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The Sangrur Central Cooperative Bank Ltd.

LOAN SCHEMES

AGRICULTURE LOAN

Short Term Crop Loan
Beneficiary Farmers
Purpose Production of Crops
Loan Limit As per Land Holding and Scale of finance.
Rate of Interest Subsidy Click Here
Repayment Period Half yearly linked with harvesting.
Collateral Security Nil.
Medium Term Agriculture Loan
BeneficiaryFarmers
PurposeInvestment credit for installation of pump set, purchase of Agriculture implements, land reclamation, construction of bunds, polutry, piggery, purchase of mich cattle, gobar gas plant.
Rate of Interest*Click Here
Loan LimitAs per land holding and scale of finance
Repayment PeriodFive Years
Collateral SecurityAs per scheme.
Revolving Cash Credit

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 or RS 1.50 lakh per acre.

Rate of Interest

Click Here

Margin

No Margin required.

Repayment Period

Renewable on annual basis.

Collateral Security

Agriculture Land valuing at 150% o f the Loan amount.

DAIRY LOAN

Dairy loan to members of MPCS
BeneficiaryMembers of Coop. Milk Producers Societies.
PurposePurchase of maximum 2 miltch cattle.
Loan AmountMaximum amount uptoRs. 1.00 lac
Rate of InterestClick Here
Repayment PeriodMaximum 5 years in equated monthly or quarterly installments with option of 3 months moratorium as per requirement
Collateral SecurityNo Guarantee for loan upto Rs.50,000/- or for one animal. For loan more than Rs.50,000/- or more than one animal:- guarantee by one person who should be nominal member of the bank. The guarantor should be the owner of at least one acre of agricultural land or a govt./ semi govt/ board/ corporation/ cooperative employee having remaining service more than the tenure of loan.
Commercial Dairy Loan
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 milch cattle, construction of shed and to purchase of equipments & minimum 10 milch cattle.
Loan Amount Maximum amount up to RS. 15.00 Lakhs.
Rate of Interest Click Here
Repayment Period Maximum 9 Years.
Collateral Security Mortgage of landed property value of 150% of the loan amount. Guarantee of two persons who shall be nominal members of the bank.
Mini Dairy Loan
Beneficiary Members of Coop. Milk Producers Society/ PACS.
Purpose Purchase of upto 10 Milch cattle.
Loan Limit Maximum amount  RS. 5.00 Lakhs @ RS. 0.50 lakh per animal
Rate of Interest Click Here
Repayment Period Maximum 5 Years.
Collateral Security Mortgage of landed property value of 150% of the loan amount. Also guarantee of two persons who shall be nominal members of the banks.

EDUCATION LOAN

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

Click Here

Margin

No margin required.

Repayment Period

The instalment will start after completion of course or Maximum 5 years.

Collateral Security

Mortgage of landed property value of 150% of the loan amount. For the loan up to Rs. 5.00 lac, no Immovable security is required. If the loanee is the employee of Punjab Govt. or Coop. Deptt. etc. one guarantors known to the bank will also be taken. under taking under sect.39 of coop society Act 1961.

EMPLOYEE LOAN

Personal Loan

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. 6.00 lakh, whichever is less

Rate of Interest

Click Here

Repayment Period

Maximum 7 years.

Collateral Security

One Good Sureties as per satisfaction of the bank

Consumer Durable Loan

Beneficiary

Permanent employee of organised sector where provident fund is deducted

Purpose

For the establishment of cottage, tiny and SSI unit.

Loan Limit

10 times of gross monthly salary or 75% of cost of article to be purchased or Rs. 2.00 lac whichever is less.

Rate of Interest

Click Here

Repayment Period

Maximum  5 years.

Collateral Security

One Good Sureties as per satisfaction of the bank

HOME LOAN

Rural Housing Loan

Beneficiary

Individuals & 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 Lac

Rate of Interest

Click Here

Repayment  Period

Maximum 15 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. Two good sureties to be taken and under taking under sect.39 of coop socs. Act 1961.

