Gold loan is sanctioned by accepting the gold ornaments of the customer as pledge. Gold loans are often used for short term household requirements, business purposes etc. However, in terms of the cost and ease of availing the loan, and the convenience, gold loans are a better bargain.
Anyone who owns gold ornaments can avail the loan provided he/she is the A Class D Class share holder or nominal share holder of the Bank. (Note: minors are not eligible.)
This scheme provides loan facility against mortgage of property at the rate of interest fixed by the Bank. The scheme is for people engaged in trade, commerce & business and also professionals & self employed, Prop. Firm, partnership firms, companies, NRIs and individuals with sufficient repaying capacity including salaried people and agriculturists. The product provides an opportunity to customers to borrow against a fixed asset (mortgage of property) at a short notice without much paper work/attendant hassles.
• Persons having A Class or D Class membership in the Bank, engaged in trade, commerce and business, Professionals, Self-employed, Prop. Firms, partnership firms, individuals with high networth, salaried people, agriculturists etc
submit application with the following necessary documents
a. The original document of the properties b. Back documents of the property or its duly attested copies c. Possession certificate of the property d. Encumbrance certificate of the property for the last preceding 14 years without any breaks e. Revenue Tax receipts of the property containing the name of the applicant, extended of property,survey number of the property etc. f. Purchase certificate issued by the revenue authorities(if found necessary) g. Copy of the identity card as per the KYC norms. h. Location map i. Income proof• After verification the Branch will submit the application to HO with their recommendation.
• After getting legal opinion HO will sanction the loan and issue orders.
• The charges levied are forms, insurance, notice, legal fee, valuation charge and miscellaneous charges.
• Upto 60 months
• Maximum Rs. 50,00,000/-
• percentage of share linking is 2.5 %
• Monthly instalment.
• Customers are free to repay part amount of loan and/or accrued interest thereon at anytime. Interest is calculated on daily product basis on the amount of loan outstanding at the end of the day.
• To see the interest rate please visit the page of Interest rate in this site. The overdue interest rate is 3% .
Over Draft is a credit arrangement with the bank, allowing a person with a current account to use borrowed money up to an agreed limit when nothing is left in the account. An overdraft is a facility granted to customers whereby they can overdraw their current account up to an agreed limit. They can at any time deposit money into the account to reduce the outstanding balance or can draw out money whenever the customers need it, as long as it does not exceed the limit. Interest is calculated on the daily outstanding balance and is normally charged at the end of each month.
This scheme provides loan facility for the purpose of construction of dwelling houses or for purchase of an existing dwelling house including the land it situates, against mortgage of property at the rate of interest fixed by the Bank. The product provides an opportunity to customers to fulfill their dreams of constructing a house with a minimum cost and hardship.
The property offered as security must be the land in the possession and title deed of the applicant. In order to prove the possession and title of the applicant, the following documents must be produced:
1. The original document of the property 2. Back documents of the property or its duly attested copies 3. Possession certificate of the property 4. Encumbrance certificate of the property for the last preceding 14 years without any breaks 5. Revenue Tax receipts of the property containing the name of the applicant, extend of property, survey number of the property etc. 6. Purchase certificate issued by the revenue authorities (if found necessary). 7. Copy of the identity card as per the KYC norms. 8. A copy of the plan, approved plan by local authority, location map, building plan and the estimated cost of house construction of the constructing/ purchasing house. 9. Income proof.Surety loan is a personal loan meant to meet the personal needs of common men, or salaried employees working in Government, aided, Co-operative, self-finance institutions up on the security of salary deduction certificates.
Deposit loans are fully secured loans issued against the security of the deposits kept with the Bank, meant to meet the personal immediate needs of the Depositors.
Gold loan is sanctioned by accepting the gold ornaments of the customer as pledge. Gold loans are often used for short term household requirements, business purposes etc. However, in terms of the cost and ease of availing the loan, and the convenience, gold loans are a better bargain.
To meet the credit needs of trade, commercial activity, other general business as also for their bonafide requirements.
Anyone who owns land revenue receipt and gold ornaments can avail the loan provided he/she is the A Class D Class share holder or nominal share holder of the Bank. (Note: minors are not eligible.)
Submit the gold ornaments (within a karat range of 18 to 24 k) along with the application in the prescribed format at the branch. The loan will be sanctioned on the base of the gold valuation which involves verification of its purity. Copy of the identity card as per the KYC norms.
The charges levied are forms, insurance, notice and miscellaneous charges.
Maximum tenor of 6 months.
Bank will periodically review and fix the maximum advance amount payable per gram of gold , which nevertheless will exceed the 85% of the existing market value of the gold.
Customers are free to repay part amount of loan and/or accrued interest thereon at anytime.
To see the interest rate please visit the page of interest rate in this site. The interest will be calculated per day basis. The overdue interest rate is 3% from start date .
a. Retail Trade
All retail traders with in area , having A class or D Class members
Maximum Rs. 5,00,000/-
Two personal guarantees of traders having A class or D Class members with Bank. (The application for a Trade Loan has to be submitted along with Licence of Traders, Land Tax paid receipt, etc)
Upto 60 months. share linking is 5%.
By Daily collection.
a. For Purchase of Vehicle
A class or D Class members
85% of invoice of new vehicle Maximum Rs. 25,00,000/- ( For old vehicle up to 2 years 70% of the value estimated by Bank and Automobile valuar)
Property Mortgage worth value 2.5 times of loan amount or Personal gurantee of 2 salaried persons. For ladies up to Rs.50000/- personal gurantee of two A class members.) All related documents.
The charges levied are forms, insurance, notice and miscellaneous charges. Period up. Upto 60 months. share linking is 5%.
With in 60 months- Monthly Instalments
a. For Education
A class or D Class members
Maximum Rs. 10,00,000/-
Property Mortgage worth value 2.5 times of loan amount. All related documents, proof of study etc is required.
The charges levied are forms, insurance, notice and miscellaneous charges. Period up. Upto 60 months. share linking is 2.5%.
With in 60 months- Monthly Instalments.
Loans for study abrod is also availabile maximum up to RS.5000000/-