The Greater Bombay Co-operative Bank Limited is commonly known as Greater Bank. It started about over five decades ago on 10th December 1952, when a small group of philanthropists got together to set up the Bank. Though the founders were pursuing interests of their own, they decided to establish the bank with the sole motto of serving the community at large. It offers home loan, car loan, personal loans, business loan etc
Purpose – to provide you with the financial assistance for your Holidaying and Tours (Inland & Foreign)
Eligibility – Salaried employees of reputed organizations, businessmen, Self-employed professionals filing Income Tax returns
Quantum of Loan – Maximum Rs.1.00 lakh
Basis of Advance – Maximum 80% of tour cost.
Repayment Period – Maximum 24 months E.M.I
Rate of Interest – The rate of interest is 13.00% per annum
Membership – Nominal where Recovery U/S 49 is available, otherwise regular membership
Share Holding – 5% of loan amount where recovery U/S 49 is not available
Security – Guarantors are not necessary if recovery under sec.49 is available, otherwise two guarantors having regular source of income including any Family members filing regular Income Tax returns; in case recovery u/s 49 is not available, then 24 post dated cheques are required to be obtained at the time of disbursement of the loan.
Collateral Security – Hypothecation of valuable items such as television, Computer, Car, Refrigerators, Music System etc