The Kapol Co-operative Bank Ltd. – Kapol Karishma

By | March 29, 2011

The Kapol Co-operative Bank Ltd. Was established in the year 1939 by Late Rajratna Shri Khushaldas Parekh, an educationalist, socialist and reformist. The bank was established with the main objective of the bank is to serve the economically weaker sections of the society. The bank achieved the “scheduled bank status” in January, 1988 and “Multi State” status on 9th August, 2000 with spread of its operations to Ahmedabad and Surat Districts in Gujarat State.

Purpose: This loan is against lease rental / rent receivables.

 

Eligibility: Owners who let out their properties to reputed companies, public sector undertakings, established commercial organization, multinationals, banks, other reputed institutions or individuals with adequate means can avail this loan.

 

Quantum of Loan: 70% of rent (up to maximum of 60 months rent receivables), not exceeding Rs.50.00 lakhs is granted as loan.

 

Rate of Interest: The rate of interest of this personal loan is 15%.

 

Margin: There is a 30% margin.

 

Repayment: The maximum period of repayment is 60 months or unexpired period of lease whichever is lesser.

 

Security: Property whose rent receivable is financed will be mortgaged or tangible security worth 1½ times of the loan amount will form the security.

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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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