The Visakhapatnam Co-operative Bank Ltd

1. COVID Staff Loans

ln order to help staff members to obviate various difficulties arising out of COVID-19 Pandemic and subsequent Lockdown, Bank has initiated special loan scheme for staff members. The details are as follows.

Name of the Scheme	COVID 19-Staff Loans
Eligibility	All staff members
Amount of loan	Officers -Rs 50,000.00 Clerks :Rs.25,000.00 Trainess and Rs :10,000.00 Consolidated employees :Rs 10,000
Repayment Shedule	24 EMI-salary recovery
purpose	Any Genuine purpose
Rate of Interest	8.00% Monthly Compound
Other Conditions	1) Take home pay should be minimum 40% of gross pay after deducting all the loan instalments including the one for the proposed loan 2) Salary deduction should be effected.. 3) Branch Manager should certify the latest salary slip and enclose to the application form and submit to ZMs
Sanctioning Authority	1) Zonal Manager for all staff working in Branches 2)Central Officer for Zonal Managers and for staff working in Central office 3) Zonal Managers should report their sanctions to HR department, HO, on daily basis , in excel sheet indicating name of the employee, code no, Branch, Gross salary, Net Salary, amount of loan sanctioned, EMI

2. COVID-Top up Loans

Name of the Scheme	Tou up Loan
Eligibility	All existing borrowers whose loans are having NIL overdues as at the end of previous month
Purpose of loan	Any genuine purpose. However documentary proof of end use, like quotation/estimate/declaration etc to be obtained
Amount	Need Based
Security	Immovabel property of value/surplus value of existing secutities at least double the loan amount
Assessment	Basing the amount of investment and repayment capacity, duly discounting the EMIs of existing loans
Repayment Schedule	Need Based. Maximum 10 Years EMI should not be more then 50% of the total EMIs already fixed for the existing loans
Rate of Interest	10.00%
Other conditions	1) Disubrsements should be made in such a way to ensure the end use, 2) Amount should not used for payment of existing loans with our bank
Processing	Branches should process the loans duly obtaining ML application and appraisal should be made as per the process note format already communicated to the branches. Zonal manager should also furnish his recommendations. Delegated sactioning powers should be decided as per the total limits enjoyed by the borrower, including the proposed loan

3. COVID-Auto Loans

ln orderto extend assistance to various segments of the society, especially in the crucial period Of COVID Pandemic and subsequent Lock Down, Bank has introduced scheme.The details are as follows.

Name of the Scheme	COVID l9 Assistance Loan-Auto Loan
Purpose	For purchase of Auto/TAXI
Amount of Loan	75% of the cost fo the vehicle to be purchased
Eligibility	1) The applicant should be residing in the vicinity of the branch for a minimum period of 5 years. 2) Age should not be morethan 50 3) He should possess professional driving license 4) He should have aadhar card
Primary Security	Hypothecation of Vehicle-C book endorsement and duplicate keys
Security/Surity	1) Security of mortgage of the property of double the value of the loan or 2) Surety of an employee of Govt/Semi Govt/Reputed organizagion with a monthly net salary equal to or more than EMI 3) Surety should have un expired service beyond two years of due date
Amount of Loan	Maximum Rs.5.00 lakhs
Repayment	36 EMIs with suitable holiday
Interest Rate	Secured Loan : 8.00% Unsecured Loan :9.00%
Processing Charges	Nil
Insurance	Insurance of vehicle mandatory WITH BANKS CLAUSE
Income Assessment	Economics should be worked out.Monthly income and expenditure to be assessed and surplus to be ascertained.Basing on the surplus amount, EMI and loan should be fixed.

4. COVID-Clearance of Debts

ln orderto extend assistance to various segments of the society, especially in the crucial period Of COVID Pandemic and subsequent Lock Down, Bank has introduced scheme.The details are as follows.

