The Nawanshahr Central Cooperative Bank Ltd.


An ISO 9001:2008 Bank H.O.:-01823-220034,509226,509227 Fax:220566 IFSC Code:-UTIB0SNWS01 .... 1st, 3rd and 5th Saturday of Month Full Working Day... 2nd and 4th of Month's Saturday Off ....ATM Services Available.......



Short Term Agriculture Loans (Crop Loan)

Beneficiary

Farmers

Purpose

Production of Crops

Loan Limit

As per Land Holding and Scale of finance.

Rate of Interest

5.00%

Margin

Nor margin money required

Repayment Period

Half Yearly linked with Harvesting

Collateral Security

Nil.


Medium Term Agriculture Loan

Beneficiary

Farmers

 

Purpose

Investment credit for installation of pump set, purchase of Agriculture implements, Land reclamation, Construction of bunds, Poultry, Piggery, Purchase of Milch Cattle, Gobar Gas Plant.

 

Rate of Interest

13.50%

 

Margin

As per scheme

 

Repayment Period

Five Years

 

Collateral Security

As per sheme.

 

 

 

 


Revolving Crash Credit to Famers(RCC)

Beneficiary

Any individual farmer holding the agricultural land.

 

Purpose

Credit facility for meeting out socio-economic needs

 

Loan Limit

Maximum amount Rs 15.00 lakhs subject to Rs. 1.50 per acre.

 

Rate of Interest

11.50%

 

Margin

No Margin required.

 

Repayment Period

Renewable on annual basis.

 

Collateral Security

Agriculture Land valuing at 150% of the Loan amount.

 

 

 

 


Mini Diary Scheme

Beneficiary

Members of Coop. Milk Producers Society/ PACS.

 

Purpose

Purchase of up to 10 milch cattle.

 

Loan Limit

Maximum amount up to Rs. 5.00 Lakhs , Rs. 0.50 lakh per animal

 

Rate of Interest

10.25%

 

Margin

15%

 

Repayment Period

Maximum 5 Years.

 

Collateral Security

Mortgage of landed property value of 150% of the loan amount

 

 

 

 


Commercial Diary Development Scheme

Beneficiary

Any Individual, Partnership Firm, Corporate body and any other Cooperative organization.

 

Purpose

To increase the income of milk producers by helping them to purchase High yielding cattle and purchase of equipments

 

Loan Amount

Maximum amount up to Rs. 50.00  Lakhs.

 

Rate of Interest

10.25%

 

Margin

15%

 

Repayment Period

Maximum 5 Years.

 

Collateral Security

Mortgage of landed property value of 150%of the loan amount.

 


Non Farm Sector Loan Scheme (NFS)

Beneficiary

Individual, Sole Prop., Firm, Coop. Societies or a Company

 

Purpose

For the establishment of cottage, tiny and SSI Unit.

 

Loan Limit

Maximum amount up to Rs. 25.00 lakhs at CCB Level.

 

Rate  of Interest

Up to Rs. 0.50 Lakhs 12.00%
Above Rs. 0.50 Lakhs 12.50%

 

Margin

Minimum 10%

 

Repayment Period

Maximum 5 to 7 Years

 

Collateral Security

Immovable Properties for the value of 150% of the amount.

 

 

 

 


Rural Housing Scheme

Beneficiary

Individual and Members of  Coop. Housing  Societies.

 

Purpose

Purchase of built up house, construction of new house, repairs/Renovation and addition of existing house in rural house

 

Loan Limit

Maximum amount up-to Rs. 15.00 lakhs.

 

Rate of Interest

11%

 

Repayment  Period

Maximum 5 years

 

Collateral Security

Agricultural Land for the value of the 100% of the loan amount besides the Mortgage of house to be financed by the bank.

 

 

 

 


Urban Housing Scheme

Beneficiary

Individual and Members of Coop. Housing Societies

 

Purpose

Purchase of built up house or flat, construction of new house, repairs/renovation and addition of existing house in urban house.

 

Loan Limit

Maximum amount up to Rs 25.00 lakhs.

 

Rate of Interest

11%

 

Margin

25%

 

Repayment Period

Maximum 15 years.

 

Collateral Security

First mortgage of House Property to be financed by the bank.

 

 

 

 


Personal Loan Scheme

Beneficiary

Employees of Punjab Govt., PSU, Boards, Corporations etc.

