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 can be availed for any personal needs.
Eligibility: Any normal individual or a government employee can avail this personal loan on personal surety. The government employees who avail this loan should authorize the repayment of the loan through the salary deduction.
Quantum of Loan: The maximum amount granted as loan for a normal individual is Rs. 5000/-. In case of a government employee, the maximum amount of loan that is granted is Rs. 10,000/-.
Rate of Interest: The rate of interest of this self surety loan is 15.5% per annum.
Repayment: The loan has to be repaid within a maximum period of 40 months.
Security & Guarantee: Guarantee of two people acceptable to the bank is required. The source of income of the guarantors will be verified. One also has to submit the residential proof.