Rajkot Nagarik Sahakari Bank is a leading Co-Operative Bank in Gujarat State, India. Bank was established on 5th October 1953. Bank was the first co-operative institute to start functioning in the erstwhile region of Saurashtra.
Bank is enjoying the “Scheduled Bank” Status since 1989. In year 2001 Bank was registered under Multi-State Co-Operative Society Act. With opening of branch in Mumbai, the Economic Capital of India the bank became Multi-State Schedule Co-Operative Bank.
Purpose: This loan finances purchase or construction of buildings as property.
Eligibility: Service class people, business proprietorship, business partnership, companies etc. can avail this personal loan.
Rate of Interest: For loans of Rs. 1 lakh to Rs. 2 lakhs, the rate of interest is 14.25% per annum. For loans of amounts above Rs. 2 lakhs, the arte of interest is 15.25% per annum.
Repayment: The maximum period for repayment of the loan is 144 months. The repayment for service class people can be done through salary deduction.
Documents required: The authorized plan needs to be presented. In case business firms, companies, partnerships, etc applying for this loan, the documents of proof of the business also need to be submitted along with the authorized plan.