Citizen's Co-operative Bank, Jammu

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Loan Schemes

Cash Credit Hypothecation Limit/Working Capital Limit

Purpose : For establishment of new business.

For expansion of existing business.

Eligibility : Proprietorship/Partnership concerns/ Private Limited Firms with sole Proprietor/Partners/Directors over 18 years of age engaged in Relevant business activities.

Loan Amount : Need based finance –Computed on the basis of prevalent policy of the Bank for assessment of credit requirement.

Margin : For Trading Activity - 40%
For Small Scale Industries - 25%

Interest Rate : Trade and Commerce:
(a) up to Rs.2.00Lacs

(1) Against Hypothecation of Stocks 14.00%

(II) Hyp. of stock and Mortgage of Property 13.50%

(b) Above Rs.2.00Lacs 14.00%

Small Scale Industries:

(a) up to Rs.2.00Lacs

(1) Against Hypothecation of Stocks 13.00%

(II) Hyp. of stock and Mortgage of Property 12.75%

(b) Above Rs.2.00Lacs 14.00%

Repayment Period: Cash Credit Limit shall be sanctioned for one year and shall be allowed to renewed further subject to performance of account as Per norms/policy of the Bank from time to time.

Security : Upto Rs.1.00 Lacs – Hypothecation of Stocks and third party
Guarantee of two persons having sufficient means.

Above Rs.1.00 Lacs – Hypothecation of Stocks collaterally secured by registered mortgage of property equal to 200% of the loan amount in loans to Traders and 100% of the loan amount to SSI units and third party guarantee of one Person up to Rs.5.00Lacs and two Persons above Rs.5.00Lacs.

Note: Only plots of approved colonies in the shape of open land shall be accepted for mortgage purposes in all loans.

Processing Fee : (i) upto Rs. 25000/- No charges
(ii) Above Rs.25000 upto Rs.2.00 Lakh Rs.200/-
(iii) Above Rs.2.00Lakh Rs.200/- + Rs.150.00 per Lakh
or part thereof subject to maximum of Rs.25000/-
Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Cash Credit Hypothecation Limit/Working Capital Limit( Click Here)

Transport Loans

Purpose:-For purchase of : Truck, Bus, Metador, Tractor, Taxi or other Commercial vehicles.

Eligibility : Individuals over 18 years of age.

Loan Amount:-

(i) 75% of the Invoice Bill of Chasis
50% of the cost of fabrication
(ii) 85% of the Invoice Bill of Chasis
50% of the cost of fabrication
Half percent excess interest shall be charged
(iii) 95% of the Invoice Bill of Chasis
50% of the cost of fabrication

subject to mortgage of property with half percent excess interest.

Margin : (i) For Chasis - 25%
For Fabrication - 50%
(ii) For Chasis - 15%
For Fabrication - 50%
(iii) For Chasis - 5%
For Fabrication - 50%

Interest Rate : (a) up to Rs.1.00Lacs 12.50%
(b) Above Rs.1.00Lacs upto Rs.5.00Lacs 14.00%
(c) Above Rs.5.00Lacs 15.00%

Loans where Mortgage of Property Offered : 0.75%

interest will be less charged

Transport for used Vehicles

(a) Upto Rs.5.00Lacs 16.00%

(b) Above Rs.5.00Lacs 16.50%

1. Fleet owner :For financing of vehicles numbering five and above shall be charged half percent less interest.
2. Self Driven vehicles by the borrower will be charged 0.25% less interest.

Note: Good pay masters who has not defaulted in repayment of even a single installment shall be allowed half percent interest rebate at the time of adjustment of loan account.

Repayment Period: Maximum 72 months in equated monthly installments.

Moratorium : Three months from the date of sanction or one month after the date of registration which ever is earlier.

Security : Hypothecation of Vehicle and third party guarantee of two Persons.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Transport Loans ( Click Here)

Housing Loan

Purpose : For Construction/Renovation/Addition & Alteration of Residential House/Flats

Eligibility : Individuals over 18 years of age subject to maximum of 65 years.

