• Citizen Credit Bank Loan for Small Scale Industries

    The Citizen Credit Co-operative Bank Ltd is a scheduled multi-bank which was registered as Bombay Catholic Urban Co-operative Credit Society in May 1920 but eventually got converted into a co-operative bank on October 20, 1984. The Citizen Credit Bank received its banking license in December 27, 1989 and a scheduled bank status in 1996. The Citizen Credit Co-operative Bank which received its multi-state co-operative status in 1998 offers various types of loans and advances such as housing loans, vehicle, self-employed, consumer, business, mortgage loans, gold loans, educational loans and loans against bank deposits among others.

    Purpose of Citizen Credit Bank Loan

    The Citizen Credit Co-operative Bank offers loans to small scale industries. The bank extends finance to various and eligible small scale enterprises to help the latter meet its various working capital and project finance requirements among others. The loan extended will allow small scale industries to meet their various financial needs necessary for the smooth functioning of their units.

    Eligibility criteria for availing Citizen Credit Bank Loan

    Citizen Credit Bank offers loan to the following:

    • Co-operative Society involved in a small and medium scale enterprise
    • Individuals
    • Groups of individuals
    • A company

    Features and benefits of Citizen Credit Bank Small Scale Industries

    • Security: Customers have to hypothecate their assets which have been acquired from the finance extended by the Citizen Credit Bank. Customers have to provide two guarantors in addition to any other required security which may vary on case-to-case basis

    • Loan Amount: Citizen Credit Bank will extend 75% of costs of projects (purchase materials/labour/services and so forth) undertaken by their customers as term loans against all invoiced/billed activities. Citizen Credit Bank will also extend finance for working capital requirements which will be primarily need-based and may vary on a case-to-case basis.
    • Repayment Period: Loans for small scale industries are customised to meet various requirements of customers. The loan has a maximum repayment period of up to 84 months
    • Penalty: Citizen Credit Bank does not charge any prepayment penalty on customers who wish to clear off their loans before the stated period.

    Documents required for Citizen Credit Bank Small Scale Industries Loan

    Customers have to submit the following loans to apply for the Citizen Credit Bank Small Scale Industries Loan

    • Evidence to substantiate the purpose of loan
    • Proof of residence (e.g, photocopy of ration card, telephone bill, electricity bill)
    • Proof of income (tax returns/statement of accounts of past three years)
    • Any other documents as required by the bank

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    This Page is BLOCKED as it is using Iframes.