The Kalyan Janata Sahakari Bank Limited – Kalyan Udyog

By | March 29, 2011

The Kalyan Janata Sahakari Bank Limited offers business loans named Kalyan Udyog in order to meet the expenses of Small and Medium Enterprises.


Purpose                      – The loan is offered for purchasing business premises (shop/office/ gala), for working capital and for any other business purpose.


Eligibility                     – Salaried employees or businessmen, self-employed, professionals, or people having regular source of income like any other personal loan


Maximum Loan Amount- MaximumRs. 500 Lakhs


Margin                         – 25% to 30%.


Repayment Period     – For working capital- 1 Year, For purchasing Shop/ Office / Gala etc.- 5 Years, for any Other purpose – 3 to 5 Years


Rate of Interest                     – Up to Rs. 10 lakh the interest rate is 13.00, above Rs. 10 lakh it is 13.00


Guarantors                 – Two guarantors with sufficient net worth and income, to be acceptable to the Bank


Collaterals                  – Additional immoveable property, if any and financial assets like FD, NSC, LIC policy etc


Processing Charge     – 1 per cent of the Loan limit sanctioned


Subscription of Bank’s Share- Bank’s share to be purchased for 2.50% of the sanctioned limit or Rs.5 lakh, whichever is lesser;  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

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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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