The Varachha co-op. Bank limited – Business or Industrial Loan

By | May 24, 2011

The bank offers business or industrial loan business man and industrialist who are planning for new plant machinery, fixed assets or else they want to upgrade their old machinery. Even they can take loan for cash credit, overdraft, working capital term loan, cash purchase cum credit sales, bills discount against L.C., etc. The bank’s loan portfolio is comprised of personal loan, educational loan, business loan, home loan etc.

Purpose                      – Purpose for business and industries (for plant machinery, fixed assets, cash credit, overdraft, working capital term loan, cash purchase cum credit sales, bills discount against L.C., bills discount.

Features –           The following are the special features offered by the bank

  • Finance for total project.
  • Finance for machinery, stock.
  • Loans available for 3 years and more.
  • Interest charge on actual reducing balance
  • No Hidden Charges
  • Nominal Processing Charge

Margins                       – 20 % Margin for Personal Loan
Interest –           Interest will be charged on daily product bases

Repayment –           Repayment in easy installments spread up to 3 year to more than 5 years also. The borrower can prepay at will with no penalty, or pay more than their stipulated monthly installment at any time, depending upon availability of funds with you. No Prepayment Penalty

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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