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Loans
| Name of the Scheme | Members Medical Relief Scheme-secured |
| Eligibility |
1.All the members including our staff membes with active membership AS ON 30.09.2021 2.Member or his family members shoud have incurred medical expenses for treatment of COVID 19. 3.Doctor Certificate or Bills for medicines or Doctor Prescription or any other proof should be obtained as a proof of the above expenditure. 4.If such Documents are not available, loan can be considered by obtaining a self declaration giving full details of the patient, doctors name, medicines used etc. Loans can be considered in respect of the expenses incurred for the treatment of members/family members who expired on account of COVID 19. |
| Type of loan | Secured Loan |
| Security |
1.Mortgage of immovable property for 200% of the loan amount (MOD is to be done) or 2.NSC Bond, LIC Policy, Term Deposit etc.In respect of LIC Policy,Surrender value certificate should be taken and policy should be assigned to the bank. In respect of NSC bonds, the same should be transferred in favour of the Bank. In respect of term deposits, lien to be noted and DL application to be obtained. In respect of above paper secutities loan can be considered up to 80% of the value. |
| Purpose | To meet medical expenses incurred on COVID treatment. |
| Amount of Loan | 10 times of the share capital of the member outstanding as on 30.09.2021, subject to maximum of Rs.5,00,000/- |
| Rate of Interest | 7.00% |
| Repayment |
Not exceeding 60 EMI |
| Repayment Capacity |
The applicant should have repayment capacity, as computed in the application form. If the applicants income is not sufficient for repayment, coobligats income can be added. Proof of income should be obtained |
| Coobligation |
1.Suitable Co obligation should be obtained 2.Spouse of the applicant should be taken as coobligant 3.If spouse does not have any income, co obligation of another person with adequate income for repayment should be obtained in addition to the coobligation of the spouse. 4.Coobligant can be family member or third party having income 5.Incase of loans to staff members, take home pay should be 40% after factroing the instalment of the proposed loan.Salary cutting should be effected.No Co obligation is required. |
| Processing Charges |
0.60% Legal Opinion and valuation (by Branch Manager) should be obtained. |
| Sanctioning Authority up to 2.00 lakhs |
1.Branch Manager jointly with Zonal Manager 2.Zonal Manager should not sign the application as a matter of routine. He should properly analyze the proposal and then only sign. 3.If the Branch has no ZM, the application should be sent to HO. |
| Sanctioning Authority above 2.00 lakhs |
Sub Committee |
| Other Conditions |
1.Member Loans at 6.00%, if taken, should not be outstanding. 2.Undertaking letter that Matching share linked Deposit will not be withdrawn during the currency of the loan. 3.Authorizaion to bank to forfeit the Term Deposit, in case of default to be obtained 4.Branches should mark lien on term deposit (Share link deposit) towards this loan 5.Processing charges @0.60% to be charged 6.Branch Manager should assess the repayment capacity of the member and co oblignat and then only sanction the loan 7. Loans should be, Preferably, sanctioned for only one member in a family. However, if the other members belonging to same family have sufficient repayment capacity, and eligibility they can also be considered for sancion of the loan.However, when more than one loan is sanctioned in a family, branch should carefully assess the repayment capacity of each borrowing member and after through satisfaction only such loans should be sanctioned. 8.Share capital :5% as per rules. If the existing share capital is adequate to cover the proposed loan, additional capital need not be collected. |
| Date of Commencement | This scheme will commence from 01.12.2021 |
| Name of the Scheme | Members Medical Relief Scheme-Unsecured |
| Eligibility |
1.All the members including our staff membes with active membership AS ON 30.09.2021 2.Member or his family members shoud have incurred medical expenses for treatment of COVID 19. 3.Doctor Certificate or Bills for medicines or Doctor Prescription or any other proof should be obtained as a proof of the above expenditure. 4.If such Documents are not available, loan can be considered by obtaining a self declaration giving full details of the patient, doctors name, medicines used etc. Loans can be considered in respect of the expenses incurred for the treatment of members/family members who expired on account of COVID 19. |
| Type of loan | Clean Advance |
| Purpose | To meet medical expenses incurred on COVID treatment. |
| Amount of Loan | 10 times of the share capital of the member outstanding as on 30.09.2021, subject to maximum of Rs.2,00,000/- |
