Dombivli Nagari Sahakari Bank Ltd. Was established on 6th September 1970 in Dombivli town with a population of 2 to 3 lakhs only at that time. The “Scheduled Bank” status was conferred upon Dombilvli Bank by Reserve Bank of India in 1996.
The bank which is now known as “Dombivli Bank” has opened its branches at Kulgaon (Badlapur), Ambernath, Shahapur, Bhiwandi, Titwala, and in most rural and backward area like Talasari. The bank has wide spread customer base and also a huge number of (about 6,601) shareholders.
Purpose: This loan finances business needs.
Eligibility: Any individual or businessman with sufficient repayment capacity can avail this personal loan.
Quantum of Loan: The maximum amount that is granted as loan depends on the value of the property mortgaged as valued by the valuer. For residential property, 60% of the value is granted as overdraft and for commercial property 50% of the value is granted as overdraft.
Rate of Interest: The rate of interest is 15.50 % per annum.
Repayment: The general period of repayment is 60 months (5 years). This is subject to annual review.
Security & Guarantee: Minimum two guarantors acceptable to bank is required. Mortgage of property is the security.