JAGRUTI CO-OPERATIVE URBAN BANK LTD

Loan Schemes

• MSME(Industrial Loans)
• Road Transport Operators
• Retail Trade
• Small Business Enterprises
• Professional and Self Employed
• Housing Loans
• Educational Loans
• SHG(Self Help Groups)
• Mortgage Loans
• Personal Loans
• Gold Loans

MSME LOANS (INDUSTRIAL LOANS)

WORKING CAPITAL & TERM LOANS

Purpose:

• Manufacturing and Service Secotors
• Construction of Industrial Sheds

Eligibility:

• Persons who have engaged in Manufacturing and Service Sector Industries (Eg. Hospitals)

Margins:

• For purchase of Machinery and Equipments - 25 % (Depending upon the nature of equipment/ Machinery)
• For Electrical Equipment – 25% to 50%
• For Factory Shed and Building – 25% to 50%
• Security:
  • Prime Security:Hypothecation of Machinery,Raw materials and Finished Goods.
  • Collateral Security:EM of Properrty equalent to 200% of Loan Amount.

Rate Of Interest:

• 14%

Repayment:

• Term Loan :
  • 60 Months including moratorium Period.
  • 84 Months including moratorium Period.

ROAD TRANSPORT OPERATORS

Purpose:

• Purchase of New and old Vehicle for Taxies and Goods Transport Vehicles

Eligibility:

• Un-employed Youth, thouse who wants to start Travel Agenies and Goods Transport Operators.

Margins:

• For New Vehicles - 25 %
• For Old Vehicles 50%

Prime Security:

• Hypothecation of Vehicle to the Bank and Two Guarantors

Rate Of Interest:

• 18% p.a.

Repayment:

• Term Loan : 60 Months

Retail Trade

Purpose:

• For Starting a New Kirana & General Stores, Cloth Merchants etc and for Development of Existing Business

Eligibility:

• Persons Who wants to start a Retail Trade Business and Who wants to Improve His/her Existing Retail Shop

Margins:

• For Purchase of Stocks - 25 %
• Collateral Security:
  • EM of Properrty equalent to 200% of Loan Amount.
• Prime Security:
  • Hypothecation of Stocks in the Shop

Rate Of Interest:

• 18% p.a.

Repayment:

• Term Loan :
  • 60 Months including moratorium.

SMALL BUSINESS ENTERPRISES

Purpose:

• For Starting of Tiifin Centres,Vegetable Venders,Xerox Centres etc.

Eligibility:

• Persons engaged in service Sectors like Tiifin Centres,Vegetable Venders,Xerox Centres etc.

Margins:

• For Machinery /Equipments and Stocks- 25 %

Collateral Security:

• EM of Properrty equalent to 200% of Loan Amount.

Prime Security:

• Hypothecation of Stocks and Equipments in the Unit.

Rate Of Interest:

• 18% p.a.

Repayment:

• Term Loan:
  • 60 Months including moratorium.

PROFESSIONALS AND SELF EMPLOYED LOANS

Purpose:

• Construction of Hospital Buildings and Purchase of Equipments

Eligibility:

• Doctors,Chartered Accountants,IT and other Professinals

Margins:

• For Machinery and Equipments - 25 %
• For Electrical Equipment – 25% to 50%
• For Hospital Buildings – 25% to 50%

Collateral Security:

• EM of Properrty equalent to 200% of Loan Amount.

Prime Security:

• Hypothecation of Stocks and Equipments.

Rate Of Interest:

• 18% p.a.

Repayment:

• Term Loan:
  • 60 Months including moratorium.

HOUSING LOANS

Purpose:

• For Purchase / Construction of House /Flat OR Repairs / Renovations of House / Flat.
• For Purchase of Open plot for House Construction

Eligibility:

• All individuals are eligible including women borrowers.
• Applicant should have regular income either by way of salary / business / professional income / other income (Rents etc …) and should be an IT Assese.

