The bank was established in the year 1982 with an authorized Share Capital of Rs. 25.00 Lakhs and the paid up Share Capital of Rs. 4.00 Lakhs. The bank is rightly bracketed as one of the leading and top-most co-op. banks of the city.
In the year 2008/09, the bank had secured the 2nd prize for the stunning performance in the entire south Gujarat at the function of “Toppers Award” organized by “South Gujarat Bank’s Association”.
Purpose – for purchase of Consumer Durables etc
Eligibility – Salaried, self employed or professional with repaying capacity
Quantum of Loan – Maximum Loan facility @ 75 % of the purchase cost
Personal Guarantee – The bank requires at least two persons having income / asset respectable to the Bank as personal guarantee similar to other personal loan
Primary Security – Hypothecation of Consumer Durables
Rate of Interest – 14.00 %
Processing Charges – Nil
Pre-Payment Charges – Nil
Share Money Contribution – 2.5 % of the Limit Sanctioned.
Tenure For Repayment – Loan to be repaid in maximum 60 EMI.