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. With a small capital base of Rs. 3 lakhs, the bank has grown to be the largest Urban Co-operative Bank in the state, with a deposit of over Rs. 440 crores, working capital of Rs. 505 crores and net owned funds of Rs. 29.53 crores.
Purpose: This loan can be availed for any personal needs.
Eligibility: Any individual can avail this personal loan.
Quantum of Loan: Amount of loan given per gram is Rs. 1200/-. Individual (regular customer) borrower limit shall not cross Rs. 3-00 Lakhs. In case off nominal customers the limit is Rs. 1 lakh.
Rate of Interest: The rate of interest for the loan is 12%.
Margin: 50%.
Security & Guarantee: 22 carat gold is kept as security.