Loan Schemes

RURAL HOUSING LOAN SCHEME
Preamble With a view to provide housing facilities to the masses which is a basic need of human beings, the GOI and State Govt. are attaching utmost importance to the financing of housing sector. Several housing schemes for this are in operation. With a view to supplement these schemes, it has been decided by the Coop. an! to start housing finance for ac"uisition, construction, repair#alteration etc. $his scheme has particularly been designed for rural people, where other financing institutions are reluctant to advance. $he scheme shall be called the %Scheme for &inancing 'ural (ousing) and is applicable to individual#members of house building cooperative societies in the state of Pun*ab and Chandigarh+,.$.+amended vide 'CS Circular letter .o.Credit#C/01#(&#123#3#34145 dated 62.32.27-
3. /rea of Operation
8oan shall be advanced to individual and member of Group (ousing Cooperative Societies in the area of operation an!s in the state of Pun*ab and Chandigarh ,.$.
+amended vide 'CS Circular letter .o.Credit#C/01#(&#123#3#34145 dated 62.32.27-
1. 9ligible orrower
Individuals Cooperative (ousing Societies
6. Purpose of 8oan
8oan shall be advanced under the scheme for purchase of built up house, construction of a new house or repair# renovation#addition#alteration of e:isting house in rural areas.
5. Ceiling on the cost
$he loan for a dwelling unit may not e:ceed 's.3;.22 lacs. In case land is being ac"uired the cost of land may be rec!oned as margin money, otherwise cost of land should not be included in the pro*ect cost.
;. <uantum of an! loan for Individual
$he "uantum of loan shall depend upon repaying capacity of the borrowers, sub*ect to =;> of cost of construction or value of property to be purchased. &or construction#purchase of new (ouse a- ma:imum loan ? 's.3;.22 lacs b- @argin @oney ? 3;> c- 'epayment period ? ,pto 3; years in monthly#half yearly installments. Aue date shall be 62th Bune and 63st Aecember every year.
SCHEME FOR FINANCING RURAL HOUSING
&or 'enovation#'epair#/ddition#/lterationC a- @a:imum loan ? 's.3 lacs +for repair# addition #alteration of (ouseb- @argin money ? 3;> c- 'epayment period ? 32 years in monthly#half yearly installments. 8oan eligibility shall be calculated on the basis of repayment capacity of the borrower. $he repaying capacity shall be determined on the basis of land holding and other !nown sources of income and commitments#subsistence towards his family. / reasonable installment to income ratio i.e. normally upto 6;> of the gross income can be ta!en as repayment capacity of the borrower. Income of the co0applicant can also be considered for loan eligibility.
4. Period of 8oans
$he ma:imum period of loan shall be upto 3; years and loan shall be repayable in e"uated monthly#half yearly installments. $he first installment shall become due after e:piry of D months from the date of drawl of first installment in case of construction and whereas in case of purchase of built up house, it shall start after e:piry of 6 months from the date of purchase.
7. 'ate of Interest
Interest rate of 'ural (ousing shall be determined by financing ban! from time to time and debited to loan account. Penal interest E 1> over and above the normal rate shall be charged in case of default, on the default amount for the default period.
=. Security
$he security of the loan shall be first mortgage charge on the house property to be financed by the ban! by way of registered regular mortgage. In addition to it collateral security shall be ta!en E 322> of the loan amount in the form of agriculture land. Falue of agriculture land as per norms fi:ed by the Aistrict Collector from time to time should be ta!en into consideration. In case of employees of the Govt., semi govt., oards, Corporation, etc., constructing house within rural areas, loan can be advanced on primary security i.e. mortgage of house to be financed, alongwith two good sureties and underta!ing under section 6D of Pun*ab Cooperative Societies /ct., 3D43.
D. Sanction and disbursement of 8oan
$he loan shall be sanctioned after it is ascertained that the applicant fulfils all the re"uirements and en*oys reputation as a good pay master. &or construction loan, the borrower should be in possession of plot with un"uestionable and indisputable title. In case of built up house, the payment shall be made E 7;> of total value of the house#8oan sanctioned. Payment shall, however, be made to third party in lump sum after getting margin money from the borrower and remaining 1;> shall be relased after obtaining @ortgage Aeed in favour of the underC0 3st installment at the time of starting ;2> construction upto plinth level ii1nd installment after completion upto ;2> 'oof level. 1nd installment shall be disbursed after ensuring proper utiliGation of previous installment. ian!. &or construction of house, loan shall be disbursed in 1 installments, which is as
32. Processing &ee H Other Charges
Processing &ees and other charges E 2.1;> of loan amount shall be charged.
33. Aocumentation H general re"uirements.
&ollowing documents are re"uired for financing under 'ural (ousing Scheme C0 3. /pplication form 1. 8oan /greement. 6. A.P..ote 5. $wo latest attested passport siGe photographs of the borrowers. ;. Proof of residence. 4. Source of &inance for own contribution. 7. Copy of approved drawing of the proposed dwelling unit to be constructed#purchased from Sarpanch# .umberdar. =. /greement of sale deed. D. Aetails of cost#estimate from approved /rchitecture# Faluer# 9ngineer of the house to be purchased# constructed #renovated #addition to be made. 32. .on0encumbrance certificate. 33. 8atest Bamabandi and Girdawari. 31. Certificate of ownership of land#property situated within 'ed 8ine +i.e. Phirni- of the village from the Sarpanch#.umberdar#Partwari.
36. $he borrower shall mortgage his e:isting property C to be constructed#purchased in favour of the ban! for the full value of loan. 35. $he borrower shall be re"uired to submit collateral security E 322> of the loan amount. /dditional Aocuments from 9mployeesC I. Salary Certificate. II. III. IF. ,nderta!ing ,#S 6D Post Aated Che"ues Completion Certificate.
URBAN HOUSING LOAN SCHEME

