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(1) LOANS AGAINST GOLD ORNAMENTS/JEWELLERY
i) Beneficiaries
Any individual residing in the area of opertion of the concerned Central Coop. Bank after enrolling as Associate Member.ii) Purpose of loan
The loan under this scheme shall be available for meeting the expenses of social obligations such as Marriage/ceremonies/Housing/ Educational and Health care.iii) Eligibility
Rs.40,000/- or 60% of the current market value, whichever is less.iv) The operation of the scheme shall be restricted to the branches of CCBs.
v) Appraisal and Valuation
The Gold ornaments/Jewellery shall be appraised and valued by an Appraiser/Valuer approved by the CCBs.vi) Security and Safe Custody
The jewellery shall be kept in sealed Book(s)/Packet(s) bearing the signatures/thumb impression of borrower, appraiser/valuer and cashier and Branch Manager of the Bank.vii) Rate of Interest
The interest @ 16% p.a. shall be charged. In the event of default or infringement of any term and condition of loans penal interest @ 3% p.a. over and above the normal shall be charged.viii) Repayment period
ix) Document
Repayable within a period of three years in quarterly equated instalments.
The CCBs will obtain the requisite documents such as Agreement-deed, Demand & Time Promissory Notes, Letter of continuity, Pledge-deed and authority to dispose of the gold ornaments/jewellery in the event of default.
(2) SCHEME FOR PURCHASE OF CONSUMER DURABLE
i)
Beneficiary
Any individual residing in the area of operation of the concerned Central
Coop.Bank after enrolling as associate member of the Bank.
ii) Purpose of loan
The purchase of a brand new consumer durable.
iii) Eligibility
Rs.50,000/- or 75% of the invoice price of the articles whichever is less.
iv) Operation of the scheme
The scheme shall be implemented by the CCBs through their H.O. and Branches as
well.
v) Disbursement of loan
The borrower shall furnish original invoice from the authorised dealer and
shall also deposit the margin money with the bank. The bank shall make
payment of the entire loan directly to the authorised dealer/supplier.
vi) Security
The article(s) purchased shall be hypothecated to the bank and insured
comprehensively with a bank clause. The bank shall obtain personal sureties of
two persons.
vii) Rate of interest
The interest @ 16% p.a. shall be charged subject to change in pursuance to the
Directive on interest rates on advances by RBI/NABARD. In the event of default,
penal interest @ 3% p.a. shall be charged.
viii) Repayment period
The loan shall be repayable within a period of three years in 36 monthly
equated instalments. Regarding the recovery from professionals and income tax
payees, the bank will insist upon to open deposit accounts and maintain
sufficient balances with them. The bank shall obtain post-dated cheques from
all the borrowers.
(3) CASH CREDIT FACILITY TO BUSINESSMEN/TRADERS
AGAINST COLLATERAL
OR HYPOTHECATION OF STOCK
IN TRADE
i)
Beneficiary
Any individual, proprietory/partnership concern/Company etc. residing/operating
in the area of operation of the bank and engaged in the procurement, stocking,
sale, distribution and marketing of goods and commodities after enrolling as
associate member.
ii) Purpose of loan
The purchasing, stocking and marketing of goods and commodities and meeting
out other business related expenses.
iii) Eligibility
The cash credit limit upto Rs.5.00 lacs or 40% of the annual business turnover
whichever is less with a margin of 40%.
iv) Valuation of stocks.
The stocks hypothecated to the bank shall be valued on the basis of their book
value or market value whichever in loss.
v) Operative period.
The limit shall be initially sanctioned for a period of one year which shall be
renewable on the basis of its financial discipline and past performance.
vi) Drawing power
The operations on the limit shall be allowed upto the level of 60% of the value
of stocks hypothecated to the bank.
vii) Security
The bank should obtain tengible security equal to 1-1/2 time of the amount of
cash credit limit sanctioned.
viii) Rate of interest.
The interest @ 16% p.a. shall be charged which is subject to change in pursuance
to Directives on Interest Rates on advances by RBI/NABARD. In the event of
default. The penal interest @ 3% p.a. over and above the normal shall be
charged for the amount and period during which the default subsists. The
interest shall be calculated on daidy balances and will be recovered at
quarterly intervals.
ix) Stock statement and
physical verification.
