Amanath Co-operative Bank Ltd – Personal Loan

By | March 29, 2011

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: The personal loan can be availed for any personal needs like, business, education, purchase of consumer durables, etc.

Eligibility: Any individual person with a regular source of income can avail this loan.

Rate of Interest: The rate of interest is 13%.

Security & Guarantee: There is unsecured for loan amounts up to Rs. 50, 000/-. For loans above Rs. 50,000/-, surety is required.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

2 thoughts on “Amanath Co-operative Bank Ltd – Personal Loan

    1. Team BankBazaar

      Dear Durgesh,
      Thanks for writing to us. Ideally you should have a Health Insurance Cover for meeting medical expenses. In case you don’t have one right now, you could apply for a Personal Loan with us, please click here. If everything goes right, you should get your Personal Loan in a couple of days. Please make sure that you understand the interest rates applicable before going ahead with a Personal Loan.

      Team BankBazaar

      Reply

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