LOAN SCHEMES
AGRICULTURE LOAN
Short Term Crop Loan
| Beneficiary | : | Farmers. |
| Purpose | : | Production of Crops |
| Loan Limit | : | As per land holding and scale of finance. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin money required. |
| Repayment Period | : | Half Yearly linked with Harvesting. |
| Collateral Security | : | Nill. |
Medium Term Agriculture Loan
| Beneficiary | Farmers |
| Purpose | Investment credit for installation of pump set, purchase of Agriculture implements, land reclamation, construction of bunds, polutry, piggery, purchase of mich cattle, gobar gas plant. |
| Rate of Interest* | Click Here |
| Margin | As per scheme. |
| Repayment Period | Five Years |
| Collateral Security | As per scheme. |
| 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. |
| Rate of Intt | : | Click Here |
| Margin | : | As per Scheme. |
| Repayment Period | : | Five Years. |
| Collateral Security | : | 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.15.00 Lac. Subject to Rs.1.50 Lac per acre |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | Renewable on annual basis |
| Collateral Security | : | Agriculture Land valuing at 150% of the loan amount. |
Credit for setting up of Agricultural Service Center
| Beneficiary | : | Any individual farmer holding the agriculture land |
| Purpose | : | To purchase the agricultural implements. |
| Loan Limit | : | Maximum amount Rs 8.5 Lacs. |
| Rate of Intt | : | Click Here |
| Margin | : | 12% |
| Repayment Period | : | Maximum 5 years. |
| Collateral Security | : | Collateral security valuing 150% of the loan amount. |
| Installment per lac | : | Rs 2225.00 for 5 years. |
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 |
| Rate of Intt | : | Click Here |
| Margin | : | 15% |
| Repayment Period | : | Maximum 5-6 years in equated monthly installments including grace period of one year. |
| Collateral Security | : | 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 |
| Rate of Intt | : | Click Here |
| Margin | : | 15% |
| Repayment Period | : | Maximum 7 years in equated monthly installments including grace period of two years. |
| Collateral Security | : | 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 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 working capital requirments etc. |
| Loan Limit | : | Maximum loan amount upto Rs.10.00 lacs including working capital limit |
| Rate of Intt | : | Click Here |
| Margin | : | 15% |
| Repayment Period | : | Maximum 9 years in equated monthly installments including grace period of one year. |
| Collateral Security | : | 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. |
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 |
| Rate of Intt | : | Click Here |
| Margin | : | 15% |
| Repayment Period | : | Maximum 7 years in equated monthly installments including grace period of 6 months |
| Collateral Security | : | 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. |
DAIRY LOAN
Dairy Loan to members of MPACS
| Beneficiary | : | Members of Coop. Milk Producers Societies. |
| Purpose | : | Purchase of maximum 2 miltch cattle. |
| Loan Limit | : | Maximum amount uptoRs. 1.00 lac |
| Rate of Intt | : | 10.25% |
| Margin | : | 10%. |
| Repayment Period | : | Maximum 5 years in equated monthly or quarterly installments with option of 3 months moratorium as per requirement |
| Securities | : | 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 Societies. |
| Purpose | : | Purchase of upto 10 miltch cattle. |
| Loan Limit | : | Maximum amount up-to Rs. 5.00 Lac. Rs. 0.50 lakh per animal |
| Rate of Intt | : | Click Here |
| Margin | : | 15%. |
| Repayment Period | : | Maximum 5 years |
| Securities | : | Mortgage of landed property value of 150% of the loan amount. Also guarantee of two persons who shall be nominal members of the banks. |
Commercial Dairy Loan
| 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, construction of shed and to purchase of equipments. |
| Loan Limit | : | Maximum amount up-to Rs. 50.00 Lac. |
| Rate of Intt | : | Click Here |
| Margin | : | 15% |
| Repayment Period | : | Maximum 9 years. |
| Collateral Security | : | Mortgage of landed property value of 150% of the loan amount. Guarantee of two persons who shall be nominal members of the bank. |
EDUCATION LOAN
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. 15.00 Lac. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | The installment will start after completion of course. Maximum 5 years. |
| Collateral Security | : | 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. etc. Two guarantors known to the bank will also be taken. |
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. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | The installment will start after completion of course. Maximum 5 years. |
| Collateral Security | : | Mortgage of landed property value of 100% of the loan amount. |
EMPLOYEE LOAN
Personal Loan
| Beneficiary | : | Employees of Punjab Govt., PSU, Boards, Corporations etc. |
| Purpose | : | Credit Facility for meeting out socio-economic needs. |
| Loan Limit | : | 15 times of gross monthly salary or Rs. 4.00, whichever is less. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | Maximum 7 years. |
| Collateral Security | : | Two Good Sureties as per satisfaction of the bank. |
Personal Loan 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. |
| Rate of Intt | : | Click Here |
