Phone: 0172-5061415, 5067036, 5049212 | Fax: 0172-2620746.

DIFFERENT TYPES OF LOANS SCHEMES

Bee Keeping Loan Scheme

Beneficiary           :Individual entrepreneurs, farmers, producer companies, partnership firms, corporations, NGOs, SHGs, JLG,s and Cooperatives.
Purpose               :Setting up of bee keeping unit
Loan Limit            :Maximum amount upto Rs.10.00 lacs
Rateofintt            :10.25%
Margin                 :15%
RepaymentPeriod   :Maximum 7 years in equated monthly installments including grace period of 6 months
CollateralSecurity   :Time pronote, hypothecation of the bee-keeping boxes to be financed by the bank, guarantee of two persons having sufficient net worth and should be nominal member of the bank. Mortgage of the landed property whose value not less than 150% of the loan amount.

Piggery Loan Scheme:

Beneficiary           :Individual entrepreneurs, farmers, producer companies, partnership firms, corporations, NGOs, SHGs, JLG,s and Cooperatives.
Purpose               :Setting up of pig rearing and breeding farms
Loan Limit            :Maximum amount upto Rs.10.00 lacs
Rateofintt            :10.25%
Margin                 :15%
RepaymentPeriod   :Maximum 5-6 years in equated monthly installments including grace period of one year.
CollateralSecurity   :Time pronote, hypothecation of the animals to be financed by the bank, guarantee of two persons having sufficient net worth and should be nominal member of the bank. No collateral security for loan upto Rs.1.00 lac. Loan for Rs.1.00 lac and above will be sanctioned on mortgage of landed property whose value should not be less than 150% of the loan amount.

Goat Rearing Loan Scheme

Beneficiary           :Individual entrepreneurs, farmers, producer companies, partnership firms, corporations, NGOs, SHGs, JLG,s and Cooperatives.
Purpose               :Setting up of goat rearing unit
Loan Limit            :Maximum amount upto Rs.5.00 lacs
Rateofintt            :10.25%
Margin                 :15%
RepaymentPeriod   :Maximum 7 years in equated monthly installments including grace period of two years.
CollateralSecurity   :Time pronote, hypothecation of the animals to be financed by the bank, guarantee of two persons having sufficient net worth and should be nominal member of the bank. Mortgage of the landed property whose value should not be less than 150% of the loan amount.

Fishery Development Loan Scheme

Beneficiary           :Individual entrepreneurs, farmers, producer companies, partnership firms, corporations, NGOs, SHGs, JLG,s and Cooperatives.
Purpose               :Construction of new fish pond/renovation of existing fish pond etc.
Loan Limit            :Maximum amount upto Rs.10.00 lacs
Rateofintt            :10.25%
Margin                 :15%
RepaymentPeriod   :Maximum 9 years in equated monthly installments including grace period of one year.
CollateralSecurity   :Time pronote, hypothecation of the fishes to be financed by the bank, guarantee of two persons having sufficient net worth and should be nominal member of the bank. Mortgage of the landed property whose value should not be less than 150% of the loan amount.

SHORT TERM AGRICULTURE LOANS (CROP LOAN)

Beneficiary           :Farmers
Purpose               :Production of Crops
Loan Limit            :As per land holding and scale of finance
Rateofintt            :7.00%
Margin                 :No margin money required.
RepaymentPeriod   :Half Yearly linked with Harvesting
CollateralSecurity   :Nil

MEDIUM TERM AGRICULTURE LOAN

Beneficiary           :Farmers
Purpose               :Investment credit for installation of pump set, purchase of Agri. implements, Land reclamation, Construction of bunds, Poultry, Piggery, Purchase of Milch Cattle, Gobar Gas Plant.
Loan Limit            :Not mention
Rateofintt            :13.50%
Margin                 :As per Scheme
RepaymentPeriod   :Five Years
CollateralSecurity   :As per Scheme

Revolving Cash Credit to Farmers (RCC)

Beneficiary           :Any individual farmer holding the agricultural land.
Purpose               :Credit facility for meeting out socio-economic needs.
Loan Limit            :Maximum amount Rs.6.00 Lac. Subject to Rs.1.00 Lac per acre
Rateofintt            :11%
Margin                 : No margin money required
RepaymentPeriod   :Renewable on annual basis
CollateralSecurity   :Agriculture Land valuing at 150% of the loan amount.

