Sardar Vallabhbhai Sahakari Bank Limited – Consumer Loan

By Pradeep Yuvaraj | September 22, 2011

Sardar Vallabhbhai Sahakari Bank Limited is a Co-operative Bank that got the License No. DBOD-UBD-GJ-351P from Reserve Bank of India’s on 21/11/1983. The Bank then spread its network with 4 branches in Ahmadabad City and 1 branch at Unjha (Mehsana District). The Bank is providing Safe Deposit Vault (Locker) facility at its Law Garden and Isanpur Branch. All branches of the Bank are fully computerized since 1998 and are now connected with Core Banking System since May 2009. The bank offers home loans, personal loans, car loans, gold loans, education loan, consumer loans etc.

Purpose: The loan is offered for purpose of purchasing of consumer electronics items like Freeze, Television, Washing Machine, Air Conditioner, Furniture etc.

Quantum of Loan: the bank offer 85% of quotation value of consumer products; Maximum loan amount for Consumer Loan is Rs. 50,000/-.

Repayment: maximum 36 months

Initial Requirements: Copy of Income Tax Returns for last 3 Years, Valid Address Proof of the person wants Consumer loan; Bank Statement for last six months; Guarantors required; Copy Income Tax Returns of all guarantors,

Passport size photographs for all, Comprehensive insurance for the product in favor of Bank, First hypothecation will be stated on the product, Other Requirements which may arise at the time of loan sanction

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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.

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