The Madanapalle Co-Op Town Bank Ltd.

Home > Loans

A+ A− 🌙

Name of the Loan	Loan against Property (Term Loan & OD)
Nature of Loan	Purpose neutral credit facility
Eligible Persons	Individuals and Non-Individulas
Purpose	For any genuine purpose including working capital (real estate should be avoided)
Interest Reset	In respect of ODs interest rate will be reset at the time of renewal, in lying with the then prevailing rates of interest.
Maximum Amount	Rs 40.00 lakhs
Repayment Schedule	Maximum 60 months for loans and yeraly renewal for OD.
Processing Charges	1 % on loan amount + GST
Security	For loans up to Rs.40 lakhs -Minimum 150% security by way of immovable properties For OD (Working capital) Rupees up 10 lakhs- Minimum 150% security by way of immovable properties For OD (Working capittal) Above Rs.10lakhs up to Rs.25 lakhs-100% Security by way of immovable properties plus Hypothecation of stock and Receivables with 30% margin For ODs above Rs.25.00 lakhs : Minimum 150% security by way of immovable properties
CoObligation	Spouse and any of major children (any deviation can be permitted by sanctioning authority)
Other Conditions	Loan/OD to sanctioned only based on the repayment capacity of the borrower Loans up to Rs.10.00 lakhs income can be assessed by BM with documentary evidence For Loans above Rs.10.00 lakhs , income tax returns to be obtained All Securities to be insured. Vacant sites should be avoided These loans should not be allowed against D.form Pattas. No third loan should be sanctioned under this scheme to the same borrower Second loan can be sanctioned only after one year of availment of first loan, subject to satisfctory repayment of the first loan and subject to assessment of repayment capacity for both loans beyond doubt. Sanctioning authority should exercise caution while sanctioning such loans

Name of the Loan	Gold Term Loan
Eligibility	Individuals or firms who can offer Gold Ornaments for availing loans
Purpose	Business purpose or personal needs or any other genuine purpose
KYC	Normal KYC guidelines and insist on SB/CD account for the Customers
Quantum of the loan	As per the scale of finance of per gram rate advised by central office or the amount requested by the borrower ,subject to Repayment Capacity of the borrower, which ever is less. Maximum Loan limit Rs. 50,00,000
Repayment	Maximum 60 months in monthly installments. Lesser repayment shedule may also be considered by the sanctioning authority as per the customer's request
Repayment Capacity	Branches have to access the repayment capacity of the borrower on the same lines of mortgage loans Necessary columns incorporated in the application form
Documents to be submitted	Application form specially designed for Gold (Term) Loan Income proof Purpose proof or declaration Declaration from the borrower agreeing to pay EMIs and also agreeing for banks right to auction the ornaments if 3 EMIs fall in to arrears and also to bring in the margin, if the value of Gold comes down. If loan is for business purpose, photo of the unit and the documentary proof of business. Application cum appraisal report Demand promissory Note Repayment Agreement Declaration
Stamp Duty	Rs.1/- for pronote Rs.100 for Agreement
Appraisal of ornaments	Up to Rs.20.00 lakhs-Branch Appraiser should appraise For Loans Above Rs.20.00 lakhs-Two appraisers should appraise the ornaments
Sanctioning Authority	Up to and Incusive of Rs.10.00 lakhs (Stand alone or Aggregate) : Branch Manager Above 1.00 lakhs up to Rs.20.00 lakhs: Branch Manager and Zone Manager jointly. Incase of absence of ZM, matter to be referred to HO for signature of an officer in HO. Loans exceeding Rs 20.00 lakhs (Stand along aggregate) : Board
Credit Monitoring	Branches have to monitor the loans for promt recovery of installments every month
IRAC Norms	Account will slip to NPA if installments fall into arrears for more than 90 days

Eligibility	The loan scheme is designed especially for small business people. The concern should be in the same business activity at least for a minimum period of one year and the business activity should be in the operational area of the branch. The stake holders should be the permanent residents of the area.
Primary Security	Hypothecation of stock & book debts etc.
Collateral Security	No collateral is required up to 2 laks. Beyond 2.00 lakhs, additional security in the form of Mortgage of immovable property is required to submit.
Amount of Loan	Minimum One lakh-Maximum Rs. Five lakhs. (Loan can be availed in multiples of Rs.50000 between One lakh to Five lakhs.)
Margin	Finance up to a maximum of 20-25% of past/expected annual sales of the business unit.
Tenure of Loan	The tenure is from 90 days to maximum 360 days.
Contribution to Share Capital and others	2.5% of the loan amount of which, 1% as share capital subject to a maximum of Rs.1.50 lakhs & 1.5% as Term deposit .
Processing charges	1 % on loan amount + GST
Other charges	2% of the share capital amount has to be contributed towards the Members Welfare Fund and Rs.25/- towards admission fees.
Required documents	KYC Documents in respect of the business concern and also the promoters/proprietor/partners etc.If the loan for acquisation of Fixed Assets in the form of tools/machinery/furniture fixtures etc, borrower/s need to produce quotation/proforma invoice at the time of submitting application and on disbursement of the loan, the related bills to be produced In case the loan is intended towards payment of trade creditors, they need to submit the proof of existence of debt