Dairy loan to members of MPCS

Beneficiary           :Members of Coop. Milk Producers Societies
Purpose               :Purchase of maximum 2 miltch cattle.
Loan Limit            :Maximum amount uptoRs. 1.00 lac
Rateofintt            :10.25%
Margin                 :10%
RepaymentPeriod   :Maximum 5 years in equated monthly or quarterly installments with option of 3 months moratorium as per requirement
CollateralSecurity   :No Guarantee for loan upto Rs.50,000/- or for one animal. For loan more than Rs.50,000/- or more than one animal:- guarantee by one person who should be nominal member of the bank. The guarantor should be the owner of at least one acre of agricultural land or a govt./ semi govt/ board/ corporation/ cooperative employee having remaining service more than the tenure of loan.

Mini Dairy Scheme

Beneficiary           :Members of Coop. Milk Producers Society/ PACS.
Purpose               :Purchase of up to 25 milch cattle.
Loan Limit            :Maximum amount up-to Rs. 5.00 Lac.
Rateofintt            :10.50%
Margin                 :15%
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :Mortgage of landed property value of 150% of the loan amount.
Installment           :Rs. 2150.00 for 5 years.

Commercial Dairy Development Scheme

Beneficiary           : Any Individual, Partnership Firm, corporate body and any other Co - operative organization.
Purpose               :To increase the income of milk producers by helping them to purchase High yielding milch cattle and to purchase of equipments.
Loan Limit            :Maximum amount up-to Rs. 25.00 Lac.
Rateofintt            :10%
Margin                 :15%
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :Mortgage of landed property value of 150% of the loan amount.
Installment           :Rs. 2125.00 for 5 years.

Non Farm Sector Loan Scheme (NFS)

Beneficiary           :Individual, Sole Prop., Firm, Coop. Societies or a Company.
Purpose               :For the establishment of cottage, tiny and SSI unit.
Loan Limit            :Maximum amount up-to Rs. 25.00 Lac at CCB Level.
Rateofintt            :Up to Rs.0.50 Lac 11.50% Above Rs.0.50 Lac 12.00%
Margin                 :Minimum 10%
RepaymentPeriod   :Maximum 5 to 7 Years.
CollateralSecurity   :Immovable Properties for the value of 150% of the amount.
Installment           :Rs. 2225.00 for 5 years.

Rural Housing Scheme

Beneficiary           :Individual and Members of Coop. Housing Societies.
Purpose               :Purchase of built up house, construction of new house, repairs / Renovation and addition of existing house in rural areas.
Loan Limit            : Maximum amount up-to Rs. 15.00 Lac.
Rateofintt            :10%
Margin                 :15%
RepaymentPeriod   :Maximum 15 years.
CollateralSecurity   :Agricultural land for the value of 100% of the loan amount besides the Mort - gage of house to be financed by the bank.
Installment           :Rs. 1074.00 for 15 years.

Urban Housing Scheme

Beneficiary           :Individual and Members of Coop. Housing Societies.
Purpose               :Purchase of built up house or flat, construction of new house, repairs/Renovation and addition of existing house in urban areas.
Loan Limit            :Maximum amount up-to Rs. 20.00 Lac.
Rateofintt            :10%
Margin                 :25%
RepaymentPeriod   :Maximum 15 years.
CollateralSecurity   :First Mortgage of House Property to be financed by the bank.
Installment           :Rs. 1074.00 for 5 years.

Personal Loan Scheme

Beneficiary           :Employees of Punjab Govt., PSU, Boards, Corporations etc.
Purpose               :Credit Facility for meeting out socio-economic needs.
Loan Limit            :12 times of gross monthly salary or Rs. 2.00, whichever is less.
Rateofintt            :14%
Margin                 :No Margin required.
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :Two Good Sureties as per satisfaction of the bank.
Installment           :Rs. 2276.00 for 5 years.

