This bank will waive all loans including home loan, personal loan, car loan of its employees on death due to corona

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IDFC FIRST Bank said that if one of its employees dies of corona, then all his loan will be waived. This includes home loan, car loan, personal loan, education loan.

Four times of annual CTC will be available as compensation.

IDFC FIRST Bank Has made many important announcements for its employees for relief from Corona. According to the announcement from the bank, if an employee dies due to corona, then his family will get four times the annual CTC as compensation. Apart from this, the family will continue to get the full salary for the next two years.

Giving this information, V Vaidyanathan, Managing Director of the bank said that most of the employees of the bank are jawans. If someone dies, the family goes into shock. In such a situation, we have taken some important decisions to help them. Apart from this, the bank has also decided to waive all types of loans including home loan, car loan, personal loan, bike loan, education loan of its employees. Vaidyanathan says that waiving off the loan will reduce the burden of his family. As employers, we want to help them in any way we can.

All types of loans will be completely waived off

The bank has now taken this decision. In such a situation, he is now finding out how many employees have been affected by such a problem during the Corona period, so that they can get all the benefits. The managing director of the bank said that if an employee has taken a loan from the bank, then all his loan will be waived off. Home loan will be waived up to 25 lakhs. Its deadline has been kept 30 June 2021.

Home loan will be waived up to 25 lakhs

Let us understand with an example how the home loan will be forgiven. Suppose “A” works in IDFC FIRST bank and has taken a home loan of 30 lakhs. In such a situation, his loan of 25 lakhs will be waived and his family will have to deposit only Rs 5 lakhs. Employees taking home loan will also be offered a reduction in EMI. On the death of the employee, his family members will be able to pay the lower EMI from the salary received for the next two years.

Spouse will get Rs 2 lakh for learning skills

V Vaidyanathan said that about 20 employees of the bank have died during the Corona period. We are trying to get in touch with his family and caution him about the benefits. If the spouse of any employee wants to do a job, then we will also give them a job. If he is not able to work with our bank then Rs 2 lakh will be given separately for skilling himself.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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