Vijay Co-operative Bank Limited was instituted by Sh. Natwarlal Prabhudas Patel in the year 1963. Its registered office then was situated in Naroda at the Vijay Mills. The prime objective of commencement of Vijay Bank was to work for the less fortunate members of the community by enhancing their economic enterprises and create ample funds for providing financial aid to all deserving members, especially self employed women.
Vijay Co-operative Bank Limited offers its patronage various types of loans. Depending upon the requirement, one can avail of the loan facilities from the bank. It offers home loan, car loan, personal loan, consumer loan, educational loan etc.
Purpose – To offer working capital or project finance to builders and developers
Eligibility – Salaried, self employed or professional with repaying capacity
Margin – 50%
Rate of Interest – 14%
Duration – minimum 12 months maximum 50 months
Security – Mortgage of Project Property
Others – The applicant borrower must open Saving Bank/Current Account and furnish all papers/ documents as per the bank’s requirements.
The borrower/s and sureties/guarantors should execute the documents as required by the bank before disbursement of the loan.
The borrower should have exclusive banking with the bank. For opening and operating with any other bank, prior consent must be obtained from the bank etc.