Kalyan Janata Sahakari Bank Personal Loan Details

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The Customers can avail personal loan from Kalyan Janata Sahakari Bank Ltd for various reasons like purchase of electronics goods, two-wheelers & home appliances. It can be also use for repairing or renovating the house. This bank provides loan for every purpose in India. Individual can take loan from this bank to clear the old debts or for religious ceremonies or for medical reasons.

Loanbaba.com provides all the information about Kalyan Janata Sahakari Bank Personal Loan.

Eligibility criteria for availing the loan:

These people can avail the personal loan by the bank:

• Self employed people
• Salaried employees
• Professionals who have regular income
• Businessperson

Benefits and Features of the loan:

• Margin- The bank takes a minimum margin of 10% on personal loan.
• Guarantors- In case the personal loan amount is One lakh rupees then bank requires 1 guarantor and for two lakh rupees 2 guarantors.
• Collaterals- kalyan Janata Sahakari Bank does not require any security for personal loan but it differs from case to case.
• Interest Rate- Bank charges interest rate of 16% at present. For detail contact to bank representative.
• Amount of Loan- One can avail up to two lakh rupees as personal loan.
• Repayment Period- Customer gets three to five years to pay the loan amount.
• Security- Mostly bank doesn’t require security but if customer is taking loan for purchase of any type of consumer durable product or two-wheeler then they should assume the product they purchase.
• Pre-payment charge- If personal loan is taken over by another bank or institution then customer is charged 2% per annum in the form of prepayment on the sanctioned limit.
• Subscription- One can subscribe for Kalyan Janata Sahakari Bank’s share by paying 5% of the sanctioned limit.
• Processing charge- Bank charges 1% of approved loan limit in the form of processing fee.

Required Documents:

• Statements  of Bank
• Residence Proof (telephone bill/driving licence/ration card/electricity bill/)
• Sanction letter of existing loans if any
• Possession Letter
• Valuation Report (valour should be approved by the government)
• Title Clearance (in case applicable)
• Sale Agreement
• Identity Proof (employer’s ID /PAN cards/voter ID)
• NOC of Society
• Profit and Loss account statement (three years )/ audited Balance Sheet
• No Dues Certificate  from Society (in case applicable)

From 01 July, 2017 on all banking products and services a rate of 18 % (GST) is applicable.