Loans
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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.
|
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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.
|
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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.
|
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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.
|
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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.
|
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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.
|
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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.
|
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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.
|
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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.
|
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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.
|
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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.
|
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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.
|
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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.