Loans

Short Term Agriculture Loans (Crop Loans)

ParticularsDescription
BeneficiaryFarmers
PurposeProduction of Crops
Loan LimitAs per land holding and scale of finance.
Rate of Interest*5.00%
MarginNo margin money required.
Repayment PeriodHalf yearly linked with harvesting.
Collateral SecurityNil.

Medium Term Agriculture Loans

ParticularsDescription
BeneficiaryFarmers
PurposeInvestment 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%
MarginAs per scheme.
Repayment PeriodFive Years
Collateral SecurityAs per scheme.

Revolving Crash Credit to Farmers (RCC)

ParticularsDescription
BeneficiaryAny individual farmer holding the agricultural land.
PurposeCredit facility for meeting out socio-economic needs.
Loan LimitMaximum amountt Rs 15.00 lakhs subject to Rs. 1.50 per acre.
Rate of Interest*12.00%
MarginNo margin required.
Repayment PeriodRenewable on annual basis.
Collateral SecurityAgriculture Land valuing at 150% of the Loan amount.

Mini Diary Scheme

ParticularsDescription
BeneficiaryAny individual & members of Milk producer socities.
PurposePurchase of upto 10 milch cattle.
Loan LimitMaximum amountt Rs 5.00 lakhs, Rs. 0.50 lakh per animal.
Rate of Interest*11.50%
Margin15.00%
Repayment PeriodMaximum 5 years.
Collateral SecurityMortgage of landed property value of 150% of the loan amount.

Commercial Diary Development Scheme

ParticularsDescription
BeneficiaryAny individual, Partnership Firm, Corporate body and anny other Cooperative organization.
PurposeTo increase the income of milk producers by helping them to purchase High yielding cattle and purchase of equipments and construction of sheds.
Loan LimitMaximum amount Rs 50.00 lakhs.
Rate of Interest*10.25%
Margin15.00%
Repayment PeriodMaximum 9 years.
Collateral SecurityMortgage of landed property value of 150% of the loan amount.

Non Farm Sector Loan Scheme (NFS)

ParticularsDescription
BeneficiaryIndividual, Sole Prop., Firm, Coop. Societies or a company.
PurposeFor the establishment of sottage, tiny and SSI unit.
Loan LimitMaximum amount upto Rs. 25.00 lakhs at CCB Level.
Rate of Interest*13.00%
MarginMinimum 10.00%
Repayment PeriodMaximum 5 to 7 years.
Collateral SecurityImmovable Properties for the value of 150% of the amount.

Rural Housing Scheme

ParticularsDescription
BeneficiaryIndividual and Members of Coop. Housing Societies.
PurposePurchase of built up house, construction of new house, repairs/Renovation and addition of existing house in rural house.
Loan LimitMaximum amount upto Rs 15.00 lakhs.
Rate of Interest*10.25%
Margin15.00%
Repayment PeriodMaximum 15 years.
Collateral SecurityAgriculture 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

ParticularsDescription
BeneficiaryIndividual and Members of Coop. Housing Societies.
PurposePurchase of built up house or flat, construction of new house, repairs/Renovation and addition of existing house in urban house.
Loan LimitMaximum amount upto Rs 20.00 lakhs.
Rate of Interest*10.25%
Margin25.00%
Repayment PeriodMaximum 15 years.
Collateral SecurityFirst Mortgage of house to be financed by the bank.

Personal Loan Scheme

ParticularsDescription
BeneficiaryEmployees of Punjab Govt., PSU, Boards, Corporations, etc.
PurposeCredit facility for meeting out socio-economic needs.
Loan Limit15 times of gross monthly salary or Rs. 4.00 lakhs whichever is less.
Rate of Interest*15.00%
Repayment PeriodMaximum 7 years.
Collateral SecurityTwo Good Sureties as per satisfaction of the bank.

