Shriram Urban Co-operative Bank Limited – Personal Loans

By | June 15, 2011

Shriram Urban Co-operative Bank Ltd. Nagpur named after Lord Shriram, idol of the people of India commenced its business on the eve of Ramnavami, the 21st March, 1996. The bank 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 is continuously in profits since inception and has attained the status of ‘A’ Grade. This has been possible by the excellent co-operation extended by the erstwhile and the existing Directors of the Bank and all the employees for their dedicated and concerted efforts.

Purpose –           The personal loan is offered for any purpose

Quantum of Loan –           Maximum limit Rs. 1,00,000/-

Rate of Interest –           18.50%

Period Period 36 months to 60 months

Guaranty Only two guarantors

Mode of Repayment Post Dated Cheques or Standing Instructions or ECS

Calculation of Installment

Particulars Loan Amount 10,000 Loan Amount 50,000 Loan Amount 1,00,000
36 months 60 months 36 months 60 months 36 months 60 months
Salary Deduction & MoU 342.00 233.00 1709.00 1163.00 3418.00 2327.00
Collateral 354.00 246.00 1770.00 1229.00 3540.00 2458.00
General 364.00 257.00 1820.00 1283.00 3640.00 2567.00
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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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