A quick and simple loan, it is one easy step away from fulfilling your personal commitments. Meant for individuals having regular source of monthly income especially salaried persons, the employees under Public / Private / Corporate sector and those who receive regular rental income, this loan is provided against the personal surety or guarantee of individuals fulfilling the Bank norms.
Salaried Persons: Should be permanent employees of any organization with minimum service of 5 years having PF deduction and ESI facility / gratuity, etc.
For any personal need including consumption and household purposes such as purchase of computers, purchase of consumer durables, education of children, meeting medical expenses, etc.
Quantum of Loan
Salaried Persons: Up to a maximum of Rs. 5,00,000/- per individual borrower..
Others: Up to a maximum of Rs. 5,00,000/-.
Maximum period of 60 months or as per sanction terms and conditions in equated monthly installments.
Undertaking from the employer of the borrower for deducting Loan installments directly from salary/ terminal benefits.
PDCs on borrower’s salary account
Two acceptable guarantors / sureties
Pledge of savings certificates like NSE, Postal Savings Certificates or assignment of insurance policies
Lease agreement copies, Property documents, rental deposit/ advance paid receipts etc.
Salaried Employees: 3 months salary certificate or pay slips duly certified by the Company and a certificate stating that borrower is a permanent employee and providing the date of joining, designation, etc.
Others: Income Tax returns, proof of owning properties from which they are receiving regular income, lease agreements, municipal tax receipts, etc.
Steered by the motto of Safety, Profitability and Liquidity, we at Adarsh Cooperative Urban Bank are into our 15th year of operation and have emerged as the one of the foremost and fast growing Banks in the cooperative banking sector of Andhra Pradesh, commanding a good standing and reputation among customers and banking community.