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Direct Loan

The Bank provides financial assistance to small business men / artisans for the existing business. The maximum limit of this loan is Rs.5,00,000.00 repayable in 36 monthly equal installments. The applicable rate of interest is compounded in monthly intervals
The Loan is granted in the following terms and conditions
(1) The borrower should be a nominal member of the bank having a Savings Bank / Current account with regular transaction.
(2) The loan amount should cover 100% security either in the form of land mortgage or pledge of Term Deposit of the Bank / NSC / KVP /LIC.
CASH CREDIT TO INDIVIDUALS
The Bank provides Cash Credit Loans to business men/artisans and other professionals to meet their Working Capital requirements in the following terms and conditions.
(1) The applicant must be a nominal member of the Bank
(2) He / She should have an existing business for which he / she applies Cash Credit Limit. The period of Loan is One year and it will be renewed on the request and performance of the account.
(3) The Limit applied must cover 100% security either in the form of land mortgaged or pledge of Term Deposit held with the Bank or KVP/NSC/LIC.
(4) There shall be 2 Nos. of guarantors.
(5) The stock of the business shall be hypothecated to the Bank.
(6) The Bank reserves the right to alter, amend or rescind any of the terms and conditions mentioned above.
LOAN TO WOMEN SELF HELP GROUP (WSHG)
The Bank provides financial assistance to Women Self Help group (WSHGs) both for individual activities of members and group activities. After 6 months of formation, the SHG can apply for loan to Bank. The volume of loan to be sanctioned depends upon the activities, which the Group intends to undertake.