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 those who are self employed and professionals like Doctor, Lawyer, Teacher and Chartered Accountant. This loan is available for 12 month to 60 months with competitive interest rates.
Purpose – For Equipments, Furniture & Business Property
Features –
- Loans available for 12-60 Months.
- Margin 20%
- 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.
- Special Scheme for doctors 100% finance for vehicle/equipments.
Eligibility – Professionals, Self employed
Margins – 20 % Margin for Personal Loan for business purpose
Rate of Interest – 10.50% Interest yearly
Repayment – Repayment in easy installments spread up to 12 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. The bank does not charge any Prepayment Penalty