Eligibility	The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility. The loan scheme is for financing housing sector for construction as well as purchase of residential houses/ flats.
Primary Security	The applicant should be a major; intent to purchase/ construct a house/flat which has a market value is eligible to avail this facility. The property should have been obtained by the vendor through purchase / valid gift. There should be no encumbrances over the property. The title of the property should be clear and marketable as per the opinion of the Bank. The applicant should be in a position to submit other relevant documents in connection with the property, link documents, encumbrance certificate, rent receipts, etc., The surplus income of the proponent supported by documentary evidence, should be sufficient to repay the equated monthly installments. The Bank should satisfy with the calculation of surplus income and has sole discretion to decide the surplus.
Collateral Security	Third party guarantee, if thought necessary by the bank is to be furnished. The bank should satisfy with the credentials of the guarantor.
Amount of Loan	Amount of loan depends on the cost of construction of the House/value of the property proposed for purchase.
Margin	Finance up to a maximum of 60-70% of the market value of the property as estimated by the bank.
Tenure of Loan	The tenure is from 12 months to 240 months (including moratorium/holiday period) depending upon the income of the proponent and cost of the project.
Contribution to Share Capital and others	2.5% of the loan amount of which 1% as share capital subject to a maximum of Rs.1.50 lakhs &1.5% as Term deposit
Processing charges	1 % on loan amount + GST
Other charges	Charges as applicable under stamp act and as prescribed by government of Andhra Pradesh from time to time for noting the mortgage. 2% of the share capital amount has to be contributed towards the Members Welfare Fund and Rs.25/- towards admission fees.
Required documents	Original Title deeds, link documents for thirty years (Earlier documents to the title deeds to establish the transfer of rights), Latest Rent receipts in original, KYC DOCUMENTS of Applicant along with sureties/guarantors , PAN card if available, Photographs of self and joint holders of the property, Municipal plan, Income tax returns for the last three years in case of an assessee, income proof (salary certificate latest), three years balance sheet and profit and loss account in case of business persons.

Eligibility	The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility.
Primary Security	Gold deposited by the proponent for pledge, should be only in the form of ornaments. Other forms of gold like Gold Bars, gold biscuits, gold coins shall not be accepted by the Bank. Name of the persons if inscribed on the gold ornaments, should be the applicants of loan against pledge of such ornaments or a no objection letter is to be submitted from the concerned person along with his proof of identity.
Collateral Security	No collateral security is required.
Amount of Loan	Amount of loan depends on the quantity and quality of gold subjected to a maximum of total limit of Rs 10.00 lacs per individual.

Margin	The margin varies as per the guidelines of RBI from time to time and the current margin is 25% of the appraised value of the gold.
Tenure of Loan	12 months & renewable on review
Contribution to Share Capital	Should be an ’A’ class share holder of the Bank
Processing charges	Nil
Other charges	0.01% of value of gold towards insurance of the pledged ornaments.
Required documents	Two photographs & KYC documents if the Applicant is not the savings account holder of the Bank& ornaments proposed for pledge.

Eligibility	The proponent should be the depositor of the Bank
Primary Security	Pledge of the duly discharged term deposit receipt by all the joint holders of the deposit.
Collateral Security	Nil
Amount of Loan	85% of the face value of the deposit or 75% of principal+ to the date of sanction of loan, whichever is higher. There is no maximum limit.
Margin	15% value of deposit
Rate of Interest	1% over the interest payable on deposit
Tenure of Loan	Remaining period of maturity of deposit
Contribution to Share Capital	Nil
Processing charges	Nil
Other charges	Nil
Required documents	Duly discharged deposit certificate and stamped with Rs.100/- deed of continuing guarantee form duly signed by the depositor & KYC documents of depositor if not submitted earlier while making deposit

Eligibility	The proponent should be an Indian National, preferably residing in the area of operation of the branch, where he intends to avail the facility.
Primary Security	Gold deposited by the proponent for pledge, should be only in the form of ornaments. Other forms of gold like Gold Bars, gold biscuits, gold coins shall not be accepted by the Bank. Name of the persons if inscribed on the gold ornaments, should be that of the applicants or a no objection letter is to be submitted from the concerned person along with his proof of identity.
Collateral Security	No collateral security is required.
Amount of Loan	Amount of loan depends on the quantity and quality of gold subjected to a maximum of total limit of Rs20.00 lacs per individual.
Margin	The margin varies as per the guidelines of RBI from time to time and the current margin is 25% of the appraised value of the gold.
Tenure of Loan	6 months / 12 months
Contribution to Share Capital	Gold loan borrowers are not required to maintain any share capital with the bank
Processing charges	Nil
Other charges	6 months / 12 months-0.1% of value of gold towards insurance of the pledged ornaments.
Required documents	Two photographs & KYC documents if the Applicant is not the savings account holder of the Bank& ornaments proposed for pledge.

Eligibility	The proponent should be the depositor of the Bank.
Primary Security	Pledge of the duly discharged term deposit receipt by all the joint holders of the deposit.
Collateral Security	No collateral security is required
Amount of Loan	85% of the face value of the deposit or 75% of principal + interest to the date of sanction of loan, whichever is higher. There is no maximum limit.
Margin	15% of the deposit value
Rate of Interest	Loan against Bank Term Deposits: 1% over the interest payable on term deposit
Tenure of Loan	Remaining period of maturity of deposit.
Contribution to Share Capital	Nil
Processing charges	Nil
Other charges	Nil
Required documents	Duly discharged deposit certificate & KYC documents of depositor if not submitted earlier while making deposit