Vikas Bank is a Cooperative registered under Karnataka Souhara Act 1997. It is licensed under Reserve Bank of India to do the business of Banking. . Vikas Souharda Cooperative Bank believes in positive lending. The bank has various loan schemes like home loan, vehicle loan, personal loan, business loan, gold loan etc.
Vikas Souharda Cooperative Bank is a community based organization. The bank has been rendering financial services to the growing needs of the people. The main customers of the bank are carrier owners and mine owners and the rest are traders, small and medium entrepreneurs and other needy people.
Purpose – The offer financial assistance for one’s day to day business activity
Rate of Interest – The rate of Interest is 15.50% per annum for loans up to 10 lakhs and 15% per annum for loans above 10 lakhs
Security Documents – Previous 3 years balance sheet and relevant papers required. Income tax assessment copies
Collateral security documents – Registered title deed- original; Previous title deed -original/certified copy/photocopy; Municipal endorsement transferring khata-original; Municipal khata extract for 13 years-original; Tax paid receipt for the current year-original; Encumbrance certificate for 13 years.