Loan Schemes
More about us
Sahakara Vyapar
Interest Rate
16% p.a
This loan is designed to support proponents with fixed assets, such as a house or land, in meeting their business or industrial project needs.
The loan amount is determined based on the project cost and the value of the mortgaged property.
- Primary Security: The fixed asset (house/land) of the applicant serves as the primary security.
- Collateral Security: If required, 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 project cost and the value of the mortgaged property.
- Margin: Financing is available for up to 40% of the market value of the property, as estimated by the bank’s valuer.
- Rate of Interest: 16% per annum, calculated on the outstanding balance.
- 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 a major and own a fixed asset (house/land) with a market value.
- The property should be obtained via purchase or valid gift, free of encumbrances, and have a clear, marketable title as per the bank’s opinion.
- The applicant must provide relevant documents related to the property, such as link documents, encumbrance certificates, and rent receipts.
- The bank reserves the sole discretion to assess surplus income and determine eligibility.
- The proponent must be a depositor of the bank.