Name of the Scheme	COVID l9 Assistance Loan-Clearance of debts
Eligibility	1) All indlviduals who borrowed from informai sources due to COVID 19 pandemic and subsequent lock down. 2) Should be permanent resident in the vicinity of the branch for minimum 5 years 3) Individuals, employees, small traders, small business men, professionals, etc 4) Should have Aadhar
Amount of Loan	Need Based with a maximum of Rs.2.00 lakhs
Security/Surety	Mortgage of immovable property of double the value (or) surety of an employee working in Govt/Semi Govt/Reputed organizagions with net salary of more than EMI of the loan
Repayment Shedule	36 EMI with suitable gestation
Rate of interest	If Secured :8% Unsecured : 9%
Other conditions	1) Declaration for the borrowing 2) ID Proof and Address proof 3)Spouse should also be Coobligant 4)Funds should not be used for repayment of existing loans with our Bank 5)Source of income shoulb be ascertained and documented
Sanctioning Powers	Central office

5. Covid-Business Loans

ln orderto extend assistance to various segments of the society, especially in the crucial period Of COVID Pandemic and subsequent Lock Down, Bank has introduced scheme.The details are as follows.

Name of the Scheme	covid l9 Assistance-Business
Purpose	For starting or continuing any Business/Industry/Service
Amount of Loan	75% ofthe cost of the investmented
Eligibility	1) The applicant should be residing in the vicinity of the branch for a minimum period of 5 years 2) The shop should be in the vicinityof the branch 3) Age should not be more than 60 4) He should posses trade licence 5) He should have aadhar card and PAN CAED
Primary Security	Hypothecation of shop and stocks
Security/Surety	1) security of mortgage of the property of double the value of the loan or 2) Surety of an employee of government/ semi government/ reputed organisation with a monthly net salary equal to or morethan EMI 3) surety should have un expired service beyond two years of due date
Amount of Loan	Maximum Rs.3.00 akhs
Repayment	16 EMls with suitable holiday
Interest rate	1) Secured Loan : 8.00% 2) Unsecured Loan : 9.00%
Assessment of Income	Economics should be worked out. Monthly income and expenditure to be assessed and surplus to be ascertained. Basing on the surplus amount, EMI and loan amount should be fixed.

6. VCBL Rent Plus

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	10.50%
Processing charges	0.60%
Take over charges	2.00%
Other Conditions	ECS/ Post dated cheques Tripartite Agreement from tenants

7. DAILY COLLECTION LOAN ACCOUNT

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

8. PROFESSIONAL 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. 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.

9. VCB HOUSING 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. 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.

10. HUDHUD CYCLONE RELIEF LOANS

Bank has winded up 'HUDHUD' loan schemes with effect from 01/04/2015

The massive hurricane, HUDHUD on 12-10-2014 had distorted the life in the coastal districts in general and Visakhapatnam in particular. It can be said that it was a never before destruction faced by Vizagites. The effect of the HUDHUD cannot be seen with naked eye as it had its impact on most of the households, small scale industries and almost on all walks of the life disrupting the peaceful living in the city. It may take many years to arrive at the position we enjoyed.

In discharging of its’ social responsibility towards the society and with an aim to assist the needy, The Visakhapatnam Co-operative Bank has announced various new loan schemes under the “Cyclone relief loans” with slashed interest rates and eased disbursement procedure to the public of Visakhapatnam, Vizianagaram, Srikakulam and East Godavari as a relief measure of ‘HUDHUD’ cyclonic storm which was initially taken up till the end of December 2014. However, considering the prevailing situations in the coastal districts, the scheme was extended up to 31/3/2015.

The slashed rates will have its impact on the business & profitability of the Bank. But, when considered the pathetic situation of the public assisted the Bank in its growth & prosperity, it is thought that the bank should standby them leaving the hardship in the financials.

