The Excellent Co-operative Bank Limited has been awarded “A” class audit classification by Statutory Auditors as on 31st March 2008. 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 home loan, personal loan, car loan, educational loan etc.
PURPOSE -The loan offers finance required for Business expansion or to meet business needs.
ELIGIBILITY -Self employed, professionals, entrepreneurs etc.
LOAN AMOUNT -3 times net income; Minimum Rs. 0.51 Lac Maximum Rs. 50.00 Lakh
SECURITY -Mortgage of property against which loan is given.
INTEREST RATE – Up to Rs. 25,000 11% per annum, above Rs. 25,000 and up to Rs. 2 Lakh 12% per annum, above 2 Lakh 13% per annum
REPAYMENT PERIOD -Maximum 5 years
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.