Vikas Souharda Cooperative Bank Ltd – Housing loan

By Pradeep Yuvaraj | June 10, 2011

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. The 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 home loan is offered for the purchase of sites, repairing and renovating old house

Eligibility                     – Salaried and self employed with repaying capacity

Rate of Interest         – The rate of Interest is 12% per annum

Security                      – 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; N.A. Conversion order-copy; Approved layout plan-copy; Commencement certificate issued by HUDA, hospet-original. Building construction license issued by municipality-original; approved building construction plan-original.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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