on CIBIL Score <650 in MTS program

Bounce & Delinquency

As per Annexure 15.2
norms (On-Us)
BFL Unsecured Loans As per Annexure 15.3
norms
Total Employment experience norms as below,
• 3 years
• Employment Experience deviation to be with ACM if <3Yrs total experience as per FUW policy
Employment Experience
• No deviation on Total work exp <1 year

Current work exp = >1 month

Clubbing of other Not allowed, case will be process with net take home salary only
income Only monthly/ quarterly Incentive can be added in salary
Co-applicant norms Not allowed
Norms for No Payslip
Not Applicable
Program
Account Aggregator/
Perfios/ OCR Status As per Annexure 15.9
Check
Geo Tagging As per Annexure 15.10
Geographical limits As per FUW norms
Negative area As per FUW norms
2nd of every month
EMI Due Date No other due date will be allowed.
*No Deviation allowed for EMI due date change
Identity Checks As per Annexure 15.11
Program Cap 8% of monthly volume

Page No. 32
 12. DOE1 – Unlisted

Parameter Underwriting Check

Program Type/ Product Program Type - DOE1 – Unlisted
Program Product Program - MTS
Locations All SALPL live Locations with Low delinquency Geo cluster
Min LA – 1L
Loan Amount
Max LA – 15L
Only MCA registered companies
Eligible Companies Negative Sector not allowed.
• Credit to attach MCA website screen shot with company name in SFDC
Loan type Term Loan, Dropline Flexi & Hybrid Flexi allowed
Tenure As per FUW norms
• Minimum salary in Prime & Annex >=50k
• Minimum salary in G1 & G2 from Growth & Nashik, Aurangabad, Chandigarh, Ludhiana,
Minimum Net Salary
Mysore, Vadodara from Prime >=40K
• Minimum salary in G3 & G4 >=35K
Age Norms As per FUW policy
Work experience As per FUW policy
• CIBIL Score >=720
CIBIL Score/ PL Score • PL Score >=650
Norms • Only Bureau Thick (as per annexure 14.2) customers allowed
• Rest as per FUW Policy norms
On US Bounce/
As per FUW policy
delinquency & MOB norms
Risk Segment Only Super Green & Green segment allowed
• Max multiplier of 10 on Net Take Home (NTH) Salary
Eligibility
• FOIR as per FUW policy
• Last 6 months banking with salary credit
• Bank verification to be done only from below medium
Banking Norms 1. Account Aggregator
2. OCR
3. Perfios (Net-Banking or PDF Perfios)
4. Covert
Applicable
Leverage
NO deviation allowed in High Severity leverage norms
Employment
EPFO check is mandatory
confirmation
• Delhi, Mumbai & Chennai & it's annex locations - Allowed with Super Green segment
Additional Norms • NO deviation on Leverage norms, Standard Derog & EMI bounce
• For Delhi, Max LA capping of 8L

Page No. 33
 13. SALPL ETB DOE

Parameter Underwriting Check

Program name in SFDC SALPL ETB DOE
Locations All SALPL Approved live locations
Salary Min salary >=50k
• FOIR – as per FUW program for respective market,
Eligibility
• Multiplier – As per FUW policy
ABB Norms Last 6 months ABB should be >=5k
Min Loan amount – 1L
Minimum and Max Loan Amount
Max Loan amount – As per FUW policy
Eligible Companies Allowed only in BFL Listed company category
Loan type As per FUW Program norms
Max Tenor As per FUW Program norms
Age Norms As per FUW Program norms
Employment Check As per FUW Program norms
Payslip – required as per FUW program
Payslip & Banking
Banking – 6 months banking required
• CIBIL As per FUW Program norms
CIBIL Norms
• Only Bureau Thick (as per annexure 14.2) customer allowed in this program
PL Score Not applicable

Bounce & Delinquency norms (On-Us) As per Annexure 15.2 from Consolidated policy document

Norms for BFL Unsecured Loans As per Annexure 15.3 from Consolidated policy document
Not applicable if below conditions are met
1. BFL SALPL ETB Customer AND
Marginal Segment Norms
2. HL (Ever) in CIBIL report AND
3. Live Credit Card in CIBIL report
Risk Segment Dark Red segment not allowed
• Majority BNPL – High Not allowed.
Leverage norms
• PL/BL Enquiry >=6 in last 1 month not allowed
Identity Checks As per Annexure 15.11
Deviation Matrix As per Annexure 15.12 from Consolidated policy document
Geo tagging As per FUW Program norms
Capping Monthly 20 Cr

Page No. 34
 14. Annexure

14.1 CIBIL Norms

1. CIBIL Score >=685

o CIBIL <685 with salary >2L is allowed in Prime & Annex
2. No DPD (less than 30 DPD) in last 6 months
3. No 30+ DPD allowed in last 12 months except credit card
4. W/off with w/off amount > 500 (loans) & 1500 (Card). No W/off amount will also be considered as derog
5. SMA /DBT/ SUB/LSS/90+ < 5 yrs. AND Overdue amount > 500 (Loans) / 1500 (Cards)
6. Ever 60+ DPD in last 36 months AND Overdue amount > 500 (Loans) / 1500 (Cards)
7. Ever 30+ in 6 months
8. Overdue Amount > 500 (Loans) / 1500 (Cards) in last 6 month
9. Restructured within 5 yrs. (Restructure due to covid-19 to be excluded)
10. Current Outstanding on all Credit cards >= Rs 10 Lacs – Not Allowed

Deviation allowed as per deviation matrix (refer Annexure 15.12)

14.2 Bureau Thick/ Thin Definition

Bureau Thick Logic

Loan Type Prime G1/ G2/ G3/ G4
Housing Loan >= 22,00,000 >= 15,00,000
Property Loan >= 10,00,000 >= 9,90,000
Personal Loan >= 2,00,000 >= 2,00,000
Business Loan >= 2,00,000 >= 2,00,000
Auto Loan >= 5,40,000 >= 5,00,000
Credit Card >= 1,20,000 >= 90,000

Any case not meeting above norms will be considered as Thin

14.3 Bounce & Delinquency norms (On-Us)

Underwriter to check dedupe from Customer360 as well as SFDC.

