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Co-operative Loans | Personal Loan |     
 
Ordinary Loan Societies
 
   
 Consumer Loan Societies House Loan Societies OL Education Societies
 OL Marriage Societies Ordinary Loan Societies  
   
 
 
 

Ordinary Loan (Societies)

TARGET GROUP

All Societies affiliated to our Bank.

PURPOSE

 Education, Marriage, Medical Treatment, House Repair, Painting, (Purpose approved by the Byelaw of society)

LOAN AMOUNT LIMIT

Based on  the IMBP & Reserve Borrowing Power of the Society

RATE OF INTEREST

ü  12%

REPAYMENT PERIOD

60 Months / 1year to 5 yearly installments.

ELIGIBILITY

On the basis of Financial position & Reserve Borrowing Power of the society

GUARANTEE

On personal & property security (According to the Byelaw of the society)

MORATORIUM

Not applicable to this loan

DOCUMENTS TO BE SUBMITTED

1.Prescribed Application Form

2. Committee Resolution

3.”B Statement” regarding the details of Security offered / Personal Sureties.

4. Copy of Audited Balance Sheet & Latest B/ S, Trading A/C, P & L a/c etc.

5. Copy of Bye Law, Copy of defects pointed out in the Audit Report and measures taken for rectification.

6. Certificates regarding the negative Lien on their fixed Assets.

7. Certificate regarding the Non-Membership in other Credit Co.op Societies.

 

 
 
 
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