3. Short title, 9:tent and Commencement a$his scheme may be called ,rban (ousing 8oan Scheme to individual and members of house uilding Societies by $he Pun*ab State Cooperative an!#Central Coop. an!+s- in the State of Pun*ab.
b-
$he scheme shall be implemented through the branches urban areas falling in the area of operation of the lending an!.
of the
PSC #Central Cooperative ban!s concerned and shall be limited to

c-
It shall come into force from the date as the 'egistrar Coop.Societies, Pun*ab Chandigarh decides.
1. Aefinitions
In this Scheme unless the conte:t otherwise re"uires C0 a- I/ctJ means, the Pun*ab Cooperative Societies /ct 3D43 as amended from time to time. b- I ye0lawsJ means the registered byelaws of the State # Central Cooperative an!s concerned. c- I an!J means State#Central Cooperative /ct. d- ICommitteeJ means the Governing body of the Cooperative ban! is entrusted. e- IGovernmentJ means Government of Pun*ab. fI.ominal @emberJ means a person admitted to membership of he ban! under /ct. 'ules and ye0laws. g- IOfficersJ means the President, Fice President, Chairman, Fice Chairman, @anaging Airector, @anager, 8i"uidator and /dministrator includes any other person empowered under the rules or the bye laws to give direction in regard to the business of the ban!. h- I'egistrarJ means a person appointed to perform the function of the 'egistrar of Cooperative Societies under the /ct. i*I'ulesJ means the Pun*ab Cooperative Societies 'ule 3D46. ,rban area means area falling under .agar Panchayat, .otified /rea Committee, @unicipal Council, @unicipal Corporation and Cantonment oard.
+amended vide 'CS Circular letter .o.Credit#C/01#(&#123#3#34152 dated 62.32.27
an! registered under the an! by
whatever name called to which the management of the affairs of the
SCHEME FOR URBAN HOUSING LOAN SCHEME
!- &amily member means Spouse, Son, SonJs wife, ,nmarried Aaughter.

