The Greater Bombay Co-operative Bank Ltd, more popularly known as Greater Bank, was established over five decades ago on 10th December 1952. The bank was established with a single motto of serving the society in large. In 1996, the bank achieved the “Scheduled Bank “status. The Bank has been functioning very well in the recent years and has successfully crossed a deposit mark of more than Rs.1200 crores and a business mix of more than Rs. 2000 crores.
Purpose: This loan could be taken for any genuine personal need.
Eligibility: Confirmed employees of reputed PSUs, Limited Companies, Central / State Government Employees and Professors / Asst. Professors / Lecturers of College / Universities and Research Institutes having the latest net monthly salary (i.e. after all deductions) not less than Rs.10,000/- can avail the personal loan.
Quantum of Loan: The maximum loan amount is Rs. 2 lakhs for individuals and Rs. 3 lakh for group loan.
Rate of Interest: The rate of interest varies from 14.5% per annum to 16% per annum depending on the category which the loan belongs.
Repayment: The maximum period of repayment is 60 months for individuals and 84 months for loans above Rs. 2 lakhs.
Security & Guarantee: Two personal sureties are required.