Annual Report 2020-21
 
Housing Loan 9.25% p.a.
Business Loan 13.00%p.a.
Two Wheeler Loan 15.00%p.a.
Four Wheeler Loan 10.50%p.a.
Gold Loan 9.00%p.a.
Staff Loan 12.00%p.a.
Overdraft Loan 13.00%p.a.
Interest Rate on Deposits
 
Period Rate of Interest
30 Days to 90 Days 4.00% p.a.
91 Days to 180 Days 4.50% p.a.
181 Days to upto 1 Year 5.50% p.a.
Above 1 Year to upto 3 Year 6.50% p.a.
Above 3 Years 6.00% p.a.

Note : 0.50% extra on Senior Citizens

Interest Rate on Recurring Deposits 8.00% p.a. (Above 1 Year to upto 5 Year)

 

Loans

Vehicle Loan

The customer can have the vehicle for the purpose of his business and domestic needs.
Margin money 25% of the quotation value to be paid by the customer and the Bank will provide for the rest 75% of the quotation value.
In case of second-hand vehicle, the bank will assist up to 50% of the amount quoted in valuator's report.
The customers will have to hypothecate the vehicle; in case of a second hand vehicle, a collateral security is necessary.
Collateral security documents (Open site or building)

Registered title deed - Original

  1. Previous title deed - original/certified copy/photocopy.
  2. Municipal endorsement transferring khata-original
  3. Municipal khata extract for 13 years original
  4. Tax paid receipt for the current year-original.
  5. Encumbrance certificate for 13 years.

Housing Loan

The customer can have his dream house by availing our home loans. Loans are available for purchase of sites, repairing and renovating old house.

Security

  1. Registered title deed- original.
  2. Previous title deed -original/certified copy/photocopy. Municipal endorsement transferring khata-original
  3. Municipal khata extract for 13 years original.
  4. Tax paid receipt for the current year-original.
  5. Encumbrance certificate for 13 years.
  6. N.A. Conversion order-copy.
  7. Approved layout plan-copy
  8. Commencement certificate issued by HUDA, hospet-original. Building construction license issued by municipality-original
  9. Approved building construction plan-original.

Business Loan

The customer can get the working capital and also have fixed assets for business purpose.

Security Documents

Financial papers

Previous 3 years balance sheet and relevant papers required. * Income tax assessment copies

Collateral security documents: (Open site or building)

  1. Registered title deed- original.
  2. Previous title deed -original/certified copy/photocopy. Municipal endorsement transferring khata-original
  3. Municipal khata extract for 13 years original.
  4. Tax paid receipt for the current year-original
  5. Encumbrance certificate for 13 years.

Gold loan

  1. The customer can have financial help for emergency needs against his/her gold.
  2. Security: Gold

Key loan

In this scheme customer can have loans against ware how receipt

Collateral security documents: (Open site or building)

  1. Registered title deed- original.
  2. Previous title deed -original/certified copy/photocopy. Municipal endorsement transferring khata-original
  3. Municipal khata extract for 13 years original
  4. Tax paid receipt for the current year-original
  5. Encumbrance certificate for 13 years.

Security Documents

Financial papers

Previous 3 years balance sheet and relevant papers required. * Income tax assessment copies

Collateral security documents: (Open site or building)

  1. Registered title deed- original.
  2. Previous title deed -original/certified copy/photocopy. Municipal endorsement transferring khata-original
  3. Municipal khata extract for 13 years original
  4. Tax paid receipt for the current year-original
  5. Encumbrance certificate for 13 years.

Hundi discount

The customer can have the financial assistance against his supplied bills. This facility is given only on existing security.


Salary loan

Salary earners can get the financial assistance for the domestic needs.

Security

  1. Salary deduction certificate from the employer
  2. Salary deduction authorization letter from the employee. Salary certificate for income proof
  3. Quotation for domestic articles

Temporary loan

The customer can have the financial assistance for his business purpose for a short period. This facility is given only on existing security.