6. Purpose
8oan shall be advanced for the purchase of plot, purchase of built up house, construction of house or repair, renovation, additions, alteration, etc. in the e:isting house. 8oans shall also be given for ac"uiring a plot, flat, house in an e:isting or proposed Cooperative (ouse /gency. 8oan can also be advanced for ta!e over of an e:isting loan advanced by any other ban!#financial institution sub*ect to the condition that uilding Society and approved scheme of P,A/, (ousefed, Improvement $rust or any other Govt.
the loan account should have remained in the standard category of assets for atleast last 1 years in the previous financial institution.
5. 9ligibility
/n individual residing in the area of operation of the
an! may apply for the
loan in his individual name or along with another person being *oint owner of the land#property as co0applicant. $he applicant and co0applicant, if any will be enrolled as nominal members of the ban! under the /ct, 'ules and 8aws. .ote C The Borrower shoul !o" h#$e e%#ul"e &! #!' o"her lo#!( $he applicant shall be eligible for a total house building loan not e:ceeding 7;> of the total cost of house +cost of construction K cost of plot, if plot is to be purchased- and the loan out of it for purchase of plot will not e:ceed ;2> of the total loan sanctioned. $he remaining, e:ceeding or upto ;2> shall be utiliGed for construction of house thereon). $he employees of the Pun*ab State Cooperative Cooperative an! Scheme from the Pun*ab State Coop. an! or Central an!s who have already availed house loan under Govt. or an! or Central Cooperative ye
an!s can also get loan under the scheme sub*ect to ma:imum of 's.1; lacs under both house loan scheme. It will be further sub*ect to the repaying capacity of the employee in accordance with their last salary statement. &urther this loan to employee will be against second charge on the said property.
;. <uantum of 8oan
$he "uantum of loan will depend upon the repayment capacity of applicant to be calculated by the ban! as under C
21 'rs( To 45 'rs o% #*e( 5= times of the net monthly income +.@I- or 5 times of .et /nnual Income +./IA+o$e 45 'e#rs 64 times of .et @onthly Income +.@I- or 6 $imes of .et /nnual Income +./IIncome of the spouse or family member can be considered if spouse or family member is co0applicant or guarantor. @a:imum loan amount for construction of house or purchase of house#flat, purchase of plot K construction thereon under this scheme is 's.1; lacs or 7;> of total cost of construction, purchase of house +cost of construction K cost of plot, if plot is to be purchased-, whichever is less. $he loan for purchase of plot will not e:ceed ;2> of the total loan sanctioned. &or repair#renovation ma:imum amount of loan shall be 's.3 lacs.
4. Interest
'ate of interest shall be charged as fi:ed by the ban! from time to time with "uarterly rests. In case of default a penal interest E 1> p.a. over and above the normal rate on the defaulted amount for default period shall also be charged.
7. Period of 8oan# 'epayment of 8oan
@a:imum period +including moratorium period- shall be 3; years or attaining the age of 4; years whichever is earlier. In case of repair#renovation #addition#alteration loan cases ma:imum period shall be 32 years. 'epayment of the loan shall, however, be in monthly e"uated installment to be started from D months after the first installment of loan disbursed. In case of the farmers availing loan under this scheme, repayment of loan may be in half yearly installments i.e. 62th Bune and 63st Aecember every year.
=. Security
Security for the loan is a first mortgage of the property to be financed normally by way of deposit of original title deeds.
D. Aisbursal of 8oan
$he loan shall be disbursed after the property is technically appraised, all legal documentation completed and borrower having invested own contribution in full +own contribution is the total cost of proposed property ? an! loan-. In case of purchase of plot K construction, the disbursement shall be in 6 installments as followsC0 &or purchase of plot ? ;2> ,pto roof level ? 1;> /fter roof level ? 1;> 8oan will be disbursed at one go for purchase of a built up house. (owever, for construction on pre0owned plot, the disbursement shall be in two installments. 3st Installment for construction after plinth level ? ;2> 1nd Installment for construction of the building after roof level ? ;2> 8oan for repair, additions, alterations and renovation shall be disbursed in two e"ual installments. $he second and subse"uent installment of loan shall be disbursed only after ensuring the utiliGation of previous installment to builder.
an!Js satisfaction.
an! shall
not be bound to accept progress construction as assessed by
32. &ee H Other Charges 33. Aocumentation ? Pre0sanction Stage.
/ processing fee E2.1;> of the loan amount sanctioned will be charged.

3. Identify proof. 1. 'esidential Proof. 6. Self attested recent passport siGe photographs of the applicant and co0 applicant +two-. 5. Copy of Income0ta: 'eturn for the three years duly ac!nowledged by I$O concerned. ;. Sources of &inance for own contribution. 4. .on0encumbrance certificate. 7. Search report H legal opinion alongwith photograph of the property. =. Original title deed. D. Spot Physical verification.
32. 33. 31.
Purchase agreement of property. Income Proof#B0&orm. 8oan application &orm 3. 8oan agreement. 1. Aemand Promissory .ote. 6. @ortgage Aeed 5. 8etter of 8ien and Set Off ;. 8etter of Waiver 4. 8etter of Guarantee
Post ? Sanction Stage
9mployed applicants C ,nderta!ing from the employee under section 6D of Pun*ab Cooperative Societies /ct, 3D43.
31. Insurance
Comprehensive insurance in the *oint names of the borrower and the ban! shall be made of the property mortgaged against fire, riots earth"ua!e lighting floods etc. Incase of default ban! will be at liberty to get a policy renewed by debit to house loan account of the borrower.
36. /dditional Aoc0 uments in construction cases
a- Construction Plan approved by a competent authority. b- Aetailed Cost estimate from 'egistered /rchitect# Civil 9ngineer. c- / photocopy of registered title deeds or allotment letter +in case of member of Cooperative (ouse uilding Societies-
35. In purchase of uilt ,p (ouse cases.
a- /greement of sale#sale deed#detailed cost estimate from approved engineer. b- In case of allotment of flat#houses, photocopy of allotment letter and details of balance payment, if any.
3;. Aisputes
If at any stage any dispute arises,it will be settled#referred under the Pun*ab Cooperative Societies /ct 3D43.
1.
/ERSONAL LOAN
/ specially designed Personal 8oans Scheme has been framed which aims at providing credit facility for meeting out socio0economic needs of employees such as childJs education, furnishing your home, buying a computer, son#daughterJs marriage, holiday tour with your family or any other basic re"uirements without giving any purpose of the loan. $he main features of this scheme are listed belowC0 El&*&+&l&"' Cr&"er&# 3. Class Salaried employees of Pun*ab Government, PS,s, oards, Corporations, /ided Schools#colleges, ,niversities, Public Sector an!s, Premier @edical Institutions, General Insurance Companies, Pun*ab State Cooperative an!, Aistrict Central Cooperative an!s, Cooperative OrganiGations in the State of Pun*ab or any any other organiGation as approved by the oard of Airectors of the respective ban!. $he OA of the respective ban! can ma!e addition or deletion to this list.
+amended vide 'CS Circular letter .o.Credit#C/01#PI013;#3# 35D3= dated 33.32.27-
1. /ge 6. Service $enure 5. 8oan 8imit ;. $enure 4. Processing &ee
@inimum 13 years and @a:imum ;7 years.