Urban Housing Loan
Beneficiary Individuals 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. 15.00 Lac.
Rate of Interest Click Here
Repayment Period Maximum 15 years.
Collateral Security First mortgage of House Property to be financed by the bank
Credit for Setting up of Net House
BeneficiaryAny Individual farmer holding the agriculture land.
PurposeTo grow the seasonal vegetables.
Loan LimitMaximum amount Rs 90000/-.
Rate of InterestClick Here
Repayment PeriodMaximum 5 years.
Collateral SecurityNo collateral security required. Only two sureties required.

LOAN AGAINST PROPERTY/RENTAL INCOME

Loan against Rental Income

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 50% of post TDS Rent Receivable for a period. Not exceeding 120 months or un- expired period of lease or Rs 25.30 Lac whichever is less.

Rate of Interest

Click Here

Repayment Period

Maximum 10 years.

Collateral Security

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

MAI BHAGO / BHAI LALO  SCHEME

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

Click Here

Margin

No margin required.

Repayment Period

Maximum 5 years.

Collateral Security

One good Surety having landed property.

Bhai Lalo Sehkari Kirt Shakti Scheme

Beneficiary

Any men/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

Click Here

Margin

No margin required.

Repayment Period

Maximum 5 years.

Collateral Security

One good Surety having landed property.

NON FARM SECTOR LOAN

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. 15.00 lakhs at CCB Level.
Rate  of Interest Click Here
Repayment Period Maximum 5 to 7 Years
Collateral Security Immovable Properties for the value of 150% of the loan amount.
Cash Credit for Traders

Beneficiary

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

Purpose

For the meeting working capital requirement of business.

Loan Limit

15 Lakhs

Rate of Intt.

Click Here

Repayment Period

Renewable on annual basis.

Collateral Security

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

VEHICAL LOANS

Vehicle for personal use

Beneficiary

Individual, Sole Prop., Professionals 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 Lac or 75% of cost of vehicle or 1.5 times of annual income whichever is less.

Rate of Intt.

Click Here

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

Beneficiary

Individual, Sole Prop., Professional and Partnership Firm.

Purpose

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

Loan Limit

Maximum amount up to RS. 5.00 Lakhs or 75% of cost of vehicle.

Rate of Intt.

Click Here

Repayment Period

Maximum 5 years

Collateral Security

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

Two Wheeler Loan to Farmers

Beneficiary

An agriculturist (KCC member of PACS)

Purpose

For the purchase of new two wheelers.

Loan Limit

Maximum amount up-to Rs. 0.75 Lac or 85% of on-road cost of vehicle, whichever is less.

Rate of Intt.

Click Here

Repayment Period

Maximum 5 years.

Collateral Security

Hypothecation of vehicle, one Good Sureties as per satisfaction of the bank.

EARNEST MONEY SCHEME

Loan Scheme Earnest Money
BeneficiaryAny Individual.
PurposeTo meet the financial requirement towards earnest money deposit to book residential plot/built house or flat by Govt. Approved agency.
Loan LimitAs per the scheme of the agency.
Rate of Interest*Click Here
MarginNo margin money required.
Repayment PeriodOn Receipt of refund from housing board.
Collateral SecurityNo immovable Security is required. Only two post dated cheques are required.

 

Various New SCHEMES

Saral vyapar Scheme

 

