This scheme provides loan/overdraft facility against mortgage of property at low rate of interest. The scheme is for people engaged in trade, commerce & business and also professionals & self employed, Prop. Firm, partnership firm, companies, NRIs and individuals with high net worth including salaried people, agriculturists and staff members.

The product provides an opportunity to customers to borrow against a fixed asset (mortgage or property) at a short notice without much paperwork/attendant hassles.

The loan amount can be used for any purpose but shall not be used for purposes prohibited by law. The property should be in the name of Applicant or Co-applicant of a family member.

Details of loan

Max. limit            : 25 lakh

Eligibility             : A class or D class membership

Repayment         : up to 60 months

Rate of interest  : 9.75% to 12.25% per annum depends upon loan amount

Sureties             : Any two D class or A class members

Share amount   : 2% of sanctioned amount

Service charge   : 0.1% of sanctioned amount