3 year after the confirmation#regulariGation.

3; times of gross monthly salary or 's.5 lacs, whichever is less.

+
@a:imum ? 7 years. Processing &ee of 's.322#0 in lump sum per case irrespective of the loan amount sanctioned to be charged at the time of sanctioning the loan.
7. 'ate of Interest =. 'epayment of 8oan
/s decided by the an! from time to time with "uarterly rests.

8oan is repayable in e"uated monthly installments in the form of post0dated che"ues. $he 3st installment will start after one month. $he loan will be repaid before retirement.
D. Security 32. Option to prepay loan 33. General
.o collateral security is re"uired, only two guarantor !now to the ban!. orrower can ma!e the part pre0payment of loan. .o penalty will be charged.
.o employee will be given this loan facility, which has defaulted in repayment of loan under any other scheme.
11
T0O 0HEELERS LOAN TO FARMERS

1( El&*&+&l&"' Cr&"er&# a- 9ligible orrowers /n agriculturist having land in his own name or his family member is eligible for the loan. $he branch manager has to ensure that the applicant is a farmer which can be verified either from Lissan Credit Card or &ard Bamabandi or any other legal document. /pplicant should not be defaulter of any loan.
+amended vide 'CS Circular letter .o.Credit#C/01#5C8#=4# 35D13 dated 33.32.27-
b- /ge
$he age of the borrower should not be less than 13 years at the time of application and not more than 42 years at the time of maturity +repayment of loan-. Proof of /ge ? 'ation Card#Foter Card#School 8eaving Certificate#Ariving 8icense.
c- .ominal @ember
$he borrower shall be enrolled as .ominal @ember of the ban!. If he or she is already a nominal member of the ban!, then there is no need for admitting him#her again, his#her nominal membership number may be used for the purpose of loan.
d- .umber and $ype of Fehicle to be financed.
Only one new two0wheeler is eligible to be financed to a person. $he old vehicle is not eligible to be financed under the scheme. $he two wheeler may be of any ma!e#model to be purchased from the authoriGed dealer#supplier of the Company.
2( A1ou!" o% Lo#! #! Re2#'1e!" a- @a:imum /mount b- Period of 8oan c- 'epayment of Interest $he ma:imum amount of loan that can be sanctioned under this scheme is 's.;2222#0 or 7;> of the value of the two0wheeler, whichever is less. $he repayment period shall not e:ceed ; years in any case. $he rate of interest shall be determined by the ban! from time to time. Penal interest shall be charged E 1> over and above the agreed rate of interest on defaulted amount for the defaulted period with the half yearly rests.
d- 'epayment
$he loan will be repayable in monthly#half yearly installments resting 63 st @arch and 62th September.
T0O 0HEELERS TO FARMERS
3( 3o4u1e!"s re5u&re w&"h A22l&4#"&o! For1

12
iiiiiiiv-
8atest photographs of applicant and guarantors. Proforma Invoice of two0wheeler form authoriGed dealer#supplier. Copy of valid Ariving 8icense of applicant or his#her family member. Photocopy of 9lection Identity Card#'ationCard#$elephone provide proof of residence. ill#9lectricity ill#Lissan Credit Card or any other document which establishes the identity of the applicant and
vvi-
.ominal @embership form for applicant, guarantors or their nominal membership numbers. Photocopy of documents relating to collateral securities, if re"uired particularly in the absence of guarantee.
4( Se4ur&"' o% Lo#! a- (ypothecation of Fehicle $he charge of the an! on two0wheeler in the form of hypothecation shall be registered with the concerned registration authority. $he ranch @anager will ensure the registration of hypothecation of vehicle in favour of an! with the registration authorities. b- Guarantee# Sereties $he loan shall be financed against two sureties who shall also be nominal members of the ban!. $he sureties.
ranch @anager will ensure the networth of
c- Collateral Security
In case of non0availability of surities the borrower will provide collateral security to the e:tent of 322> of the cost of two wheeler. $he collateral security may be in the shape of mortgage, pledge, lien assignment etc.
5( 3&s+urse1e!" o% Lo#! a- $hird Party Payment b- Precaution before disbursement $he cost of the two wheeler will be paid directly by the ban! to the supplier or authoriGed dealer on the instructions from the applicant. $he ranch @anager must ensure that the following documents are in proper order before disbursing loan to the borrower. 3. .ominal @embership of applicant as well as of guarantors 1. 'esidential proof of applicant 6. Proforma Invoice duly countersigned by applicant.
T0O 0HEELERS TO FARMERS
13
5. Chec! the following security document if in order a- Aemand Promissory .ote b- (ypothecation Aeed c- 8etter of Guarantee d- 8etter of Waiver e- 8etter of 8ien and Setoff
6( /os" 3&s+urse1e!" a- Copy of Sale 8etter $he ranch @anager should obtain copy of sale letter from the borrower
within stipulated period. (e should ensure that sale letter must be in the name of borrower and contain the name of the cooperative ban! as financing institution.
b- Certificate of 'egistration
$wo wheeler should be registered within D2 days from the date of purchase, failing which 1> charges will be levied on the outstanding amount $he ranch @anager should obtain copy of Certificate of registration in the name of the borrower within 1 months of disbursement of loan. $he certificate of registration must contain hypothecation in favour of the ban!.
c- Insurance of Fehicle
$wo wheelers shall be comprehensively insured for the face value covering all type of ris!s and the policy should be in the *oint names of the ban! and borrower with agreed ban! clause.
d- $imely repayment
$he
ranch @anager must ensure the timely repayment of loan by the
borrower.
14
CONSUMER 3URABLE LOANS 6SALAR78NON SALAR7 EARNERS9

