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 – Any purpose other than investment
Eligibility – Salaried, self employed or professional with repaying capacity
Quantum of loan – Maximum Rs.10/- Lakhs
Margin – 50%
Rate of Interest – The rate of interest is 11%
Duration – 12-60 months
Security – Demate shares of “A” group.
Other Conditions – 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.
The applicant borrower eligible as per byelaws (Residing/carrying on business within the area of operation of the bank) must apply for entrance fee of Rs.10/-. Upon sanction of the loan, shares up to 5% of the loan amount or Rs.1 Lac, whichever is less must be acquired before disbursement of the loan etc.