LONG TERM LOAN POLICY OF GOPINATH PATIL PARSIK JANTA SAHKARI BANK LTD.

Gargi Bohra

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WHAT IS A LOAN POLICY?

Loan underwriting guidelines, and the written documentation setting forth these standards, as determined by a bank's senior loan committee.

A bank's loan policy also establishes minimum credit standards in booking new loans, policies and procedures in treatment of past-due and delinquent loans, and more generally, the type of customer a bank wants as a borrower.

TYPES OF LOANS Housing Loans  House Repairs Vehicle Loan Article Loan Group Loan Scheme Term Loan For Business Builders & Contractors TUF Scheme Cash Credit Loan Education Loan Professional Loan Gold Loan  Loan Against Term Deposit

HOUSING LOAN

For purchase of flat or Construction of House The persons eligible are salaried, self-

employed or Businessman Maximum Loan Amount is 50 lacs Repayment upto 15 years. Security is Registered Mortgage of Flat to be

Purchased / House to be constructed Floating Rate of Interest is 11.5% and Fixed

rate of interest is 13%.

HOUSE REPAIR AND RENOVATION LOAN

For the purpose of renovation of House or flat Security can be any movable or immovable

property Any individual is eligible The minimum loan amount is 2 lacs, there is

no maximum limit. Rate of interest:  Up to  25 Lacs-15.00% Above  25 Lacs to below 50 Lacs-14.50% 50 Lacs and Above-14.25%

VEHICLE LOAN

For new two or four wheelers for personal use.

Security can be either the vehicle or salary Rate of Interest- Floating- 12.5%Fixed- 14%

GROUP LOAN

In certain cases where the employer undertakes to deduct the loan installment under sec 49 of Maharashtra State Co-op. Act, 1960 and remit the same towards the repayment of loan or undertakes to remit the monthly salary of employees directly to the Bank till entire loan is repaid and intimation to that effect is given by Bank.

In such cases, Group Loan may be considered, provided Minimum number of Employees applying at a time in a group is 10.

For Purchase of Consumer durable goods ( with or without security of consumer durable goods )And / Or For repayment of debtsAnd / Or For House repairing And / Or For any other purpose

Loan amount can be a maximum of 3 lacs. ROI- Fixed 15.5% Floating 14%

MICRO, SMALL & MEDIUM ENTERPRISES LOANS 

For Business Expansion, Purchasing Machinery & Raw Material or Setting New Project

ROI is as per Gradation Any Individual / Firm / Partnership Firm /

Company are eligible Security can be any movable or immovable

property which will be under mortgage.

T.U.F. (TECHNOLOGY UPGRADATION FUND) SCHEME

This is a loan provided for Textile Business.  Bank has been extending financial

assistance by providing concessional Interest rate for purchase of machinery for textile business.

Any Individuals / Partnership Firms / Companies are eligible.

Immovable or immovable property can be given as asecurity.

ROI upto 25 lacs is 14.5% and beyond that is as per gradation.

EDUCATION LOAN

For the purpose of higher education. The loan amount allowed is upto10 Lacs for

studies in India and upto 20 Lacs for studies in Abroad.

Security: Tangible Collateral security owned by Parents or Guarantor. 'Whole Life' Insurance Policy on the life of the student, for loan amount.

GOLD LOAN

Any person who is an Account holder of Gopinath Patil Parsik Janata Sahakari Bank Ltd, Capable of producing Documents of Ownership of Gold Ornaments, as per satisfaction of Bank is eligible.

The amount of loan is Maximum upto 80% of Valuation of Gold Ornaments given by Bank’s Panel Valuer.

Hassle free Documentation. NO PROCESSING CHARGES except Valuer’s

Fees.

LOAN AGAINST TERM DEPOSIT / NSC / KVP Margin : Bank shall sanction Loan / Advance not

exceeding 90% of the amount including accrued               interest, against Term Deposit / Recurring Deposit.

Repayment Period : Repayment period shall not extend beyond the maturity date of the deposit.

Rate of Interest : Interest will be charged @ 2.00% p.a. above the rate

offered on such deposits, for loan amount upto Rs. 5 (five lakh) to the Depositor &/or his close relative viz Father, Mother, Brother, Son, Daughter & spouse.

Interest will be charged @ 1.00% p.a. above the rate offered on such deposits, for loan amount above Rs. 5 (five lakh) to the Depositor &/or his close relative viz Father, Mother, Brother, Son, Daughter & spouse. 

Interest will be charged @ 3.00% p.a. above the rate offered on such deposits if the Term Deposit / Recurring Deposit against which loan is being availed, belongs to a third party who is not a close relatives of the Borrower (viz. Father, Mother, Brother, Son, Daughter & spouse).

THANK YOU!!