Vehicle Loan Scheme

Beneficiary           :Individual, Firm, HUF, Trust, Coop. Societies or a Company.
Purpose               :For the purchase of new vehicle for business and personal use.
Loan Limit            :Maximum amount up-to Rs. 15.00 Lac or 80% of cost of vehicle.
Rateofintt            :11 %
Margin                 :20%
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle.
Installment           :Rs. 2174.00 for 5 years

Second hand Vehicle Loan Scheme

Beneficiary           :Individual, Sole Prop., Professionals and Partnership Firm.
Purpose               :For the purchase of second hand vehicle should be not more than 3 years.
Loan Limit            :Maximum amount up-to Rs. 5.00 Lac or 75% of cost of vehicle.
Rateofintt            :13%
Margin                 :25%
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :Two Good Sureties as per satisfaction of the bank besides the Hypothecation of the vehicle.
Installment           :Rs.2225.00 for 5 years.

Consumer Durable Loan .

Beneficiary           : Employees of Punjab Govt., PSU, Boards, Corporations etc.
Purpose               :Credit Facility for meeting out socio-economic needs.
Loan Limit            :12 times of gross monthly salary or Rs. 2.00, whichever is less.
Rateofintt            :14%
Margin                 :No Margin required.
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :Two Good Sureties as per satisfaction of the bank.
Installment           :Rs. 2276.00 for 5 years.

Two Wheeler Loan To Farmers

Beneficiary           :An agriculturist having land in his own name or his family member.
Purpose               :For the purchase of new two wheelers.
Loan Limit            :Maximum amount up-to Rs. 0.50 Lac.
Rateofintt            :11.5%
Margin                 :15%
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :Two Good Sureties as per satisfaction of the bank.
Installment           :Rs. 1087.00 for 5 years.

Cash Credit Facility to Traders.

Beneficiary           :Individual, Sole Prop., Firm, Coop. Societies or a Company.
Purpose               :For meeting working capital requirement of business.
Loan Limit            :Maximum amount up-to Rs. 25.00 Lac.
Rateofintt            :13%
Margin                 :25%
RepaymentPeriod   :Renewable on annual basis.
CollateralSecurity   :Immovable Properties for the value of 150% of the amount.

Education Loan

Beneficiary           :Salaried employees of Coop. banks, Punjab Govt / Chandigarh Administration and its boards & Corporation.
Purpose               :To provide financial assistance to deserving and meritorious student for Pursuing higher studies in India or abroad.
Loan Limit            :Maximum amount up-to Rs. 10.00 Lac.
Rateofintt            :9%
Margin                 :No Margin required.
RepaymentPeriod   :The installment will start after completion of course. Maximum 5 years.
CollateralSecurity   :Mortgage of landed property value of 150% of the loan amount. For the loan up to Rs. 5.00 lac, no Immovable security is required. If the loanee is the employee of Punjab Govt.or Coop.Deptt..
Installment           :Rs. 2002.00 for 5 years.

Cooperative Education Loan Scheme children of poor farmers, Dalits, BC, etc.

Beneficiary           :Children of poor farmers, Dalits, BC, and other poor sections.
Purpose               :To provide financial assistance to deserving and meritorious students for Pursuing higher studies in India or abroad.
Loan Limit            :Maximum amount up-to Rs. 10.00 Lac.
Rateofintt            :7.25%
Margin                 :No Margin required.
RepaymentPeriod   :The installment will start after completion of course. Maximum 5 years.
CollateralSecurity   :Mortgage of landed property value of 100% of the loan amount.
Installment           :Rs. 1992.00 for 5 years.

Loan Against Property

Beneficiary           :Any Individual
Purpose               : To offer instant solutions relating to socio-economic needs and business Needs such as children’s higher education, Travel, daughter’s marriage Medical emergencies etc
Loan Limit            :Maximum amount up-to Rs. 25.00 Lac.
Rateofintt            :14%
Margin                 :No Margin required.
RepaymentPeriod   :Maximum 6 years.
CollateralSecurity   :
Installment           :Rs. 2061.00 for 6 years.