Delinquency norms to be check at Customer ID level at Credit Underwriting stage

1. Current Bucket >0
2. No bounce in last 3 months
3. Not more than 1 bounce in last 6 months (should be paid within 10 days)
4. Not more than 2 bounce in last 12 months (should be paid within 10 days)
5. Not more than 4 bounce in last 24 months.
6. Sourcing to be allowed if ON US W/OFF amount.
• <100 without deviation
• From >=100 to 2000 with vintage >3 Years with ZCM deviation
• >2000 not allowed to source however for monitoring & compliance below conditions to be excluded,
o Status as of previous end of day shall be considered.
o Cases to be excluded In case where linking/de-linking in Cust ID’s of customers.
o Intraday change in PAN ID’s of customers leads to linking/de-linking of customer ID’s to be excluded
7. On us Restructure not allowed
8. On us Settled – not allowed.

VAS Product bounce not to be considered for exclusion.

Deviation allowed as per deviation matrix (refer Annexure 15.12)

Page No. 35
14.4 BFL Unsecured Loan norms
Underwriter to check dedupe from Customer360 as well as SFDC.
1. Any top-up/parallel loan (Master Line enhancement) is allowed after 6 mob only under full underwriting norms. (6
MOB to be counted from First Due Date)
2. Only one top-up allowed between 6-12 MOB.
3. Sourcing not allowed in any program for customers availed BFL unsecured disbursement (SALPL, PLCS, Rural,
BFSD, PSBL, Prof Loan, Personal loan for Purchase of Two W) in last 6 months. In case, BFL Unsecured Loan is
availed in last 6 months & is foreclosed, then above norms are not applicable.
4. At a customer level, customer cannot have more than 2 SALPL live loans running with BFL.

(Closed loans not to be considered in above 4 points)

5. BFSD Loan obligation to be considered in FOIR while processing SALPL eligibility.

6. Live BFL PLCS customer not to be funded in SAL PL
7. If PLCS Loan is closed, then 1-month cooling period is required.
Deviation on above 2 norms to be approved by Business Head

8. If FUW Top-up is being processed- all existing live SALPL loans are required to be closed, sanction condition to be
marked at Underwriting stage.
9. At a customer level, multiple hybrid loans are allowed.
10. Count of Unsecured live loans from BFL - At customer level, max 3 LIVE Unsecured Loans allowed (including BFSD)
11. Count of BFL live loan - At customer level, max 7 LIVE Loans allowed (excluding Secured – only mortgages/CC/GL/
VAS)

14.5 Geo Cluster Norms

Parameter High Delinquency Medium Delinquency Low Delinquency

>=720 allowed to
source
CIBIL Score >=685 allowed to source >=685 allowed to source
(Bureau No-hit also
not allowed)
Red Segment not • Red Segment allowed
allowed. Red Segment not allowed with Salary >=1Lac in
Risk Segment
(Except ABB & MTS (Except ABB & MTS Program) Prime
Program) • Not allowed in Growth

Applicable multiplier in Super Green – 14x Super Green – 16x

10x
Pvt ltd Company category Green – 12x Green – 14x

14.6 Leverage Norms

Leverage norms will reflect in Full Eligibility, Customer Details & POI PAN activity tab in loan application under new
section named Leverage Check

Leverage Category Processing Condition

At least 1 BNPL / NO BNPL - Low Leverage Deviation not required
At least 1 BNPL / NO BNPL – Medium Leverage Deviation not required
Majority BNPL – Low Leverage Deviation not required
Majority BNPL – Medium Leverage Deviation not required
At least 1 BNPL / NO BNPL - High Allowed in MTS program
Majority BNPL – High Not allowed to process
• No exception allowed in count of Enquiries basis same day enquiry.
• BFL enquiries not to be counted.
• No change in existing marginal segment/ risk segmentation norms

