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 students pursuing graduate, post graduate and professional courses.
Eligibility: Student who are eligible for higher studies.
Quantum of Loan: The maximum loan amount for studies in India is Rs. 10 lakhs and for studies abroad the maximum amount of loan is Rs. 20 lakhs.
Rate of Interest: For loan amounts up to Rs. 2 lakhs the rate of interest is 13% and for loan amounts greater than Rs. 2 lakhs, the rate of interest is 14%.
Margin: There is a margin of 50% for this personal loan.
Security & Guarantee: Surety and collateral security is required for loans above Rs. 50, 000/-.