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. Its loan portfolio includes home loans, personal loans, education loan, mortgage loan, vehicle loans etc.
Purpose: The loan amount can be used for any purpose but shall not be used for purposes prohibited by law. The property should be in the name of Applicant or Co-applicant of family member
Quantum of Loan: Rs.20.00 Lakh for Personal use, Rs.100.00 Lakh to business enterprises and self employed and Professional for use in business
Repayment: Up to 84 months
Eligibility: Amount of loan will depend on repaying capacity / DSCR / Loan to the extent of 60 % of the present value of the property.
Rate of Interest: 15%
Sureties: One surety of good means acceptable to the bank
Service Charges: 1.2 % of the sanctioned amount
Share Amount: 2.5 % of the sanctioned amount