Karad Urban Co-operative Bank Limited – Surety Loan for Businessmen / Servicemen

By | March 30, 2011

This Bank was first established as a Co-operative Urban Credit Society in the year 1917. This was later on converted into a Bank. The bank now has its branches in Sangli, Kolhapur, Solapur, Ratnagiri, Pune and Mumbai.

During the year 1999-2000 Karad Urban Co-operative Bank was conferred with the “Scheduled Status” as mark of its established financial health and confidence of public on the bank.

Purpose: This loan could be availed for any business needs.

 

Eligibility: The loan applicant must be a member or nominal member of the bank. Any individual who have sufficient capacity to repay the loan can avail this personal loan.

Rate of Interest: The rate of interest for loans granted for purchase of place for business, office, shop is 12.5% per annum fro loan amounts up to Rs. 20 lakhs. For loans between Rs. 20 lakhs to Rs. 50 lakhs the rate of interest is 14.5% per annum. For loans above Rs. 50 lakhs the rate of interest is 14% per annum.

Other features: There are low processing charges. The highlight feature of the loans granted by the bank as claimed by the bank is quick assessment and timely disbursement.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Articles Glossary Tags: , ,

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

Leave a Reply

Your email address will not be published. Required fields are marked *