Page No. 36
14.7 Marginal Segment Norms

Sr Marginal Segment Eligible Program

1. MTS program with below norms
- in Prime with HL with Max LA
capping of 8L
- Not allowed in Delhi/ NCR, Mumbai
& Bangalore & it's Annex
1 Dark Red Segment not allowed for SAL ETB/ NTB customer
- Allowed in Growth market with LA
capping of 10L
2. ABB Program with program norms
3. Employee Loan (GB 04A & above
with SCO deviation)
Allowed in below Programs
1. ABB Program,
2. MTS Program if below norms met -
- Thick Bureau AND Ever HL in CIBIL
report OR
- salary >=1.5L allowed in MTS
3. SAL Government product program
4. Bureau No-HIT Program
2 SALPL NTB Customer with Revised Risk Segment Amber / Red Segment
5. Employee loan
6. Not allowed in any program in
Delhi/ NCR, Bangalore & it's Annex if
below norms not met
- Amber segment allowed with
ever HL in CIBIL report
- Red segment allowed with ever
HL in CIBIL report with salary >1L
Red & Dark Red Segment not allowed in State Govt Entity, Unlisted company,
3 MTS Program, ABB Program
Delisted & Private Limited company category for SALPL ETB/ NTB customer
Unlisted company category allowed with below norms only for SALPL ETB/
NTB customer
a. In Prime market, in Super Green segment Salary >50k
b. In Prime market, Salary >1Lac in Green & Amber Segment
c. In Prime market, Amber is allowed in MTS provided MTS policy norms are
4 met ABB Program
d. In Delhi/ NCR, Mumbai, Chennai location & it's annex unlisted not allowed
except Super Green Segment
e. In Bangalore & it's annex locations, unlisted company with HL is
mandatory in CIBIL report in Green & Amber Segment
e. Red & Dark Red not allowed in any market
1. Not allowed in any program
PL/BL Enquiry >=6 in last 1 month not allowed for SALPL ETB/ NTB customer
5 2. Allowed in Employee Loan with SCO
- BFL Enquiry not to be counted
Deviation for GB 04A & Above
6 BNPL (LIVE) >=7 not allowed to source for SALPL ETB/ NTB customer MTS Program, ABB Program
>=10 Live unsecured loan at the time of acquisition not allowed to source for
7 Not allowed in any Program
SALPL ETB/ NTB customer (BFL unsecured loans not to be counted)
Live Unsecured loan Count >=4 at the time of acquisition (LA >=10k) in Amber,
8 Red Segment with salary <2L not allowed in for SALPL ETB/ NTB customer Not allowed in any Program
(BFL unsecured loans not to be counted)
Bureau Thin customer having >=7 enquiries in last 12 months having salary
9 MTS program
<1.5L is not allowed for SALPL ETB/ NTB customer
CC outstanding of >6x of salary
a. CC outstanding of >6x of salary AND Salary <75k Not Allowed
b. CC outstanding of >6x of salary AND Salary >=75k – 1.5L – allowed with
NCM deviation
10 No exception allowed
c. No deviation required in below scenario,
- CC outstanding of >6x of salary AND Salary >=1.5L
- CC outstanding of <6x of salary
d. CC O/S >=10L not allowed in any non-income based program
No CC ever in CIBIL report with NO HL in CIBIL report for SALPL ETB/ NTB
customer No exception allowed except SAL LITE
11
- with Salary <50k not allowed to source in Prime Market Program
- with Salary <40k not allowed to source in Growth Market

Page No. 37
 For Age <30 years with customer having no HL ever & working in Unlisted
12 MTS Program
(Unlisted/ Delisted/ Unlisted LLP) not allowed c
ABB <5k except Super Green segment Not Allowed to source
a. In Prime market – for Delhi, Bengaluru & it’s Annex locations not
allowed in any program MTS Program & Non income
13
b. In Growth Market, this norm is not applicable for Customer with salary assessment based programs
bank account in bank’s which are not available for Either AA OR Perfios OR
OCR (i.e. Gramin banks, Co-operative Banks)
For SALPL ETB/ NTB customer with Majority BNPL with salary <1.5L+
a. Majority BNPL – Low & Medium for salary as per location level salary
norms in Super Green segment
b. Majority BNPL – Low & Medium allowed for other than Super Green MTS Program, ABB Program & non
14
segment only if income assessment based programs
- salary >1.5L in Prime market
- salary >=75k in Growth market
c. Majority BNPL – High Not Allowed in Any Program
In Prime & Annex locations, PL score <=650 with NTH <75k not allowed to MTS Program & Non income
15
source for SALPL ETB/ NTB customer assessment based programs
In Growth locations, PL score <=718 with NTH <75k not allowed to source for MTS Program & Non income
16
SALPL ETB/ NTB customer assessment based programs
17 State Govt Employee with NTH <50k not allowed in Prime, Annex market. SAL Govt
18 Sourcing from Govt Hospitals will be restricted for Delhi & it’s Annex locations. Not allowed in any Program
19 Net take home salary <50k not allowed to source for all Railway Employees Not allowed in any Program
Sourcing not allowed in State Govt Entity, Central Govt Entity, PSU &
Unlisted/Delisted/ Unlisted LLP company category in below locations of
Growth market in any program.

DHARAMSHAL
MENJERI KASHIPUR ANGUL KARAIKUDI
A
20
VIZIANAGARA HINDUPU PAYYANNU
VADAKARA NARAINGARH
M R R
RAGHUNATHPU VIKASNAGA
ONGOLE NAINITAL TALCHER
R R
ELURU ARAMBAGH TARKESHWAR

In below locations of Haryana state, Red segment not allowed with salary
<50k in any program.

SONEPAT KURUKSHETRA JHAJJAR AMBALA

SIRSA KARNAL JAGADHARI HANSI
21 Not allowed in any Program
ROHATAK KALKA HISSAR NARAINGARH
REWARI KAITHAL GHARAUNDA PEHOWA
PANIPAT JIND BHIWANI FATEHABAD
SHAHBAD MARKANDA PALWAL

Sourcing of Red, Dark Red segment & Amber segment with <75k not allowed
22
in any program in Uttar Pradesh State in Growth locations.
In locations Lucknow, Goa, Gwalior, Meerut, Bhiwadi, Jalandhar, Palwal,
23 Anantpur, Bhiwani, Bikaner, Eluru MTS Program, ABB Program
– State Govt Entity & Unlisted category not allowed
Sourcing of Amber & Red segment with salary <50k not allowed in Assam,
24 Goa, Haryana, Jharkhand, Punjab, Rajasthan state MTS Program, ABB Program

In below locations of Mizoram, Tripura & Sikkim state, only Term Loan allowed
for salary <50k

