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 area of operation of the bank is Nagpur district and the bank has been formed to mobilize resources from the public to cater to the credit needs of common man, small entrepreneurs, S.S.I. units, traders, professional and self-employed persons, service providers etc.
The bank offers home loan, vehicle loan, education loan, mortgage loan etc.
Purpose – The loan offers financial assistance for wedding, vacation, son’s/daughter’s admission to a foreign university, Medical treatment etc.
Eligibility – Age: At least 25 years; Salaried: Permanently employed at least for 02 years; self employed: Professional experience or business establishment for at least 2 years (with adequate proof)
Minimum Monthly Income: Salaried and Self Employed: BDT 30,000
Quantum of Loan – Loan amount maximum 30 lakh
Rate of Interest – 16.50%
Margin – Margin-30% against estimate of the architect for renovation
Security – Mortgage and original title deed; property insurance covering fire, earthquake, flood, and cyclone; Irrevocable General Power of Attorney (IGPA)