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 higher studies in India or abroad.
Eligibility: The student must have good academic record.
Quantum of Loan: The maximum amount that is given as loan is Rs.10 lakhs.
Rate of Interest: The rate of interest for this personal loan is 12% per annum. For medical students the rate of interest is only 10%.
Margin: There is a margin of 25%.
Repayment: The maximum period of repayment is 60 months. This is including the maximum moratorium period of 6 months.