Self Surety

Eligibility of borrower ·         Last 3 year ITR with Balance sheet or Last 3 Months salary slip with Form No. 16 or Salary certificate.
Purpose of Loan    ·         Social ceremonies of the members.

·         Medical treatment of the members and his family   members.

·         Educational expenses of his children.

·         Repairing of his residential house, etc.
Quantum of finance ·         Maximum limit Rs.5.00 lac.

·         However equitable mortgage of immovable property either in his own name or in the name of guarantor, if loan amount exceeds certain amount as decided by the Board at their discretion.
Share Linkage Borrower must purchase Bank Shares @ 5% of the loan amount sanctioned.
Repayment period Maximum 60 months.
Rate of Interest    13.50%  p. a
Security ·         Two personal guarantors, having own immovable properties in their own name.
Documents 1.       D P Note

2.       Acceptance Letter of Loan Amount

3.       Letter of Guarantee, Lien & Set Off, Instalments and Consent

4.       Letter of sanction duly acknowledged by the borrower and guarantors.