BeneficiaryIndividual/Partnership/Private LTD company facility for working capital requirement
PurposeTo facilitate business
Loan LimitMaximum Rs. 5 lakhs
Rate of Interest*Click Here
Repayment PeriodFive Years.
Collateral SecurityHypothecation of Primary Security, Collateral Security : 150% of loan amount
Solar roof top scheme (SeGEL)
BeneficiaryIndividual/entity
PurposeFor solar Rooftop infrastructure
Loan LimitMaximum Rs. 5 lakhs for an individual and Rs. 15 lakhs for Institutions
Rate of Interest*Click Here
Repayment PeriodFive Years.
Collateral SecurityMortgage of immovable property (150% collateral) in case of loan amount is more than Rs. 1 lakh. In case of salaried individuals, no collateral security is required. under taking under sect.39 of coop soc. Act 1961.
Joint Liability Group
Beneficiary4 individuals having same economic background
PurposeFor Meeting Socio-Economic needs
Loan LimitMinimum amount Rs.25000/- per member & Maximum amount Rs. 50000/- per member
Rate of Interest*Click Here
Repayment PeriodMaximum 30 months.
Collateral SecurityNo collateral security required. Only mutual Guarantees.
E-rickshaw
BeneficiaryIndividual/transport operator having a valid driving licence
PurposeTo create employment opportunity
Loan LimitMaximum Rs. 1 lakh
Rate of Interest*Click Here
Repayment Period36 months
Collateral SecurityHypothecation of E-Rickshaw

ATM & NEFT/RTGS Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1ATM ChargesAnnual ATM card charges ->1st year free ->2nd year – Rs.150/-Same Charges
2ATM Financial TxnATM Aquirer (Financial Txn) charges, after 5 transactions – Rs.21/- per transactionSame Charges
3ATM Non-Financial TxnATM Aquirer (Non Financial Txn) charges, after 5 transactions – Rs.7/- per transactionSame Charges
4New ATM card issue charges1st ATM card is freeSame Charges
5For reissue of ATM card – Rs.200/-Same Charges
6SMS ChargesRs. 15/- per QuarterSame Charges
7RTGS/NEFT chargesNo chargesNo charges

Bank Gurantee Against Deposit Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Bank Guarantee against depositMinimum charges Rs.500/-Up to Rs.500000- 2% p.a.Above Rs. 500000 – 1% p.a.Charges to be levied at the time of issuing of guaranteeSame Charges

Interest Certificate Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Interest certificate/ Balance certificateFirst copy- FreeSubsequent copy- Rs.100/-per copyNo charges

Photo Attestation and Signature Verification Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Photo attestation chargesRs.50/- for Saving AccountsRs.100/- for Current AccountsNo charges
2Signatures verification chargesRs.50/- for Saving AccountsRs.100/- for Current AccountsFree for- Students, Defence forces, War widows, Physically handicap & Signature attestation for ECS purposeNo charges

Account Closer Charges Saving/RD

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Account closer chargesUp to 1 year account Rs.500/-above 1 year account Rs.250/-No charges for deceased casesNo charges
2Closing of RD A/c before maturityRs.100/-On account of death of customer no charges should be levied.Same Charges
3Penalty for late payment of RD installmentPenalty charges to be levied for delayed installments in Recurring Deposit Accounts @ Rs.2/- for Rs.100 p.m. irrespective of periodicity of deposit (Minimum Rs.20/-)Same Charges

Cash Deposit in Current Account*

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Cash deposit in Current Account (except Govt./Coop. Institutions.)No chargesNo charges

Payments under CBS other than Parent Branch

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Payments under CBS Other than parent branchCash Payment/Deposits under CBSOther than parent branch customers.No chargesNo charges

Excess Debit Entries Charges in SB Account

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Charges for excess debit entries in SB AccountAfter 30 Manual Debit entries per half year, Rs.5/- per entryshould be debited by system,No charges

Saving/Current Account->Cheque Book Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Cheque Book charges Saving Bank A/cOne cheque book containing 20 leaves free per half year Rs.2.50/- per leaf for extra cheque.Same charges
2Cheque Book chargesCurrent A/cNo free cheque book is to be issued. Rs.3.00/- per leaf for each cheque.Same charges

Saving/Current Account->Minimum Balance Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Maintenanceof Minimum BalanceSaving Bank DepositsThe Customer who does not maintain minimum balance of Rs.500/- and Rs.1000/- withcheque book facility in his account the service charges shall be levied atthe following rates per month:Rs.100/- per month, will be debited every month.No charges for Senior Citizens.No charges
2Maintenanceof Minimum Balance Current AccountMin. balance Rs.5000/- is to be maintained.Rs.300/- per month, will be debited every month for non-maintenance ofminimum balance.Same Charges