• Sikkim
25 Not allowed in any Program
GANGTOK SINGTAM JORETHANG SK

➢ Location of Mizoram State – Aizawl

➢ Location of Tripura State – Agartala
Max Loan amount capped for PL SCORE <710 in Prime markets
26 SALPL ETB DOE, Employee Program
Risk Segment Super Green Green Amber Red Dark Red
Max LA Capping 15L 12L 10L 8L 0
27 At least 1 BNPL / NO BNPL - High MTS Program

Page No. 38
 In 100% BT program
1. Unlisted Company category not allowed
2. Axis Bank & TATA Capital not allowed in 100% BT/ MTS 100% BT & Govt
100% BT Program in Delhi & Bangalore and their respective Annex location
3. In Delhi, Mumbai, Hyderabad & their Annex locations 100% BT not allowed if
below norms met
- >=3 live unsecured loan in CIBIL report at the time of acquisition AND
28 Specific norms for 100% BT program
- No HL in CIBIL report
4. If latest Existing SALPL Loan processed in Non-salary based program, then
cannot process 100% BT Programs for SAL ETB customer
5. Above 100% BT Program not allowed for SAL ETB customers where
customers has taken off us unsecured loan with LA >1L within 30 days before
or 30 days after our existing SALPL loan
6. Age >=51 years not allowed
Allowed in
1. MTS,
2. Employee program,
3. SAL LITE Program
4. Non-Salary Based programs
29 ABB <5k except Super Green segment allowed to source
In Prime market –
i. For Delhi, Bengaluru & it’s Annex
locations not allowed in any program
except Non-Salary Based programs
Stock Broking/ Securities
- Not allowed in any program if >=3 NON BFL live Unsecured loans (LA >=50k)
- Indian Bank Backed Broking/ securities companies are allowed (i.e., HDFC
30 No exception allowed
Securities/ ICICI Direct, etc)
- Non-Indian Bank Backed Broking/ securities companies are not allowed
(i.e., Angel Broking, karvy, etc)
NBFC’s
31 - Not allowed in any program if >=3 NON BFL live Unsecured loans (LA >=50k) No exception allowed
- Max LA capping of 10L for NBFC’s listed in Pvt ltd category

32 Listed and Unlisted Manpower Outsourcing/ Recruitment/ Staffing

companies are not allowed to source in any program. No exception allowed

Marginal segment cases allowed to process with below intervention,

1. NCM Deviation
2. Net taken home salary >=50k
3. Eligibility to be reduced by 20% (i.e., if case is eligible for 15L, then max eligible loan amount with high severity
will be 12L)
4. No change overall exposure norms

14.8 Risk Segmentation

In SALPL Business, Risk segment derived from crossbanding of 2 scorecards (i.e., Risk Segments (RB1/RB2/RB3/RB4/RB5/
NTC which is derived from Analytical model) & PL Score)

PL Score is TransUnion scorecard received from bureau in consumer CIR.

There is no change in Revised Risk Segment (Super Green, Green, Amber, Red, Dark Red) which are getting used for
eligibility/ marginal segments.

Revised Risk Segment (Combination of New Risk Segment and PL Score)

New Risk Segment
DARK RED RED AMBER GREEN SUPER GREEN
RB5 Null/ Blank/ -1/ 000-1/ >0
RB4 <=710 >710 & <=795 >795
RB3 <=710 >710
RB2 <=795 >795
RB1 Null/ Blank/ -1/ 000-1/ >0
Null/ Blank/ -
NTC
1/ 000-1/ >0

Page No. 39
14.9 Employment check
➢ Employment Check
1. Official Email id confirmation & Domain Check OR
2. EPFO check positive OR
3. TAN Check (TAN to be considered of FY22-23) for Govt employees OR
4. Online Employment checks for Govt employees (link available in Annexure 15.13) OR
5. TVR at Office Landline with Company ID card only allowed in State/ Central Govt, School, College, Universities OR
6. RSA

➢ Additional employment check norms:

1. Email confirmation in TOPUP Cases is mandatory if available at existing LAN and no change in employer
2. Office mail confirmation or HR confirmation from generic mail ID not allowed
3. Non-Government Employee, E-mail mandatory for cases with previous cases with email
4. With official e-mail id check, Credit also needs to check “Employee Provident Fund details” basis PF deduction
available in payslip
• IF PF deduction seen in payslip, then EPFO should be mandatorily positive

5. Below process to be followed if cases is processed only basis EPFO (Employment Check)
• UAN details to be validated - Demog details to be match with epfigms website using link
(https://epfigms.gov.in/Grievance/GrievanceMaster )
• Screen shot to be attach in SFDC
• If details are not matching/ mismatched, then PF statement to be asked if applicant not having PF statement
then only RSA to be raised
• PF Statement to be attach in SFDC, if case getting processed basis PF statement

6. Employment confirmation to be mandatorily done by Office mail confirmation for all employees working with
Accenture group, Cognizant Group, Meta (employees of Facebook, Instagram, WhatsApp), Twitter, Zomato,
CISCO, Reliance, Oracle, Samsung till further communication

7. Cases where there is no official email or EPFO for employment confirmation, and is processed based on ID Card
and Geo-tagging, following to be done: -
• If TAN check is positive, current process to follow.
• If TAN check is negative, cases to be forwarded to RCU team, and approved only post confirmation from
them

8. Screen shot should be attached in SFDC where employment check is done basis TAN, TVR & through website

9. No employment confirmation required for Govt cases if employment is not changed. This is applicable for
following programs for customers with age <50 years –
• Pre-approved Top-up Live
• SALPL ETB customer processing in Full UW Top-up/Parallel program

➢ Domain Check –

Domain Check should be positive. Credit shall check:

