Loan Schemes
More about us
Sahakara Udyog Saral Loan
Interest Rate
16% p.a
Loan schemes designed for employed customers to meet the diverse needs of salaried individuals.
These loans include personal loans, home loans, car loans, and education loans, often offered at competitive interest rates with flexible repayment options.
Eligibility is typically determined based on the customer’s monthly income, credit score, and employment stability.
Features such as minimal documentation, quick processing, and pre-approved loan offers are common. Some schemes also provide special benefits like lower interest rates or higher loan limits for employees working in government or reputed private organizations, ensuring convenient access to credit for various personal and professional purposes.
- Collateral Security: Third-party guarantees must be provided, and the bank must be satisfied with the guarantor’s credentials.
- Amount of Loan: The loan amount depends on the annual income of the applicant
- Tenure of Loan: The loan tenure ranges from 15 months to 35 months.
- Contribution to Share Capital and Others: The applicant must contribute minimum 5% of the loan amount as share capital.
- Processing Charges: INR 1250.00
- Other Charges: Charges as per the Stamp Act and as prescribed by the Government of Andhra Pradesh for noting the mortgage.
- Admission fees and documentation charges are additional.
- The proponent must be an Indian National, preferably residing in the area of operation of the branch where the facility is intended to be availed.
- The applicant must be employed in public sector or private sector.
- The application must be accompanied by a surety by another employee for public sector or private sector
- The applicant must provide 5 cheques duly signed by him as security
- The bank reserves the sole discretion to assess surplus income and determine eligibility.
- The proponent must be a depositor of the bank.
- The applicant must submit the ITR for last 2 years
