HYPOTHECATION, HOUSING LOAN, STHAVAR MILKAT LOAN (FOR REPAIRING HOUSE), NOKARIYAT LOAN TO SEMI GOVERNMENT AND GOVERNMENT EMPLOYEES, GOLD LOAN, OVER DRAFT AGAINST GOLD, SECURED OVERDRAFT, PERSONAL LOAN, MACHINERY LOAN, VEHICLE LOAN
SHAKHPATRAK – OVERDRAFT AGAINST PROPERTY
MORTGAGE LOAN – LOAN AGAINST PROPERTY
The bank sanctions personal loan upto Rs. 1 lakh without security but against two reliable guarantors. The loan period shall be of 36 months. Int. 11% compounded.
The bank sanctions housing loans to individuals against the mortgage of own residential property maintaining margin of 30% against the valuation of the property. The valuation of the property shall be carried out by bank’s approved valuer. The maximum loan amount is Rs, 75 lakhs
The bank sanctions bullet gold loan upto Rs. 1 lakhs to nominal memebers of the bank and upto Rs 2 lakhs to regular member of the bank.
The also sanction to its regular member gold loans upto Rs. 10 lakhs for their business/consumption need.
The bank sanctions overdraft/loan against the bank’s own deposit mainatining margin of 20% on accrued value.
The bank sanctions hypothecation/CC to the members of the bank against hypothecation of Stock and mortgage of immovable assets and against two reliable guarantors. The maximum loan shall be 70% of stock / valuation of mortgaged property. The maximum loan sanctioned to each member is Rs. 100 lakhs.
The bank sanctions Vehicle loans upto Rs. 50 lakhs to its members against the hypothecation of vehicle purchased out of loan proceeds and against two reliable guarantors. The margin is 25%
Depending upon the quantum of loan the collateral security of mortgage of immovable property shall be obtained.
The bank sanctions to its members the business loan (mortgage loan) against the mortgage of immovable property .The loan period range from 5 years to 10 years. The loan is repayable by equal EMI.
The also sanction overdraft against the immovable properties to its members. The maximum loan is 70% of the valuation of the immovable property to be mortgaged subject to Rs. 100 lakhs.
The bank sanctio ns loans upto Rs. 1 lakhs to the employees of Gondal Nagarpalika, other government departments agains the mandate of deduction from salary and two reliable guarantor.
The bank charges 11% compound interest on all the loans specified above. The bank charges 1% above the deposit rate on loan/overdraft against bank’s own FD.