Vaish Cooperative Adarsh Bank Ltd is an urban cooperative bank that was established in the year 1936 and has been serving the customers through its excellent service since then. It has 10 branches in the territory of Delhi itself. The bank adopted this name in 1964. The bank got its banking license in 1986.
The Bank was adjudged in 2005 the Best Performing cooperative bank for the financial year 2004-05 by the Delhi state cooperative union, Ltd. and cooperative department of the Delhi Government.
The Bank has been granting loans to the industrial units under the relocation Scheme launched the by Govt. of NCT of Delhi.
Purpose: This loan finances acquiring a plot.
Eligibility: Only regular customers of the bank with good health can avail this loan. The customer should not be of age greater than 60 years.
Quantum of Loan: The maximum amount that is granted as loan is 70% of the demand, i.e. 50% of the cost of the plot.
Security: Surety of a government employee or a semi government employee enrolled as a regular member is a must in case of this personal loan. The guarantor should not be more than 55 years of age.
Other features: 0.75% of the loan amount is charged as processing fee. Share worth 2.5% of the loan amount has to be taken which is refundable.