 

Purpose

Credit Facility for meeting out socio-economic needs.

 

Loan Limit

15 times of gross monthly salary or Rs. 4.00 lakh, whichever is less

 

Rate of Interest

14%

 

Repayment Period

Maximum 7 years.

 

Collateral Security

Two Good Sureties as per satisfaction of the bank

 

 

 

 


Vehicle Loan Scheme

Beneficiary

Individual, Firm, HUF, Trust, Coop. Societies or a Company

 

Purpose

For the purchase of new vehicle for business and personal use.

 

Loan Limit

Maximum amount up-to Rs 15.00 Lakh or 80% of cost of vehicle.

 

Rate of Intt.

12%

 

Repayment Period

Maximum 5 years.

 

Collateral Security

Two Good Securities as per satisfaction of the bank besides the hypothecation of the vehicle.

 


Second hand Vehicle Loan Scheme

Beneficiary

Individual, Sole Prop., Professional and Partnership Firm.

 

Purpose

For the purchase of second hand vehicle should be not more than  4 years

 

Loan Limit

Maximum amount up to  Rs. 5.00 lakh or 75%of cost of vehicle.

 

Rate of Intt.

12.50%

 

Repayment Period

Maximum 5 years

 

Collateral Security

Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle.

 

 

 

 


Consumer Durable Loan

Beneficiary

Credit Facility for meeting out socio-economic needs.

 

Purpose

For the establishment of cottage, tiny and SSI unit.

 

Loan Limit

10 times of gross monthly salary or Rs. 2.00 lakh, whichever is less

 

Rate of Intt.

14%

 

Repayment Period

Maximum 5 years or Upto Service retirement

 

Collateral Security

Two Good Sureties as per satisfaction of the bank.

 

 

 

 


Two Wheeler Loan to Farmers

Beneficiary

An agriculturist having land in his own name or his family member.

 

Purpose

For the purchase of new two wheelers.

 

Loan Limit

Maximum amount up to Rs. 0.50 Lakh.

 

Rate of Intt.

12%

 

Repayment Period

Maximum 5 years.

 

Collateral Security

Two Good Sureties as per satisfaction of the bank.

 

 

 

 


Cash Credit Facility to Traders

Beneficiary

Individual, Sole Prop., Firm, Coop. Societies or a Company.

 

Purpose

For the meeting working capital requirement of business.

 

Loan Limit

25 Lakhs

 

Rate of Intt.

14%

 

Repayment Period

Renewable on annual basis.

 

Collateral Security

Immovable Properties for the value of 150% of the amount.

 

 

 

 


Education Loan

Beneficiary

Salaried employees of Coop. banks, Punjab Govt./Chandigarh Administration and its boards and corporations.

 

Purpose

To provide financial assistance to deserving and meritorious student for pursuing higher studies in India or abroad.

 

Loan Limit

Maximum amount up to Rs 15.00 Lakh.

 

Rate of Interest

11%

 

Margin

Nor margin required.

 

Repayment Period

The installment will start after completion of course. Maximum 5 years.

 

Collateral Security

Mortgage of landed property value of 150%  of the loan amount. For the loan up to Rs. 5.00 lakh, no immovable security is required. If the loanee is the employee of Punjab Govt. or Coop. Dept.

 


Cooperative Education Loan Scheme children of poor farmers, Dalits,  BC etc.

Beneficiary

Children of poor farmers, Dalits, BC and other poor section

 

Purpose

To provide financial assistance  for deserving and meritorious students for pursuing higher studies in India or abroad.

 

Loan Limit

Maximum amount up to Rs. 10.00 lakhs.

 

Rate of Interest

7.25%

 

Margin

No Margin Required.

 

Repayment Period

The installment will start after completion of course. Maximum 5years.

 

Collateral Security

Mortgage of landed property value of 100% of the loan amount.

 

 

 

 


Loan Against Property
NOTE: Temporarily Scheme Withdrawn and will update soon

Beneficiary

Any Individual

 

Purpose

To offer instant solutions relating to socio-economic needs and business needs such as children’s higher education, Travel, daughter’s marriage and medical emergencies etc.

 

Loan Limit

Maximum amount up to Rs. 25.00 lakhs.

 

Rate of interest

14%

 

Margin

No Margin required

 

Repayment Period

Maximum 6 years.

 

Collateral Period

Maximum 6 years.

