On 13th January, 1977, Janab Dr. Mumtaz Ahmed Khan and Janab K.Rahman Khan founded the Amanath Co-operative Bank and within a short span of 26 years, the Bank has attained the status of Karnataka’s first scheduled Urban Co-operative Bank. The Reserve Bank of India conferred the “Scheduled Status” on Amanath Bank effective from 29th January, 2000 and has included the name of the bank in the second schedule to the Reserve Bank of India act, 1934. Amanath Bank is the first urban Co-operative bank in Karnataka to be awarded this prestigious status.
Purpose: This loan finances business ventures.
Eligibility: Traders, Workshops, Hotels and other Business ventures having business establishments/ license to pursue the related profession can avail this personal loan.
Quantum of Loan and Rate of Interest:
Unsecured Loans up to Rs. 50,000/- at 15%
Business Loans/Other Loans up to Rs. 2 lakhs at 13%
Business Loans/Other Loans above Rs. 2 lakhs at 14%
Cash Credit/Overdraft Limit up to Rs. 2 lakhs at 14%
Cash Credit/Overdraft Limit above Rs. 2 lakhs at 14%
Margin: There is a margin of50%.
Security & Guarantee: Hypothecation of assets & collateral security double in value of the property if the amount is above Rs. 50,000/-.