Wainganga Krishna Gramin Bank – Housing Loan Scheme

By Pradeep Yuvaraj | March 29, 2011

Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wainganga Kshetriya Gramin Bank, Chandrapur, Solapur Gramin Bank, Solapur and Ratnagiri-Sindhudurg Gramin Bank, Ratnagiri.

The authorized capital of the Bank is Rs. 500.00 lakhs and the paid up capital is Rs. 400.00 lakhs. Government of India, Government of Maharashtra and Bank of India has contributed 50 %, 15%, and 35% of the share capital respectively

Purpose: This best home loan finances acquiring a house.

 

Quantum of Loan: Up to a maximum amount of Rs. 20 Lakhs is granted as loan Under Priority Sector & above Rs. 20 lakhs NPS maximum Rs. 50 lakhs.

Eligibility: This loan scheme is restricted to allotted 12 Districts of Maharashtra.

Margin: Up to Rs. 10 lakhs there is a margin of 15 % and above Rs 10 lakhs the margin is 20%.

Rate of Interest: Interest rates differ on the basis of amount of loan & repayment period. The maximum rates for the repayment period of 15 to 20 years are as below.
Up to Rs. 05.00 lakhs -10%,

Rs. 5.00 to 20.00 lakhs – 10.50%,

Over & above Rs. 20.00 – 11.50%

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Pradeep Yuvaraj

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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