Festival Loan

In view of the festive season the bank has introduced the festival loan scheme. Meet your consumption and business needs up to Rs. 2 lac with minimum paper work.

Purpose

  • For expenses in festivals /festive season

Who can borrow

  • Permanent employees working under State/Central government /Educational Institutions /P.S.U./School ( Registered Under societies act) The employees must be of Uttarakhand Cadre
  • Professional /Self Employed/Businessman (who are permanent resident of the region )
  • Minimum CIBIL Score 700 or -1

Income

  • Salaried employees whose monthly net income Rs 10000/- (nettake home salary )
  • Non salaried persons whose net yearly income is not less than Rs. 150000/-(Proof : income tax computation of previous three years )

Amount Of Facility

  • Maximum Rs 200000/-

Margin

  • Nil

Rate of Interest

  • The rate of interest as decided by the bank from time to time would be applicable

Security

  • Nil

Guarantor

  • Two guarantors who are permanent resident of the area

Period

  • 12 to 48 months

Processing charges

  • Nil

Share holding

  • 1.5 % of loan amount*
  • *Loans up to Rs. 1 lac – only nominal memembership needed

Documents Required

  • Photograph , PAN and KYC documents of borrower and guarantor
  • ITR of three years
  • Post dated cheques (where saving account is with other bank)
APPLY NOW

To apply for Festival Loan, please download the below listed form and submit it to your nearest branch

Download
Note : Scheme is valid from 01.07.2022 to 31.032023

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Urban co-operative bank of uttarakhand

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