All existing members as on 30.06.2024

Suitable repayment schedule may be fixed by Branch Manager,  subject to maximum 48 EMIs

Rate of Interest

9.5%

1.Coobligation of spouse to be taken (if available)
2.Another co obligation may also be taken with earning capacity
3.Co obligation may be waived for applicants who secure CIBIL Score of 750 and above.
4.If the applicant has sizable deposits with our Bank or if he is a long standing member with sizable share capital, Co-obligation can be waived by the Branch Manager under his discretion.
5.BM should analyze the proposal and decide whether  to waive co-obligation  using his discretion .

650 and above

15-07-2024

1.The student should have secured  admission  to  any professional/Management course  in  reputed  college or  in  Foreign  University/ Institution.

2.Loan  can  be  sanctioned in  the  name  of  Student/ Parent/  Guardian/  Grand Parent

3.The   applicant  can be existing  member or a prospective member Student should have secured admission / confirmation in to any professional course in reputed college or foreign university

Need Based finance to cover all types of expenses.

Amount Rs.10.00 lakhs to Rs.50.00 lakhs

Loans of less than Rs.10.00 lakhs cannot be sanctioned under the scheme

Security is to be obtained for  200%  of  the  Loan.  As Bank  proposes moratorium   during the study  period  Branch should  calculate likely loan liability at the end of moratorium and holiday period and obtain security  of  200%  on  such calculated amount.

Future income of the student should  be assigned to the Bank

Suitable co-obligation by parent/guardian/in-laws/other  relatives with income            proof.Co obligation can be  waived by  the  sanctioning authority in genuine cases

Maximum period for repayment of the loan is 60 EMIs with moratorium of the study period and holiday of 1 year after study period.

Dates for EMI should be fixed at the time of sanction itself and communicated to the applicant.

7 Payment of interest during moratorium and holiday period is to be decided on case to case basis

11.50%
In case the borrower under takes to pay interest during Moratorium and holiday period ,interest concession of 0.50% will be allowed.

In case of students who secured merit awards from our Bank, Bank will extend additional interest concession of 0.50%

10%

Up to Rs.10.00 lakhs-- Zonal Sub Committee

Above Rs.10.00 lakhs up to Rs.50.00Lkhas-Executive Committee.

15-07-2024

20% of  annual  turnover subject  to maximum of Rs.5.00 lakhs

10%

Loan can be sanctioned  for purchase of  equipment/  Renovation  of  shop/ acquiring of Current Assets

Statement  of stocks  and  Book  debts should  be  obtained every month/Quarter

Ownership  document / lease document  of  the  shop  is to  be obtained

Spot verification is to be done by the branch

Unit  should  be  inspected  by  branch every  month/quarter  and  proper record is to be created for the same

Pronote
Composite Agreement
Ownership/  lease  document  of  the shop

Zonal Sub Committee

15-07-2024

Parent/ Guardian should have income to repay the loan from next month of
sanction. DSCR should be minimum 1.25

10%

1 .Application form.
2.Income Proof/ Declarations

3.Demand documents from School/ Declaration about other expenses

1. Payment to school to the possible
extent.
2. Amount can be credited to applicant account for expenses.
3.Bills/ Receipts/ Declarations for utilization to be obtained

1.Pronote
2.Composite  Agreement

3.Bills/Vouchers/ Declarations

VCBL PROPERTEY PLUS  (TERM LOAN AND OD)

Purpose neutral credit facility

For Priority Sector - 9.00%

Non Priority Sector - 9.50%

Maximum 60 months for loans and yeraly renewal for OD.

1) For loans up to Rs.40 lakhs -Minimum 150% security by way of immovable properties

2) For OD (Working capital) Rupees up 10 lakhs- Minimum 150% security by way of immovable properties

3) For OD (Working capittal) Above Rs.10lakhs up to Rs.25 lakhs-100% Security by way of immovable properties plus Hypothecation of stock and Receivables with 30% margin

4) For ODs above Rs.25.00 lakhs : Minimum 150% security by way of immovable properties

Spouse and any of major children (any deviation can be permitted by sanctioning authority)

1) Loan/OD to sanctioned only based on the repayment capacity of the borrower

2) Loans up to Rs.10.00 lakhs income can be assessed by BM with documentary evidence

3) For Loans above Rs.10.00 lakhs , income tax returns to be obtained

4) All Securities to be insured.

5) Vacant sites should be avoided

6) These loans should not be allowed against D.form Pattas.

7) No third loan should be sanctioned under this scheme to the same borrower

8) Second loan can be sanctioned only after one year of availment of first loan, subject to satisfctory repayment of the first loan and subject to assessment of repayment capacity for both loans beyond doubt. Sanctioning authority should exercise caution while sanctioning such loans

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.

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.

Not exceeding 60 EMI

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

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.

0.60%

Legal Opinion and valuation (by Branch Manager) should be obtained.

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.

Sub Committee

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. 

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.

Not exceeding 36 EMI

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

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.

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.

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

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

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

8.50% for personal expenses

8.00% for business purpose

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.

Application cum appraisal report 

Demand promissory Note

Repayment Agreement

Declaration

Rs.1/- for pronote

Rs.100 for Agreement

Up to Rs.20.00 lakhs-Branch Appraiser should appraise

For Loans Above Rs.20.00 lakhs-Two appraisers should appraise the ornaments

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

2% of the share capital amount has to be contributed towards the Members Welfare Fund and Rs.25/- towards admission fees.

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

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.

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.

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.

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)

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

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.

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.

6 months / 12 months-0.1% of value of gold towards insurance of the pledged ornaments.

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