Loans

• Short Term Agriculture Loans (Crop Loans)

  Beneficiary	Farmers
  Purpose	Production of Crops
  Loan Limit	As per land holding and scale of finance.
  Rate of Interest*	5.00%
  Margin	No margin money required.
  Repayment Period	Half yearly linked with harvesting.
  Collateral Security	Nil.

• Medium Term Agriculture Loans

  Beneficiary	Farmers
  Purpose	Investment credit for installation of pump set, purchase of Agriculture implements, land reclamation, construction of bunds, polutry, piggery, purchase of mich cattle, gobar gas plant.
  Rate of Interest*	12.25%
  Margin	As per scheme.
  Repayment Period	Five Years
  Collateral Security	As per scheme.

• Revolving Crash Credit to Farmers (RCC)

  Beneficiary	Any individual farmer holding the agricultural land.
  Purpose	Credit facility for meeting out socio-economic needs.
  Loan Limit	Maximum amountt Rs 15.00 lakhs subject to Rs. 1.50 per acre.
  Rate of Interest*	12.00%
  Margin	No margin required.
  Repayment Period	Renewable on annual basis.
  Collateral Security	Agriculture Land valuing at 150% of the Loan amount.

• Mini Diary Scheme

  Beneficiary	Any individual & members of Milk producer socities.
  Purpose	Purchase of upto 10 milch cattle.
  Loan Limit	Maximum amountt Rs 5.00 lakhs, Rs. 0.50 lakh per animal.
  Rate of Interest*	11.50%
  Margin	15.00%
  Repayment Period	Maximum 5 years.
  Collateral Security	Mortgage of landed property value of 150% of the loan amount.

• Commercial Diary Development Scheme

  Beneficiary	Any individual, Partnership Firm, Corporate body and anny other Cooperative organization.
  Purpose	To increase the income of milk producers by helping them to purchase High yielding cattle and purchase of equipments and construction of sheds.
  Loan Limit	Maximum amount Rs 50.00 lakhs.
  Rate of Interest*	10.25%
  Margin	15.00%
  Repayment Period	Maximum 9 years.
  Collateral Security	Mortgage of landed property value of 150% of the loan amount.

• Non Farm Sector Loan Scheme (NFS)

  Beneficiary	Individual, Sole Prop., Firm, Coop. Societies or a company.
  Purpose	For the establishment of sottage, tiny and SSI unit.
  Loan Limit	Maximum amount upto Rs. 25.00 lakhs at CCB Level.
  Rate of Interest*	13.00%
  Margin	Minimum 10.00%
  Repayment Period	Maximum 5 to 7 years.
  Collateral Security	Immovable Properties for the value of 150% of the amount.

• Rural Housing Scheme

  Beneficiary	Individual and Members of Coop. Housing Societies.
  Purpose	Purchase of built up house, construction of new house, repairs/Renovation and addition of existing house in rural house.
  Loan Limit	Maximum amount upto Rs 15.00 lakhs.
  Rate of Interest*	10.25%
  Margin	15.00%
  Repayment Period	Maximum 15 years.
  Collateral Security	Agriculture Land for the value of the 100% of the loan amount besides the Mortgage of house to be financed by the bank.

• Urban Housing Scheme

  Beneficiary	Individual and Members of Coop. Housing Societies.
  Purpose	Purchase of built up house or flat, construction of new house, repairs/Renovation and addition of existing house in urban house.
  Loan Limit	Maximum amount upto Rs 20.00 lakhs.
  Rate of Interest*	10.25%
  Margin	25.00%
  Repayment Period	Maximum 15 years.
  Collateral Security	First Mortgage of house to be financed by the bank.

• Personal Loan Scheme

  Beneficiary	Employees of Punjab Govt., PSU, Boards, Corporations, etc.
  Purpose	Credit facility for meeting out socio-economic needs.
  Loan Limit	15 times of gross monthly salary or Rs. 4.00 lakhs whichever is less.
  Rate of Interest*	15.00%
  Repayment Period	Maximum 7 years.
  Collateral Security	Two Good Sureties as per satisfaction of the bank.

• Vehicle Loan Scheme

  Beneficiary	Individual, Firm, HUF, Trust, Coop. Societies or a Company.
  Purpose	For the purchase of new vehicle for business and personal use.
  Loan Limit	Maximum amount upto Rs. 15.00 lakhs or 80% of cost of vehicle.
  Rate of Interest*	10.50%
  Repayment Period	Maximum 5 years.
  Collateral Security	Two Good Sureties as per satisfaction of the bank besides the Hypothecation of the vehicle.