S4he1e %or Gr#!"&!* Lo#!s "o I! &$& u#l S#l#r' #! !o!:s#l#r' e#r!ers +' "he s"#"e #! 4e!"r#l 4oo2er#"&$e +#!;s %or so4&o:e4o!o1&4 !ee s 3. $he ban! may grant loans to individual salary earners and non0salary earners holding saving ban! account or current account with the ban! for purchase of consumer durables and meeting other socio0economic needs.
1. $he loan should be repayable in monthly installments but the total duration of loan should not e:ceed five years in any case. 6. $he borrower should be enrolled as a nominal member of the an!. $he orrower should
be re"uired to produce 1 sureties who should also be nominal members of the an!. 5. In case of S/8/'M 9/'.9'S, the amount of loan should not e:ceed 's.3.22 lac per borrower or 7;> of the cost of article to be purchased whichever is less, in accordance with the slabs fi:ed hereunderC0 a- $otal emoluments upto 's.;222#0 b- $otal emoluments from 's.;223#0 to 's.7;22#0 c- $otal emoluments from 's.7;23#0 to 's.32222#0 e- $otal emoluments above 's.3;223#0 0 8oan /mount N 's.1;222#0 0 8oan /mount N 's.52222#0 0 8oan amount N 's.;2222#0 0 8oan amount N 's.322222#0
d- $otal emoluments from 's.32223#0 to 's.3;222#0 0 8oan amount N 's.7;222#0 In case of .O.0S/8/'M 9/'.9'S, the amount of loan should not e:ceed 's.;2222#0 per borrower or 7;> of the cost of article to be purchased in accordance with the slabs fi:ed hereunderC0 (alf Mearly Income a- ,p to 's.3=222#0 b- &rom 's.3=223#0 to 's.17222#0 c- &rom 's.17223#0 to 's.52222#0 d- @ore than 's.52223#0 /mount 8oan 's.3;222#0 's.1;222#0 's.62222#0 's.;2222#0
&or category +d- copy of previous year income0ta: return is essential.
;. $he loan should be advanced for ac"uiring new assets only. Purchase of second hand articles should not be financed in any case.
+/mended vide 'CS Circular letter .o.Credit#C/01#5C8#=4# 4D32 dated 21.2;.2=-
15
CONSUMER 3URABLE LOANS 6SALAR78NON SALAR7 EARNERS9
4. $he ban! should obtain salary certificate from the borrower. $he borrower himself should be responsible for the repayment of his loan. (owever he should also produce a copy of authority letter addressed to the ban! and also an underta!ing to the effect that in case borrower commits default in repayment of his loan installments, then his salary or loan amount due will be credited to his loan account till the ban! directs to do so. $he ban! shall inform the employer immediately after the sanction of loan.
7. In case of default by the borrower, the ban! will as! the employer of the borrower to deposit the due amount by deducting from the salary of the employee.
=. $he borrower should give standing instruction to debit the amount of installments or overdue installments together with interest due on that loan every month to his saving ban! account or current account as the case may be.
D. $he ban! should also obtain the following documents from the borrower C0 a- Salary certificate#proof of income b- 8oan agreement. c- Aemand Promissory .ote d- /n authority letter from the borrower under Section 6D of Pun*ab Cooperative Societies /ct, 3D43 for repayment of loan in case the borrower fails o repay the loan. e- /n authority letter from the borrower to recovery the installment#interest by debiting to saving#current account. f8etter of waiver. borrower.
g- Post dated che"ues e"ual to number of installments should be obtained from the
32. $he payment of loan shall be made direct to the borrower. (e shall utiliGe the loan within one month and submit the cash memo#receipt of the goods purchased. In case the borrower fails to submit the same, he shall be liable to refund the loan in lumpsum and shall also pay penal intt. E 6> p.a. over and above normal rate till the li"uidation of loan. 33. $he loan should be advanced against hypothecation of the asset#assets ac"uired#to be ac"uired, if any. 31. 'ate of Interest shall be as fi:ed by the an! from time to time with "uarterly rests. Penal
interest E1> shall be charged on the default amount for the defaulted period.
16
CASH CRE3IT FACILIT7 TO TRA3ERS < OTHERS

