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: It is a loan to meet investment needs including subscribing to Rights and / or New issues of shares etc.
Eligibility: All Individuals, who are not in any way connected with any stock broking activity or stock broking entity can avail this personal loan.
Quantum of Loan: The maximum amount of loan in the physical form is Rs. 50,000/- and in the demat form the maximum amount is Rs. 10 lakhs.
Rate of Interest: The rate of interest is 15% per annum.
Margin: There is a 50% margin.
Repayment: The maximum period of repayment is 24 months subject to annual review.
Security: Shares, debentures, PSU Bonds, etc. stay as security for this loan.