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Personal Loan
Personal Loan

A Personal Loan, referred to as a consumer loan, is an unsecured form of credit extended by financial entities. It is granted based on factors such as work experience, ability to repay, earnings, occupation, and credit track record. This versatile loan can be utilized for various urgent requirements.

Features & Benefits:

Variety of Loan Amounts: We provide a selection of loan amounts designed to match your specific requirements, guaranteeing the appropriate funds to meet your needs.

Competitive Interest: Our Personal Loans feature competitive and cost-effective interest rates, simplifying the management of your repayments.

Simplified Application: The process of applying for a Personal Loan with us is uncomplicated and smooth. Our application procedure, designed for user convenience, ensures swift approvals with minimal documentation.

Rapid Fund Disbursement: Recognizing the urgency of accessing funds swiftly, our streamlined loan processing guarantees prompt fund disbursement once your loan is sanctioned.

No Need for Collateral: Experience the advantages of an unsecured loan. Our Personal Loan does not necessitate any collateral or security, enabling you to avail funds without it.

Eligibility
  • Membership: To qualify for a Personal Loan, it's necessary to be an enrolled member of Sri Raksh Souharda Credit Co-operative Limited. If you haven't joined yet, you can easily do so by following our membership application process.
  • Age: Your age should fall within the range set by Sri Raksh Souharda Credit Co-operative Limited for obtaining a Personal Loan. Typically, the minimum age required is 18 years, and the maximum age could range from 60 to 65 years, depending on the society's policy.
  • Employment or Income: Demonstrating a steady income source is important to ensure comfortable management of loan repayments. This income could come from employment, business, pension, or other regular revenue streams.
  • Creditworthiness: While we take into account various factors beyond just credit scores, a positive credit history increases the likelihood of loan approval. We assess your creditworthiness to gauge your ability to repay the loan.
  • Documentation: Essential documents like proof of identification, income, and address, as specified by Sri Raksh Souharda Credit Co-operative Limited will be needed. These documents are crucial for confirming eligibility and processing your loan application.

Please be aware that these eligibility criteria are designed to offer you the most suitable and advantageous loan choices.

Sri Raksh Personal Loans

Doesn't matter if its Education or medical emergencies, home renovations or car upgrades, impromptu road trips or jewellery shopping. For all your wants as well as needs, SVC's Personal Loans are available round the clock.

Who can Borrow

Individual

Purpose

Personal needs such as Housing, Education, Medical Emergencies, Travel etc.

Max. Finance available

Rs.5.00 lacs

Guarantors

Two Guarantors

Repayment

36 months

Processing Charges

1.50% of the loan amount plus GST subject to minimum of Rs.1500 and Maximum of Rs.2500/ for salaried customers.

Foreclosure charges & Charges for late payment of EMI

2% per month on EMI/Principal overdue subject to minimum amount Of Rs.200/-

Cheque bounce charges

Rs.350/- per cheque bounce.

Documentation Charges

As applicable along with cheque return charges.

Prerequisites

Income Tax returns for the last three years along with computation of income of the applicant and guarantors Confirmed employee in case of salaried person COMPLIANCE OF KYC NORMS statement of operative Bank account for the last one year. Collateral security: 25% of the loan amount in the form of SV of LIC policy /Face value of NSC’s /KVP. Term Insurance to be availed for loan amount.

About Us

Sri Raksh Souharda Credit Co-operative Limited

At Sri Raksh, we put our customers first. And the confidence that our customers have in us drives us to excel and to redefine boundaries. For us, customer centricity is not just a buzzword. We strive to embody elements of what relationships are about:- Being there for the long haul, through good times and bad Recognising that relationships have swings and roundabouts

Our location

#7, First Floor, Chandra Layout Main Road Income Tax Layout Binny Mills Employees Colony Vijayanagar Bangalore-560 040

Phone Number

(080) -23441011