1. Domain created date of employer:
• If domain is greater than two years old and is “NOT OK” as per system then please route this with your
respective RCM’s (case can still be raised to RCU, if suspicious)
• RSA to be raise in <2 years Domain cases if 1st time login (case can still be raised to RCU, if suspicious)

2. Company Name in domain check (To match with Company name in SFDC & Pay slip)
• Domain created API not stamped, RCM deviation required with valid checks & supporting screen shot
• Domain not matched with MCA, RCM deviation required with valid checks & supporting screen shot (case can
still be raised to RCU, if suspicious)
• In case of company acquire by another company due to which domain is mismatch, then ACM can approve
the same (i.e., domain mismatch due to Merger of Aakash & Byju’s)
3. Domain Check “Not Ok” but EPFO done is “Positive” to be processed with ACM deviation
4. Domain Check “Not Ok” and EPFO not done is “Positive” to be processed with RCM deviation

➢ TAN Check –
• TAN check should be positive for latest financial year
• Count of Records Present >0
• Type of Return should be Salary
• Screen shot of positive TAN check should be attached in SFDC

Page No. 40
 ➢ Online Link Check–
• Screen shot of positive TAN check should be attached in SFDC

➢ TVR –
• TVR is only allowed in State/ Central Govt, School, College, Universities
• TVR should be done at Office Landline number only
• Screen shot of Source of Office landline number (Google, company website, etc) should be attached in SFDC

14.10 Bank Verification Norms

Account Aggregator/ Perfios Net Banking
If Account Aggregator or Perfios Net Banking is done, then no Covert Required

Type of Verification Status Statement Status Action

Priority-wise actions as below
A. If EPDF is there
1. OCR
2. Perfios by statement upload
Account Aggregator Fail Not Verified
3. Covert

B. If EPDF is not there

1. Perfios Net-banking

Perfios PDF upload/ OCR

If Perfios Statement Status “Fraud” then mandatorily need Net Banking Perfios
Covert verification Not allowed as they only check for salary credits.

Actions on Perfios PDF uploaded as below,

Authenticity Bank Name Perfios statement status Action
Score Flag
Pass Verified OK (No Covert)
Account Aggregator Or Net Banking
Fail Refer
All Banks Perfios Or Covert is mandatory
Account Aggregator Or
Fail Fraud
Net Banking Perfios

No Perfios
If no Perfios is done (AA/ Net banking / PDF upload/ OCR) and physical statements are submitted, then Covert to be
mandatory in all cases

Covert check
Covert Management Services limited is the name of the company on which this check is named. In Sal Pl we use their
services for Banking verification where we provide Name and Bank Account number of the applicant to the company,
and they provide back salary of the applicant.
Covert helps to cross check salary details mentioned in Bank statement for any suspected fraud bank statements
List of Banks Covered by Verification Agency

S.NO Bank Name S.NO Bank Name

1 HDFC BANK LTD 12 INDIAN OVERSEAS BANK
2 ICICI BANK LTD 13 INDUSIND BANK
3 AXIS BANK LTD 14 KARNATAKA BANK
4 BANK OF BARODA 15 KARUR VYSA BANK
5 CANARA BANK 16 KOTAK MAHINDRA BANK
6 CENTRAL BANK OF INDIA 17 PUNJAB NATIONAL BANK
7 DCB BANK LTD 18 RATNAKAR BANK LTD
8 FEDERAL BANK LTD 19 STANDARD CHARTERED BANK
9 HSBC BANK 20 STATE BANK OF INDIA
10 IDBI BANK 21 UNION BANK OF INDIA
11 INDIAN BANK 22 YES BANK LTD

Sales Visit along with Digital Sampling would be done where applicant Salary Credit Bank is not under coverage of AA/
OCR/ Perfios/ Covert Bank checks.
1. For cases where Sales Visit done, below norms to be followed.

Page No. 41
 a. Visit to branch by BFL On-Roll Sales manager is mandatory along with Customer
b. Location head (with Employee Band GB 06 & above only) approval is mandatorily documented in Prime / NSM
approval mandatory documented in Growth after BFL On-Roll Sales manager’s visit.
c. Geo tagged pictures to be documented with Customer from bank premises.
i. SM goes to branch update the transactions on Passbook/Bank Statement in front of him through
bank manager / Machine with Geo tagging.
ii. SM goes to branch, takes print out statement in front of him, confirm verbally the last credited Salary
amount with bank manager, Get the Geo tagging done with customer in branch.
d. Digital sampling is mandatory for cases where Sales visit done for bank verification.
i. If DS report is Screened, then we can proceed ahead.
ii. If DS report is Sampled, then cases to referred to RSA.

Note – Credit shall also check Salary narration for any fraud instances.

Suspicious Transactions (For both Perfios and Non Perfios cases)

Salary transactions with IMPS, P2P, N2P, P2A, TPT or any other anomaly are considered suspicious. For any such
suspicious transactions below process to be followed:
• In Unlisted companies’ cases with Suspicious transactions shall be routed through RCU as a part of RSA
framework
• In Listed companies such suspicious transactions are triggers, credit to cross check with transactions of same
companies in past. If not validated same shall be referred to RCU stating the suspected reason under RSA

Below process needs to be followed for Banks where covert doesn’t have a Tie-up
1) This process to be allowed for banks which Covert does not have tie-up. Other than the attached banks/list,
Co-operative bank is passed on to RCU for verification
2) SM to do a geo-tag at the bank when he/she goes for getting it stamped at the bank – Credit to check for the
geotag before such cases are approved

14.11 Geo tagging Norms

Geo tagging to be done if below norms met:

1. Bureau No-Hit Program
2. Manpower sourcing company
3. Approved Loan Amount >=20L
4. Not meeting Waiver Norm
5. Not meeting Waiver Norm with VKYC

Geo tagging Waiver Norm

Geo tagging can be waived if case is meeting all below norms:
1. Loan Amount <20L
2. Current address proof is not DOVD
3. Salary >=75k
4. Super Green & Green Segment
5. HL ever in Bureau OR Electricity bill in the name of applicant (electricity bill to be documented in
SFDC)
6. Email Confirmation (NON Govt employees) / TAN Check (for Govt employees) for cases meeting
above norms for Geo tagging waiver.
Credit to verify above details for Geo Tagging waiver.

