Yavatmal Urban Co-op. Bank offers innovative service and schemes. The bank was registered under Maharashtra State Co-operative Societies Act, 1960 on 12th April, 1965 vide registration no. YML/BNK/114 and license number UBD/MH/906P on 9th Nov.1987 and is governed by the Banking Regulation Act 1949 (A.A.C.S.) sec 5(CCV).
The bank is renowned for its products and services. The loan products of the bank include home loan, personal loan, educational loan, vehicle loan etc.
Purpose – The loan is offered for any personal or business purposes
Eligibility – Salaried, professional or self employed
Quantum of Loan – Maximum Rs. 10 lakh or 4 times net annual income which ever is less. Term loan up to 65% of valuation by panel valuer
Security – property hypothecated in favor of Bank
Guarantor – Two guarantors are required
Others – 3 years I.T. returns along with Balance Sheet and Profit & Loss account and last 6 months Bank statement; Property under HUF, in Joint name and HIBA not allowed;
Certificate of the Architect to be obtained as regards the life of the property and valuation;Registered mortgage with deposition of title deed; Property to be insured for its present market value with Bank clause;