Loan Process

• Loans are given for various productive purposes. Loan amount is decided on cost of project / borrower’s need / permissible bank finance.
• Two worthy guarantors and tangible security / collateral security is required.
• Preferably prospective borrower should be banks account holder.
• Borrower should be/should become a shareholder for availing loan if loan amount is more than 1 lac
• Prospective borrower can approach nearest branch and discuss his needs with bank’s representative.
• Borrower will submit loan application form along with all required documents of his own and of guarantors
• Branch manager will scrutinize the proposal and will visit borrower’s work place/house/office and get the information
• If required Branch manager will ask borrower to give additional supportive documents, valuation report, advocate’s opinion etc.
• Branch Manager will forward the loan application with his recommendations to Head Office.
• At Head Office proposal will be scrutinized
• Depending upon the loan amount Head Office’s representative will visit borrower’s work place/house/office and get the information
• If required Head Office will ask borrower to give additional supportive documents, valuation report, advocate’s opinion etc.
• Loan will be sanctioned/rejected as per merit / demerit of the proposal.
• Sanction / Rejection will be communicated to borrower and branch.
• Branch will contact and ask the borrower to fulfill any additional conditions stipulated by HO.
• Branch will prepare documents and get them executed from borrower/Guarantors. Branch will also execute other agreements i.e. mortgage etc.
• Set of executed documents will be sent to HO for scrutiny.
• Head Office will authorize the branch to disburse the loan amount.
• Loan will be disbursed as per H.O. instructions. Branch will disburse the loan and ask the borrower to submit stamped receipts.
• Repayment will start from stipulated date.
• Personal Unsecured loans will be given upto 50,000/- to share holder against two guarantors.
• Personal secured loans will be given upto 1 lac