The Zoroastrian Co-operative Bank Ltd offers loan scheme for professionals like doctors, lawyers, chartered accountants, architects, interior designers, fashion designers, audio & video lab owners. The bank offers special concessions like easy Installment, no processing charges, no prepayment charges and one guarantor. The sanction amount ranges from 75% to 90% of Invoice Value, depending upon asset to be acquired unlike other business and personal loan.
The bank offers special Microfinance Scheme for Entrepreneurs under which special Microfinance Fund of Rs. 5 Crores has been set up, out of which they will be financing Entrepreneurs, to help them set up a new business or service or profession or enhance their existing ventures.
The lending will be in the form of a Term Loan up to a maximum amount of Rs.10 Lakhs per borrower, for setting up business or for equipments, machinery, furniture etc. The margin is fixed on case to case basis depending on the financial status of the applicant. Repayments will be spread over a maximum period of 60 months by way of fixed EMIs.
The bank also offers a scheme called ZorBiz Finance, which offers temporary overdraft facility and / or withdrawal against effects allowed to current account Holders to meet unforeseen or urgent business requirements. The maximum amount allowable is up to Rs.10.00 Lakhs against 50% of the value of property mortgaged.