Loan Amount : 75% of the Estimated Cost for construction of new house.
Rs. 2.00 Lacs for renovation of house (Not to be insisted)
85% of the cost of flats.
Margin : 25%
: 15% for flats

Interest Rate :

(a)Upto Rs. 2.00 Lacs

(a) With repayment upto 10 Years -12.00%

(b) With repayment upto 15 Years -12.50%

(a)Above Rs. 2.00 Lacs

(a) With repayment upto 10 Years -12.50%

(b) With repayment upto 15 Years -13.00%

Repayment Period: Maximum 180 months in equated monthly instalments.

Moratorium : Maximum Six months from the date of sanction
(But interest charged during the period of moratorium be recovered from party.)

Security : Regd. Mortgage of property including construction erected over the plot and third party guarantee of one Person for loan upto Rs.5.00 lacs and two persons guarantee for loan above Rs.5.00 lacs.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Housing Loan (Click Here)

Clean Overdraft

Clean Overdraft: 18.00%

Consumer Loan

Purpose : For Purchase of Television, Refrigerator, Computer, Furniture and Other consumer items acceptable to the Bank and two wheelers.

Eligibility : Individuals over 18 years of ag.

Loan Amount : 75% of the Invoice Bill of Article subject to maximum of Rs.50000/-

Margin : 25%

Interest Rate : (a) up to Rs.0.50Lacs 12.50%

Note: Good pay masters who has not defaulted in repayment of even a single installment shall be allowed half percent interest rebate at the time of adjustment of loan account.

Repayment Period: Maximum 36 months in equated monthly installments.

Moratorium : Maximum one month from the date of sanction .

Security : Hypothecation of article purchased and third party guarantee of one Person having sufficient means to the extent of Rs.25000/- and above two guarantees.

In case of Govt.employee where Department has issued letter of undertaking one guarantee is required.

Processing Fee : (i) upto Rs. 25000/- No charges
(ii) Above Rs.25000 upto Rs.50000/- Rs.200/-

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Consumer Loan ( Click Here)

Consumer Credit Including

Two Wheelers : (a) up to Rs. 0.50Lacs

(b) Above Rs. 0.50Lac

Loans against Govt. securities

KVPs/ NSCs/IVPs/ LIC etc : (a) 12.75%

Car Loan

Purpose : For Purchase of new Car

Eligibility : a) Permanent employees of state/Central Govt., PSUs, Corporations,Private Sector Companies, Reputed establishments.
b) Professionals, self employed and others who are income tax assesses.

Loan Amount : Margin Interest Rate
75% of the Invoice Bill of Article. 25% 11%
85% of the Invoice Bill of Article 15% 11.50%
90% of the Invoice Bill of Article 10% 12%.

Interest Rate : (Repayment Period 60 Months)

Margin 25%

(a) up to Rs.1.00Lacs 11.00%

(b) Above Rs.1.00Lacs 13.00%

Margin 20%

(a) up to Rs.2.00Lacs 13.00%

(b) Above Rs.2.00Lacs 13.50%

Margin 10%

(a) up to Rs.2.00Lacs 13.00%

(b) Above Rs.2.00Lacs & upto Rs.4.00Lacs 14.00%

Note: Good pay masters who has not defaulted in repayment of even a single installment shall be allowed half percent interest rebate at the time of adjustment of loan account.

Repayment Period : Maximum 60 months in equated monthly instalments for loan upto Rs.3.00 lacs.

Maximum 84 months in equated monthly instalments for loan above Rs.3.00 lacs.

Moratorium : Maximum one month from the date of sanction.

Security : Hypothecation of Car and third party guarantee of one Person to employers of Govt. /Semi Govt./PSUS who there bye employer’s undertakings and for others two guarantees.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Car Loan (Click Here)

Personal Loan

Purpose : General Purpose Loan for individuals

Eligibility : a) Permanent employees of state/Central Govt., PSUs, Corporations, Private Sector Companies, Reputed establishments.
b) Professionals, self employed and others who are income tax assesses.

c) The employee who are about to retire or having less than two years of service are ineligible under the scheme.

Loan Amount : (i) Rs.50000.00.
(ii) Rs.1.00Lacs (where the employer agrees to deduct the amount of installment at source from the salary of the employer and remit to the bank with repayment period of 48 months)

Note: Good pay masters who has not defaulted in repayment of even a single installment shall be allowed half percent interest rebate at the time of adjustment of loan account.

Margin : NIL

Interest Rate :

(a) up to Rs.0.50 Lacs 16.00%

(b) Above Rs.0.50 Lacs 17.00%

Repayment Period : Maximum 48 months in equated monthly installments.

