Sudha Co-operative Urban Bank Limited started functioning on 17th January, 2000. The Bank is backed by 4000 share-holders and 9780 depositors/account-holders. The Bank has created its own History with 16 crores of deposits in several schemes and 11 crores of advances in as many as 16 loan segments. The Bank is rendering its services throughout the week including Sundays. The bank has reached 26 crores of business as on today. The bank has many schemes for women to encourage the savings habit in them. One of such scheme is “Vasudha” daily savings scheme.
Bank also revived the long forgotten cultural event “Thyagaraja Aradhanothsavam” in the town in the month of January every year. Bank honors veteran artists and arranges the concerts of many stalwarts in Carnatic Music.
Purpose: This loan finances expenses of higher education of eligible students in India or abroad.
Eligibility: Any student who has secured admission for higher education can apply for the loan.
Rate of Interest: The rate of interest for this personal loan is 12% per annum.
Repayment: During the course duration only the interest need to be paid. The EMI is decided after the course duration.
Security: Collateral security is to be submitted to obtain the loan.