Loan Products
- 1)- Kisan Credit Card (KCC) :
Objective : The scheme aims at providing adequate and timely credit for composite credit requirements of farmers with flexible and simplified procedure, adopting while farm approach , including the short term needs and reasonable component for consumption needs.
Nature of Financial Accomodation:
The credit facility under this scheme will be in the nature of revolving cash credit and term loan facility for agriculture and allied activities.
Quantum of limit
The maximum amount of limit will be 50% at the value of land mortgaged as collateral security or Rs 8.00 lacs whichever is less.Subject to prevaling scale of finance.( for details please contact to our nearest Branch).
2)- Gramin Bank Vyapar Yojna
Purpose :
- i)- Simplified way of assessment of Working Capital Requirements of retailers, commission agents. whole sellers.
- ii)- Development of shop (e.g. purchase of equipments, P.C., air conditioner, furniture etc.& not for purchase of shop) or need based requirements subject to a maximum of 25% of working capital limit sanctioned.
- iii)- Non fund based facilities (i.e. Bank guarantee and letter of credit) .
Eligibility :
- i)- Individuals, Proprietorship Firms, Private limited cos. and registered cooperative societies engaged in trade of any commodity/ goods which are required by community and trading in them is not prohibited by law or opposed to public interest ( H.U.F. and Public Ltd Companies are not eligible)
- ii)- The business units should have been established in the line of business for more than two years.
- iii)- Trading units of our existing customers with satisfactory dealings or their close relatives, even if these are established for less than two years.
- iv)- Limit :- Maximum 25.00 lacs.
- v)- Method of assessment: 20% of projected sales or 50% of value of collateral security to be charged ,whichever is less.).
Security : Equitable Mortgage of Immovable Property/ pledge of NSCs, KVPs
( for details please contact to our nearest Branch) .
3)- Loan Against Property
Purpose :
To fulfill personal needs of customers such as Medical expenses, Marriage , Payment of school/ College fee or to meet unforeseen Family expenses .
Eligiblity :
- Salaried persons , Professionals ,self employed and others.
Limit : Minimum Rs. 1.00 lac and Maximum 5.00 lacs.
Security : Equitable Mortgage of immovable property.
Assessment of Limit :
A. Salaried persons
i) 20 times of net monthly income.
ii) 50% value of Mortgaged property .
B. For Others
i) Two times of net annual income ( for income proof copy of last three years income tax return / income certificate issued by revenue Authorities is acceptable).
ii) 50% of value of property mortgaged. .( for details please contact to our nearest Branch).
4)- Education Loan
Purpose :
To fulfill the Educational needs of students .
- i)- Educational loan scheme Gyan -Target group -parents of students persuing school education up to Nursery to 12th standard (Maximum loan Limit Rs. 4.00Lacs).
- ii)- Educational Loan Scheme Scholar-Target group -Students pursuing Graduation, Post Graduation ,Professional &other courses in India( Maximum loan Limit -Rs.7.50 lacs).1% rebate on interest for Girls .
- .(for details please contact to our nearest Branch).
5)- Clean loan or Personal loan scheme for Salaried persons
Purpose:
To provide loan against Salary to the employees of various Govt. /Semi Govt.
Institutions to meet their personal expenses.
Eligiblity:
Permanent Employees working in the Institution since last 5 years.
Limit :
10 times of gross monthly salary or Maximum Rs. 150000/00 whichever is less.Total deductions should be less than 60% of Gross salary. ( for details please contact to our nearest Branch).
6)- Swarojgar Credit Card
Purpose :
To provide adequate and timely credit i.e. working capital or fixed assets or both to rural artisans ,handloom weavers, service sector ,self employed persons ,rickshaw owners ,other micro entrepreneurs , etc.
Nature of facility:
The credit facility will be sanctioned as (a) term loan (for fixed assets ) (b) cash credit (hypo) for working capital .
Quantum of limit:
Maximum Rs.50000.00
( for details please contact to our nearest Branch).
7)- Mahila Silver Credit Card
Purpose:
In the hill area where the male population of the village migrate to cities for employment and women are engaged in agricultural activities but ownership of land is not in their name. To provide hassle free loan to the those women , Bank has introduced Mahila Silver Credit Card for their economic upliftment.
Nature of facility: Cash credit Limit.
Quantum of loan:
Maximum Rs.25000.00
(for details please contact to our nearest Branch).
8)- Gramin Bank General Credit Card
Purpose:
In order to provide hassle free credit to weaker section of the people of rural and semi urban areas based on the assessment of income and cash flow without insisting on security ,purpose or end use of the credit , bank has introduced Gramin Bank General Credit Card (GBCC).
Nature of facility: Cash Credit Limit .
Maximum Credit Limit Rs. 25000.00
( for details please contact to our nearest Branch).