Moratorium : Maximum one month from the date of sanction.

Security : Third party guarantee of one Person.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Personal Loan ( Click Here)

Professional Loan

Purpose : General Purpose Loan for Professionals such as Doctors, Engineers, Advocates, Chartered Accountants, Architects etc. practicing in the Profession for establishment of their office for purchase of tools, books, furniture and fixture and Air conditioner for office use etc.

Eligibility : a) Advocates who have minimum of five years practice are eligible.
b) Professional must have Rs.1.00Lac per annum income to the minimum duly authenticated/certified by a Magistrate/Distt. Judge/Bar President/Secretary.

Loan Amount : Rs1.00Lac.

Note: Good pay masters who has not defaulted in repayment of even a single installment shall be allowed half percent interest rebate at the time of adjustment of loan account.

Margin : 25%

Interest Rate : 16.00% P.A.

Repayment Period : Maximum 48 months in equated monthly installments.

Moratorium : Maximum one month from the date of sanction.

Security : Hypothecation of items purchased and third party guarantee of one Person. In case of loans to Advocates one of the guarantor must be a senior lawyer under whom the said advocate is practicing or has practiced.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Real Estate: Construction of commercial complex

i.e., Banquet Hall, Educational Complex, Show room, Hospital, Nursing Homes etc.

(i) Upto Rs.25.00 Lacs 15.00%

(ii) Above Rs. 25.00 Lacs 16.00%

Check List for Professional Loan ( Click Here)

Loans to Weaker Section

Loans to Weaker Section/ SC/ BC/ST/WOMEN : 0.25% will be less charged.

Mortgage Loan

Mortgage Loan : (i) Team Loan 15.00%

(ii) Cash Credit Limit 16.00%

Adhoc Facilities

Adhoc Facilities ( Over & above the Sanctioned Limit) : (i) Up to period of 90 days 18.00%

(ii) Above 90 days 19.00%

Educational Loan

Purpose To extend financial assistance to be allowed for meeting following purposes to deserving/meritorious Students for pursuing higher education including Sports Education (recognised by Govt.of India) in India & abroad:-

Fee payable to the college/School/Hostel.
Admission/Tuition/Examination/Library/Laboratory fee.
Purchase of books/Stationery/Equipments/Uniforms.
Caution money deposit/building fund/refundable deposit supported by institution bills/receipts.
Travel Expenses/passage money for studies abroad.
Purchase of computer-essential for completion of course.
All other expenses required to complete the courses like study tours, project works, thesis, Hostel expenses etc.

Professional Courses in India:

Engineering, Medical, Agriculture, Veterinary, Law, Dental,
Management, Computer, ICWA, CA, CFA etc.
Courses conducted by IIM, IIT, IISC, XLRI
Courses offered in India by reputed foreign universities.
Other courses leading to diploma/degree etc. conducted by colleges/universities approved by UGC/Govt. /AICTE/ AIBMS /IICMR etc.
Courses offered by National Institutes and other reputed private Institutions.

Studies Abroad:

Graduation : For job oriented professional/technical courses offered by reputed universities.
Post Graduation : MCA, MBA, MS etc.
Courses conducted by CIMA-London, CPA in USA etc.
Courses conducted by recognised Universities and Sports Authority of India i.e. Diploma in Sports Medicine, Diploma in NIS, B.Ped.,M.Ped., C.Ped., Post Graduation and Ph.d in Sports Sciences in India and abroad, courses offered by Sports authority of India, Colleges, Universities.

Eligibility : Should be permanent resident of J&K.
Should have secured admission to professional/technical/|Sports course.
Should have secured admission to foreign university/institutions.

Employed persons intending to improve their educational/ Sports qualification and/or to receive training in modern technology in India or foreign countries can also be assisted under the scheme provided that the education/training received by them affords prospects of their better employment.

Loan Amount : Need based finance subject to repaying capacity of parents/students with margin subject to maximum amount of Rs.15.00 Lacs

Margin : 10%

Interest Rate : a) Up to Rs.2.00 Lacs 13.00%
b) Above Rs.2.00 Lacs 15.00%

Repayment period/Moratorium : Course period + one year or 6 months after getting job, whichever is earlier.
The loan to be repaid in 60 equated monthly instalments after commencement of repayment.