Geo tagging Waiver Norm with VKYC

Geo tagging can be waived & case can be processed basis VKYC if below norms are met:
1. Prime Salary >=75k & Annex & Growth Salary >=50k AND
2. HL ever in Bureau OR Electricity bill in the name of applicant (electricity bill to be documented in
SFDC)
OR
1. Prime Salary >=75k & Annex & Growth Salary >=50k AND
2. Current work experience >=3 years (to be validated by UW through Salary slip or Form 26As or
Mobile Based EPFO)
OR

Page No. 42
 1. If Applicant’s Current residence address is matching with AA/ Perfios/ OCR Address AND
provided address proof is not Deemed OVD.
OR
1. Existing BFL SALPL Customer with same residence address as previous loan account

• VKYC to be completed along with LAT & LONG details wherever Geo tagging is applicable either at
current residence address or at office address
• Credit to validate Geo co-ordinated updated in VKYC with current address or office address. If co-
ordinates are of any other address (neither office/nor current address) then case is not allowed to
process basis VKYC

Please note -
1. Geo tagging not required in Employee Loan, LINE Program & Pre-approved TOPUP Program with
10% increment.
2. For cases getting processed on last day of the month Geo tagging or VKYC not required except
below profile,
• For work from home Profile - VKYC mandatory at residence
• Bureau No-Hit Program - Geo tagging Mandatory

Additional Norms:
1. Login branch should be current residence address city.
2. Permanent Address needs to be captured in system for all cases.
3. Credit to mandatorily verify permanent address in Tele Verification along with ownership type of
permanent address.
4. If current residence & office are in same city then, Geo tagging required either at current residence
or Office address.
5. If current residence & office are not in same city, then Geo tagging mandatorily required at
residence address.
6. Photos without Geo Co-ordinates are not allowed.
7. Geo tagging can be done at Residence address or Office address.
8. 3 Photos (Selfie, with customer & Main entrance/Gate/Outside of building with nearby area) to be
submitted with mandatory Lat/Long

Sr Residence Address Office Address

No
Photo with customer covering Main Photo with customer covering Main
1 entrance/Gate/Outside of building with entrance/Gate/Outside of building with nearby area
nearby area to be seen to be seen
Photo with customer from outside the office
2 Photo with customer from inside the house
premised with office name board
Selfie with customer by BFL On-roll Employee/PSF
Selfie with customer by BFL On-roll
3 either from inside office premises or outside office
Employee/PSF
premises, in case of entry restricted

9. Credit Checks -
• Current work experience & residence type should be validated with provided or with customer
during Tele-verification.
• Mark sanction condition wherever geo tagging is required.
• Pictures with Geo co-ordinates should be attached in respective section of Geo Tagging only
• Check LAT/ Long details in provided pictures.
• Geo tagging to be fulfilled before disbursement of the file.

Page No. 43
 14.12 Identity Checks

Underwriter to perform below checks at underwriting stage -

PAN needs to be validated mandatory through below:
• NSDL PAN check
o NSDL PAN check result to be checked for each case in SFDC.
o PAN should be Exiting and valid &
o Name should match with name in SFDC.
o If there is complete mismatch in Name fetched from NSDL compared to Name in application, then case is not
allowed to be processed.
o If system API of NSDL is not working, then both to be done manually

• CIBIL PAN check

o CIBIL PAN Check result should be Match on One Pager, if it is other than Match, bank verification is required
and secondary CIBIL to be checked on additional PAN
o Credit to verify CIBIL DOB & CIBIL PAN with DOB & PAN on application, in case there is mismatch, Credit to
pull external CIBIL & verify.

• CIBIL Mobile check

o If mobile number mismatch with bureau, then below process to follow at Credit stage
▪ UW need to validate applicant’s name with name on UPI app, and if details not found/ mismatch then RSA
to be raised.
▪ UW to attach UPI Screen shot in SFDC.

