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Personal Loan

Financial crisis can be quite crushing for anybody at crucial moments of life. If only there was a reliable place to borrow money from, instead of neighbours or acquaintances. Now there is one institution! Janasamruddhi comes to your rescue when you need cash for expanding your business, giving your children the best education, making your daughter’s wedding the talk of town, taking that dream vacation with your loved ones, the latest gadget for your child, major surgical operation or any other social fiscal liability. Our Personal Loan Scheme has been designed just to meet such needs.

Eligibility :
  • Member of the Janasamruddhi Multipurpose Co-operative Society.
  • Holding either single account or joint account with other family members’ viz., father, mother, wife, son or daughter with regular source of income.
  • Individuals who may be employed/self-employed in business having regular income.
  • Permanent employee of Central/State/Defence//Public or Joint Sector Undertaking/reputed firms/established Educational Inst/Professional/Businessmen having regular income.
Purpose of Loan
  • Up-gradation, renovation and extension of residential property.
  • Medical, emergency expenditure for maintenance of family.
  • To meet the Wedding Expenditure.
  • Major Surgical operation.
  • For expansion of your existing business or begin a dream venture.
  • Meeting any other genuine need as may be specified by the Borrower and agreed to by the Lender.
  • Planning to start a small Business.
Quantum of Finance
  • As per eligibility and Income Earning Capacity.
Repayment Details
  • By EMI or Regular
  • The maximum repayment period should not exceed 1 year
Rate of Interest
  • 18.8% Reducing Balance
Processing Charges & Service Tax
  • 4%  Processing Fees and Other Charges (Inclusive) PLUS Service Tax  as applicable.
Other Attractive Features
  • No prepayment penalty
  • Insurance facility against Personal Accident (Death)
  • Flexible repayment schedule
  • Interest on a daily reducing balance basis.
Criteria for loan sanctioning
  • Photo Identity Proof:
    • – Pass port
    • – PAN card
    • – Voters Identity Card
    • – Driving License
  • Residence Proof:
    • – Telephone Bill
    • – Letter from any recognized Public Authority
    • – Electricity Bill
    • – Ration Card
    • – Letter from employer subject to satisfaction on Bank
    • – Properly Tax Book/Receipt
    • – Registered Lease Deed
  • Application on Prescribed form
    • Two photographs of Borrower and Guarantors
    • Address proof of Borrower and Guarantors (copy of Ration Card, Election card, Telephone bill, Driving License etc.)
    • Income proof, Copy of Income Tax Return, Financial Statement of the Firm, Sales Tax returns etc.
    • Profile of Guarantors.
    • Loan should be guaranteed by three financially sound Guarantors having net  individual worth twice the loan amount.
    • Any other marketable security.

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