The City Co- Operative Bank – Loan against Pledge of Government Securities

By | June 11, 2011

The City Co- operative Bank has 8 branches in Mumbai and 2 branches in Thane District. The services of the bank include Safe Deposit Lockers at our Borivali (E), Dahisar (W), Mira Road (E), Girgaon and V. P. Road Branches.

RTGS facility – The system is secured and fund can be credited to the RTGS enabled Bank / Branch instantly. The system is instruction based and does away with the cheque & instrument there by reducing the delay in credit of proceeds & bouncing of the cheques.

Utility Bill  Payment – The bank offers the simplest way to pay Reliance Energy Bills at its Dahisar (West), Dahisar (East), & Borivali East ) branches.(By cheque /DD only). The bank also offers entire range of General and Life Insurance products with reputed Insurance Companies.

The bank offers home loan, personal loan, vehicle loan, educational loan, Mortgage loan, Loans against Rent receivable, Loans for Consumer Durables, Loan against Gold & Silver Ornaments and Loan against Term Deposits.

Purpose –           The loan offers financial assistance to meet the personal needs of customers

Eligibility                     – Holding the above securities.

Quantum of Loan       – 50% of the face value of NSC, KVP, of 2 years old & 75% of the face value more than 2 years old; 80% of the surrender value of LIC Policies;

Repayment                 – 36 months or up to the date of maturity whichever is earlier.

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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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