Citizen Credit Co-operative Bank Limited was registered on May 6, 1920 with the Registrar of Co-op. Societies of the erstwhile Bombay Catholic Urban Co-operative Credit Society. It was converted into a Bank on October 20, 1984, by the Registrar of Co-op. Societies order no. BOM/URB/BOMBAY CATHOLIC R-WARD of 84 dated October 20, 1984.
Education has turned to be one basic necessity in the modern world. In order to make it available to every individual in the country Citizen Credit Co-Operative Bank Ltd offers educational loan to deserving students. The deserving Student and student between 15-30 years pursuing Post-Graduate studies are eligible for the loan. The sanction limit of the loan is maximum 75% of expenses for further education.
The loan is repayable in equal installments within 36/60 months after completion of course of study, no pre-payment penalty. The rate of interest is presently 11.00% p. and is calculated on the daily reducing balance of the loan, similar to other personal loan of the bank.
The security for the loan will be the charge over tangible/liquid assets available, life Insurance Policy of the life of the student (for loan above Rs. 5,000/-), surety of two individuals acceptable to the bank.The documents required by the bank includes proof of residence such as Xerox copy of Ration Card/Electricity Bill/Telephone Bill, syllabus and Letter of Offer of Admission from the Institution