payday loans

1 . Deposit Loan

Loans sanctioned against fixed deposits.
Interest above 2% per annum of deposits.
85% of the deposit mount sanctioned as deposit loan.
Interest calculated on Daily balance method.
Simple procedure and very convenient

2 . Deposit over Draft

Over draft limit sanctioned on the security of Fixed Deposit Receipt.
85% of the Deposit amount sanctioned as over draft limit.
Free Cheque Books.
Simple interest.
Interest charged on daily balance.
Interest above 2% of the deposit.
Simple and easy procedure.
No hidden charges.

5 . General Gold loan

Loan amount up to 25 lakhs.
70% of the market value of gold ornaments sanctioned as gold loan.
Interest 11 % 
Daily diminishing interest
Gold loan availed on all working days.
Period 6 months.
Interest for Rs.100/- per month is .92 paise only.
No hidden charges like Insurance charge, appraisal charge, cost of form, service charge, locker charge etc.
Interest charged only from the day of  loan disbursement to the repayment date

6 . Agri Gold loan

Loan amount up to 25 lakhs.
70% of the market value of gold ornaments sanctioned as gold loan.
Interest 10 %  , Not need tax recept
Daily diminishing interest
Gold loan availed on all working days.
Period 3 months.
Interest for Rs.100/- per month is .83 paise only.
No hidden charges like Insurance charge, appraisal charge, cost of form, service charge, locker charge etc.
Interest charged only from the day of  loan disbursement to the repayment date

8 . Loan for Renovation of House

Repayment  period up to 15 years.
Loan amount Rs.3,00,000/- for repairs , Rs.10,00,000/- for extension.
Interest rate 12%
No floating rate.
Same interest rate for entire loan period.
Insurance coverage.
Loan disbursed in two instalments.
No fine/ penalty/service charge for advance closing.

11 .Cash Credit/Over Draft

Cash credit facility to Businessmen, traders, Contractors, Self  entrepreneurs etc.

Loan upto 25 lakhs.
Free cheque books.
Insurance coverage
Interest calculated on the basis of daily balance outstanding.
Rate of interest 13% only.
Cheque/DD and other negotiable instruments can be collected through the account at
low collection charge/service charge.
Overdraft limit sanctioned on the basis of the 50% of the landed security property.
No fine/ penalty/service charge for advance closing.

13 .Manglyasoothra  Loan

Loan for the citizen who are below the poverty line.
Loan sanctioned for  the meeting  the expenses in connection with marriage of girls of
poor family.
Rate of interest 4%.
Maximum loan amount Rs.25000/-
Repayment period 3 years.
Insurance coverage.
No fine/ penalty/service charge for advance closing.

14 .Manglyasoothra  Agriculture  Loan

Loan sanctioned for self employment of newly married couples.
Maximum loan amount Rs.25000/-
Rate of interest 4%
Repayment period one year
Loan amount should be utilized for producing agricultural products.
No fine/ penalty/service charge for advance closing.
Insurance coverage
No hidden charges

15 . PERSONAL LOANS

• Personal loan for salaries employees

Loan to the employees of the Government Departments, Semi Government, Co-operative and public limited organizations as approved by the Bank.
Maximum amount of loan  Rs.3 lakhs.
Maximum repayment period 60 months.
Interest rate 12.5% per annum
Interest  calculated on daily balance method.
Insurance Coverage.
No fine/ penalty/service charge for advance closing.
No hidden charges.

• Vehicle Loan for Employees

Loan to the employees of the Government Departments, Semi Government, Co-operative and public limited organizations as approved by the Bank.
Maximum amount of loan  Rs.5 lakhs or 80% of the value of the vehicle whichever is less.
Maximum repayment period 60 months.
Interest rate 12% and 12.5%
Interest  calculated on daily balance method.
Insurance Coverage.
No fine/ penalty/service charge for advance closing.
No hidden charges.

LOAN TO COOPERATIVE PENSIONERS:

Maximum amount – Rs.50,000/-
Rate of interest – 10%
Repayment period- 50 months.
Mutual  Surety of pensioners
No hidden charges.
Insurance coverage
No fine/penalty/service charge for advance closing.

Rate of interest on loans and Advances