| Rate of Interest | 7.50% |
| Repayment |
Not exceeding 36 EMI |
| Repayment Capacity |
The applicant should have repayment capacity, as computed in the application form. If the applicants income is not sufficient for repayment, coobligats income can be added. Proof of income should be obtained |
| Coobligation |
1.Suitable Co obligation should be obtained 2.Spouse of the applicant should be taken as coobligant 3.If spouse does not have any income, co obligation of another person with adequate income for repayment should be obtained in addition to the coobligation of the spouse. 4.Coobligant can be family member or third party having income 5.Incase of loans to staff members, take home pay should be 40% after factroing the instalment of the proposed loan.Salary cutting should be effected.No Co obligation is required. |
| Processing Charges | NIL |
| Sanctioning Authority |
1.Branch Manager jointly with Zonal Manager 2.Zonal Manager should not sign the application as a matter of routine. He should properly analyze the proposal and then only sign. 3.If the Branch has no zm, the application should be sent to HO. |
| Other Conditions |
1.Member Loans at 6.00%, if taken, should not be outstanding. 2.Undertaking letter that Matching share linked Deposit will not be withdrawn during the currency of the loan. 3.Authorizaion to bank to forfeit the Term Deposit, in case of default to be obtained 4.Branches should mark lien on term deposit (Share link deposit) towards this loan |
| Name of the Scheme | Gold (Term) Loan |
| Eligibilble | Individuals or firms who can offer Gold Ornaments for availing loans |
| Purpose | Business purpose or personal needs or any other genuine purpose |
| KYC | Normal KYC guidelines and insist on SB/CD account for the Customers, |
| Quantum of the loan |
As per the scale of finance of per gram rate advised by central office or the amount requested by the borrower ,subject to Repayment Capacity of the borrower, which ever is less Maximum Loan limit Rs.50,00,000 |
| Repayment |
1.Maximum 60 months in monthly installments. Lesser repayment shedule may also be considered by the sanctioning authority as per the customer's request 2.Installment will be Rs.2052/---(@8.50) for 60 months per Rs.1,00,000 loan 3.Rs.2028/-(@8.00%-) per month per for 60 months Rs,1,00,000 loan |
| Interest Rate |
8.50% for personal expenses 8.00% for business purpose |
| Repayment Capacity | Branches have to access the repayment capacity of the borrower on the same lines of mortgage loans Necessary columns incorporated in the application form |
| Papers to be obtaines |
1) Application form specially designed for Gold (Term) Loan 2)Income proof 3)Purpose proof or declaration 4)Declaration from the borrower agreeing to pay EMIs and also agreeing for banks right to auction the ornaments if 3 EMIs fall in to arrears and also to bring in the margin, if the value of Gold comes down. 5.If loan is for business purpose, photo of the unit and the documentary proof of business. |
| Doumentation |
Application cum appraisal report Demand promissory Note Repayment Agreement Declaration |
| Stamp Duty |
Rs.1/- for pronote Rs.100 for Agreement |
| Appraisal of ornaments |
Up to Rs.20.00 lakhs-Branch Appraiser should appraise For Loans Above Rs.20.00 lakhs-Two appraisers should appraise the ornaments |
| Sanctioning Authority |
Up to and Incusive of Rs.10.00 lakhs (Stand alone or Aggregate) : Branch Manager Above 1.00 lakhs up to Rs.20.00 lakhs: Branch Manager and Zone Manager jointly.. Incase of absence of ZM, matter to be referred to HO for signature of an officer in HO. Loans exceeding Rs 20.00 lakhs (Stand along aggregate) : Board |
| Credit Monitoring | Branches have to monitor the loans for promt recovery of installments every month |
| IRAC Norms | Account will slip to NPA if installments fall into arrears for more than 90 days |
| Name of the Product | VCBL Rent Plus |
| Customers eligible to apply | All types of customers like lndividuals,Proprieta ry Concerns, Pa rtnerships, Companies, Trusts, Societies etc, who are owning properties which are leased out on Rent or ProPosed to be leased out |
| Nature of facility | Term Loan |
| Security | The property wlrich is leased out or proposed to be leased out. ln case the property could not be mortgaged,alternate property can be mortgaged. Properties leased out to Schools,Colleges, Hospitals, Old age Homes, etc cannot be mortgaged as security,Security should be SARFAESI compliant |
| Amount of Loan | Least of the following 1) 60% of the value of the ProPerty mortgaged 2) 75% of the rent receivable for the residual lease period or loan period, which ever is lower minus totalof advance deposit, property tax, service tax, TDS, and other statuto dues payable during the period. |
| Minimum and Maximum amounts |
Rs.1.00 lakh to Rs.5.00 crores |
