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 purchase of a computer or laptop for the purpose of education.
Eligibility: In case of individuals who are either Salaried or Businessman any person who is an income tax assessee for the last 2 years, or form no.16 including salary slip for the last month can avail this personal loan subject to the condition that the minimum net salary is Rs.5000/-.
Quantum of Loan: The maximum amount granted as loan is Rs. 50,000/-
Rate of Interest: The rate of interest is 14%.
Margin: There is a margin of 20%.
Repayment: The maximum period of repayment is 36 months.