The Excellent Co-operative Bank Limited formerly known as The Safe Co-operative Bank Ltd is serving the banking needs of the common man from the last four decades. The bank grants loan to the priority sectors as well as to the weaker sections of the society as per the R.B.I guidelines. The bank offers personal loan, home loan, car loan, consumer loan etc.
PURPOSE – Purchase of household items, like Washing Machine, Fridge, Television, Music System, Air Condition etc.
ELIGIBILITY – The loan is offered to individuals
LOAN AMOUNT – 24 times the monthly net income or 85% of the cost for salaried Persons; or others, the maximum loan amount is 2 times their net annual income.
SECURITY – Hypothecation of article and 2 guarantors
INTEREST RATE – For loans up to Rs. 25,000 11% per annum, above Rs. 25,000 and up to Rs. 2 Lakhs 12% per annum, above 2 Lakhs 13% per annum
REPAYMENT PERIOD – The repayment is maximum 24 months
Documents –
- Proof of Identity : Voters ID Card / Passport / Driving Licence / PAN Card;
- Proof of Residence: Recent Telephone Bill / Electricity Bill / Property or Tax Receipt / Passport / Voters ID Card.
- Proof of Business: IT Returns, Balance Sheet, Profit & Loss Account, Sundry Creditors List etc. (for non salaried persons).
- Passport size photographs.
- Income Proof: Salary Slip/ Form 16 / TDS Certificate (For salaried individuals, IT Return for non salaried individuals.