.ame of the Cash Credit &acility to $raders and Others +amended vide 'CS Circular letter .o.Credit#C/01#36D#35D16 dated 33.32.27Scheme 'ule .o.3 $hese 'ules shall be called $he Pun*ab State Coop. an! # Central Coop. an! rules for granting Cash Credit &acility to $raders and others.
+amended vide 'CS Circular letter .o.Credit#C/01#36D#35D16 dated 33.32.27-
'ule .o.1
i-
$he ban! means $he Pun*ab State Coop. an! 8td., or Central Coop. an!s of Pun*ab.
ii-
$he
oard of Airectors and the 9:ecutive Committee means the
oard of
Airectors and 9:ecutive Committee constituted under the ye0laws of the an!. iii- /uthorised Officer means the Officer authoriGed by the Committee of the ivapplications for loans under the scheme. orrower means and individual, sole proprietor, firm, cooperative society or a company doing manufacturing# trading business#providing services having an assured income.
OA#9:ecutive
an! to receive and ta!e appropriate action on the
v-
Cooperative Societies /ct means $he Pun*ab Cooperative Societies /ct,3D43 as amended from time to time.
vi- Cooperative Societies 'ules means the Pun*ab Cooperative Societies 'ule, 3D46, as amended from time to time. viiye0laws means the bye0laws of the &atehgarh Sahib Central Cooperative an! 8td., Sirhind. viii- 'egistration means the 'egistration under the Shops /ct or under the CompanyJs /ct. 'ule .o.6 Cash Credit &acility under the Scheme shall be granted for meeting wor!ing capital re"uirements.
'ule .o.5
$he applicant should not have availed cash credit facility from any other financial institution for the purpose.
'ule .o.;
$he ma:imum amount of Cash Credit 8imit under these 'ules shall be 's.1; lac.
1)
'ule .o.4
$he application for cash credit limit shall be made by the borrower on the prescribed form of the ban!.
'ule .o.7
$he sanctioning of the Cash0Credit by the
an! shall be made only in case it is
satisfied of the viability of the Pro*ect #proposal. 'ule .o.= $he borrower shall hypothecate in favour of the ban! the entire current assets created besides collateral security of the value of 3;2> of the Cash Credit 8imit sanctioned. 8imit upto 's.;2,222#0 may be granted with two good sureties only and hypothecation of stoc!#assets with the an!.
'ule .o.D
$he borrower shall produce clear mar!etable title to the property to be mortgaged in favour of the ban! to the satisfaction of the ban!.
'ule .o.32
$he licenced contractors approaching the an! for Cash0Credit &acility should give a power of /ttorney in favour of the an! to receive the che"ue from Government#<uassi Govt. Institutions and to encash the same.
'ule .o.33
$he time.
an! shall be at liberty to call for additional#collateral security#securities at any
'ule .o.31
$he legal e:penses, fee, registration charges and other incidental charges incurred in connection with the financing shall be borne by the borrower.
'ule .o.36
'ate of interest as may be fi:ed by the ban! from time to time shall be paid by the borrower at "uarterly rests. In case of default in the repayment of dues to the ban! additional interest of 1> p.a. will be charged for the defaulted amount for the period of default.
'ule .o.35
$he borrower shall maintain the boo!s of account as prescribed by the ban!. orrower shall furnish stoc! statement as per following periodicity indicating the opening stoc!, purchases, sales and closing stoc!. /mount of limit upto 's.3 lac ? <uarterly /bove 's.3 lac ? @onthly
1,
&ailure to furnish stoc! statements will attract penal interest E 1> p.a. on outstanding amount for period of non0submission of statements.
'ule .o.3;
$he Cash Credit 8imit sanctioned should be !ept current by regular drawls and repayments. In other words, the business transaction of the unit should be deposited in the Cash Credit /ccount.
'ule .o.34
$he Cash Credit 8imit shall be sanctioned for a period of one year. 'enewal of the Cash Credit 8imit will be allowed by the ban! at its discretion based on the performance of the unit and also the operation in the cash credit limit account. /ggregate credits during the year in the limit account should be two times of the sanctioned limit or highest availed limit.
'ule .o.37
$he borrower should insure the assets created out of loan and the policy should be in the *oint name of the borrower and the ban! with agreed ban! clause.
'ule .o.3= 'ule .o.3D 'ule .o.12
$he orrower shall e:ecute all the loan documents prescribed by the ban!. Aeleted. $he borrower shall agree to be bound by the provisions regarding arbitration in the cooperative Societies /ct and Cooperative Societies 'ules.
'ule .o.13
$he orrower should become the nominal member of the ban! by paying necessary membership fee as fi:ed by the an!.
'ule .o.11
Whenever the borrower fails to discharge the loan as agreed upon the
an! should
ta!e legal action against him to recover the loan outstanding with interest and cost. $he borrower shall be liable to ma!e good of the e:penses and legal charges that has been incurred by the an! in this regard. 'ule .o.16 Processing fee E 2.1;> shall be charged at the time of sanctioning of the C.C. limit. $hese charges of 2.1;> shall be levied every year.
'ule .o.15
@argin at the rate of 1;> shall be maintained on the present value of stoc!.
1-
=EHICLE LOAN
Rules %or Issue o% =eh&4le Lo#!s 'ule .o.3 $hese rules are called the rules for granting of Fehicle 8oan to individuals, firms, (,&, Companies, $rust and Cooperative Societies.
+amended vide 'CS Circular letter .o.Credit#C/01#Fehicle 8oan#35D15 dated 33.32.27-
'ule .o.1
Purpose of loan is to provide financial assistance to purchase new vehicles for business and personal use.
'ule .o.6
$he ma:imum amount that can be sanctioned under the scheme is limited to 's.32.22 lac or =2> of value of the vehicle whichever is less.
'ule .o.5
$he cost of the vehicle shall be paid directly by the applicant.
an! to the suppliers or
authoriGed dealers on receipt of intimation from the dealer and instructions from the
'ule .o.; 'ule .o.4
$he application for loans should be made in the form prescribed by the an!. Wherever sanctioning authority is satisfied, loans upto 42> of the cost of vehicle shall be granted against the comprehensive insurance and lien in the registration certificate. In case loan is above 42> of the cost of vehicle +sub*ect to =2> of the cost as stipulated in the rules-, two good sureties shall also be ta!en in addition to the insurance and lien in registration certificate in case of buses and truc!s for commercial use.
+amended vide 'CS Circular letter .o.Credit#C/01#G06#06;3 dated 62.25.3DD= -
'ule .o.7
'ate of interest shall be charged as fi:ed by the ban! from time to time with "uarterly rests.
'ule .o.=
Penal interest at the rate of 1> p.a. shall be charged for the defaulted amount and for defaulted period.
'ule .o.D
$he vehicle should be comprehensively insured for the full value covering all ris!s and the policy should be in the *oint names of borrower and the ban! with agreed ban! clause.
=EHICLE LOAN
'ule .o.32
$he charge of the ban! on the vehicle in the form of registration should be registered 2.
with the registering authority within D2 days of purchase of vehicle, failing which additional interest at the rate of 6> shall be charged.
'ule .o.33
$he repayment of loan should be in the form of monthly installments to be repaid within ; years. (owever farmers may opt for half0yearly installments due on 62 th Bune and 63st Aecember. One month moratorium period shall be allowed under the scheme. $he an! reserves the right to proceed against the borrower and sureties in the event of default in the repayment of loan installment#s.
'ule .o.31
'ule .o.36
$he borrower should agree to produce the vehicle for periodical inspection to ensure that it is maintained in satisfactory condition.
'ule .o.35
$he borrower should agree to be bound by arbitration provisions in the Pun*ab Cooperative Societies /ct 3D43 and the 'ules framed thereunder.
'ule .o.3;
$he borrower should give an underta!ing stating that all the terms and conditions stipulated by the an! while sanctioning the loan and those conditions that may be stipulated in future by the ban! are acceptable to him.
COO/ RENT > LOAN AGAINST RENTAL INCOME SCHEME

