Abhyudaya Co-op. 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.
Purpose: The Loan / Overdraft amount can be used for any purpose but shall not use for purposes prohibited by law
Quantum of Loan: The amount of personal loan offered by the bank is as follows
| Against NSC/ KVP/ & RBI Bonds (Own) | Up to 2 years old :70% of accrued value |
| above 2 years to 4 years old : 75% of accrued value | |
| above 4 years : 85% of accrued value | |
| Loan Against KVP | 90% of Accrued value |
| SOD Against NSC / KVP / RBI Bonds : | |
| 80% of Accrued value. | |
| Loan/SOD against LIC Policy (Own) | 90% of surrender value. |
| Max. 60 installments | |
| 3 years for overdraft to be reviewed on yearly basis |
Repayment: Maximum 60 installments; 3 years for overdraft to be reviewed on yearly basis
Securities: Assignment & Pledge of NSC/ KVP/RBI Bonds or of LIC Policies (Own).
Rate of Interest: 12.50%
Sureties: NIL
Service Charges: Loans – Nil, Secured Overdraft – Rs.100/-