| Margin | : | No margin money required. |
| Prepayment Option | : | Borrower can make the part pre-payment of the loan. No penalty will be charged. |
| Repayment Period | : | Maximum 7 years. |
| Collateral Security | : | 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. |
Consumer Durable Loan
| Beneficiary | : | permanent employee of organised sector where provident fund is deducted |
| Purpose | : | For the establishment of cottage, tiny and SSI unit. |
| Loan Limit | : | 10 times of gross monthly salary or 75% of cost of article to be purchased or Rs. 2.00 lac whichever is less. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | Maximum 5 years. |
| Collateral Security | : | Two Good Sureties as per satisfaction of the bank. |
Overdraft facility
| 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. |
| Loan Limit | : | Maximum 3.00 Lakh |
| Rate of Intt | : | Click Here |
| Margin | : | No margin money required. |
| Repayment Period | : | Renewable each year. |
| Collateral Security | : | Two Good Sureties as per satisfaction of the bank. |
HOME LOAN
Rural Housing Loan
| 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. |
| Rate of Intt | : | Click Here |
| Margin | : | 15% |
| Repayment Period | : | Maximum 15 years. |
| Collateral Security | : | Agricultural land for the value of 100% of the loan amount besides the Mortgage of house to be financed by the bank. Two good sureties also to be taken |
Urban Housing Loan
| 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. 25.00 Lac. |
| Rate of Intt | : | Click Here |
| Margin | : | 25% |
| Repayment Period | : | Maximum 15 years. |
| Collateral Security | : | First mortgage of House Property to be financed by the bank. |
LOAN AGAINST PROPERTY/RENTAL INCOME
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. 3 times of the net annual income or 50% of the value of the property, whichever is less. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | Maximum 6 years. |
| Collateral Security | : | 200% of the loan amount |
Loan against Rental Income
| 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 50% of post TDS Rent Receivable for a period. Not exceeding 120 months or un- expired period of lease or Rs 25.30 Lac whichever is less. |
| Rate of Intt | : | Click Here |
| Margin | : | 50% |
| Repayment Period | : | Maximum 10 years. |
| Collateral Security | : | Mortgage of landed property value of 150% of the loan amount. |
SHAKTI SCHEME
Mai Bhago Loan
| 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. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | Maximum 5 years. |
| Collateral Security | : | 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. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | Maximum 5 years. |
| Collateral Security | : | One good Surety having landed property. |
| Installment | : | Rs. 550.00 for 5 years. |
NON FARM SECTOR LOAN
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. |
| Rate of Intt | : | Click Here |
| Margin | : | Minimum 10% |
| Repayment Period | : | Maximum 5 to 7 Years. |
| Collateral Security | : | Immovable Properties for the value of 150% of the amount. |
Cash Credit for Traders
| Beneficiary | : | Individual, Sole Prop., Firm, Coop. Societies or a Company. |
| Purpose | : | For meeting working capital requirement of business. |
| Loan Limit | : | Rs 25 lacs |
| Rate of Intt | : | Click Here |
| Margin | : | 25% |
| Repayment Period | : | Renewable on annual basis. |
| Collateral Security | : | Immovable Properties for the value of 150% of the amount. |
VEHICAL LOANS
Vehicle Loan
| 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 or 4 times of annual income whichever is less. |
| Rate of Intt | : | Click Here Up to Rs 5 Lac 8.00% >Rs 5 Lac to <Rs 10 Lac8.00% Rs 10 Lac to Rs 15 Lac8.00% |
| Margin | : | 20% |
| Repayment Period | : | Maximum 5 years. |
| Collateral Security | : | Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle |
Second Hand Vehicle Loan
| Beneficiary | : | Individual, Sole Prop., Professionals and Partnership Firm. |
| Purpose | : | For the purchase of second hand vehicle should be not more than 4 years. |
| Loan Limit | : | Maximum amount up-to Rs. 5.00 Lac or 75% of cost of vehicle or 1.5 times of annual income whichever is less. |
| Rate of Intt | : | Click Here |
| Margin | : | 25% |
| Repayment Period | : | Maximum 5 years. |
| Collateral Security | : | Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle. |
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. 0.75 Lac or 85% of value of vehicle whichever is less. |
| Rate of Intt | : | Click Here |
| Margin | : | 15% |
| Repayment Period | : | Maximum 5 years. |
| Collateral Security | : | One Good Sureties as per satisfaction of the bank. |
EARNEST MONEY SCHEME
Loan Scheme 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. |
| Rate of Intt | : | Click Here |
| Margin | : | No margin money required. |
| Repayment Period | : | On Receipt of Refund from Housing Board. |
| Collateral Security | : | No Immovable Security is required. Only two post dated Cheque req. |
OTHERS SCHEME
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/-. |
| Rate of Intt | : | Click Here |
| Margin | : | No Margin required. |
| Repayment Period | : | Maximum 5 years. |
| Collateral Security | : | No collateral security required.Only two sureties required. |
| Installment | : | Rs. 2002.00 for 5 years. |
