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.
Gold ornaments have always been one of the safest assets to almost every person in our country. It has now used as a security to avail a loan.
Purpose – To offer financial support for customers in times of emergency needs against one’s gold
Rate of Interest – The loan is offered at 12% per annum
Period – Maximum period for repayment is 12months; Repayment of principal through bullet payment on due date; Interest should be paid as and when it is applied
Security – Gold
Guarantor – No guarantor is required
Documents – Photo, Photo I D, Residence proof etc