Margin:

• 25% of sale consideration / prevailing cost of construction per SFT / Cost of construction as per Engineer’s Estimate.
• 50% of estimated cost of repairs / renovation.

Prime Security:

• EM of Dwelling unit House/Flat

Rate Of Interest:

• 18% p.a.

Repayment:

• Term Loan:
  • 60 Months including moratorium.

EDUCATIONAL LOANS

Purpose:

• Educational Loans for deserving/meritorious students for pursuing higher studies in India / Abroad.

Eligibility:

• Indian Nationals within the area of operation of the Bank.

Quantum of Loan:

• For Studies in India : Max. Rs.10.00 Lakhs
• For Studies Abroad : Max. Rs.20.00 Lakhs

Security :

• Primary : Minimum 200% of the loan amount for the loans above Rs. 0.25 Lacs.
• Collateral : Personal guarantee of Parent(s); Third Party; Owner of the Property

Repayment Period:

• Term Loan:
  • Maximum of 60 months excluding moratorium period.

Repayment Mode:

• PDC’s issued/standing instructions to debit their savings account with us, by the parent of the applicant or Third Party.

Courses covered:

• In India – Professional Graduate/Post Graduate Courses Offered by prestigious/reputed institutions or any other courses as per the discretion of the bank.
• Abroad – Graduate/Post Graduate Courses offered by Foreign Universities.

SHG LOANS ( Self Help Groups)

Purpose:

• To improve their Business and Standard of Living in the society.

Eligibility:

• A Group of Woman consisting of 5-10 people, who are in under- privileged sections of the society to bring them to Banking fold and provide assistance for their financial and social betterment. Like Daily Wage earners, Petty Traders, Vegetable Vendors,Tailors etc.

Facility:

• Term Loan

Guantum of Loan:

• Rs.25,000/- per member

Margins:

• NIL

Rate Of Interest:

• 18% p.a.

Collateral Security

• NIL Clean Loan.

Repayment:

• Term Loan:
  • 24 Months including moratorium.

MORTGAGE LOANS(for any purpose)

Purpose:

• For Business Development
• Loans against Rent receivable
• Other purposes.

Eligibility:

• Individuals / Proprietary / Partnership Firms are eligible under the scheme.
• Quantum of Loan: Maximum Rs.38.00 lacs per person
                                    Rs.67 lacs group for the financial year 2022-23

Security:

• Primary :
  • Residential/Commercial Immovable property other than agriculture land.
  • Future rent receivables.
• Collateral : The Value of the Collateral Security Should be 200% of Loan Amount.
  • Personal Guarantee of third party and / or owners of properties offered as security

Margin:

• 200% of loan Amount

Rate Of Interest:

• 14% p.a

Repayment Period:

• Overdraft Limit 12 months
• Term Loan maximum 84 Months.

Personal Loans

Purpose:

• To meet the personal expenses

Eligibility:

• Individuals or a Group of individuals who are working in a private and Govt Institutions.
• Quantum of loan: Minimum Rs.25,000 - Maximum RS.2,00,000/-

Rate Of Interest:

• 18% p.a.

Repayment:

• Term Loan :
• 24 Months including moratorium.

GOLD LOANS

Jagruti Bank Gold Loans

• Duration of the Scheme – 12 Months (bullet repayment)
• Rate of Interest – 11% p.a.
• Rate per Gram – Is applicable from time to time.
• Maximum Amount Rs. 2.00 Lacs per borrower
• Above Rs.2.00 lacs loan NO bullet payment EMI should be paid for 12 months.

Gold Valution Method

• Gold Offered as security will have to be valued on last 30 days average price of 22 Carat Gold.
• Loan to Value Ratio (LTV) should not exceed 75% of the value of the Gold Jewellery pledged.
• The value of the Gold / Jewellery pledged is calculated based on the average value of 22 Caret Gold for the last 30 days.

Interest Rates on Advances wef 15/11/2022