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| COMPARE : PERSONAL LOAN |
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| The Mahanagar Co-op Bank Ltd Personal Loan |
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| Introduction |
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| The bank provides loans for Consumption Purpose, house Repairs / Renovations / Consumer Durables, Vehicles, Education of Children, Any Valid reason which is not illegal/immoral |
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| Highlights |
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Salaried |
Self Employed |
| Loan Type |
Term Loan |
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| Loan Amount |
Min. - Rs 50000
Max. - Rs 200000
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| Tenure |
Min. - 12 months.
Max. - 84 months.
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 Fees & charges
Fees & charges
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Application Process
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Application Process |
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Documents required:
Loan application with photographs of borrower and Sureties
· Residential proof of Applicant and sureties
· Income proof of Applicant and surety
· Bank Account statement for 6 months showing credit of salary.
· In case of consumption purpose then quotation is required.
· In case of house repairs/renovations estimate of total expenditure is required.
· Undertaking from the employer to remit loan installments /salary directly to the bank.
· Any other document required by bank. |
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Security
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Security |
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Minimum two Sureties out of which one should be an income tax payer
· The Borrower and all the sureties should be Regular/Nominal members of the Bank.
· For Professional, they must be an income tax payers.
· Collateral security if any.
· NSC/LIC/FD/Gold can be taken as Security and repaying capacit |
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