THE VARACHHA CO-OP. BANK Limited – Travel Loan

By | May 29, 2011

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. The bank offers home loans, educational loan, personal loan etc. The Bank has been awarded with First Prize for the best performance among all Cooperative banks in Surat District during the FY.2000 – 01. At present the share capital and reserves raised to nearly 40 crores.

Purpose –           The loan is offered for the purpose of travel

Eligibility                     – Professionals, Self employed, Salaried

Quantum of Loan –           Maximum amount of loan for each person is two lakh

Rate of Interest         – 13%

Guarantee –           2 property owners guarantee, their bank account in SPCBL from past 3 years is necessary.

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

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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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