Loans & Advances
Common basic documents for all the Loan facilities:
- KYC Documents
- Photo/s
- 3 Years ITRs and Balance Sheets
- 6 Months Bank Statements
- In case of salaried persons –
- Latest 3 months salary certificate issued by Authorised person
- Six Months Bank Statement and
- Form No 16
- For Mortgage loans, the documents required provided under CHECK LIST under download option.
- In case of long term mortgage loans, the Term Insurance Policy for the loan amount shall be obtained and same has to be duly assigned to the Co-operative.
JEWEL LOAN
Purpose
To meet emergency requirement of funds
Eligibility
Members of the Cooperative
Loan Limit
Per gram Rs.2500/-*(*Subject to periodical change)
Rate of Interest
12%
Repayment Tenure
24 months
Security
Pledge of Gold Ornaments
Surety-Guarantor
NA
Documents Required
KYC, Pronote, Pledge letter
VEHICLE LOAN
Purpose
To purchase new 2 wheelers and 4 wheelers
Eligibility
Members of the Cooperative
Loan Limit
75% of the invoice value
Rate of Interest
12%
Repayment Tenure
48 months
Security
Hypothecation over Vehicle
Surety-Guarantor
Acceptable credit worthy person
Documents Required
KYC, Pronote, Hypothecation agreement, RTO form 29, 30, 35
HOUSE CONSTRUCTION /PURCHASE
Purpose
For purchasing or construction of the house Property.
Eligibility
Members of the Cooperative
Loan Limit
50% to 60% of value of the mortgaged property with a cap of Rs.125 Lakhs per party.
Rate of Interest
14%
Repayment Tenure
120 months
Security
Mortgage of property
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed
MORTGAGE LOAN GENERAL
Purpose
For various purposes including Projects, Business Activities etc.
Eligibility
Members of the Cooperative
Loan Limit
50% to 60% of value of the mortgaged property with a cap of Rs.125 Lakhs per party.
Rate of Interest
15%
Repayment Tenure
120 months
Security
Mortgage of property
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed
SALARY LOAN
Purpose
For meeting personal & Emergency needs.
Eligibility
Members of the Cooperative
Loan Limit
Max. Upto Rs.3,00,000/-
Rate of Interest
16%
Repayment Tenure
36 months
Security
3 Months Salary Certificate
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, 6 months Bank Statements, 3 months Salary Slip.
ADVANCE ON DEPOSIT
Purpose
For meeting urgent financial needs of depositors
Eligibility
Members of the Cooperative
Loan Limit
75%-90% of the Deposit on FD etc
Rate of Interest
1% above the ROI on Deposits
Repayment Tenure
Till Maturity of Deposits
Security
Deposit Receipts
Surety-Guarantor
NA
Documents Required
KYC, Pronote, Pledge letter
SURETY LOAN
Purpose
For meeting personal & Emergency needs.
Eligibility
Members of the Cooperative
Loan Limit
Max. Upto Rs. 3,00,000/-
Rate of Interest
16%
Repayment Tenure
36 months
Security
Bussiness Proof, IT Returns
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote Income Proof, 3 years IT Proof.
EDUCATION LOAN
Purpose
For Higher education purposes.
Eligibility
Members of the Cooperative
Loan Limit
50% to 60% of value of the mortgaged property with a cap of Rs.125 Lakhs per party.
Rate of Interest
15%
Repayment Tenure
120 months
Security
Equitable Mortgage of property
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements,
3 months Salary Slip.
BUSINESS DEVELOPMENT LOAN
Purpose
Our business development loan is designed to help you make a long-term investment in your business, whether it is for recruitment, acquisition, marketing or any other initiative that will help you grow
Eligibility
Members of the Cooperative
Loan Limit
50% to 60% of value of the mortgaged property with a cap of Rs.125 Lakhs per party.
Rate of Interest
15%
Repayment Tenure
120 months
Security
Equitable Mortgage of property
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements,
3 months Salary Slip.
LOANS TO ACQUIRE NEW ASSETS
Purpose
To Purchase of new Property
Eligibility
Members of the Cooperative
Loan Limit
50% to 60% of value of the mortgaged property with a cap of Rs.125
Rate of Interest
15%
Repayment Tenure
120 months
Security
Equitable Mortgage of property
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements,
3 months Salary Slip.
NEW BUSINESS LOANS
Purpose
To Start-up new Business
Eligibility
Members of the Cooperative
Loan Limit
50% to 60% of value of the mortgaged property with a cap of Rs.125
Rate of Interest
15%
Repayment Tenure
120 months
Security
Equitable Mortgage of property
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements,
3 months Salary Slip.
FAMILY/SOCIAL FUNCTION LOANS
Purpose
To Marriage and Other family function
Eligibility
Members of the Cooperative
Loan Limit
50% to 60% of value of the mortgaged property with a cap of Rs.125
Rate of Interest
15%
Repayment Tenure
120 months
Security
Equitable Mortgage of property
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements,
3 months Salary Slip
BRIDGE LOANS
Purpose
To Execute the work till Release of Project Funds from concerned agency
Eligibility
Members of the Cooperative
Loan Limit
50% to 60% of value of the mortgaged property with a cap of Rs.125
Rate of Interest
15%
Repayment Tenure
6 months to 12 months
Security
Equitable Mortgage of property
Surety-Guarantor
Acceptable credit worthy person/s
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements,
3 months Salary Slip
Special Loan on Deposit
Purpose
Overdraft Facility , To meet emergency requirement of funds
Eligibility
80 to 85% of Deposit Amt
Rate of Interest
1% above the ROI offered on Deposit
Repayment Tenure
12 months, Renewable subject to satisfactory operation
Security
Deposit Receipts
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements,
3 months Salary Slip
Special Loan on Mortgage
Purpose
Overdraft Facility
Eligibility
50% to 60% of value of the mortgaged property with a cap of Rs.125 Lakhs per party.
Rate of Interest
15%
Repayment Tenure
12 months, Renewable subject to satisfactory operation
Security
Equitable Mortgage of property
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements, 3months Salary Slip.
Surity
Acceptable credit worthy person
Special Loan on Jewel
Purpose
Overdraft Facility, To meet emergency requirement of funds
Eligibility
Per gram Rs.3200/-* (*Subject to periodical change
Rate of Interest
12%
Repayment Tenure
12 months, Renewable subject to satisfactory operation
Security
Pledge of Gold Ornaments
Documents Required
KYC, Pronote, Pledge letter
Special Loan On Business Working Capital
Purpose
Overdraft Facility, To meet working Capital Requirements
Eligibility
50% to 60% of value of the mortgaged property with a cap of Rs.125 Lakhs per party.
Rate of Interest
15%
Repayment Tenure
12 months, Renewable subject to satisfactory operation
Security
Equitable Mortgage of property
Documents Required
KYC, Pronote, Document related to land & building, Mortgage deed,6 months Bank Statements, 3months Salary Slip.
Surity
Acceptable credit worthy person