 

 

 

 


Loan against Rental Income Scheme

Beneficiary

Owners of the Property who have let out or proposed to be let out the same to reputed company.

 

Purpose

For meeting business/personal needs.

 

Loan Limit

Maximum to the extent of 75% of post TDS Rent Receivable for a period. Not exceeding 120 months or un expired period of lease.

 

Rate of Interest

13%

 

Repayment Period

Maximum 10 years.

 

Collateral Security

Mortgage  of landed property value of 150% of the loan amount.

 

 

 

 


Loan scheme for Earnest Money

Beneficiary

Any Individual

 

Purpose

To meet the financial requirement towards earnest money deposit to book residential plot/built house or flat by Govt. Approved Agency.

 

Loan Limit

As per scheme of the Agency.

 

Rate of Interest

As fixed by the bank.

 

Margin

No margin money required.

 

Repayment Period

On Receipt of Refund from Housing Board.

 

Collateral Security

No immovable Security is required. Only two post dated cheque req.

 

 

 

 


Mai Bhago Istri Shakti Scheme

Beneficiary

Any women beneficiaries’ member of the PACS

 

Purpose

To establish the micro or small business in rural areas.

 

Loan Limit

Rs. 25,000 through PACS.

 

Rate of Interest

PACS to members 9.50% CCB to PACS 7.50%.

 

Margin

No margin required.

 

Repayment Period

Maximum 5 years.

 

Collateral Security

One good Surety having landed property.

 

 

 

 


Credit for Setting up  of Net House

Beneficiary

Any Individual farmer holding the agriculture land.

 

Purpose

To grow the seasonal vegetables.

 

Loan Limit

Maximum amount Rs. 90000.

 

Rate of Interest

upt .50 lakhs 12% and above it 12.50%

 

Repayment Period

Maximum 5years

 

Collateral Security

No collateral security required. Only sureties required.

 

 

 

 


Credit for Setting up of Agricultural Service Centre

Beneficiary

Any individual farmer holding the agriculture land.

 

Purpose

To purchase the agriculture implements.

 

Loan Limit

Maximum amount Rs.10 lakhs

 

Rate of Interest

11.25%

 

Repayment Period

Maximum 5 years.

 

Collateral Security

 Collateral security valuing 150%  of the loan amount.

 

 

 

 


Personal Loan Scheme for Professionals

Beneficiary

Individuals practicing as professionals such as doctors, advocate, chartered engineers, chartered accountants, company secretary, architects, I.T. professionals, interior designer, academicians running coaching centers.

 

Purpose

Credit facility for meeting out socio-economic needs.

 

Loan Limit

15 times of monthly gross salary or Rs 4.00 lakh, whichever is less.

 

Rate of Interest

14%

 

Prepayment Option

Borrower can make the part pre payment of the loan. No penalty will be charged.

 

Repayment Period

Maximum 7 years.

 

Collateral Security

The valuation of the collateral security shall be 150% to the loan amount. In addition to that one guarantor known to the bank will also be taken.

 

 

 

 


Overdraft Facility to Salaried employees having Salary Account with Coop. Bank

Beneficiary

The beneficiary will be a regular/permanent employee of Punjab Govt., Semi Govt., Autonomous Bodies, Boards and Corporations, Apex, District, Cooperative Institutions or any other organization with the approval of BOD, whose salary is being credited in the saving account of bank branch.

 

Loan Limit

Maximum 4 Lakhs

 

Rate of Interest

10%

 

Repayment Period

Renewable each year.

 

Collateral Security

Two Good Sureties as per satisfaction of the bank.

 

 

 

 


Bee keeping Loan Scheme

Beneficiary

Individual entrepreneurs, farmers, producers companies, partnership firms, corporations, NGOs, SHGs, JLGs and Cooperatives.

 

Purpose

Setting up of pig rearing and breeding farms.

 

Loan Amount

Maximum up to Rs. 10.00 Lakhs

 

Rate of Interest

12% upto .50 lakhs and 12.50% above it.

 

Repayment Period

Maximum 5-6 years in equated monthly installments including grace period of one year.

 

Collateral Security

Time pronote, hypothecation of the animals to be financed by the bank, guarantee of two persons having sufficient net worth and should be nominal member of the bank. No collateral security for loan for Rs. 1.00 lakh and above will be sanctioned on mortgage of landed property whose value should not be less than 150% of the loan amount.

 


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