The borrower shall furnish monthly stock statements and conduct physical
verification of the stock.
x) Documentation
Hypothecation-deed, Letter of Acceptance, Letter of Continuity, Demand and Time
Promissory Notes, Mortgage-deed of tengible security, Insurance cover/policy
etc.
i) Beneficiary
Parents of the student pursuing professional degree courses in a recognised educational institution who are residents of the area of operation of the concerned CCB, shall beeligible to borrow loan under this scheme after enrolling themselves as associate member of the bank.ii) Purpose of loan
The loan shall be utilized for meeting out the expenses on books, admission and monthly fees, hostel expenditure and other educational related expenses.iii) Eligibility
Parents of such students shall be eligible to borrow loan upto Rs.1.00 lac. The student shall also give their consent and an undertaking to repay this loan.iv) Disbursement of loan
The disbursement of loan shall be made in the following manner:-The disbursement of loan shall be made in instalments annually/semester-wise. This payment will be released directly to the College/Institution.
v) Security
The loan shall be secured by personal sureties of two persons who have means double to the amount of loanvi) Rate of interest
The interest @ 13% p.a. shall be charged which shall be subject to change in pursuance to the Directives on Interest rates on advances by RBI/NABARD. In case of female students the rate of interest shall be 12% p.a.. In the event of default a penal interest @ 3% p.a., over and above the normal shall be charged.vii) Repayment period
viii) Documentation
It shall be recovered in equated suitable instalments comprising the principal and interest accrued thereon.
Agreement-deed, Demand and Time Promissory Notes, Letter of continuity/Acceptance and an undertaking from the student.
(5) LOANS TO THE INDIVIDUALS FOR PURCHASE OF
AUTO-RICKSHAW, TAXI-CARS,
MOTOR-BUSES,
LIGHT COMMERCIAL VEHICLES,
LORRIES (WITHIN
THE MEANINGOF "SMALL TRANSPORT
OPERATORS).
i)
Beneficiary
Individuals, proprietory/partnership firms/Companies and other Corporate bodies
shall be eligible to borrow after enrolling as associate members.
ii) Eligibility
The borrower shall be eligible to raise a loan upto Rs.5.00 lacs or 75% of the
invoice price of the vehicle including the cost of chassis, body building
expenses, initial taxes and insurance etc. whichever is less. This loan shall
be available for the purchase of one vehicle per borrower.
iii) Purpose of loan/use of
vehicle
Such vehicle should be registered with R.T.A. as ‘Public/Private Carrier’ for
carrying passengers/goods.
iv) Promoters contribution
The loan to the extent of 75% of the invoice price of the vehicle including cost
of chassis, body building expenses, initial taxes, incurance etc. shall be
provided by the concerned CCB and remaining 25% shall be contributed by the
borrower.
v) Security and Insurance
a)
The vehicle shall be hypothecated in favour of the financing bank.
b) The vehicle shall be comprehensively insured for the full value
covering all risks and the policy may either be in the joint names of the
borrower and the bank or assigned in favour of the letter. The vehicle shall be
adequately insured at all times without any break.
c) Tengible security
- Loan upto
Rs.25000/- will be advanced against two personal sureties
- Loan from Rs.25000/- to Rs.50000/- shall be advanced against two personal
sureties alongwith the tengible security equal to 50% of the loan amount.
- Loan from Rs.50,000/- to Rs.1,00,000/- shall be advanced against two personal
sureties alongwith the tengible security equal to the loan amount.
- Loan over Rs.1,00,000/- shall be advanced against two personal sureties
alongwith the tengible security of 1-1/2 times of the loan amount
vi) Other Safeguard
a) The
disbursement of loan will be made directly to the supplier/dealer of the chassis
to ensure the use of loan.
b) The vehicle should be inspected periodically by the financing bank.
vii) Rate of interest
The interest @ 17% p.a. shall be charged which will be subject to change in
pursuance to Directive on Interest rates on advances by RBI/NABARD from time to
time. A penal interest @ 3% p.a. over and above this normal rate shall be
charged in case of default.
viii) Repayment period
The loan shall be repayable with five years with a moratorium period of six
months in 54 equated monthly installments. The interest of the intervening
period shall be paid alongwith the first installment. The installments shall
be paid upto the 10th of the following month to which the installments relates.
ix) Documentation
Agreement-deed, Hypothecated-deed, Insurance policy, Demand and Time Promissory
Notes, Letter of continuity, Letter of acceptance and Mortgage-deed of tangible
security etc.
