Kalyan Suvidha is the personal loan offered by The Kalyan Janata Sahakari Bank Limited for the purchase of Consumer Durables / Two Wheelers, House Repair, repayment of old debt, meeting expenses for ceremonies like marriage etc.
Purpose – For repair/ renovation of residence, for purchasing home appliances, for purchasing electronics goods, for purchasing two-wheeler, for repayment of old debts, to meet expenses of religious ceremonies, to meet medical expenses
Eligibility – Salaried employees, businessmen, self-employed, professionals having regular source of income
Maximum Amount – Rs.2 lakh
Margin Minimum – 10%
Repayment Period – 3 to 5 years
Guarantors – At least one guarantor with sufficient net worth and income, to be acceptable to the Bank
Collaterals – Not essential but may be called for depending up on other factors.
Processing Charge – 1 per cent of the Loan limit sanctioned.
Subscription of banks Share – Bank’s share to be purchased for 2.50% of the sanctioned limit or Rs.5 lakh, whichever is less; Dividend will be payable on this amount as per declaration of dividend by the Bank.
Pre-payment Charges – Pre-payment charges at 2% p.a. will be charged on the outstanding balance at the time of its closure before the due date.