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    NKGSB Co-Operative Bank Personal Loan

    Overview about NKGSB Co-Operative Bank Personal Loan

    NKGSB was established in 1917 and has grown into a multi-state bank after a modest beginning. It has 99 branches spread across Goa, Karnataka, Gujarat, and Maharashtra as well as in union territories of Dadra and Nagar Haveli, Diu, and Daman. Mumbai alone has 48 branches and the bank has been growing consistently both in terms of quality and quantity, thus offering a number of financial products and services. The personal loan facility offered by NKGSB can be used to finance a number of personal expenses such as follow:

    Purpose of NKGSB Co-Operative Bank Personal Loan

    • To pay for marriage expenses
    • To finance higher education
    • To clear medical debts
    • To pay off old debts
    • To pay for house repairs or renovations

    Eligibility Criteria for NKGSB Co-Operative Bank Personal Loan

    Must be a salaried individual / businessman

    Features and Benefits of NKGSB Co-Operative Bank Personal Loan

    • The maximum amount that can be availed through this loan is Rs.2 lacs
    • Interest rate is calculated on reducing balance method
    • Simple documentation
    • Low processing fee
    • Attractive rate of interest
    • Quick loan approval
    • Simple repayment options – standing instruction / post-dated cheque / ECS
    • No pre-payment fees if repayment is done through own source
    • All assets can be covered by insurance at attractive premium
    • The bank accepts two to three guarantors as security
    • The maximum repayment period is five years

    Documents Required for NKGSB Co-Operative Bank Personal Loan

    • Account opening form
    • Proof of identification
    • Proof of address
    • Bank statement for the past one year
    • Two recent passport size photographs
    • Repayment track records if the customer has had any previous loans
    • Income proof: salary slips of the last three months along with income tax returns and form 16 of the last three years in case of salaried individuals, and balance sheet of the last three years along with profit and loss statement and income tax returns for businessmen.
    • In case the funds are used for house repairs, the borrower must provide estimate of renovation and repairs
    • If the loan is taken for meeting educational requirements, the borrower must provide an estimate of expenditure and proof of admission
    • If funds are borrowed for business purposes, the borrower must provide tax returns along with an audited statement of accounts for the past three years
    • If the funds are used to meet medical expenses, all the medical bills must be presented to the bank
    • If the loan is taken to pay for a marriage, an estimate of expenditure along with the invitation bank must be submitted to the bank
    • If the loan is taken to repay old debts, an acknowledgement of debt must be provided to the bank
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