Loans
St.Milagres Credit Souhardha Co-Op Society Ltd., Karwar
To Start a new business or to develop your existing business, we provide Business Loan with repayable at 36, 48 & 60 months. Up to 25 Lakhs.
Rate of Interest: 15% (Reducing Interest)
Documents required for Business Loan:-
Note: Loanee should be identified by the Branch Manager.
For construction of New House, Apartments, Buildings, Renovation of existing building, Purchase of Shops or to Invest in Real Estate purpose, we provide you easy instalment repayable at 60, 72, 84 & 120 months. Up to 50 Lakhs.
Rate of Interest for Housing Loan : 14.5% (Reducing Interest)
Rate of Interest for Mortgage Loan: 14% (Reducing Interest)
Documents required for Housing Loan & Mortgage Loan :-
Note: Loanee should be identified by the Branch Manager.
We provide Spot Loan facility to our customers for purchase of Bike, Scooter, Auto-Rickshaw, Car, Truck, JCB etc., with easy documentations.
Rate of Interest: 12.50% (Reducing Interest) For new Vehicle
Documents required for Vehicle Loan:-
Note: Loanee should be identified by the Branch Manager.
| 75% Loan On Road |
30 to 60 Easy Installments |
84 Installments for 4 Wheelers (7 Years) |
25% Down payment (on road prize of vehicle) |
For purchase of house appliance like T.V, Refrigerator, Furniture’s, Washing Machine etc., we provide easy monthly repayable loan facility.
Rate of Interest: 16% (Reducing Interest)
Documents required for House Appliances Loan:-
Note: Loanee should be identified by the Branch Manager.
This is a clean loan given to employees Private, Public and Government sectors in order to fulfil their commitments against security of two respectable sureties.
Rate of Interest: 15% (Reducing Interest)
Documents required for Personal Loan:-
Note: Loanee should be identified by the Branch Manager.
For pursuing higher education in India and abroad, we provide loan facility to the student for a courses of 5 Year (like MBA, MCA, LLB, MBBS, BE,..Etc.)
Rate of Interest: 16.5% (Reducing Interest)
Documents required for Educational Loan :-
Note: Loanee should be identified by the Branch Manager.
For solar water heater and lighting system, we provide loan facility with easy installments.
Rate of Interest: 17% (Reducing Interest)
Documents required for Solar Loan :-
Note: Loanee should be identified by the Branch Manager.
To ensure that all the arrangements are perfect for the wedding, we provide easy monthly repayable loan facility up to Rs-5 Lakhs.
Rate of Interest: 16% (Reducing Interest)
Documents required for Wedding Loan:-
Note: Loanee should be identified by the Branch Manager.
This loan is given against value of term deposit up to the extent of 80%.
Rate of Interest: F.D.R + 2% (Reducing Interest) (F.D.R = Fixed Deposit Rate of Interest)
Note: Loanee should be identified by the Branch Manager.
Get instant loan against gold with safe and secure loan processing on the spot. Loans advanced up to 80% of gold valuation.
Rate of Interest: 14% (Reducing Interest).
Note: Loanee should be identified by the Branch Manager.
Loan against the security of Pigmy Deposit are provided for better convenience to the customers due to their day-to-day transactions.
Rate of Interest: 10% (Reducing Interest)
Note: Loanee should be identified by the Branch Manager.
Loans provided for the business turn over
Rate of Interest: 16% (Reducing Interest)
Documents required for Over Draft Loan:-
Note: Loanee should be identified by the Branch Manager.
Our cooperative is at par as with any Nationalized Bank or big private Bank in providing quick and prompt service.
In order to maintain the same repute and service providing image it is must that new technologies and services must be adopted and put into practice. Apart from many newly introduced schemes the Management wanted to introduce the EMI scheme. Since long our Management and the senior staff members have been working out on this subject. Finally an output is come and following are the rates for the different types of loans through EMI.
| Type of loan | Advancing Limit | Rate of Interest | Period |
|---|---|---|---|
| 1 Housing loan | 3 lakhs and above | 14.5% | 5 to 15 years |
| 2 Mortgage Loan | 3 lakhs and above | 14% | 5 to 15 years |
| 3 Vehicle loan ( applicable only for four wheeler and heavy vehicles) | Quotation amount | 13.5% | 3 to 7 years |
| 4 Personal loan | Above 2 lakhs | 15% | 3 to 5 years |
Rules to be followed while advancing loans through EMI(Equated Monthly Installment):