| Tenants | MNCs, Banks, Companies, Partnerships, Propriety concerns, I nd ividua ls. Properties leased out to Schools, Colleges, Hospitals, Oldage Homes, etc cannot be mortgaged as security. |
| Repayment Period | 120 months or Residual Period of lease, which ever is less. |
| Rate of interest | Click Here |
| Processing charges | 0.60% |
| Take over charges | 2.00% |
| Other Conditions | ECS/ Post dated cheques Tripartite Agreement from tenants |
| Eligibility | The loan scheme is designed especially for small business people. The concern should be in the same business activity at least for a minimum period of one year and the business activity should be in the operational area of the branch. The stake holders should be the permanent residents of the area. |
| Primary Security | Hypothecation of stock & book debts etc. |
| Collateral Security | No collateral is required up to 2 laks. Beyond 2.00 lakhs, additional security in the form of Mortgage of immovable property is required to submit. |
| Amount of Loan | Minimum One lakh-Maximum Rs. Five lakhs. (Loan can be availed in multiples of Rs.50000 between One lakh to Five lakhs.) |
| Margin | Finance up to a maximum of 20-25% of past/expected annual sales of the business unit. |
| Rate of Interest | Click here |
| Tenure of Loan | The tenure is from 90 days to maximum 360 days. |
| Contribution to Share Capital and others | 2.5% of the loan amount of which, 1% as share capital subject to a maximum of Rs.1.50 lakhs & 1.5% as Term deposit . |
| Processing charges | 0.6% of the loan amount |
| Other charges |
2% of the share capital amount has to be contributed towards the Members Welfare Fund and Rs.25/- towards admission fees. |
| Required documents |
KYC Documents in respect of the business concern and also the promoters/proprietor/partners etc.If the loan for acquisation of Fixed Assets in the form of tools/machinery/furniture fixtures etc, borrower/s need to produce quotation/proforma invoice at the time of submitting application and on disbursement of the loan, the related bills to be produced In case the loan is intended towards payment of trade creditors, they need to submit the proof of existence of debt |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. The Loans are specially designed for doctors, Chartered Accountants & other professional for purchase of equipment construction/ development of their hospitals, offices & other Assets etc. |
| Primary Security | The property proposed to mortgage should have been obtained by purchase / valid gift. There should be no encumbrances over the property. The title of the property should be clear and marketable as per the opinion of the Bank. The applicant should be in a position to submit other relevant documents in connection with the property, link documents, encumbrance certificate, Property tax receipts, etc., The surplus income of the proponent supported by documentary evidence, should be sufficient to repay the equated monthly installments. The Bank should satisfy with the calculation of surplus income and has sole discretion to decide the surplus. |
| Collateral Security | Third party guarantee, if thought necessary by the bank is to be furnished. The bank should satisfy with the credentials of the guarantor. |
| Amount of Loan | Amount of loan depends on the cost of the project and the value of property proposed for mortgage. |
| Margin | Finance up to a maximum of 60% of the market value of the property as estimated by the bank. |
| Rate of Interest | Click here |
| Tenure of Loan | The tenure is from 12 months to 120 months, depending upon the income of the proponent and cost of the project. |
| Contribution to Share Capital and others | 2.5% of the loan amount of which 1% as share capital subject to a maximum of Rs.1.50 lakhs &1.5% as Term deposit |
| Processing charges | 0.6% of the loan amount |
| Other charges |
Charges as applicable under stamp act and as prescribed by government of Andhra Pradesh from time to time for noting the mortgage. 2% of the share capital amount has to be contributed towards the Members Welfare Fund and Rs.25/- towards admission fees. |
| Required documents | Original Title deeds, link documents for thirty years (Earlier documents to the title deeds to establish the transfer of rights), Latest tax receipts in original, KYC documents OF Applicant along with sureties/guarantors , PAN card if available, Photographs of self and joint holders of the property, Municipal plan, Income tax returns for the last three years in case of an assessee, last three years balance sheet and profit and loss account in case of existing units, project report in case of new project. |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. The loan scheme is for financing housing sector for construction as well as purchase of residential houses/ flats. |
