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 the purchase of new two- wheeler / old two-wheeler.
Eligibility: Any individual with sufficient repayment capacity can avail this loan.
Quantum of Loan: The maximum amount of loan that is granted is Rs. 1 lakh.
Rate of Interest: The rate of interest for this personal loan is 11% per annum.
Margin: There is no margin for loans of amount up to Rs. 50,000/- .There is a margin of 10% for loans of amount above Rs.50,000/-.
Repayment: The maximum repayment period of the loan is 60 months.
Security & Guarantee: One guarantor of good means acceptable to the bank is required. Hypothecation of the vehicle to be acquired through bank finance is taken as security.