The different products which are being extended are:-

1. HUDHUD Rescue – Small Loans - 2014

A loan of Rs. 5000/- is proposed to be sanctioned to the applicant on the surety of the applicant’s spouse or children duly following KYC norms for principal borrower as well as surety. Necessary documents in support of income proof are to be submitted.
Rate of Interest is 10% and period of loan is 15 months.
A nominal membership fee of Rs 5/- is to be remitted towards share capital by the borrower as well as surety
Loan may be sanctioned to any individual who has been directly or indirectly affected by the cyclone.

2. Member Cyclone Relief Loan – 2014

To facilitate immediate relief to our members the following scheme has been designed.

The amount of Loan may be disbursed basing on the share capital held by the member. The amount of loan that may be sanctioned under this scheme shall be a minimum of Rs. 5000/- and a maximum of twice the amount of share capital held by him / her i.e. up to Rs. 200000/-.
Apart from personal guarantee of the borrower surety of the applicant’s spouse or children should be given duly following KYC norms (no need to submit a fresh KYC if they are already with the bank) for principal borrower as well as surety.
Rate of interest upto Rs. 5000/- 10% 5001/- to 25000/- 11% 25001/- to 200000/- 12%
The period of repayment of loan may be fixed duly considering the repaying capacity of the borrower starting from 15 months to a maximum period of 36 months.

3. HUDHUD Cyclone Relief Assistance Mortgage Loans – 2014

The loans may be granted to all the existing mortgage loan holders. Loans cannot be granted to borrowers whose accounts are classified as NPA as at 30th September, 2014. Loans cannot be granted for clearance of existing loans or to adjust overdue.

i) Loans up to Rs. 2 Lakhs

Applicable rate of interest is- 11%.
The period of repayment of loan may be fixed duly considering the repaying capacity of the borrower for a maximum period of 60 months.
Caution Deposit / Building Fund / Refundable Deposit

ii) Loans from Rs. 200001/- to Rs. 500000/-

The amount of loan up to Rs. 500000/- Rate of interest @ 12%.
The period of repayment of loan may be fixed duly considering the repaying capacity of the borrower for a maximum period of 72 months.

iii) Loans from Rs. 500001/- to Rs. 10 Lakhs.

The amount of loan up to Rs 10 Lakhs. Rate of Interest @ 13%.
The period of repayment of loan may be fixed duly considering the repaying capacity of the borrower for a maximum period of 84 months.

iv) Loans of Rs. 10 Lakhs and above

The applicable Rate of interest - 13%.
The period of repayment of loan may be fixed duly considering the repaying capacity of the borrower for a maximum period of 120 months.

4. HUDHUD Business Relief Loans – 2014

Loans up to Rs. 5000/-	10% for a period of 15 months
Loans up to Rs. 5001/- to 25000/-	11% for a period of 24 months
Loans up to Rs. 25001/- to 100000/-	12% for a period of 30 months
Loans up to Rs. 100001/- to 200000/-	12.5% for a period of 36 months

Loan may be sanctioned to the business people for repair of shops, hoarding, electrical repairs, genset repairs and for working capital requirement also (the list is illustrative but not exhaustive) on the security of stocks and small capital investments etc.

5. Cyclone Relief Gold Loans – 2014

Loans up to Rs. 50000/-	11%
Loans up to Rs. 50001/-	12%

11. EDUCATIONAL LOANS

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.

12. WEAKER SAHAKARA SAMITI 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	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

13. SHARES AND SECURITIES

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%

14. SELF HELP GROUP 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	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.

15. SMALL BUSINESS FINANCE LOAN(CASH CREDIT/OD/TERM LOAN)

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.

16. OVER DRAFT ON GOLD 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.

17. OVER DRAFT ON DEPOSITS

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

18. MORTGAGE LOAN

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.

19. GOLD 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 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 Rs10.00 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	0.01% 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.
Application Form	Download Application Form

20. HYPOTHICATION LOAN

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.
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21. DEPOSIT LOANS

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: 2% 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
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22. CONSUMPTION 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	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