| Primary Security | The applicant should be a major; intent to purchase/ construct a house/flat which has a market value is eligible to avail this facility. The property should have been obtained by the vendor through purchase / valid gift. There should be no encumbrances over the property. The title of the property should be clear and marketable as per the opinion of the Bank. The applicant should be in a position to submit other relevant documents in connection with the property, link documents, encumbrance certificate, rent receipts, etc., The surplus income of the proponent supported by documentary evidence, should be sufficient to repay the equated monthly installments. The Bank should satisfy with the calculation of surplus income and has sole discretion to decide the surplus. |
| Collateral Security | Third party guarantee, if thought necessary by the bank is to be furnished. The bank should satisfy with the credentials of the guarantor. |
| Amount of Loan | Amount of loan depends on the cost of construction of the House/value of the property proposed for purchase. |
| Margin | Finance up to a maximum of 60-70% of the market value of the property as estimated by the bank. |
| Rate of Interest | Click here |
| Tenure of Loan | The tenure is from 12 months to 240 months (including moratorium/holiday period) depending upon the income of the proponent and cost of the project. |
| Contribution to Share Capital and others | 2.5% of the loan amount of which 1% as share capital subject to a maximum of Rs.1.50 lakhs &1.5% as Term deposit |
| Processing charges | 0.6% of the loan amount |
| Other charges |
Charges as applicable under stamp act and as prescribed by government of Andhra Pradesh from time to time for noting the mortgage. 2% of the share capital amount has to be contributed towards the Members Welfare Fund and Rs.25/- towards admission fees. |
| Required documents | Original Title deeds, link documents for thirty years (Earlier documents to the title deeds to establish the transfer of rights), Latest Rent receipts in original, KYC DOCUMENTS OF Applicant along with sureties/guarantors , PAN card if available, Photographs of self and joint holders of the property, Municipal plan, Income tax returns for the last three years in case of an assessee, income proof (salary certificate latest), three years balance sheet and profit and loss account in case of business persons. |
Educational Loans:-
Eligibility Criterion:
- Any student who is a major representing himself or a minor student represented by parent or guardian of Indian Nationality and either he / she should be a member or his / her parent is having at least 2 years history in membership of the Bank.
- Must have secured admission on the basis of merit to professional / technical / other courses through entrance test / selection process. Deviation / relaxation is also permitted under special circumstances.
- Must have secured admission to Foreign universities / Institution (for studies abroad)
Courses:-
- School education upto +2 (Intermediate)
- Graduation
- Post Graduation
- Professional Courses
- Courses like ICWA, CFA,CA etc.,
- Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.,
- Courses offered in India by reputed foreign universities
- Evening courses of approved institutes
- And such other courses approved and conducted by UGC / Govt AICTE / AIBMS / ICMR etc., National Institutes and other reputed private institutions acceptable to the Bank.
Quantum of Loan:-
Need based finance subject to repaying capacity of parents / students with following expenses.
- Fees payable to School / College / Hostel
- Examination / Library / Laboratory Fees
- Purchase of Books / Equipment / Instruments / Uniforms
- Caution Deposit / Building Fund / Refundable Deposit
- Travel Expenses Passage Money for studies abroad
- Purchase of Computers considered necessary for completion of the course
- Any other expenses required to complete the course like study tours, project works etc.,
Share Linking:-
- Maximum 5% of the loan amount shall be contributed towards Share Capital (in a phased manner correlating to disbursement of loan)
- 2% on Share Capital shall be paid towards Members Welfare Fund and a one time payment of Rs.25/- towards admission Fees.
Security:-
- No tangible security up to Rs.1.00 Lakhs
- Tangible collateral security (immovable property) either of student’s parents or third party and with further income assignment for payment of installments by the student for loans above Rs.1.00 lakhs
- All loans should be secured by parent(s) / Guardian(s) of the student borrower. In the case of married person, co-obligator shall be the spouse or parent(s) / parents-in-laws
Repayment Schedule:-
- Maximum period for repayment of the loan is 7 years
Features:-
- There is a special discount in interest rates for students who were awarded merit awards (Welfare Schemes Link) by the Bank.
