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.
Purpose: For Higher Education in India or aboard this personal loan can be availed.
Eligibility: Student + Parents / guardian as co-applicants
Quantum of Loan: The maximum amount of loan that is granted for studies in India is Rs. 10 lakhs, and for studies abroad it is Rs. 20 lakhs.
Rate of Interest: The rate of interest is 10.5% for loans up to Rs. 5 lakhs, 11% for loans between Rs. 5 lakhs to Rs. 10 lakhs and 11.5% for loans above Rs. 10 lakhs. There is a concession of 0.5% for girls.
Margin: There is a margin of 10%.
Repayment: Maximum 7 Years including – moratorium period (Duration of course + 6 months)
Security & Guarantee: Minimum two guarantors satisfactory to the bank are needed. For loans above Rs. 5 lakhs tangible security is required.