Vehicle Loan Scheme

ParticularsDescription
BeneficiaryIndividual, Firm, HUF, Trust, Coop. Societies or a Company.
PurposeFor the purchase of new vehicle for business and personal use.
Loan LimitMaximum amount upto Rs. 15.00 lakhs or 80% of cost of vehicle.
Rate of Interest*10.50%
Repayment PeriodMaximum 5 years.
Collateral SecurityTwo Good Sureties as per satisfaction of the bank besides the Hypothecation of the vehicle.

Second Hand Vehicle Loan Scheme

ParticularsDescription
BeneficiaryIndividual, Sole Prop., Professional and Partnership Firm.
PurposeFor the purchase of second hand vehicle should not be more than 4 years
Loan LimitMaximum amount upto Rs 5.00 lakhs or 75% of cost of vehicle.
Rate of Interest*12.50%
Repayment PeriodMaximum 5 years.
Collateral SecurityTwo good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle.

Consumer Durable Loan

ParticularsDescription
BeneficiaryCredit facility for meeting out socio economic needs.
PurposeTo purchase consumer durables and meeting other socioeconomic need.
Loan Limit10 times of gross monthly salary of Rs. 2.00 Lakhs, which ever is less.
Rate of Interest*15.00%
Repayment PeriodMaximum 5 years or upto service retirement.
Collateral SecurityTwo Good Sureties as per satisfaction of the bank.

Two Wheeler Loan to Farmers

ParticularsDescription
BeneficiaryAn agriculturist having land in his own name or his family member.
PurposeFor the purchase of new two wheelers.
Loan LimitMaximum amount upto Rs. 0.50 Lakhs.
Rate of Interest*11.50%
Repayment PeriodMaximum 5 years.
Collateral SecurityTwo Good Sureties as per satisfaction of the bank.

Cash Credit Facility to Traders

ParticularsDescription
BeneficiaryIndividual, Sole Prop., Firm, Coop. Socities or a Company.
PurposeFor the meeting working capital requirement of business.
Loan LimitRs. 25.00 Lakhs.
Rate of Interest*14.00%
Repayment PeriodRenewable on annual basis.
Collateral SecurityImmovable properties for the value of 150% of the loan amount.

Educational Loan

ParticularsDescription
BeneficiarySalaried employees of Coop. Banks, Punjab Govt./Chandigarh Administration and its Boards and Corporations.
PurposeTo provide financial assistance to deserving and meritorious student for pursuing higher studies in India or Abroad.
Loan LimitMaximum amount upto Rs. 15.00 Lakhs.
Rate of Interest*11.00%
MarginNo margin required.
RepaymentThe installment will start after completion of course.
PeriodMaximum 5 years.
Collateral SecurityMortgage 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.

ParticularsDescription
BeneficiaryChildren of poor farmers, dalits, BC and other poor section
PurposeTo provide financial assistance for deserving and meritorious students for pursuing higher studies in India or Abroad.
Loan LimitMaximum amount upto Rs. 10.00 Lakhs.
Rate of Interest*7.25%
MarginNo margin required.
RepaymentThe installment will start after completion of course.
PeriodMaximum 5 years.
Collateral SecurityMortgage of landed property, value of 100% of the loan amount.

Loan Against Property

ParticularsDescription
BeneficiaryAny individual.
PurposeTo 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 LimitMaximum amount upto Rs. 25.00 Lakhs.
Rate of Interest*15.00%
MarginNo margin required.
Repayment PeriodMaximum 6 years.
Collateral SecurityFirst mortgage of the property against which the loan is granted 150% of the loan amount.

Loan Against Rental Income Scheme

ParticularsDescription
BeneficiaryOwners of the property who have let out or proposed to be let out the same to reputed company.
PurposeFor meeting business/personal needs.
Loan LimitMaximum 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 PeriodMaximum 10 years.
Collateral SecurityMortgage of landed property value of 150% of the loan amount.