Account Statement and Duplicate Pass Book Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Statement of account All types of accounts.One statement for current month and proceeding month is free.Rs.50/- per statement for other months of current financial year.Rs.100/- per statement for proceeding financial years.No service charges for statement through own registered E-Mail.No charges
2Duplicate Pass BookFirst Pass-Book free.Additional passbooks on completion of previous passbook is also free.Rs.100/- for issuing duplicate passbook on request.Same charges

SAFE Custody and Locker Rent Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)ChargesApplicable Charges {For Bank Staff (Including Retired)}
1SAFE CUSTODY CHARGESCharges for sealed cover/envolpe is Rs.300/- per month for per cover/ envolpe.Charges for a box is Rs.600/- per month for per box.Same Charges
2LOCKER RENTSmall Locker900/- p.a.Concession of 50% charges in Locker rent. All other charges will remain same.
Medium Locker1500/-p.a.
Big Locker3000/- p.a.
Extra Large Locker5000/-p.a.
No Lien
Note: In case of loss of key of the Lockers, actual expenditure incurred for breaking open the locker and changing the lock by manufacturers of lockers, should be recovered from the account holders. Penalty charges per Quarter or part thereof:
Small LockerRs.100/-
MediumRs.300/-
BigRs.500/-
Extra LargeRs.800/-
* Any default will atract penalty charges for a full quarter.
*The rent should become due w.e.f. 1st of succeeding month, in which the locker is leased out. One month may be allowed for payment of rent due.

Standing Instructions and STOP Payment Instructions

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1STANDING INSTRUCTIONSRejection/Failure charges are Rs.50/- per instruction once during a month.For RD account rejection charges are Rs.25/- per instruction once during a month.No charges
2STOP PAYMENT INSTRUCTIONAll types of accountsPer instrument Rs.100/-andRs.50/- for additional each instrument in a single instance.Same Charges

Issuance/Cancellation of Banker Cheque /Pay Order/DD

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Issuance of Banker cheque/ Pay order/DDUp to Rs.10000/- Rs.50/- Above Rs 10000/- Rs.50/- plus Rs.3/- per thousand for amount above Rs.10000/- Maximum Rs.10000/- Branch Manager is authorized to waive charges to Govt./Semi-Govt./ Cooperative Institutions, having good amount of deposit.Every Staff Member is entitled for one free draft/ payorder of any amount in a month
2Issuance of Duplicate Banker’s cheques/DDsRs.100/-No charges
3Revalidation/Cancellation Of Pay order/DDsRs.50/-No charges

Cheques/ECS- Outward Inward

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Outward Cheques/Bills returned unpaidCharges for outward Cheques/Bills Clearing Returns, outward loan Cheques return. Rs.100/- per instrumentSame Charges
2Inward Cheques/Bills return unpaidRs.100/- per instrument.Same Charges
3ECS outward and inward clearing returnRs.100/- per instrumentSame charges

Collection of Outstation Cheques/Bills

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Collection of Outstation ChequesUp to Rs. 5000/- Rs 25/- From Rs 5001/- to Rs 10000/- Rs.50/- From Rs10000/- to Rs 100000/ Rs 100 Above Rs100000/- Rs150/- Above charges are per instrument.Same charges
2Collection of BillsUp to Rs. 10000 Rs. 50/- plus Postal charges Rs. 10001 and above Rs.6/- per thousand, Min 100/- and Max. 12000/- plus postage. No collection charges to be levied for collection of local cheques/drafts. However, out of pocket expenses be recovered in full. Collection charges in cases of outstation cheques/bills should be levied on the gross amount of instrument. Further, No charges to be taken from Senior Citizens/pensioners for collection of pension up to Rs 10000/-Same charges

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