Loan to Shareholders/Members

The Bank provides a variety of Loan Schemes for its members.

Home Loans                       Medical Loans

Education Loan                 Personal Loans

Features of the Loan Policy is here as under :-

  1. Maximum limit of 1st Loan & Maximum limit of Loan are Rs 1.00 Lakh & Rs 12.00 Lakh respectively.
  1. Enhancement of quantum of maximum loan limit to the members should be Rs 12.00 Lakh from existing Rs 6.00 Lakh against Share Capital of Rs 60,000/-.
  1. 100% loan against their own deposit (excluding the value of share capital) to be granted to members without furnishing any security/guarantor.
  1. The members will be entitled to get < Rs 2 Lakh against minimum one guarantor.
  1. The loan to members if does not exceed Rs 2 Lakh, the difference between the deposit amount (excluding the value of share capital) and the amount applied for/allowable to be granted at least one security / guarantor to be furnished. However, if the limit exceeds Rs 2.00 Lakh, 2 guarantors are essentially required to be submitted.
  1. Quantum of loan if exceeds Rs 2.00 Lakh, but not exceeding Rs 4 Lakh, minimum two guarantors are required to be furnished.
  1. Three guarantors are required to be furnished if the quantum of loan exceeds Rs 4 Lakh.

 Short Term Loan

  • Loan Limit : Maximum Rs 1,00,000/-
  • EMI – upto 12 Instalments
  • Short Term loan repayment schedule will be of 12 maximum Instalments.

Mid Term Loan

  • Loan Limit : Maximum Rs 4,00,000/-
  • EMI – upto 60 Instalments
  • Mid Term loan repayment schedule will be of 60 maximum Instalments.

Long Term Loan

  • Loan Limit : Maximum Rs 12,00,000/-
  • EMI – upto 120 Instalments
  • Long Term loan repayment schedule will be of 120 maximum Instalments.

Interest on Loan

  • 9% per annum on reducing balance