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