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. The Kapol Co-operative Bank Ltd. is one of the fastest growing scheduled banks in India. The bank has a customer base of above 2.5 lakh customers and 67963 share holders.
Purpose: This loan finances professionals and self employed people to purchase of shop, equipments etc. in order to expand their trade.
Eligibility: Practicing doctors, advocates / solicitors, chartered accountants, engineers, architects, etc. who have sufficient capacity for repayment of this personal loan can avail this loan.
Quantum of Loan: The maximum amount that can be attained as loan is Rs.10 lakhs.
Rate of Interest: The rate of interest is 12% per annum.
Margin: There is a 30% margin for this loan.
Repayment: The maximum period of repayment for the loan is 60 months.