Shriram Urban Co-operative Bank limited is in profit since inception and has been consistently receiving “A” classification in the statutory audit for all these years. Bank has complied all the norms of R.B.I. and it has been categorized as Grade 1 Bank as per R.B.I. yardsticks. The bank offers home loan, personal loan, educational loans, mortgage loan etc.
Purpose – Any purpose
Quantum of Loan – Cash Credit – Clean Limit up to Rs.1, 00,000; to the extent of 60% of own capital + funds from friends and relatives, to be related with debt equity ratio and current ratio.
Margin (Addition) – In case of Stock 40%; In the case of book debts 50%
Guarantors’ – Only two guarantors
Collateral security – in the form of F.D.R., L.I.C. policy, N.S.C., etc., and monthly Recurring Deposit;
If the turnover is more then 8 times of the sanction then reduction in margin can be considered depending on other parameter.
Others –
- Review/renewal every year. First sanction above 50,000/- will be at Head Office.
- Stock to be insured for full value with Bank clause.
- Stock statement to be submitted half yearly in June and December
- Drawl to be allowed to the extent of drawing power or sanctioned limit whichever is less.