Personal Loan

Purpose of the Loan:

 

• To meet expenses incurred on education, marriage, family celebrations, medical expenses, miscellaneous expenses etc. on individual / family / community.
  
   

Eligibility for Loan:

 

1. Regular employees of the Government of India / U.P.
2. Permanent Employees of Semi-Government/ Self Governing/ Institute/ Educational Institute (Approved by Government of India / U.P).
3. Applicant age should be between 21 years to 60 Years.
4. Loan facility will be provided to only persons, whose salary is credited in the concerned Branch of District Co-operative Bank Ltd. Pilibhit.
5. The applicant should not be defaulter of any bank or financial institution.
6. The applicant and guarantor should be the A/c holder and nominal member of our bank.
7. Credit Score of loan applicant should be 700 and more.

 

Maximum Amount of Loan:
 

• The maximum amount of the loan will be 24 months’ salary of applicant or 8.00 Lakh whichever is less.
   

Term of Loan:

 

• The maximum term of the loan will be 72 months (6 years).
• Recovery of loans will be in monthly installments starting by the following month of the month in which the loan is disbursed.

 

Interest Rate:

 

1. The loan will be charged at 11.50% rate of interest. The interest rate will be applied till the full payment period. Interest on the loan amount will be charged on a monthly basis and compounded.
2. If the amount of the monthly installments are not paid timely, the due installment payment will be charged at the rate of 2% as penal interest.

 

Processing Fee:

 

1. 2% of sanctioned loan.
2. Minimum Rs. 1000.00
3. Maximum Rs. 10000.00

 

 

** For more information please visit the nearest branch of District Co-operative Bank Ltd. Pilibhit.