LOANS

  • LOANS FOR HOUSE CONSTRUCTION AND PURCHASE OF SITE
  • The Bank is sanctioning loans to build / Purchase a house for the purpose of residence and also for the purpose of purchase of site. Maximum repayment period for this Loan is 240 Months.

  • LOAN AGAINST MORTGAGE OF PROPERTY/SITE
  • The Bank is sanctioning this loan by getting mortgage of immovable property of the borrower after considering security, repayment capacity, credit worthiness and fulfilling documentation procedures prescribed by the bank for setting up / improvement of business, repairs of house, educational purposes, clearing of debts, daughter marriage etc. Maximum duration of this Loan is 180 months.

  • TRANSPORT OPERATOR LOAN (Three wheeler and four wheeler)
  • This Loan is sanctioned for the purchase of new Autorickshaw / cars / tempos / trucks etc. against hypothecation of such vehicles for personal or commercial use. Loan is given up to 70 % of the cost of the vehicle. Maximum tenure is 60 months.

  • TWO WHEELER VEHICLE LOAN
  • This Loan is sanctioned for the purchase of new two wheeler against hypothecation of such vehicle up to 70 % of the cost of the vehicle. Maximum tenure is 36 months.

  • O D ON CURRENTS ACCOUNT AGAINST MORTGAGE OF PROPERTIES
  • The Bank sanctions overdrafts to traders and business people against mortgage of property. The tenure of this facility will be given for a period of 1 Year and renewed subject to satisfactory performance of the a/c. Interest is calculated for the amount of debit balance in the account on daily basis and charged to a/c on every month.

  • SURETY LOAN
  • The Bank sanction this loan to salaried employees after obtaining Under taking letter from his employer / salary credit to his a/c in the bank and on production of personal surety of another member.

    Maximuim Loan amount is Rs. 1,00,000.00 and tenure is 50 months.

  • BUSINESS LOAN
  • The Bank sanction Business loan to its members against the surety of another member who has availed Housing / Property mortgage loan from the bank.

    Maximum loan amount is Rs. 1,00,000.00 and the tenure is 50 months.

  • JEWEL LOAN
  • This loan is sanctioned against the pledge of gold ornaments. Jewel Loan of Rs. 1600.00 per gm will be given and the maximum loan amount is 10.00 lakhs. Maximum tenure is 36 months.

    For Non members maximum of Rs. 1,00,000.00 will be given by admitting them as nominal members.

  • NSC & LIC BOND LOAN
  • Loans against NSC Bonds / LIC Bonds is sanctioned against its lien Up to 70% of the surrender value of the Bond.