Janata Sahakari Bank Ltd.,Pune was established on 18th October 1949 by people committed to social cause in Pune city. RBI included the bank in second schedule and from 1st September 1988. Janata Sahakari Bank Ltd., Pune is functional as Scheduled Co-Operative Bank and accepts deposits from Government and Semi-Government corporations. Similarly Government & Semi-Government corporations accept Bank’s drafts.
Purpose: Any individual can avail this loan in case of personal or business needs.
Eligibility: Only individuals can avail this loan. Firms or companies or other institutions cannot avail this loan.
Rate of Interest: The rate of interest for this loan is 12.5% per annum.
Quantum of loan: The minimum amount that is granted as loan is Rs. 1000/-. The maximum amount of loan that could be granted is decided based on the quantity of gold that is pledged with the bank in exchange.
Security & Guarantee: In case of this loan no guarantor is required unlike home loan, car loan, education loan etc. This is because the gold that is pledged to the bank in exchange serves as the security for the loan.
Documents Required: The documentation process is very simple.