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 finances purchase of a home.
Eligibility: Any individual with regular source of income can avail this housing loan.
Quantum of Loan:
Rs. 2.00 lakhs for alteration & repairs
Rs.20.00 lakhs for construction
Rate of Interest:
| Amount in lakhs | Interest rate |
| Up to 2 | 12% |
| 2 – 5 | 13% |
| Above 5 | 14% |
Margin: 50%.
Security & Guarantee: Mortgage of Property is security of the loan.