Loans and Advances

The following loans are advanced by the Model Bank.

Vyapara Mithra Loan

Borrowers Small businessmen, Small Traders, Petty Vendors
Loan Amount Rs.25,000 –Rs.1,00,000
Payment of Loan 12 Mnths, 12 EMI’s
Rate of Interest 20% p.a
Security Hypothecation of stock in trade and surety from two persons of IT Assessments.

Personal Loan

Borrowers All salaried persons whose salary is credited at our bank branch or with ECS mandate
Loan Amount Rs.25,000 - Rs.50,000
Payment of Loan 36 EMI’s
Rate of Interest 18% p.a.
Security Clean Loan. 2 guarantors to be obtained preferably Govt. Employees

Vehicle Loan

Borrowers Salaried Person whose salary is credit at our bank branch or with ECS mandate or For business people who are Income tax assesses with previous 3 year I.T record
Loan Amount For 2wheelers 75% of show room price of Max 75,000/- & 4 wheelers 80% of On road price Max.8,00,000
Payment of Loan 36 EMI’s
Rate of Interest 15% p.a.
Security Hypothecation of vehicle to be furnished Insurance is to be arranged with Bank’s hypothecation Clause.

Jewel Loan

Borrowers All our existing customers / New customers properly introduced
Loan Amount Rs.15,00,000 Maximum
Payment of Loan Interest on Monthly Basis
Rate of Interest Rs. 2000/- per gram @ 12% P.A
Security Pledge of Gold ornaments duly appraised by the jewel appraiser regarding the purity of gold.

Overdraft Against Jewels

Borrowers All our existing customers / New customers properly introduced (only firms)
Loan Amount Rs.15,00,000
Payment of Loan Interest on Monthly basis
Rate of Interest Rs. 2000/- per gram @ 12 P.A
Security Pledge of Gold ornaments duly appraised by the jewel appraiser regarding the purity of Gold.

Mortgage Loan

Borrowers All our existing customers / New customers properly introduced. For both salaried and non-salaried
Loan Amount Rs.30,00,000
Payment of Loan 36 to 60 EMI’s
Rate of Interest 12% - 15% p.a.
Security Simple/ registered mortgage of property or Deposit of Title Deed of the property.

Overdraft Against House Property (SOD)

Borrowers All our existing customers / New customers properly introduced. (only for firms and institutions)
Loan Amount Rs.30,00,000 or 50% of the property value whichever is lower.
Payment of Loan To be brought into credit one in a year, servicing of interest on monthly basis.
Rate of Interest 18% p.a.
Security Simple/ registered mortgage of property.