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    The Kalyan Janata Sahakari Bank Personal Loan

    Overview about The Kalyan Janata Sahakari Bank Ltd Personal Loan

    The Kalyan Janata Sahakari Bank Ltd which began its operations in 1973 currently has a business mix of around Rs.2710 crores. The Kalyan Janata Sahakari Bank Ltd received the schedule status in 2000 and aims to provide the highest standards of service to its client base of over 3 lakhs. The Kalyan Janata Sahakari Bank Ltd has around 40,000 shareholders and provides a wide range of products and services to emerge as the 'Janata' bank.

    The Kalyan Janata Sahakari Bank Ltd offers its customers competitive interest rates on its deposit amounts and provides a wide range of products such as home loans, Tourist Loans, vehicle loans, business loans and education loans to its customers. Also, the Bank has extended support to around 12,000 entrepreneurs by offering attractive loan schemes.

    Purpose of Kalyan Janata Sahakari Bank Ltd personal loan

    The Kalyan Janata Sahakari Bank Ltd personal loan can be availed by customers for many purposes such as purchase of two-wheelers, home appliances and various types of electronic goods. Customers can apply for the Kalyan Janata Sahakari Bank Ltd personal loan scheme for the purpose of renovation and repair of their residences. The personal loan offered by Kalyan Janata Sahakari Bank Ltd can be taken for repayment of old debts and for any medical costs in addition to any expenses related to various types of religious ceremonies.

    Eligibility criteria for availing Kalyan Janata Sahakari Bank Ltd personal loan

    The Kalyan Janata Sahakari Bank Ltd personal loan can be availed by the following persons:

    1. Salaried employees
    2. Self-employed
    3. Businessmen
    4. Professionals with regular income source

    Features and benefits of Kalyan Janata Sahakari Bank Ltd personal loan

    The following are the features and benefits of personal loan offered by Kalyan Janata Sahakari Bank

    • Loan Amount: The maximum loan amount which can be extended under the personal loan scheme is Rs.2 lakh
    • Repayment Period: The personal loan offered under this scheme may vary from 3 to 5 years.
    • Interest Rate: Personal loans are currently offered at 16%. Customers should contact bank representatives for the details
    • Margin: The minimum margin for the personal loan scheme is 10%
    • Guarantors: For a personal loan amount of Rs.1 lakh, one guarantor has to be provided. For a loan amount of up to Rs.2 lakh, two guarantors have to be provided.
    • Security: Customers do not have to provide any security in most cases except for availing loans for buying two-wheelers or any type of consumer durable when they have to hypothecate the items they purchase.
    • Collaterals: The Kalyan Janata Sahakari Bank does not demand any collaterals on the personal loans extended. However, it may vary on a case-to-case basis.
    • Pre-payment charge: In case a personal loan is taken over by another institution or bank, 2% p.a will be charged as prepayment fees on the limit sanctioned
    • Processing charge: A customer has to incur 1% of his or her sanctioned loan limit as a processing charge
    • Subscription: The subscription of Kalyan Janata Sahakari Bank’s share is 5% of the limit sanctioned

    Documents required for Kalyan Janata Sahakari Bank Ltd personal loan

    The following documents may have to be submitted to avail of the personal loan scheme offered by Kalyan Janata Sahakari Bank Ltd
    • Residence Proof (ration card/telephone/electricity bill/driving licence)
    • Identity Proof (PAN cards/employer’s ID/voter ID)
    • Bank Statements
    • Balance Sheet (audited)/Profit and Loss account statement (three years)
    • Sanction letter of any existing loans
    • Valuation Report (valuer approved by government)
    • Society No Dues Certificate (if applicable)
    • Title Clearance (if applicable)
    • Sale Agreement
    • Possession Letter
    • NOC from Society
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