LOAN AND CREDIT FACILITY

The BHOPAL central cooperative bank provided following

loan and credit facilities
PERSONAL LOAN SCHEME:Under this scheme the loan is provided for fulfillment of
personal and family needs by takingcare of refund capacity
of applicant. The applicant can enjoy this facility by following
twotypes
Term loan for maximum 5 years.

Renewal of Credit limit each year according to last years

transactions.
ELIGIBILITY:
Domicile of BHOPAL city whose age is between 21to 55
years.

Employee of Government/ self governed, semi government,

leading banks, urbancooperative bank/court, financial
institution, education institutes etc.

The self employed person who earns fixed income and files
income tax return alsohaving P
A
N card.

Organizer of standing committee.

LOAN/ CREDIT LIMIT:

Maximum loan amount is 2 lacks.

8 times of Gross Monthly salary or rs.2 lacks whichever is

less.

In the case of businessman/ professionals the calculation of

average monthly salaryis to be done according to the IT
return of past three years.

15 times of monthly salary of manager of selection

committee or 2 lacksWhichever is less
NTEREST RATE:A
ccording to the decision taken by bank the rate of interest is
16%.
RECOVERY OF LOAN:
Maximum 5
ve
years, in the case of employee 5
ve
years
or date of retirement whichever is earlier.

The advance cheque is taken according to EMI installments

of other banks.
FOR SECURITY OF LOAN:-

y
The bank requires the guaranty of 2 persons having
creditability of loan amount whoare recognized by bank.
y
The collateral security is also accepted by bank in the case of
non remunerated andemployer who having loan of more
than 50000 and lake of contract of direct recovery.
DOCUMENTS REQUIRED FROM APPLICANT:Photo of applicantResidential proof Two guarantorsIncome
certificate of applicant and guarantor In the case of salaried
employee the guarantee certificate passes by his
employer.In case of loan amount which is more than 50 lacks
the evaluated rate of fixed assetsfor mortgage.The nominal
membership fee and deposit amount.
EXECUTION OF DOCUMENTS AFTER SENCTION OF
LOAN:Promissory note.
Loan contract.Deed of security papers.Mortgage letter (in the
case of mortgage of fixed assets)
A
dvanced cheque (according to the installments)Other
documents
LOAN FOR PURCHASE OR CONSTRUCTION:Under this scheme an applicant may apply for loan related to
purchase of a plot, constructionof a building, purchase
and repairs of building.
ELIGIBILITY:
Domicile of Bhopal city whose age is between 21to 55 years.

Employee of Government/ self governed, semi government,

leading banks, urbancooperative bank/court, financial
institution, education institutes etc.

The self employed person who earns fixed income and files
income tax return also having PAN card.

Standing committee admin

LOAN/ CREDIT LIMIT:Maximum loan amount is 15 lacks for loan related to
purchase of a plot, construction of a building, purchase and
repairs of building.
INTEREST RATE:The interest rate is 10.50% in the case of normal purchase or
repairs of plot and in the case of purchase or repairs of
commercial building, shops the rate of interest is 14%.
TIME PERIOD OF LOAN:This loan can be taken Maximum for 15 years.
FOR SECURITY OF LOAN:The bank requires the guaranty of 2 persons having
creditability of l oan amount who arerecognized by bank.
DOCUMENTS REQUIRED FROM APPLICANT:Photo of applicantPopulated area plot strap which is on the
name of applicantCost estimate and construction cost map
which is approved by official engineer Income certificate of
applicant.Two guarantors and their income statement with
photo.The nominal membership fee and deposit amount
HOME LOAN:This loan scheme is for:

Purchase or construction of plot/building for the persons

having regular income andloan for take over the current loan
account for different financial institutes.


Construction or purchase of building for Commercial use,
business use, shops,showrooms, warehouse etc.

Repairing, expansion, and renovation of Home/ commercial

building.
ELIGIBILITY:
Domicile of Bhopal who wants to purchase/ construct the
building or house withinthe district.

Employee of Government/ self governed, semi government,

leading banks, urbancooperative bank/court, financial
institution, education institutes etc.

Business man who fills income tax return for last 3 years.

Normally the age limit for applicant is 50 years but it can be

extent up to 55 years incertain special cases.
LOAN/ CREDIT LIMIT:
The loan limit is up to 15 lakes

Rs. 2 lakes in the case of repairs

The margin would be 20% up to 2 lakes and 25% in the case

of abov e 2 lakes

There should be no margin in fee cost in the case of plot

replacement and tereshould be repayment in 3 installments
after fully utilization of his contribution of loanin the case of
construction
INTEREST RATE:FIXED RATE OF INTEREST:
Up to 5 years 10%From 5 to 10 years 10.50%
A
bove 10 years 11%
FLEXIBLE RATE OF INTEREST:
Up to 5 years 9.50%From 5 to 10 years 10%
A
bove 10 years 10.50%
TIME PERIOD OF THE LOAN:The time period for loan is maximum 15 years or date of
retirement whichever is earlier,
DOCUMENTS REQUIRED FROM APPLICANT:Loan application form.Photo of applicant and co
applicant.Copy of document of plot which is to be
purchased or constructed.Construction approval from
office in the case of construction.The cost estimation
and approved map of building going to be
constructed.Salary statement in case of salaried
applicant and income tax return of last 3 years incase
of non salaried applicant.Domicile certificate of
applicant. Income statement and identity card of two
gaunter etc
EXECUTION OF DOCUMENTS AFTER SENCTION OF
LOAN:Promissory note.Loan contract.Grantee deed of two
grunters.Mortgage letter of fixed assets
A
dvance cheque

