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 aims at providing long term working capital against existing assets like, land & building, flats, offices, shops, business premises etc.
Eligibility: Corporates / Firms & Individuals can avail this personal loan.
Quantum of Loan: The maximum amount of loan that can be obtained for business needs is Rs. 50 lakhs and the maximum amount of loan that can be obtained for personal needs is Rs. 10 lakhs.
Rate of Interest: The rate of interest is 15% per annum.
Margin: 50% of market value is the margin.
Repayment: The maximum period of repayment is 120 months.