• Second Hand Vehicle Loan Scheme

  Beneficiary	Individual, Sole Prop., Professional and Partnership Firm.
  Purpose	For the purchase of second hand vehicle should not be more than 4 years
  Loan Limit	Maximum amount upto Rs 5.00 lakhs or 75% of cost of vehicle.
  Rate of Interest*	12.50%
  Repayment Period	Maximum 5 years.
  Collateral Security	Two good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle.

• Consumer Durable Loan

  Beneficiary	Credit facility for meeting out socio economic needs.
  Purpose	To purchase consumer durables and meeting other socioeconomic need.
  Loan Limit	10 times of gross monthly salary of Rs. 2.00 Lakhs, which ever is less.
  Rate of Interest*	15.00%
  Repayment Period	Maximum 5 years or upto service retirement.
  Collateral Security	Two Good Sureties as per satisfaction of the bank.

• Two Wheeler Loan to Farmers

  Beneficiary	An agriculturist having land in his own name or his family member.
  Purpose	For the purchase of new two wheelers.
  Loan Limit	Maximum amount upto Rs. 0.50 Lakhs.
  Rate of Interest*	11.50%
  Repayment Period	Maximum 5 years.
  Collateral Security	Two Good Sureties as per satisfaction of the bank.

• Cash Credit Facility to Traders

  Beneficiary	Individual, Sole Prop., Firm, Coop. Socities or a Company.
  Purpose	For the meeting working capital requirement of business.
  Loan Limit	Rs. 25.00 Lakhs.
  Rate of Interest*	14.00%
  Repayment Period	Renewable on annual basis.
  Collateral Security	Immovable properties for the value of 150% of the loan amount.

• Educational Loan

  Beneficiary	Salaried employees of Coop. Banks, Punjab Govt./Chandigarh Administration and its Boards and Corporations.
  Purpose	To provide financial assistance to deserving and meritorious student for pursuing higher studies in India or Abroad.
  Loan Limit	Maximum amount upto Rs. 15.00 Lakhs.
  Rate of Interest*	11.00%
  Margin	No margin required.
  Repayment Period	The installment will start after completion of course. Maximum 5 years.
  Collateral Security	Mortgage of landed property value of 150% of the loan amount. For the loan upto Rs. 5.00 Lakhs, No immovable security is required, If the loanee is the employee of Punjab Govt. or Coop. Dept.

• Cooperative Education Loan Scheme Children of Poor Farmers, Dalits, BC etc.

  Beneficiary	Children of poor farmers, dalits, BC and other poor section
  Purpose	To provide financial assistance for deserving and meritorious students for pursuing higher studies in India or Abroad.
  Loan Limit	Maximum amount upto Rs. 10.00 Lakhs.
  Rate of Interest*	7.25%
  Margin	No margin required.
  Repayment Period	The installment will start after completion of course. Maximum 5 years.
  Collateral Security	Mortgage of landed property, value of 100% of the loan amount.

• Loan Against Property

  Beneficiary	Any individual.
  Purpose	To offer instant solutions relating to socio-economic needs and business needs such as children's higher education, Travel, daughter's marriage and medical emergencies etc.
  Loan Limit	Maximum amount upto Rs. 25.00 Lakhs.
  Rate of Interest*	15.00%
  Margin	No margin required.
  Repayment Period	Maximum 6 years.
  Collateral Security	First mortgage of the property against which the loan is granted 150% of the loan amount.

• Loan Against Rental Income Scheme

  Beneficiary	Owners of the property who have let out or proposed to be let out the same to reputed company.
  Purpose	For meeting business/personal needs.
  Loan Limit	Maximum to the extent of 75% of post TDS Rent Receivable for a period. Not exceeding 120 months or un expired period of lease.
  Rate of Interest*	12.00%
  Repayment Period	Maximum 10 years.
  Collateral Security	Mortgage of landed property value of 150% of the loan amount.

• Loan Scheme for Earnest Money

  Beneficiary	Any Individual.
  Purpose	To meet the financial requirement towards earnest money deposit to book residential plot/built house or flat by Govt. Approved agency.
  Loan Limit	As per the scheme of the agency.
  Rate of Interest*	As fixed by the bank.
  Margin	No margin money required.
  Repayment Period	On Receipt of refund from housing board.
  Collateral Security	No immovable Security is required. Only two post dated cheques are required.