Loan Scheme for Earnest Money

ParticularsDescription
BeneficiaryAny Individual.
PurposeTo meet the financial requirement towards earnest money deposit to book residential plot/built house or flat by Govt. Approved agency.
Loan LimitAs per the scheme of the agency.
Rate of Interest*As fixed by the bank.
MarginNo margin money required.
Repayment PeriodOn Receipt of refund from housing board.
Collateral SecurityNo immovable Security is required. Only two post dated cheques are required.

Mai Bhago Istri Shakti Scheme

ParticularsDescription
BeneficiaryAny women beneficiaries' member of the PACS.
PurposeTo establish the micro or small business in rural areas.
Loan LimitRs. 25,000 through PACS.
Rate of Interest*9%
MarginNo margin required.
Repayment Period Maximum 5 Years
Collateral SecurityOne good surety having landed property.

Credit for setting up of Agricultural Service Center

ParticularsDescription
BeneficiaryAny Individual farmer holding the agriculture land.
PurposeTo purchase the agriculture implements.
Loan LimitMaximum amount Rs 10.00 Lakhs.
Rate of Interest*12.00%
Repayment PeriodMaximum 5 years.
Collateral SecurityCollateral Security valuing 150% of the loan amount.

Personal Loan Scheme for Professionals

ParticularsDescription
BeneficiaryIndividuals practicing as professionals such as doctors, aadvocate, chartered engineers, chartered accountants, company secretary, architects, I.T. professionals, interior designer, academicians running coaching centers.
PurposeCredit facility for meeting out socio.economic needs.
Loan Limit15 times of monthly gross salary or Rs. 5.00 lakhs which ever is less.
Rate of Interest*15.00%
Prepayment OptionBorrower can make the part pre payment of the loan. No penalty will be charged.
Repayment PeriodMaximum 7 years.
Collateral SecurityThe 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

ParticularsDescription
BeneficiaryThe 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 LimitMaximum 1,50,000/-.
Rate of Interest*13%
Repayment PeriodRenewable each year.
Collateral SecurityTwo Good Sureties as per satisfaction of the bank.

Pigges of Loan Scheme

ParticularsDescription
BeneficiaryIndividual entrepreneurs, farmers, producer companies, partnership firms, companies, partnership firms, corporations, NGOs, ShGs, JLGs and Cooperatives.
PurposeSetting up of pig rearing and breeding farms.
Loan LimitMaximum up to Rs. 10.00 Lakhs.
Rate of Interest*10.25%
Margin15.00%
Repayment PeriodMaximum 5-6 years including grace period of one year.
Collateral SecurityNo 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

ParticularsDescription
BeneficiaryIndividual entrepreneurs, farmers, producer companies, partnership firms, companies, partnership firms, corporations, NGOs, ShGs, JLGs and Cooperatives.
PurposeSetting up of goat rearing farms.
Loan LimitMaximum up to Rs. 5.00 Lakhs.
Rate of Interest*10.25%
Margin15.00%
Repayment PeriodMaximum 7 years including grace period of 2 year.
Collateral SecurityNo 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

ParticularsDescription
BeneficiaryIndividual entrepreneurs, farmers, producer companies, partnership firms, companies, partnership firms, corporations, NGOs, ShGs, JLGs and Cooperatives.
PurposeSetting up of fish ponds.
Loan LimitMaximum up to Rs. 10.00 Lakhs including 1.00 lakh w/c.
Rate of Interest*10.25%
Margin15.00%
Repayment PeriodMaximum 9 years including grace period of one year.
Collateral SecurityNo 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

ParticularsDescription
BeneficiaryIndividual entrepreneurs, farmers, producer companies, partnership firms, companies, partnership firms, corporations, NGOs, ShGs, JLGs and Cooperatives.
PurposeSetting up of Bee keeping units.
Loan LimitMaximum up to Rs. 10.00 Lakhs including 1.00 lakh w/c.
Rate of Interest*10.25%
Margin15.00%
Repayment PeriodMaximum 7 years including grace period of six months.
Collateral SecurityNo 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.