Abhyudaya Co-operative Bank Limited is one of the leading Urban Co-operative Banks in India and works with the objective of progress and prosperity of all. The bank’s operation was commenced on January 1964 as a Co-operative Credit society with a share capital of a merely Rs.5, 000/- held by 83 members. Today it has become one of the large Urban Co-operative Banks with a “Scheduled Bank” status.
The bank has 1, 38,000 members and more than 14 lakh depositors. The Bank has seen a tremendous growth in deposits. The deposits of the bank are over Rs. 5260.63 Crore as on 31.03.2011, which were Rs. 4170.62 Crore as at the end of the financial year 2009-2010. The loans and advances stood at Rs. 3452.66 Crore as on 31.03.2011.
Purpose: The loan amount can be used for any purpose but shall not be used for the purposes prohibited by law
Quantum of Loan: Rs. 15.00 Lakh
Repayment: 6 / 12 / 24 months
Sureties: NIL
Service Charges: The service charges offered by the bank is 0.6% of the loan amount subject minimum Rs. 100/- , Maximum Rs. 500/-
Other Charges: Nominal Membership, Gold Appraisal Charges, Document Stamp Charges
Rate of Interest: 12.50%
Designated Branches: Now Gold Loan facility is available in almost all Branches of the bank.