• Mai Bhago Istri Shakti Scheme

  Beneficiary	Any women beneficiaries' member of the PACS.
  Purpose	To establish the micro or small business in rural areas.
  Loan Limit	Rs. 25,000 through PACS.
  Rate of Interest*	9%
  Margin	No margin required.
  Repayment Period	Maximum 5 Years
  Collateral Security	One good surety having landed property.

• Credit for setting up of Agricultural Service Center

  Beneficiary	Any Individual farmer holding the agriculture land.
  Purpose	To purchase the agriculture implements.
  Loan Limit	Maximum amount Rs 10.00 Lakhs.
  Rate of Interest*	12.00%
  Repayment Period	Maximum 5 years.
  Collateral Security	Collateral Security valuing 150% of the loan amount.

• Personal Loan Scheme for Professionals

  Beneficiary	Individuals practicing as professionals such as doctors, aadvocate, chartered engineers, chartered accountants, company secretary, architects, I.T. professionals, interior designer, academicians running coaching centers.
  Purpose	Credit facility for meeting out socio.economic needs.
  Loan Limit	15 times of monthly gross salary or Rs. 5.00 lakhs which ever is less.
  Rate of Interest*	15.00%
  Prepayment Option	Borrower can make the part pre payment of the loan. No penalty will be charged.
  Repayment Period	Maximum 7 years.
  Collateral Security	The valuation of the collateral security shall be 150% to the loan amount. In addition to that one guarantor known to the bank will be taken.

• Overdraft Facility to Salaried employees having Salary Account with Coop. Bank

  Beneficiary	The beneficiary will be a regular/permanent employee of Punjab Govt., Semi Govt., Autonomous Bodies, Boards and Corporations, Apex, District, Cooperative Institutions or any other organization with the approval of BOD, whose salary is being credited in the saving account of bank branch.
  Loan Limit	Maximum 1,50,000/-.
  Rate of Interest*	13%
  Repayment Period	Renewable each year.
  Collateral Security	Two Good Sureties as per satisfaction of the bank.

• Pigges of Loan Scheme

  Beneficiary	Individual entrepreneurs, farmers, producer companies, partnership firms, companies, partnership firms, corporations, NGOs, ShGs, JLGs and Cooperatives.
  Purpose	Setting up of pig rearing and breeding farms.
  Loan Limit	Maximum up to Rs. 10.00 Lakhs.
  Rate of Interest*	10.25%
  Margin	15.00%
  Repayment Period	Maximum 5-6 years including grace period of one year.
  Collateral Security	No collateral Security for loan of Rs. 1.00 lakh and above will be sanctioned on mortgage of landed property whose value should not be less than 150% of the loan amount.

• Goat Rearing Loan Scheme

  Beneficiary	Individual entrepreneurs, farmers, producer companies, partnership firms, companies, partnership firms, corporations, NGOs, ShGs, JLGs and Cooperatives.
  Purpose	Setting up of goat rearing farms.
  Loan Limit	Maximum up to Rs. 5.00 Lakhs.
  Rate of Interest*	10.25%
  Margin	15.00%
  Repayment Period	Maximum 7 years including grace period of 2 year.
  Collateral Security	No collateral Security for loan of Rs. 1.00 lakh and above will be sanctioned on mortgage of landed property whose value should not be less than 150% of the loan amount.

• Fishery Development Scheme

  Beneficiary	Individual entrepreneurs, farmers, producer companies, partnership firms, companies, partnership firms, corporations, NGOs, ShGs, JLGs and Cooperatives.
  Purpose	Setting up of fish ponds.
  Loan Limit	Maximum up to Rs. 10.00 Lakhs including 1.00 lakh w/c.
  Rate of Interest*	10.25%
  Margin	15.00%
  Repayment Period	Maximum 9 years including grace period of one year.
  Collateral Security	No collateral Security for loan of Rs. 1.00 lakh and above will be sanctioned on mortgage of landed property whose value should not be less than 150% of the loan amount.

• Bee Keeping Loan Scheme

  Beneficiary	Individual entrepreneurs, farmers, producer companies, partnership firms, companies, partnership firms, corporations, NGOs, ShGs, JLGs and Cooperatives.
  Purpose	Setting up of Bee keeping units.
  Loan Limit	Maximum up to Rs. 10.00 Lakhs including 1.00 lakh w/c.
  Rate of Interest*	10.25%
  Margin	15.00%
  Repayment Period	Maximum 7 years including grace period of six months.
  Collateral Security	No collateral Security for loan of Rs. 1.00 lakh and above will be sanctioned on mortgage of landed property whose value should not be less than 150% of the loan amount.

* Rates are subject to change from time to time.