Security : Loan upto Rs.2.00 lacs third party guarantee of two persons and collateral security is not required.
Loan above Rs.2.00 lacs Collateral Security equal to 200% of the loan amount and third party guarantee of two persons including one parent/guardian.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Educational Loan ( Click Here)

Agriculture & Allied Activities Loan

Tractor Loan

Purpose : For purchase of Tractor, Trollies and implements for cultivation of farms and for job works.

Eligibility : Individuals over 18 years of age and must possess at least 32 Kanals of irrigated Land and 48 Kanals of agriculture land (non-irrigated) which shall be mortgaged with the Bank.

Loan Amount : 75% of the Invoice Bill of Tractor 50% of the cost of Trollies and implements.

Margin : For Tractor - 25%

For Trollies - 50%

Interest Rate : (a) up to Rs.1.00Lacs 11.00%
(b) Above Rs.1.00Lacs to Rs.5.00Lacs 12.00%
( c) Above Rs.5.00Lacs 12.75%

Note : 0.25% shall be charged less from persons having Driving Licence.

Repayment Period: Maximum 60 months (Half yearly basis).

Moratorium : Three months from the date of sanction or one month after the date of registration whichever is earlier.

Security : Hypothecation of Vehicle collaterally secured by mortgage of land and third party guarantee of two Persons.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Tractor Loan ( Click Here)

Poultry Loan/Diary Loan

Purpose : For construction of Poultry House – Brooder/Grower/Layer/Broiler House.
For purchase of Poultry Equipments.
For purchase of Chicks/Pullets/Broilers.

Working Capital requirement.

Eligibility : Proprietorship/Partnership concerns/ Private Limited Firms with sole Proprietor/Partners/Directors over 18 years of age engaged in relevant business activities.

Loan Amount : Need based finance –Computed on the basis of prevalent policy of the Bank for assessment of credit requirement.

Margin : Term Loan - 35%

Working Capital – 40%

Interest Rate :
(a) up to Rs.2.00Lacs 10.75%
(b) Above Rs.2.00Lacs 12.25%

Repayment Period: Cash Credit Limit shall be sanctioned for one year and shall be allowed to renewed further subject to performance of account as Per norms/policy of the Bank from time to time.

Term Loan for equipments - Maximum 60 months in equated monthly installments.

Term Loan for Construction – Maximum 72 months in equated monthly installments.

Security : Upto Rs.1.00 Lacs – Hypothecation of Live Stocks and third party Guarantee of two persons having sufficient means. Above Rs.1.00 Lacs – Hypothecation of Live Stocks collaterally secured by registered mortgage of property equal to 200% of the loan amount and third party guarantee of one Person up to Rs.5.00Lacs and two Persons above Rs.5.00Lacs.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Poultry Loan/Diary Loan

Term Loan (Productive Loan)

Purpose : For purchase of stocks, Machinery etc.

Eligibility : Proprietorship/Partnership concerns/ Private Limited Firms with sole Proprietor/Partners/Directors over 18 years of age engaged in Relevant business activities.

Loan Amount : Need based finance –Computed on the basis of prevalent policy of the Bank for assessment of credit requirement.

Margin : For purchase of stocks - 40%

For purchase of machinery - 25%

Interest Rate : Trade and Commerce:
(a) up to Rs.2.00Lacs 11.75%
(b) Above Rs.2.00Lacs 12.50%

Small Scale Industries:

(a) up to Rs.2.00Lacs 10.75%
(b) Above Rs.2.00Lacs 12.25%

Repayment Period: For purchase of stocks : Maximum 60 months in equated Monthly installments.
For purchase of machinery : Maximum 72 months in equated Monthly installments.

Security : Upto Rs.1.00 Lacs – Hypothecation of Stocks/machinery and third party guarantee of two persons having sufficient means. Above Rs.1.00 Lacs – Hypothecation of Stocks/machinery collaterally secured by registered mortgage of property equal to 200% of the loan amount in loans to Traders and 100% of the loan amount to SSI units and third party guarantee of one Person up to Rs.5.00Lacs and two Persons above Rs.5.00Lacs.

Pre-Payment : Permitted without penalty.

Linkage Shares : 2.5% of the advance made.

Check List for Term Loan (Productive Loan)


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