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility |
| Primary Security | The goods/machinery/live stock/articles for which the bank has financed are the primary security. |
| Collateral Security | Group member’s joint and / or several guarantees. |
| Amount of Loan | Depends on the activity of the proponent subjected to a maximum limit of Rs.10,000/- per borrower. |
| Margin | Nil |
| Rate of Interest | Click here |
| Tenure of Loan | Maximum 52 weeks. |
| Contribution to Share Capital | Should be enrolled as a nominal share holder by paying fees of Rs.5/-. |
| Processing charges | Nil |
| Other charges | |
| Required documents | Copy of the Aadhar Card / Ration Card / Voter’s Card, two passport size photographs, proof of income if any, Should present in the bank as a group. |
| Application Form | Download Application Form |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility |
| Primary Security | The National Savings Certificates or Kisan Vikas Pathra should be in the name of the proponent. |
| Collateral Security | No collateral security is required |
| Amount of Loan | The limit depends upon the purpose of the loan and the value of the security produced. |
| Margin | The margin depends on the age of the savings instrument. The table below indicates the amount of finance. |
| Rate of Interest | Click here |
| Tenure of Loan | The maximum tenure is the remaining period of maturity of the security. |
| Contribution to Share Capital | Should be enrolled as a nominal share holder by paying fees of Rs.5/-. |
| Processing charges | Nil |
| Other charges | Pledge Charges as per Indian Postal Act. |
| Required documents | NSCs or KVPs proposed for pledge duly marked as pledge by the issuer(concerned post office) given in favour of the Bank |
| Age of the Certificate | Maximum permissible limit |
|---|---|
| 1 year | 50% |
| 2 years | 60% |
| 3 years | 65% |
| 4 years | 75% |
| 5 years | 80% |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. |
| Primary Security | The goods/machinery/live stock/articles for which the bank has financed are the primary security. |
| Collateral Security | Group member’s joint and / or several guarantees. |
| Amount of Loan | Depends on the activity of the proponent subjected to a maximum limit of Rs.10,000/- per borrower. |
| Margin | Nil |
| Rate of Interest | Click here |
| Tenure of Loan | Maximum 52 weeks |
| Contribution to Share Capital | Should be enrolled as a nominal share holder by paying fees of Rs.5/-. |
| Processing charges | Nil |
| Other charges | |
| Required documents | Copy of the Aadhar Card / Ration Card / Voter’s Card, two passport size photographs, proof of income if any, Should present in the bank as a group. |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. |
| Primary Security |
For Loans below 2 lakhs-Hypothecation/ of stocks/Machinery/tools/book debts. For Loans 2 Lakhs & Above-Hypothecation/EM of stocks/Machinery/tools/book debts. |
| Collateral Security |
a)Loans up to Rs.2.00 lakh-No collateral security required -Third party guarantee who is having immovable property(optional) b)Above & Including RS.2.00 Lakh: EM of immovable property(buildings) or Third party guarantee who is having immovable property(buildings) |
| Amount of Loan | The limit depends on the past financial parameters of the applicant’s business and also depends on the value of the collateral security offered. |
| Margin | Working capital:25% Term Loans :30% |
| Rate of Interest | Click here |
| Tenure of Loan | Working Capital: On demand. Renewable at yearly intervals. Term Loans: Repayable within 36 months including moratorium period or any other period as decided by the Bank |
| Contribution to Share Capital and others | 2.5% of the loan amount of which 1% as share capital subject to a maximum of Rs.1.50 lakhs &1.5% as Term deposit. |
| Processing charges | For SBF Loans----No Processing charges For Overdrafts----0.6% of the sanction loan amount |
| Other charges |
0.5% of the loan amount should be paid as equitable mortgage charges, payable under stamp act. For loan accounts with total sanctioned limits of Rs.1.00 lacs and above, an additional amount of Rs.1000/- shall have to be paid for recording the charge with the Registrar of Assurances. 2% of the share capital amount has to be contributed for the Members Welfare Fund and Rs.25/- towards admission fees |
| Required documents |
Original Title deeds, link documents for thirty years (Earlier documents to the title deeds to establish the transfer of rights)& Latest Rent receipts in original pertaining to House property offered as collateral security, KYC documents of the Applicant along with surety/guarantor , PAN card if available, Photographs of self and joint holders of the property, Municipal plan if any, Income tax returns for the last three years in case of an assessee, income proof(salary certificate), three years balance sheet and profit and loss account in case of business units, quotation for the machinery, in case of purchase of machinery etc.. No insurance of assets(Stock/Book debts) required for loans upto 1 lakh where as adequate insurance cover required for the stocks hypothecated in respect of 1 lakh above loans. |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. |