9)- Housing Loans
Purpose:
Construction of Residential House or Purchase of Ready made Residential House .
Nature of facility: Term Loan .
Eligibility:
Three times of average income of last three years as per ITR
Maximum Limit; RS.5000000.00
Security:
Equitable Mortgage of land and building constructed therein.
(for details please contact to our nearest Branch).
10)- Solar Light( Har Ghar Main Ujala Yojana)
Purpose:
Purchase of Solar Energy Equipments.
Nature of facility: Term Loan.
Eligibility of Borrower :
Repaying Capacity Of Borrower .
Loan Limit :
Maximum 85% of cost of system and accessories
( for details please contact to our nearest Branch).
11)- Marriage Loan (Shubh Vivah Yojna )
Purpose:
To meet the expenses of marriage of daughter / son / dependent brother / sister or self.
Nature Of Facility: Term Loan.
Eligibility:
Any individual below the age of 60 years having sufficient income for the repayment of the loan.
Security:
Equitable Mortgage, Pledge of NSCs, Assignment of LIC policies etc. (Value of collateral security should not be less than loan amount.)
Loan Limit: Two times of net annual income or Rs 2.00 lacs whichever is less.
(for details please contact to our nearest Branch).
12)- Private Car /Two Wheeler Loan
Purpose:
New Cars /Vans/ Two wheelers for family/Professional use.
Beneficiaries :
Salaried persons / professionals/& others. For car loan the applicant should be income tax assessee /or having repayment capacity of loan installments.(total deductions/monthly installments of loan should be within 60%of the gross monthly income .
Loan Limit :
Maximum 85% of cost of car . (for details please contact to our nearest Branch).
13)- Loan to Transport Operators.
To provide financial assistance to transport operators for purpose of Trucks, Bus, Taxi etc. Finance is avaivable with or without collateral security margin minimum 15%.
14)- Loans to Doctors & Medicine Dealers
To provide finance to doctors for hospitals equipments etc and to wholesale, retailers of medicines. Banks is providing finance on concessional rates of interest.
Self Help Groups (SHGs):
SHG Bank linkage programme started as a pilot project in 1992 with 500 SHGs. SHGs comprise homogeneous groups of poor people who have voluntarily come together mainly with the idea of overcoming their common problems of low social and economic status. SHGs enable the poor, especially the women from the poor households, to collectively identify, prioritize and tackle the problems they face in their socio economic environment. By pooling their meager resources and using them for lending among themselves, they develop the habit of thrift and the skill of credit appraisal, before getting mature enough to access a loan from banks, which is called credit linkage. Starting with small loans for consumption they soon graduate to bigger loans for setting up of income generating micro-enterprises. Today, NABARD's SHG Bank Linkage Programme boasts of over 26 lakh SHGs and 3.9 crore households influencing the lives of over 16 crore poor population. During the year 2006-07 alone, as many as 458591 groups were credit linked. As of now there are 1873 SHGs associated with our bank and out of which 835 Groups has been linked for Bank credit. We are also trying vigorously to emancipate the rural poor from the clutches of money lenders.
(for details please contact to our nearest Branch).
Farmer’s Club
A popular intervention among both farmers and Bankers, the farmers Club concept was envisaged as an experiment in social engineering, a forum to bring the rural banker and the borrower closer and to propagate the principles of development through credit. Farmers Club is an informal group of 10-20 farmers, which acts as a medium for accessing and disseminating awareness of modern methods of farming and technological advancements in agriculture in its area. Financial support is provided by NABARD for opening and maintenance of Clubs as well as for organizing training programmes in the respective villages. With corporates and food chains looking for supply chain linkages of farm produce, Farmers Clubs may have an important role to play in joint production and marketing of farm produce. Farmer’s club acts as a bridge between the bank and the rural mass. As on 30 Nov 2009 , there were 168 Farmers Clubs in our area of operation. (for details please contact to our nearest Branch).
Scheme to finance Joint Liability Groups of tenant farmers
A Joint Liability Group (JLG) is an informal group comprising preferably of 4 to10 individuals coming together for the purposes of availing bank loan either singly or through the group mechanism against mutual guarantee. The JLG members would offer a joint undertaking to the bank that enables them to avail loans. The JLG members are expected to engage in similar type of economic activities like crop production. The management of the JLG is to be kept simple with little or no financial administration within the group. JLGs can be formed primarily consisting of tenant farmers and small farmers cultivating land without possessing proper title of their land.
- Members should be of similar socio economic status and background carrying out farming activities and who agree to function as a joint liability group.
- The groups must be organised by the likeminded farmers and not imposed by the bank or others.
- The members should be residing in the same village/ area and should know and trust each other well enough to take up joint liability for group/ individual loans. (for details please contact to our nearest Branch).
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