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 aims at promoting the small scale and medium scale industries.
Eligibility: Entrepreneurs having SSI Registration certificate in small scale industries & medium scale industries can avail this personal loan.
Quantum of Loan and Rate of Interest:
Unsecured up to Rs. 50,000/- at 13%
Secured up to Rs. 5 Crores at 14%
Security & Guarantee: Loan requires hypothecation of assets & collateral security double in value of the property if the amount is above Rs. 50,000/-