| Primary Security | Gold deposited by the proponent for pledge, should be only in the form of ornaments. Other forms of gold like Gold Bars, gold biscuits, gold coins shall not be accepted by the Bank. Name of the persons if inscribed on the gold ornaments, should be the applicants of loan against pledge of such ornaments or a no objection letter is to be submitted from the concerned person along with his proof of identity. |
| Collateral Security | No collateral security is required. |
| Amount of Loan | Amount of loan depends on the quantity and quality of gold subjected to a maximum of total limit of Rs 10.00 lacs per individual. |
| Margin | The margin varies as per the guidelines of RBI from time to time and the current margin is 25% of the appraised value of the gold. |
| Rate of Interest | Click here |
| Tenure of Loan | 12 months & renewable on review |
| Contribution to Share Capital | Should be an ’A’ class share holder of the Bank |
| Processing charges | Nil |
| Other charges | 0.01% of value of gold towards insurance of the pledged ornaments. |
| Required documents | Two photographs & KYC documents if the Applicant is not the savings account holder of the Bank& ornaments proposed for pledge. |
| Eligibility | The proponent should be the depositor of the Bank |
| Primary Security | Pledge of the duly discharged term deposit receipt by all the joint holders of the deposit. |
| Collateral Security | Nil |
| Amount of Loan | 85% of the face value of the deposit or 75% of principal+ to the date of sanction of loan, whichever is higher. There is no maximum limit. |
| Margin | 15% value of deposit |
| Rate of Interest | 2% over the interest payable on deposit |
| Tenure of Loan | Remaining period of maturity of deposit |
| Contribution to Share Capital | Nil |
| Processing charges | Nil |
| Other charges | Nil |
| Required documents | Duly discharged deposit certificate and stamped with Rs.100/- deed of continuing guarantee form duly signed by the depositor & KYC documents of depositor if not submitted earlier while making deposit |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. |
| Primary Security | The applicant should be a major, having a fixed asset in the form of a house which has a market value. The property should have been obtained by purchase / valid gift. There should be no encumbrances over the property. The title of the property should be clear and marketable as per the opinion of the Bank. The applicant should be in a position to submit other relevant documents in connection with the property, link documents, encumbrance certificate, rent receipts, etc., The surplus income of the proponent supported by documentary evidence, should be sufficient to repay the equated monthly installments. The Bank should satisfy with the calculation of surplus income and has sole discretion to decide the surplus. |
| Collateral Security | Third party guarantee, if thought necessary by the bank is to be furnished. The bank should satisfy with the credentials of the guarantor. |
| Amount of Loan | Amount of loan depends on the cost of the project and the value of property proposed for mortgage. |
| Margin | Finance up to a maximum of 60% of the market value of the property as estimated by the bank. |
| Rate of Interest | Click Here |
| Tenure of Loan | The tenure is from 12 months to 120 months, depending upon the income of the proponent and cost of the project. |
| Contribution to Share Capital and others | 2.5% of the loan amount of which 1% as share capital subject to a maximum of Rs.1.50 lakhs &1.5% as Term deposit |
| Processing charges | 0.6% of the loan amount |
| Other charges |
Charges as applicable under stamp act and as prescribed by government of Andhra Pradesh from time to time for noting the mortgage. 2% of the share capital amount has to be contributed towards the Members Welfare Fund and Rs.25/- towards admission fees. |
| Required documents | Original Title deeds, link documents for thirty years (Earlier documents to the title deeds to establish the transfer of rights), Latest Rent receipts in original, KYC DOCUMENTS OF Applicant along with sureties/guarantors , PAN card if available, Photographs of self and joint holders of the property, Municipal plan if any, Income tax returns for the last three years in case of an assessee, income proof (salary certificate latest), three years balance sheet and profit and loss account in case of business units, project report in case of new project, quotation for the machinery in case of purchase of machinery or vehicle. |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. |
| Primary Security | Gold deposited by the proponent for pledge, should be only in the form of ornaments. Other forms of gold like Gold Bars, gold biscuits, gold coins shall not be accepted by the Bank. Name of the persons if inscribed on the gold ornaments, should be that of the applicants or a no objection letter is to be submitted from the concerned person along with his proof of identity. |
| Collateral Security | No collateral security is required. |
| Amount of Loan | Amount of loan depends on the quantity and quality of gold subjected to a maximum of total limit of Rs20.00 lacs per individual. |
