CREDIT PRODUCTS

CREDIT PRODUCTS

  • Personal Loan,
  • Business Loan
  • Asset Finance
  • Education Loan
  • Salary Advance
  • Welfare Scheme Loan
  • Contract Finance
  • Group /Cell loans
  1. CREDIT REQUIREMENT
  2. Application Letter
  3. Evidence of Capital/ Capacity adequacy to repay the facility
  4. Collateral
  5. Counterpart fund
  6. Other conditions as approved by the Management and supervisory body depending on the type of loan requested.
  7. OTHER CONDITIONS
  8. Applicant must have been in a relationship with us for minimum of three months
  9. Applicant must be a member/share holder or an investor
  10. Maturity period of all facilities granted is maximum of six months but could be renewed if well utilized
  11. Disbursement of approved facilities is between 0-21 days depending on the amount approved.
  12. Interest rate ranges between 0-10% monthly
  13. Agreed daily/weekly/monthly loan repayment plan attracts 10% penal charge on default plus 10% penalty on complete repayment default
  14. Two reputable Guarantors from the cooperative society or outside must sign for all membership loans or provisions of collateral for the loan granted.
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