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 taken to finance purchase of domestic appliance.
Eligibility: Any salaried person (i.e. government, semi government, board, nigam, corporation, co- op society, schools, colleges, etc.), businessman or professional can avail this personal loan.
Quantum of Loan: Up to a maximum of 60% of the purchase value (subject to a maximum of Rs. 2 lakhs) is granted as loan.
Rate of Interest: The rate of interest is 13.5% per annum.
Repayment: The maximum period for repayment of the loan is 66 months. (i.e. 5 ½ years)
Security & Guarantee: Guarantee of two persons is required for the loan.
Documents required: The quotation of the item proposed to be purchased with the loan amount is to be submitted along with loan application.