(6) TEMPORARY OVERDRAFT FACILITY TO INDIVIDUALS
ON THE
BASIS OF
CREDIT REPORT/COLLATERAL ETC.
i)
Beneficiary
Individuals, proprietory/partnership firms, companies and other Corporate
bodies maintaining current/ S.B. a/c with CCBs/SCB shall be eligible after
enrolling themselves as associate member.
ii) Eligibility
A depositor having his deposit A/c with the Bank for the last three years shall
be eligible to avail overdraft facility upto Rs.One lacs on the basis of
credit report/collateral security whichever is less.
iii) Rate of interest
The interest @ 16% p.a. shall be charged which is subject to change in pursuance
to Directives on Interest Rates on Advances by RBI/NABARD. In the event of
default penal interest @ 3% p.a. shall be charged.
iv) Period
The duration of overdraft shall not exceed three months.
v) Documentation
The depositor shall be required to furnish Demand and Time Promissory Notes,
Agreement Bond and two good securities .
(7) ADVANCES AGAINST NATIONAL SAVINGS
CERTIFICATE
(MINIMUM
MARGIN 25%)
i) Beneficiary
Any individual holder of the National Savings Certificates will be entitled to raise loan from Central/State Coop.Banks against the pledge of National Savings Certificates after enrolling himself as associate member of these banks.
ii) Eligibility
The holder shall be eligible to raise loan upto 75% of the value of the
certificate or Rs.1.00 lac whichever is less.
iii) Rate of interest.
Interest @ 16% p.a. from public and 13% p.a. from staff members of the banks
shall be charged which is subject to change in pursuance to Directives on
interest rates on advances of RBI/NABARD from time to time. The interest shall
be charged quarterly.
iv) Security
When any certificate is transferred as security, the Post Master of office of
registration shall make the following endorsement on the certificate:-
“Transferred as security to Central Coop.Banks/State Coop.Banks Ltd”.
v) Recovery of loan
The recovery of loan will be after the due date of loan or by forfeiting the
N.S.Cs.on maturity.
(8). ENTERPRISE LOAN SCHEME
Under this scheme loan is available upto an amount of Rs.20.00 lacs to an individual artisan, small entrepreneurs, proprietary/partnership concerns, companies and other corporate bodies for undertaking any eligible production activities connected with small/tiny/cottage and village industries. Loan cases above Rs.20.00 lacs shall be submitted to NABARD/Harco Bank under the pre-sanction procedure.
Terms of Finance under the above schemes are as under:-
i) Rate of interest
Rate of interest is fixed by NABARD/RBI from time to time. The current rate is
13% to 15%.
Note: These rates of interest may vary from CCB to CCB.
ii) Security
a) 1 ½ time
of loan amount including assets created out of loan.
b) Mortgage of land, building, plant & other fixed assets created out loan, both
present & future
c) Hypothecation of other machinery and raw material.
d) In the absence of adequate collateral security by principal debtor, 3rd party
security by way of mortgage to be accepted.
iii) Repayment schedule:
Repayment schedule for each loan shall depend upon the nature of activity and
cash flow to be generated by the loan. Maximum period varies from 3 to 7
years.
iv) Insurance:
Comprehensive insurance with Bank clause on all assets pledged/mortgaged or
hypothecated to the Bank.
v) Technical Guidance:
Loan proposals should be routed through DIC (District Industries Centre) for
technical feasibility and their recommendations.
vi) Margins:
Entrepreneurs are expected to contribute margins as under:-
a) Upto
Rs.25,000/- Nil
b) Over Rs.25,000/- to Rs.2.00 lacs 15% to 25%
c) Over Rs.2.00 lacs 15% to 25%
(vii) Documentation:
i) Agreement Deed
ii) Receipt of loan
iii) Hypothecation Deed
iv) Pledge Deed
v) Mortgage Deed
vi) Demand Promissory Note
vii) Time Promissory Note for loan in accordance with the repayment schedule
fixed by the Bank
viii) Letter of Acceptance accepting the terms and conditions of the sanction
ix) Utilization certificate
x) Consent letter to the effect that borrower has no objection to furnishing to
NABARD/HARCOBANK/RCS all such information as may be required by them from time
to time.
Under this scheme, the loan is available upto an aggregate amount of Rs.20.00 lacs without any project outlay to an individual artisan, small entrepreneurs, proprietary/partnership concerns, companies and other corporate bodies for undertaking any eligible production activity connected with small/tiny/cottage and village industries, covered under the 22 broad group of industries.Terms of Finance under the above schemes are as under:-
Rate of interest is fixed by NABARD/RBI from time to time.
The current rate is 13% to 15%.