Page No. 44
 14.13 Deviation Matrix

Sr. Deviation
Deviation Name Approving Level
No. Type
1 >0 DPD in any tradelines in last 6 months from CIBIL creation date Credit Officer Auto
2 Addback deviation - Insurance/ LIC/ LTA Credit Officer Auto
30 DPD & above in last 12 months on all tradelines from CIBIL creation
3 Credit Officer Auto
date
4 Area Is Negative Credit Officer Auto
5 Bank employee No Perfios Credit Officer Auto
6 DISBURSAL Deviation-Non OCR Banking Deviation Credit Officer Auto
7 Domain Check NOT OK + EPFO Done Credit Officer Auto
8 Domain Check NOT OK + EPFO NOT Done Credit Officer Auto
9 Leverage Norms - High Severity - Super Green Credit Officer Auto
10 Overdue Amount > 500 (Loans) / 1500 (Cards) in last 12 months Credit Officer Auto
11 Total Experience <3 Years Credit Officer Auto
12 Cibil Score Deviation (Cibil V3 Score < 685) Credit Officer Auto
13 Email and EPFO not Available Credit Officer Auto
14 Fraud Match Deviation Credit Officer Auto
15 Growth - Current Experience 1-3 Years in Unlisted Company Credit Officer Auto
16 Leverage Norms - High Severity – Others Credit Officer Auto
17 Restructured within 5 yrs Credit Officer Auto
SMA /DBT/ SUB/LSS/90+ < 5 yrs AND Overdue amount > 500 (Loans)
18 Credit Officer Auto
/ 1500 (Cards)
19 Suit file in any tradeline except (Credit card & Gold Loan) Credit Officer Auto
20 W/O with amount >500 (non-card) & 1500 (card) Credit Officer Auto
21 Dedupe Bad Match Area Credit Manager Auto
Existing bank & current application repayment & disbursement bank is
22 Area Credit Manager Auto
not matched
23 Repay Deviation-Non OCR Banking Deviation Area Credit Manager Auto
Ever 60+ DPD in last 36 months AND Overdue amount > 500 (Loans) /
24 Area Credit Manager Auto
1500 (Cards)
25 Perfios Statement Status Is Fraud Area Credit Manager Auto
26 Salary Delay >5 days for Non Govt Area Credit Manager Auto
27 Growth - Current Experience <1 Years in Unlisted Company Area Credit Manager Auto
28 Domain < 2 years Regional Credit Manager Auto
29 >10000 Overdue Amount Regional Credit Manager Auto
30 Credit card Outstanding amount >= 10L Zonal Credit Manager Auto
31 FOIR Deviation Zonal Credit Manager Auto
32 Loan Amount Deviation (Higher than Eligibility) Zonal Credit Manager Auto
33 Multiplier Deviation Zonal Credit Manager Auto
34 Salary Delay >30 days Zonal Credit Manager Auto
35 Count of Enquiry norms not met in last 1 month Zonal Credit Manager Auto
36 Special Profile Norms National Credit Manager Auto
37 Payslip waiver Credit Officer Manual
Rejected in last 12 months basis Customer Withdrawal / Customer Not
38 Credit Officer Manual
Interested
39 Domain Created API Not Stamped Credit Officer Manual
Rejected in last 6-12 months basis Financial/ CIBIL /RTR /PD /Other
40 Area Credit Manager Manual
policy norms
41 Addback deviation - Pension/ incentive from Offer letter Area Credit Manager Manual
42 EMI bounced deviation Area Credit Manager Manual
Rejected in last 6 months basis Financial/ CIBIL /RTR /PD /Other
43 Regional Credit Manager Manual
policy norms
Page No. 45
 44 Restricted Company Segment - Unlisted Zonal Credit Manager Manual
45 Unlisted Company DOI<2 year Zonal Credit Manager Manual
46 On US Standard Derog - Write-off Amount 100-2000 Zonal Credit Manager Manual
47 >1 Off Us Unsecured Loans In Last 6 Month National Credit Manager Manual
48 Ever Bucket in BFL loans (to be considered from Posidex dedupe) National Credit Manager Manual
49 Marginal Segment Norms not met National Credit Manager Manual

*Any deviation not covered in deviation matrix, can be approved by SCO/ NCM

14.14 Product Limitation Profiles/ Negative Sector

Below profiles are not allowed in any program

Product Limitation Profile Status
Multi-level marketing companies Not allowed
Panchayats Not allowed
Media Companies like Zee news, Star India Ltd, DD News, DD Sports, etc. Not Allowed
Police and other related enforcement organizations (BRDO, BRO, BSF, CRPF, RPF etc.) Not Allowed
Politically connected individuals/ Foreign National/ Non Residential Indian Not Allowed
Judge/Lawyers Not Allowed
Mines Not Allowed
Shipping and navigations – only for On ship employees Not allowed
Class IV employees Not Allowed
Blue collar profiles (Drivers, Sweepers, Peons, Watchman, Office boy,
Not Allowed
Lift Operator, Courier delivery boy, Security guards etc.)
DSA / Collection Agency / Verification Agency Not Allowed
Internet gambling, chit fund, Nidhi, lottery Not Allowed
SPA / Beauty Parlours & Saloon Not Allowed
Co-operative societies & Co-operative Banks Not Allowed
Online Gaming Not allowed
Jewellers - Gold/ Diamond related business Not allowed
Auto dealer Not allowed (except ABB program)
Online coaching/Education institutes Not allowed
Unlisted Manpower Outsourcing/ Recruitment/ Staffing companies Not allowed
Government School Teachers not allowed in all locations of West Bengal Not allowed
Manpower companies Not allowed
Unlisted NBFC’s Not Allowed

