Deogiri bank – Deogiri Parissparsha Yojana

By | June 13, 2011

Deogiri Parissparsha Yojana is the Business Loans and Loans to Industrial Units offered by the bank to provide financial assistance to businessmen. The bank also offers home loan, personal loan, home loan, educational loan etc.

Purpose To provide the financial support to Businessmen (Manufacturing as well as Trading activity), for acquiring current and fixed assets

Quantum of Loan As per requirements of the Business and guidelines of RBI as well as Bank rules

Rate of Interest –           Card Rates applicable (p.a.), Interest will be applied monthly basis on outstanding amount.

Period –           Maximum period for repayment is 60months.forTerm Loans; Maximum period for repayment is 36months for Cash Credit loans.

Security –           Bank will create first charge on assets created out of Loan; collateral security of 125% of Sanction Amount is required

Guarantor –           Two guarantors of well means are required

Documents

Applicant :        Photo, Photo I D, Residence proof, Income Proof such as Last 3 months Salary slip or Last Three years Balance Sheet and Tax Returns, Title Documents such as Sale Deed,  P. R. Card, Sanction Plan, Tax Receipts (Recent), Quotation in case of purchase of Machinery Etc.

Guarantor:        Photo, Photo I D, Residence proof, Income Proof

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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.

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