Jalgaon Janata Sahakari Bank Ltd. was established on 20th January, 1979. The Bank attained “Scheduled Bank” status on 29th January, 2000.
By the time Jalgaon Janata Sahakari Bank celebrated its Silver Jubilee in the year 2003-2004, the bank had already achieved over Rs. 300 crore as deposits.
Purpose: This loan finances higher education of students in India and abroad.
Eligibility: Any Indian citizen who is a share holder of the bank and also is capable of repaying the loan can avail this loan.
Quantum of Loan: There is no upper limit for the loan amount.
Rate of Interest: The rate of interest is 11.25% per annum for Girls & 11.75% per annum for Boys.
Repayment: The maximum period within which the repayment has to be done is 5 years (excluding the moratorium period). The repayment has to be done through monthly installments.
Security & Guarantee: Two guarantors acceptable to the bank are required for this loan.
Documents required: Along with the completed loan application of the bank, proof of income of the applicant and guarantors, KYC details of the applicant and guarantors, etc. has to be submitted in order to get the loan.