21
Introducing a new scheme for property owners having their property situated in area of operation of the ban! and who have let out or proposes to let out such properties to PS,s, reputed Govt.#Semi0Govt. corporates, ban!s, financial institutions, insurance companies, cooperative societies, trust and @.Cs. 3e%&!&"&o!s C In this Scheme unless the conte:t otherwise re"uires C a- /ctJ means, the Pun*ab Cooperative Societies /ct 3D43 as amended from time to time. b- I ye0lawsJ means the registered byelaws of the State # Central Cooperative concerned. c- I an!J means State#Central Cooperative an! registered under the /ct. d- ICommitteeJ means the Governing body of the Cooperative e- IGovernmentJ means Government of Pun*ab. fI.ominal @emberJ means a person admitted to membership of he ban! under /ct. 'ules and ye0laws. g- IOfficersJ means the President, Fice President, Chairman, Fice Chairman, @anaging Airector, @anager, 8i"uidator and /dministrator includes any other person empowered under the rules or the bye laws to give direction in regard to the business of the ban!. h- I'egistrarJ means a person appointed to perform the function of the 'egistrar of Cooperative Societies under the /ct. iI'ulesJ means the Pun*ab Cooperative Societies 'ule 3D46. an! by whatever name called to which the management of the affairs of the ban! is entrusted. an!s
El&*&+&l&"' Owners of the property who have let out or propose to let out the same to reputed Companies# Commercial#Indusrial#Software Companies, @.Cs, an!s, PS,s#'eputed Govt.#Semi0Govt. Institutions#Organisations, &inancial Institutions, Insurance Companies etc. Owners of properties who have rented out their premises to Cooperative an! are also eligible. In case of residential flats#houses leased out to Cooperative an! Officers. .ote C $he facility is available only to resident customers and not to .'Is.
/ur2ose?
22
&or meeting business#personal needs. Lo#! A1ou!" @a:imum to the e:tent of 7;> of post $AS 'ent receivable for a period not e:ceeding 312 months or une:pired period of lease, whichever is less. +$he rent receivable is calculated as per 'ental#8ease /greement and if there is any inbuilt provision for increase in rentals during ne:t 312 months or une:pired period of lease#tenancy, the same is considered for calculation of loan amount-. $he @inimum loan amount under the scheme is 's.3.22 lac. $here is no upper limit but it must be within prudential e:posure norms. Se4ur&"' Primary C /ssignment of lease 'entals Coll#"er#l ? 9"uitable @ortgage of relative immovable property to the e:tent of 3;2> of the proposed loan +&or any reason if the relative property cannot be given as security, any other commercial or residential property is acceptable. O' Other chargeable securities such as .SCs, IFPs, e:tent of 322> of loan amount. O' 3;2> cover partly by immovable property and partly by securities such as .SCs, IFPs, an!Js own deposits. In case the property#security is in the name of third party, personal guarantee of the owner of assets proposed to be ta!en as collateral security. R#"e o% I!"eres" /s decided by the ban! from time to time. /er&o o% Lo#! @a:imum period of loan shall be 32 years or une:pired period of lease, whichever is earlier.
an!Js own deposits to the
Re2#'1e!" o% lo#! ?
23
y way of e"uated monthly installments from the proceeds of monthly rentals, to be repaid within 312 months or une:pired period of lease, which is less. M#r*&! ? @inimum 1;> /ro4ess&!* Ch#r*es 2.;2> of the loan amount. I!sur#!4e Insurance for full mar!et value of properties in the name of borrower+s- to be mortgaged to an! with ban! clause. Insurance to cover ris! such as fire, riot, earth"ua!e etc. 3o4u1e!"s? 8oan application. Certified Copy of 8ease Aeed. Proof of Income for applicant and lessee. Copy of I$ 'eturn. Certified copies of title deeds of the properties leased out and mortgaged along with latest ta: receipts. Copy of approved building plan. /uthority letter by the borrower to the ban! for receiving rent directly from the tenant#lessee and letter of underta!ing from tenant#lessee to pay rent directly to an!. $ripartite /greement between borrower, lessee and the ban!. Copy of Partnership Aeed#@emorandum H articles of /ssociation +not for individual applicant-. Copy of lease#tenancy agreement. Copy of latest ta: receipt of the property. 8atest I$#W$ /ssessment, if available. /udited alance Sheets of &irm#Company. Certificate of outstanding balance in loan a#c against the property. Copy of latest rent receipt +in case e:isting tenant#lessee-.
24
LOAN SCHEME FOR EARNEST MONE7