Page No. 46
14.15 Links for Employment Checks

Govt/Non Govt Link State

https://unifiedportal-epfo.epfindia.gov.in/publicPortal/no-
EPFO
auth/misReport/home/loadEstSearchHome
To validate TAN of Employer -
Income Tax Portal, Government of India Know your TAN
TAN Check
To confirm Employment - TRACES | TDS / TCS Credit (tdscpc.gov.in)
Salary slips
verification of
Central Govt
PFMS
Employee
BCCL http://www.bcclweb.in/PaySlip/ Jharkhand
State Govt https://treasury.telangana.gov.in/ TELANGANA
State Govt http://treasury2.tn.gov.in/default.aspx TN
State Govt https://www.mptreasury.org/mpt/dynamic/myarea.htm Madhya Pradesh
Teacher https://ekoshonline.cg.nic.in/ePayroll/frmEmpDetails.aspx Chhattisgarh
Indian Railway http://indianrailways.gov.in/railwayboard/EmpData/SearchEmployee.jsp Pan India
State Govt http://sikkimdop.gov.in/EmployeeContent?contentType=Service Sikkim
Teacher http://ehrms.upsdc.gov.in/ UP
State Govt https://esalaryhry.nic.in/ Haryana
State Govt http://jharpis.gov.in/Aspx/EmployeeSearchByName.aspx Jharkhand
State Govt http://jharpis.gov.in/Aspx/SearchEmployee_new.aspx Jharkhand
LIC Employees https://www.licindia.in/Bottom-Links/RTI/X-The-monthly-remuneration ALL INDIA
TSRTC http://183.82.0.104/tspfweb/pfstf.html TELANGANA
APSRTC http://www.apsrtcpf.in/ ANDHRA PRADESH
State Govt https://treasury.ap.gov.in/ddoreq/index.php?service=lpccreationtot ANDHRA PRADESH
State Govt https://tms.ap.gov.in/dinfo/emprreport.aspx ANDHRA PRADESH
https://tshrms.cgg.gov.in/DownloadEmpDetails.do;jsessionid=13C59D98147C5CFA
State Govt TELANGANA
F17EC5FACC87EA62
https://www.spark.gov.in/webspark/(S(wb5xu4yf0lmrdzpu4kdlaj0k))/Leavemana
State Govt Kerala
gement.aspx
State Govt http://epayroll.tn.gov.in/epayslip/Login/EmployeeLogin.aspx TN
Govt Employees Immovable Property Return - RAJKAJ (Integrated e-Office) (rajasthan.gov.in) Rajasthan
PVT institute https://www.allen.ac.in/apps1617/employeezone/login.aspx Rajasthan
State Govt http://ihrms.raj.nic.in/ Rajasthan
Govt http://www.bcclweb.in/PaySlip/ Overall
https://sbi.co.in/web/corporate-governance/directory-and-gross-emoluments-
Govt Pan India
of-state-bank-of-india-staff
MP https://www.mptreasury.org/mpt/dynamic/myarea.html Pan India
Bhabha Atomic
http://www.barc.gov.in/rti/emplist.html Pan India
Centre
Employer as
Partnership firm https://www.knowyourgst.com/gst-number-search/by-name-pan/ Pan India
or Proprietorship
Govt emp check https://www.mptreasury.org/mpt/dynamic/myarea.html Pan India
http://www.sipf.rajasthan.gov.in/EmployeeDetails.aspx
http://indianrailways.gov.in/railwayboard/EmpData/InputOption.jsp
Rajasthan Rajasthan
http://ihrms.raj.nic.in/
Immovable Property Return - RAJKAJ (Integrated e-Office)
Delhi https://online.ndmc.gov.in/smart_card/searchappl.aspx NDMC employee

Page No. 47
14.16 Clarification on Addbacks
Addback Type Remarks Deviation Authority
VPF UW to assess based on 3 months
GPF UW to assess based on 3 months
Insurance/ LIC / Other ACM
insurance deduction for Can be added in income if deduction seen in 1 of the months in latest 3
Govt Employee (i.e., months payslip & banking
KGID, APGLI)
Only individuals pension income can be added subject to proof (last 6 RCM
Pension income
months Pension Credited bank statement)
80% of last 6 months or 15% of Avg last 3 months NTH whichever is lower
Rental income
– Already part of existing policy
SIP deduction for Govt &
UW to assess based on 3 months
Non Govt companies
Society/ Investment
UW to assess based on 3 months
deduction from payslip
Investment deduction UW to assess based on 3 months
Half yearly/ Annual
Not allowed - Already part of existing policy
Bonus
Added in income if seen credited for 2 quarters - Already part of existing RCM – in case of added
Quarterly Incentive
policy from Offer letter
• UW to assess based on 3 months
NPS • NPS deduction can be added in salary if PF/ GPF deduction is
available in Salary slip
Overtime Not allowed - Already part of existing policy
Can be added in income if same is Part of CTC, (LTA as per offer ACM
LTA
letter/12)
ESOP Not allowed
HRA deduction for Govt
Not allowed
employees
Arrears Not allowed - Already part of existing policy
Can be added in income if part of CTC letter or seen credited in last 3
months payslip.
Reimbursement
(Reimbursement of expenses like travel claims/mobile claims/Sodexo
pass cannot be considered as income)
FD interest & Dividend can be considered in income for eligibility calculation if reflecting in
income verified banking
1. Below are the following norms for cases getting processed with Add
back / Advance salary:
• Form 26AS to be provided mandatorily to check customer Gross
income and TDS deductions.
• Advance salary/ Pay amount should be reflected in Bank
statement + Advance salary narration should be match with
other three salary credit narration.
Additional Norms
• Salary Advance/payment amount should also reflect in salary
slip in 'Deductions' section, if not same to be raised for RSA

2. In case of NIP program, where salary difference between 2

consecutive months seen more than 30%, salary slip to be taken to
check the same.
3. Note: This norm is applicable for all salary based program

14.17 Clarification on ABB

ABB can be consider from Secondary Bank account as well if <5k in Salary bank account. UW to validate below
checks
a. Business/ UW to select consider for ABB flag for Secondary Bank account
b. Min 6 months AA/ Perfios/ OCR mandatorily to be done for secondary as well as Primary bank account
c. UW to check in case of high credit, EMI bounces in secondary bank account and Primary bank account
d. Secondary Bank account should be in the name of Applicant, Joint account will not be considered.
e. Secondary account to be validated through AA/Perfios/OCR. If secondary bank account is not validated
then it is not allowed to add as secondary bank account.
f. Disbursement and Repayment will be from Primary bank account only (that is salary account)

In Growth Market - Customer with salary bank account in bank’s which are not available for Either AA OR Perfios OR
OCR (i.e. Gramin banks, Co-operative Banks)

Page No. 48