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! Shree Basaveshwar Co Operative Bank Ltd. 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.


  • Member of the Shree Basaveshwar Co-Operative Bank Ltd.
  • 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/Defense/Police Force/Public or Joint Sector Undertaking/reputed firms/established Educational Inst/Professional/Businessmen having regular income.

Purpose of Loan

  • Medical, emergency expenditure for maintenance of family.
  • Meeting any other genuine need as may be specified by the Borrower and agreed to by the Lender.

Budget of Finance

  • Depends on eligibility and Income Earning Capacity.

Repayment Details

  • By EMI
  • The maximum repayment period should not exceed 4 years

Other Features

  • No prepayment penalty
  • Insurance facility against Personal Accident (Death)
  • Flexible repayment schedule
  • Interest on a daily reducing balance basis.

Criteria for Loan Sactioning

  • Application in 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 two financially sound members having net individual worth twice the loan amount.
  • Any other marketable security.