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Welcome to Vishwas Co-op. Bank Ltd., Nashik

Term/Installment loan

Term / Installment loan

Avail our Term loan Facility to meet your various business purposes, such as for business expansion, to purchase equipment, machinery or raw materials, to manage cash flow, to meet working capital requirements, buying office or business space/land, paying-off rent and salaries, hiring new staff, debt consolidation, etc. Installment loans are personal or commercial loans that you can repay with regularly scheduled payments or installments.

Features
  • Rate of Interest:
  • 9.80% (for Loan Amount upto Rs.10 lakhs)
  • 11.00% (for Loan Amount from Rs.10 lakhs 1 to Rs.25 lakhs)
  • 12.00%(for loan Amount more than Rs 25 lakhs for 10 Yrs)
Eligibility

Who can borrow :

Firm engaged in trade, commerce & business professionals, Proprietorship, Partnership, Pvt. Ltd. & Public Ltd. Companies.

  • Age Criteria: Minimum age of the applicant should be 18 years at the time of loan application and maximum should be 60 years at the time of loan maturity.
  • Applicant with good repayment history and high creditworthiness.
  • Applicant should possess good credit score or CIBIL score, ideally above 700.
  • Applicant should maintain regular source of income
  • Applicant with no defaults with any financial institution.

Prime Security:

  • First charge on the fixed assets acquired through the loan amount

Collateral Security :

  • If required, on case to case basis.

Guarantors :

  • Two Financial strong Guarantors Required.
Documents

Duly filled form with :

  • Income proof of Applicant and Guarantors
  • Residential Proof of Applicant and Guarantors
  • PAN card of Applicant and Guarantors
  • KYC of Applicant and Guarantors
  • Business establishment proof
  • Three years latest ITR
  • 10 PDC cheques

Personal Loan for Salaried Individuals covered with Employer Guarantee

Features
  • Rate of Interest : 12.99%
Eligibility

For Salaried Persons :

  • Employees of reputed and financially sound organization.
  • Should be on Payroll of the Company. Confirmed service for at least one year.
  • Loan amount eligible upto 65% of take home salary after deducting of all existing EMI’s.
  • Three months latest Salary Slip and six months Bank statement of salary account.
  • Salary Undertaking from the company

Co-Applicant :

  • Spouse/Parents/Blood Relatives of the applicant can be taken as co-applicant.

Guarantors :

  • Two Financial strong Guarantors Required.
Documents

Duly filled form with :

  • Income proof of Applicant and Guarantors
  • Residential Proof of Applicant and Guarantors
  • PAN card of Applicant and Guarantors
  • KYC of Applicant and Guarantors
  • 10 PDC cheques
  • Salary Undertaking from the Company

Personal Loan for Small Business (Without Mortgage)

Features
  • Loan Against Daily Collection / Repayment through Daily Collection
  • Loan Amount – 2 Lakhs
  • Loan Tenure – 2 Years (24 Months)
  • Interest Rate – 12%
  • Rate of Interest – 12%
Eligibility
  • Loanee should have completed minimum 1 year at the given Business Location
  • Loanee should be a local Resident of Nashik or should have property in his name or in the name of his family members.
  • Other Bank’s 5 Advance Cheques.

Personal Loan for Business (For Existing Borrowers, Without Mortgage)

Features
  • Loan Against Daily Collection / Repayment through Daily Collection
  • Loan Amount – 5 Lakhs
  • Loan Tenure – 5 Years (60 Months)
  • Rate of Interest – 13%
Eligibility
  • Loanee should have completed minimum 1 year at the given Business Location
  • Loanee should be a local Resident of Nashik or should have property in his name or in the name of his family members.
  • Other Bank’s 5 Advance Cheques
For more details please contact our nearest Branch or contact on 9130020888
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