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Varachha Co-Op Bank Personal Loan Details

Abhyudaya Bank 3.75 / 5.04 users

Varachha Co-Operative Bank Ltd offers loans to its customer to help in fulfilling the financial requirements like other banks in India. Customer can use the loan amount to meet number of expenses.

Loanbaba.com provides all the information about Varachha Co-Op Bank Personal Loan.

Below is some reason for which one takes loan:-

  • For medical treatment of the family members or oneself.
  • For educational expenses.
  • Social ceremonies of family members.
  • For renovating or repairing applicant’s house.

Below is given the Eligibility criteria for Personal Loan from Varachha Co Operative Bank Ltd:

In order to apply for the personal loan from the said bank one has to meet below mentioned criteria:-

Individual has to have current or saving account with the bank along with that he or she should be member of the bank.

Below are given some of the Features of Varachha Co Operative Bank Ltd Personal Loan:

  • Applicant can get maximum loan amount till 5 lakh but at the same time it is also depends on the repaying ability of the individual.
  • Individual get maximum of Sixty month of time to pay back the loan amount.
  • Bank requires two guarantors in order to give loan to the customer. Guarantor should own their house.
  • In case the applicant is an employee then he or she should provide the authority letter of salary deduction.
  • In order to avail the loan applicant should hold at least 2.50% of the loan amount in the form of shares in bank.

Below are the benefits of Varachha Co Operative Bank Ltd Personal Loan:

  • Repayment period is flexible
  • Customer service team is dedicated to customers.
  • Prepayment charges are NIL
  • Processing fee is low
  • Application procedure is easy
  • Less documentation

Interest Rate of Personal Loan from Varachha Co Operative Bank Ltd:

Bank charges interest rate of 14% per year on personal loan.

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

Disclaimer:Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Varachha Co-Op Bank.

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