Way back in 1984, a group of enthusiastic and co-operative minded people belonging to KDO Jain Community assembled and took a strong decision for launching a Co-operative Bank of their own in this great city of financial hub and monetary operations. The promotion work was entrusted to Shri. Pravin D Khona, Shri Laxmichand S Ratani & Shri Virchand L. Munver. The loan portfolio of the bank includes home loan, personal loan, educational loan, car loan etc.
PURPOSE – For Business /Profession Purpose
BENEFICIARY – All persons/Traders who are established in their line of Business and all professional persons such as Doctor, C.A etc
RATE OF INTEREST – For loan amount up to Rs. 10.00 Lakhs 13.00 % per annum, above Rs.10.00 Lakh to Rs.50.00 Lakh the rate is 14.00 % per annum and for loans above Rs.50.00 Lakhs it is 14.50 % per annum
MARGIN – 40% to 50%
REPAYMENT – Overdraft: 12 Months and loan in 60 months (Depending on Repayment Capacity); Repayable in EMI.
REQUIREMENTS – application Form, balance Sheet for last 3 years,
Tax Papers, Property Documents.
OTHER CONDITIONS – Bank’s Shares to be purchased; Two Guarantors with Net worth / Income.