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AUCB Akola Loan Schemes AUCB Akola
 
Personal Loans
 
Loan against property:
Bank provides an all purpose loan which fulfills dreams of any individual, proprietary firm & partnership firm, against mortgage of an immovable property other than agriculture land. Minimum amount of loan is Rs.25,000/- and maximum amount is Rs.50.00 Lac (subject to sealing of 50% of valuation of property). The loan is granted as a term loan for a period of 84 months or it can be availed as an overdraft facility to be reviewed annually. Personal guarantee of two regular members acceptable to the Bank is required.
 
Housing Loan:
Bank provides housing loan to eligible persons for construction of house/flat and renovation of existing house/flat. The loan can be granted up to Rs.25 Lacs which mainly depends upon the income of the applicant. The loan is required to be repaid within maximum period of 15 years. The applicant is required to bring in 25-30% margin towards the cost of house/flat. The mortgage of the house/flat so constructed/purchased is taken along with third party guarantee of two regular members acceptable to the Bank.
 
Gold Loan:
Bank provides loan to individuals against pledge of gold ornaments. The loan is granted @ Rs.1800 per gram which is subject to changes made by the bank from time to time. The loan is required to be repaid within a period of 12 months.
 
Car Loan:
Bank provides loans for purchase of car. The applicant is required to bring in a margin of only 20% towards the cost of vehicle. The loan is required to be repaid within a period of 84 months. Personal guarantee of two regular members acceptable to the Bank is required.
 
Vehicle Loan:
Bank provides loans for purchase of two wheelers. The applicant is required to bring in a margin of 25-30% towards the cost of the vehicle. The loan is required to be repaid within a maximum period of 5 years. Personal guarantee of two regular members acceptable to the bank is required.
 
Education Loan:
Bank provides loans for meeting expenditure for education in India or abroad. Loans up to Rs.10.00 Lacs are granted for the purpose of studies in India and up to Rs.20.00 Lacs for studies abroad. The applicant is required to bring in a margin of 30% for loans up to Rs.5.00 Lacs and 40% for loans above Rs.5.00 Lacs. The loan is required to be repaid in a period of 7 years after completion of education. Suitable security acceptable to the bank is required along with third party guarantee of two regular members acceptable to the bank.
 
Consumer loan:
Bank provides loans for purchase of electronics appliances, consumer durables etc. up to Rs.1.00 Lacs which is required to be repaid within a period of 3 to 5 years. The applicant is required to bring in a margin of 30% towards the cost of the product. Personal guarantee of two regular members acceptable to the bank is required.
 
Loan for solar water heater:
Bank provides loan for purchase of solar water heater of Sudarshan Saur where they provide 30% subsidy. The applicant is required to bring in a margin of 20% towards the cost of the solar energy product. Maximum amount of loan is Rs. 1.00 lac which is granted for a period of 12 months. Personal guarantee of two regular members acceptable to the Bank is required. The scheme is open upto 31.12.2015
 
 
Business Loans
 
Loans for trading & manufacturing units:
Bank provides working capital loans by way hypothecation/pledge of goods. Term loans are also given for purchase of equipments, machineries, construction of factory building etc. to traders and industrialists as per the needs of the unit. The non fund based facilities like issuance of Bank Guarantees and Letters of Credit are also granted. The loans are granted to existing as well as new units. Suitable security acceptable to the bank is required along with third party guarantee of two regular members acceptable to the bank.
 
Loans to Professionals:
Bank provides loans to professionals & self employed persons for purchase of furniture/fixture, equipments, construction of hospital etc. The applicant is required to bring in a margin of 25-30% towards cost of project. Suitable security acceptable to the bank is required along with third party guarantee of two regular members acceptable to the bank.
 
Loans against warehouse receipts:
Bank provides loans to customers against pledge of warehouse receipts of Govt. godowns or NBHC. Loan up to 60 to 70% of the present value of goods pledged is granted. Third party guarantee of two regular members acceptable to the bank is required.
 
  • Loans at the sole discretion of the Bank.
  • Conditions apply.
 
 
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