The Varachha Cooperative Bank Ltd., came into existence on 16th October 1995 and Inauguration ceremony was done by on the hand of Shree Swami Sacchidanand. This loan is for personal purpose like family holiday tour, medical treatment, education expenses, marriage etc. Repayment tenures are up to 60 months.
Purpose – Any personal use, Business use
Features – The personal loan offered by the bank include the following features
- Loans available for 60 Months.
- Easy Process
- Interest charge on actual reducing balance
- No Hidden Charges
- Nominal Processing Charge
- No Prepayment Penalty
- Interest will be charged on daily product bases.
Eligibility – You must be at least 21 years of age when the loan is sanctioned
Rate of Interest – 13.00%
Repayment – Repayment in easy installments spread up to 60 months. The borrower can prepay at will with no penalty, or pay more than his/her stipulated monthly installment at any time, depending upon availability of funds with you. This would enable the borrower to pay off the loan faster and reduce his interest burden. There is No Prepayment Penalty in home loan.