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 Sarvodaya Sahakari Bank Ltd., Surat is rightly bracketed as one of the leading and top-most co-operative banks of the city. It offers home loan, personal loan, vehicle loan, business loan, agricultural loan etc.
Purpose – The loan is offered for purchase of Consumer Durables etc.
Eligibility – Any salaried persons or Professionals – Self Employed or Businessman are eligible for the loan
Quantum of Loan – Maximum Loan facility @ 75 % of the purchase cost; Amount of Loan will depend upon the repaying capacity.
Personal Guarantee – of at least two persons having income or asset expectable to the Bank
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.