Loan against Rental Income Scheme

Beneficiary           :Owners of the Property who have let out or proposed to be let out the same to reputed company.
Purpose               :For meeting business/ personal needs.
Loan Limit            :Maximum to the extent of 75% of post TDS Rent Receivable for period Not exceeding 120 months or un- expired period of lease
Rateofintt            :14%
Margin                 :25%
RepaymentPeriod   : Maximum 10 years.
CollateralSecurity   :Mortgage of landed property value of 150% of the loan amount.
Installment           :1493.00 for 10 years.

Loan scheme for Earnest Money

Beneficiary           :Any Individual.
Purpose               :To meet the financial requirement towards earnest money deposit to book residential plot/ built house or flat by Govt. Approved Agency.
Loan Limit            :As per scheme of the Agency.
Rateofintt            :As fixed by the bank.
Margin                 :No margin money required.
RepaymentPeriod   :On Receipt of Refund from Housing Board.
CollateralSecurity   : No Immovable Security is required. Only two post dated Cheque req.

Mai Bhago Istri Shakti Scheme

Beneficiary           :Any women beneficiaries’ member of the PACS
Purpose               :To establish the micro or small business in rural areas
Loan Limit            :Rs. 25,000 through PACS.
Rateofintt            :PACS to members 10.75% CCB to PACS 9.25%
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :: One good Surety having landed property..
Installment           :Rs. 541.00 for 5 years.

Bhai Lalo Sehkari Kirt Shakti Scheme .

Beneficiary           :Any men/women beneficiaries’ member of the PACS
Purpose               :To establish the micro or small business in rural areas.
Loan Limit            :Rs. 25,000 through PACS
Rateofintt            :PACS to members 11.50% CCB to PACS 9.50%
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :: One good Surety having landed property..
Installment           :Rs. 550.00 for 5 years.

Credit for Setting up of Net House

Beneficiary           :Any Individual farmer holding the agriculture land.
Purpose               :To grow the seasonal vegetables.
Loan Limit            :Maximum amount Rs 90000/-.
Rateofintt            :12%
Margin                 :No Margin required.
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :No collateral security required.Only two sureties required.
Installment           :Rs. 2002.00 for 5 years.

Credit for Setting up of Agricultural Service Centre

Beneficiary           :Any individual farmer holding the agriculture land
Purpose               :To purchase the agricultural implements.
Loan Limit            :Maximum amount Rs 8.5 Lacs.
Rateofintt            :15%
Margin                 :12%
RepaymentPeriod   :Maximum 5 years.
CollateralSecurity   :Collateral security valuing 150% of the loan amount.
Installment           :Rs 2225.00 for 5 years.

Personal Loan Scheme for Professionals

Beneficiary           :Individuals practicing as professionals such as doctors, advocate, chartered engineers, chartered accountants, company secretary, architects, I.T professionals, interior designer, academicians running coaching centers.
Purpose               :Credit facility for meeting out socio-economic needs.
Loan Limit            :1.5 times of Net Annual Income or Rs.5.00 lac, whichever is less.
Rateofintt            :As decided by bank from time to time.
Margin                 :No margin money required.
RepaymentPeriod   :Maximum 7 years.
CollateralSecurity   :The valuation of the collateral security shall be 150% to the loan amount. In addition to that one guarantor known to the bank will also be taken.

Overdraft Facility to salaried employees having Salary Account with Coop. Bank

Beneficiary           :The beneficiary will be a regular/permanent employee of Punjab Govt., Semi Govt., Autonomous Bodies, Boards & Corporations, Apex, District, Cooperative Institutions or any other organization with the approval of BOD, whose salary is being credited in the saving account of bank branch.
Purpose               :Not Given
Loan Limit            :Maximum 1.50 lakhs
Rateofintt            :13%
Margin                 :No margin money required.
RepaymentPeriod   :Renewable each year
CollateralSecurity   :Two Good Sureties as per satisfaction of the bank.