| Margin | The margin varies as per the guidelines of RBI from time to time and the current margin is 25% of the appraised value of the gold. |
| Rate of Interest | Click Here |
| Tenure of Loan | 3 months /6 months / 12 months |
| Contribution to Share Capital | Gold loan borrowers are not required to maintain any share capital with the bank |
| Processing charges | Nil |
| Other charges | 0.1% of value of gold towards insurance of the pledged ornaments. |
| Required documents | Two photographs & KYC documents if the Applicant is not the savings account holder of the Bank& ornaments proposed for pledge. |
| Application Form | Download Application Form |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. |
| Primary Security | Loans against hypothecation of goods shall be considered only when the facility is collaterally secured by mortgage of property in the form of a house, irrespective of the amount sought. The value of the property mentioned, as per the Bank valuation should be at least two times of the amount of the proposed loan. |
| Collateral Security | Collateral security in the form of mortgage of property, pledge of gold/NSC/KVP of self or guarantor to the satisfaction of the bank. |
| Amount of Loan | The limit depends on the past financial parameters of the applicant and also depends on the value of the collateral security offered. |
| Margin | Minimum 25% margin and the margin depends on the type of commodity offered for hypothecation. |
| Rate of Interest | Click here to see |
| Tenure of Loan | The maximum period of loan is 60 months. The bank may consider longer tenure in case the business or the project require, as opined by the bank. |
| Contribution to Share Capital and others | 2.5% of the loan amount of which 1% as share capital subject to a maximum of Rs.1.50 lakhs &1.5% as Term deposit |
| Processing charges | 0.6% of the sanction loan amount |
| Other charges |
0.5% of the loan amount should be paid as equitable mortgage charges, payable under stamp act. For loan accounts with total sanctioned limits of Rs.1.00 lacs and above, an additional amount of Rs.1000/- shall have to be paid for recording the charge with the Registrar of Assurances. 2% of the share capital amount has to be contributed for the Members Welfare Fund and Rs.25/- towards admission fees |
| Required documents | Original Title deeds, link documents for thirty years (Earlier documents to the title deeds to establish the transfer of rights)& Latest Rent receipts in original pertaining to House property offered as collateral security, KYC documents of the Applicant along with surety/guarantor , PAN card if available, Photographs of self and joint holders of the property, Municipal plan if any, Income tax returns for the last three years in case of an assessee, income proof(salary certificate), three years balance sheet and profit and loss account in case of business units quotation for the machinery/vehicle, in case of purchase of machinery or vehicle. |
| Application Form | Download Application Form |
| Eligibility | The proponent should be the depositor of the Bank. |
| Primary Security | Pledge of the duly discharged term deposit receipt by all the joint holders of the deposit. |
| Collateral Security | No collateral security is required |
| Amount of Loan | 85% of the face value of the deposit or 75% of principal + interest to the date of sanction of loan, whichever is higher. There is no maximum limit. |
| Margin | 15% of the deposit value |
| Rate of Interest | Loan against Bank Term Deposits: 1.5% over the interest payable on term deposit |
| Tenure of Loan | Remaining period of maturity of deposit. |
| Contribution to Share Capital | Nil |
| Processing charges | Nil |
| Other charges | Nil |
| Required documents | Duly discharged deposit certificate & KYC documents of depositor if not submitted earlier while making deposit |
| Application Form | Download Application Form |
| Eligibility | The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. |
| Primary Security | The required security varies from case to case and as such the proponent has to call on the nearest branch to file his application. |
| Collateral Security | Third party guarantee of Government employee or any person with credentials to the satisfaction of the bank. |
| Amount of Loan | The limit depends on the salary of the employee or income of the proponent, subject to a maximum of Rs.1.00 lac. |
| Margin | Margin 25% |
| Rate of Interest | Click here to see |
| Tenure of Loan | Maximum 36 months. |
| Contribution to Share Capital | 5% of the amount sanctioned. |
| Processing charges | Nill |
| Other charges | 2% on the share capital amount has to be contributed for the Members Welfare Fund and Rs.25/- towards admission fees. |
| Required documents | Salary certificate, KYC documents of Applicant and surety holder/guarantor , undertaking from the employer to deduct the equated monthly installment and directly remit the same to the bank, assets and liabilities statement of self and guarantor, salary certificate of guarantor, one year bank statement of Applicant |
| Application Form | Download Application Form |