cknowledgment according to selected interest

rate.Prescribed document from bank advocate.Other related
documents
EDUCATION LOAN:
This loan is for pursuing higher studies by their children.
ELIGIBILITY:Students who have got admission to some professional
or other courses and whose prospectsof getting employment
are very good.
LOAN/ CREDIT LIMIT:The maximum limit of loan is Rs. 3.00 lakes per borrower. 50
times of the gross monthlysalary of the applicant or Rs. 10.00
lakes whichever is less ensuring 35% take home salary bythe
loanee after payment of installment of loan.
INTEREST RATE:The rate of interest on such loan is 12%.
TIME PERIOD:5 years after the borrower gets employment or one year
after completion of course which ever is earlier
DOCUMENTS REQUIRED FROM APPLICANT:A
ttested copies of documents for proof of age/date of birth
and proof of residentialaddress.Passport size photo of the
applicant, co-obligates and guarantors.Copy of mark
sheets/degree certificates of previous academic
qualifications.Income proof/latest income tax return of
parents/co-obligates, guarantors. (if any)Details of collateral
security along with valuation certificate of Govt. approved
valuer (if any).Details/statements of Bank accounts held
by the student applicant/co-obligate(s)/guarantors (if any) for
the last six months.Copy of Passport/Visa, cost of air fare
(documentary detail) in case of studies abroad
COMMERCIAL/WORKING CAPITAL
MORTGAGE/CREDIT ON PLEDGEELIGIBILITY:The eligible candidates who can apply for such loan are
private firm, commercial, partnershipfirm.
AMOUNT OF LOAN:-

The amount of loan that can apply by eligible candidates is

maximum 25 lacks.
RATE OF INTEREST:The rate of interest which is charge by bank is 13%.
TIME PERIOD:The time period for loan is not fix but renewal of time period
can held according to transactionmade in between the
month of July to June of previous year.
Margin:On mortgage =40%On pledge =25%
DOCUMENT REQUIRED:passport size photoPrevious years account of firm.TIN NO.
Of firm.Partnership deed of partnership firms.Rent agreement
in case of industry on rent.Document of 2 assets on
mortgageTwo guarantors.
OTHER LOAN FACILITY
A
ll the loan schemes we have been seen above shows that
cooperative bank provided all kindof loans at nominal rate of
interest. The cooperative bank provides loan only to hits
membershence if a person wants loan from that bank he has
toThe Bhopal central cooperative bank provides some other
kind of loans also likeLoan for Self employment
(@14%).Loan for farm sector
(@13%),Loan for cooperative society/marketing society
(@14%),Computer loan
(@8%),Loan for farm sector
(@13%)Loan for non farm sector
(@14%)Krishak mitra cooperative credit
(@7%)Cooperative society/marketing society credit limit
(@ 14%)National saving certificate/ kisaan vikas patra
(@ 12%)National saving certificate/ kisaan vikas patra (for
staff)
(@8%)Loan to bank staff for computer (@12%)

Agriculture loan (up to 50000/-) (@12%)Non agriculture loan

(up to 50000/-) (@13%) etc.
The Bank has variety of credit schemes specially suitable to
individuals based on the Needsand personal repayment
capacity. The chart shows the increments in loan amount
given bybank to women self employment groups. The
amount of loan increases and the no. of groupsalso increase
due to fait and reasonable rate of interest on loan provided
by bank.
The recovery following table shows the total amount of loan
outstanding:
The chart shows the total amount of loan which will have
recovere by bank,the increamentshows the that trend to take
loan from cooperative bank increses ,it was a little bit
constant inyear 2005 and 2006 but then increase which
shows the interest of individual in taking loan from
cooperative bank
VEHICLE LOAN
(
for personal use):Under this scheme the loan is to be given for four wheeler
(car, jeep etc.) for personal useonly.
ELIGIBILITY:
Domicile of bhopal city.

Employee of Government/ self governed, semi government,

leading banks, urbancooperative bank/court, financial
institution, education institutes etc.

The self employed person who earns fixed income and files
income tax return also having PAN card.

Standing committee admin

LOAN/ CREDIT LIMIT:The loan provides up to 5 lacks for purchasing of four
wheeler for personal use.
INTEREST RATE:The rate of interest for four wheeler is 14%.
TIME PERIOD OF THE LOAN:The time limit set by the bank authority for this kind of loan is
maximum 7 years.
FOR SECURITY OF LOAN:The bank requires the guaranty of 2 persons having
creditability of loan amount who arerecognized by bank.
DOCUMENTS REQUIRED FROM APPLICANT:Photo of applicant and his legal license.
Vehicle quotation and income statement of applicant.
Fixed assets for mortgage.
Two guarantors with their income statement and photo.
The nominal membership fee and deposit amount.