Note: These rates of interest may vary from CCB to CCB.
i) Securitya) 1 ½ time of loan amount including assets created out of loan.
b) Mortgage of land, building, plant & other fixed assets created out loan, both present & future
c) Hypothecation of other machinery and raw material.
d) In the absence of adequate collateral security by principal debtor, 3rd party security by way of mortgage to be accepted.
ii) Repayment schedule:
Repayment schedule for each loan shall depend upon the nature of activity and cash flow to be generated by the loan. Maximum period varies from 3 to 7 years.iii) Insurance:
Comprehensive insurance with Bank clause on all assets pledged/mortgaged or hypothecated to the Bank.iv) Technical Guidance:
Loan proposals should be routed through DIC (District Industries Centre) for technical feasibility and their recommendations.v) Margins:
Entrepreneurs are expected to contribute margin @ 15% to 25%.vi) Documentation:
ii) Agreement Deed
iii) Receipt of loan
iv) Hypothecation Deed
v) Pledge Deed.
vi) Mortgage Deed.
vii) Demand Promissory Note.
viii) Time Promissory Note for loan in accordance with the repayment schedule fixed by the Bank.
ix) Letter of Acceptance accepting the terms and conditions of the sanction.
x) Utilization certificate.
xi) Consent letter to the effect that borrower has no objection to furnishing to NABARD/ HARCOBANK/RCS all such information as may be required by them from time to time.
(10) FARM SECTOR ACTIVITIES
Our Central Coop.Banks in the Haryana State are also financing under the Farm Sector activities like Dairy Farming, Poultry and Piggery etc. CCBs are sanctioning the loans upto Rs.20.00 lacs at their own level. And loan above Rs.20.00 lacs are sanctioned/approved by the NABARD/Harcobank, Chandigarh. Rate of interest, security documentation, repayment of loan and other terms and conditions are similar to the Enterprise Loan Scheme.
Terms of Finance under the above schemes are as under:-
Rate of interest
Rate of Interest is fixed by NABARD/RBI from time to time. The current rate is
13% to 15%.
Note: These rates of interest may vary from CCB to CCB.
i) Security
a) 1 ½ time
of loan amount including assets created out of loan.
b) Mortgage of land, building, plant & other fixed assets created out loan, both
present & future
e) Hypothecation of other machinery and raw material.
f) In the absence of adequate collateral security by principal debtor, 3rd
party security by way of mortgage to be accepted.
ii) Repayment schedule:
Repayment schedule for each loan shall depend upon the nature of activity and
cash flow to be generated by the loan. Maximum period varies from 3 to 7
years.
iii) Insurance:
Comprehensive insurance with Bank clause on all assets pledged/mortgaged or
hypothecated to the Bank.
iv) Technical Guidance:
Loan proposals should be routed through DIC (District Industries Centre) for
technical feasibility and their recommendations.
v) Margins:
Entrepreneurs are expected to contribute margin @ 15% to 25%.
vi)Documentation:
i)
Agreement Deed
ii) Receipt of loan
iii) Hypothecation Deed
iv) Pledge Deed
v) Mortgage Deed
vi) Demand Promissory Note
vii) Time Promissory Note for loan in accordance with the repayment schedule
fixed by the Bank
viii) Letter of Acceptance accepting the terms and conditions of the sanction
ix) Utilization certificate.
x) Consent letter to the effect that borrower has no objection to furnishing to
NABARD/ HARCOBANK/RCS all such information as may be required by them from time
to time.
(11) SMALL ROAD WATER &
TRANSPORT OPERATORS SCHEME
(S.R.W.T.O SCHEME)
Under this scheme loan is available for purchase of passenger vehicles, Milk tankers, Oil tanker water transport units, such as boats, launches, small refrigerator vans and bulk carriers for carrying petroleum, edible oil:Under this scheme the ceiling of total vehicle weight of 16.2 tonnes has been removed.
Terms & conditions:-
i). Rate of interest:
Upto
Rs.2.00 lacs 12%
Above Rs.2.00 lacs 13%
ii).
Security
1 ½ time of loan amount.
The vehicle should be registered as ‘Public goods/passenger carrier’ with
Regional Transport Authority.
iii). Repayment schedule:
The repayment period of loan is five years.
iv). Insurance:
Comprehensive insurance or hypothecation with bank.
v). Margin:
15% of the cost of vehicle.
vi). Eligibility:
85% of the cost of vehicle for two vehicles.
(12). ADVANCES UNDER NFF
