Type of loans sanctioned to Societies

1.   Short Term Cash Credit for Agricultural Purposes / Kissan Credit Card.
    • Purpose – Agriculture and allied activities.
    • Rate of interest – 6.5%
    • Period of Loan 1 year, up to 31st March every year.

 2.   Ordinary Loan Cash Credit    
    • Purpose – Various purposes.
    • Rate of interest – 12.50%
    • Period of Loan 1 year, up to 31st March every year.

3.  Term Loan
    • Purpose – For any purpose including construction of building   
    • Rate of interest – 14%
     •Period of Loan up to 10 years.

4.   Housing Loan / Vehicle Loan    
    • Purpose – House Construction, Purchase of House property, Repair & Maintenance.   
    • Rate of interest –  
                            1. Up to 3,00,000              13 %
                            2. 3,00,000 to 5,00,000     13.25 %
                            3. 5,00,000 to 10,00,000   14.25 %
                            4. Above 10,00,000           15 %
    • Period of Loan 15 years (including 12 months grace period.)
            
5.   Gold Loan Cash Credit
    • Purpose – reimbursement loan.
    • Rate of interest – 11%
    • Period of Loan 1 year, up to 31st December every year.
    • Limit – 75% of outstanding amount sanction in societies.

6.   Gold Loan Cash Credit for Agricultural Purpose
    • Purpose – Agriculture and allied activities.
    • Rate of interest – 9%
    • Period of Loan 1 year, up to 31st March every year.

7.   Business Overdraft
    • Purpose – Business.
    • Rate of interest – 14 %
    • Period of Loan 1 year, up to 31st December every year.

8.   SHG/ JLG Loan
    • Purpose – Agriculture and allied activities, Education, Marriage, Medical Treatment, House maintenance, Clearing prior debts.
    • Rate of interest – 11%
    • Period of Loan 3 years.

9.   Other Over Draft
    • Purpose – Working Capital, Marketing,  Manure.
    • Rate of interest – 14%
    • Period of Loan 1 year, up to 31st December every year