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 – The home loan is offered for the construction of houses, buildings or flats and for purchase of buildings not older than 25
BENEFICIARY – Salaried, self employed, professionals or businessmen with repaying capacity are eligible for the loan
Quantum of Loan – Maximum Rs.50 lakhs
RATE OF INTEREST –
| Repayment | Up to Rs.10 lakhs | Up to RS.20 lakhs to Rs.30 lakhs | Up to Rs.50 lakhs |
| Up to 120 months | 11.50% per annum | 12.50% per annum | 14.50% per annum |
| Up to 180 months | 12.00% per annum | 14.00% per annum | 15.00% per annum |
MARGIN – Minimum 15%
REPAYMENT – Not more than 15 years
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.