In order to meet re"uirements of the public of Pun*ab and ,.$. Chandigarh, the Cooperative @oney. 3e%&!&"&o!s C In this Scheme unless the conte:t otherwise re"uires C a- /ctJ means, the Pun*ab Cooperative Societies /ct 3D43 as amended from time to time. b- I ye0lawsJ means the registered byelaws of the State # Central Cooperative concerned. c- I an!J means State#Central Cooperative an! registered under the /ct. d- ICommitteeJ means the Governing body of the Cooperative e- IGovernmentJ means Government of Pun*ab. fI.ominal @emberJ means a person admitted to membership of he ban! under /ct. 'ules and ye0laws. g- IOfficersJ means the President, Fice President, Chairman, Fice Chairman, @anaging Airector, @anager, 8i"uidator and /dministrator includes any other person empowered under the rules or the bye laws to give direction in regard to the business of the ban!. h- I'egistrarJ means a person appointed to perform the function of the 'egistrar of Cooperative Societies under the /ct. iI'ulesJ means the Pun*ab Cooperative Societies 'ule 3D46. an! by whatever name called to which the management of the affairs of the ban! is entrusted. an!s an!s of Pun*ab launches one more scheme !nown as 8oan Scheme for 9arnest
Be!e%&4&#r&es Individuals of 13 years of age and above. /ur2ose $o meet the financial re"uirements towards 9arnest @oney Aeposit to boo! residential plots# built up houses#flats being sold by Govt. (ousing /gencies, ,rban Aevelopment /uthorities li!e P,A/, (,A/ and (ousing (ousefed and Improvement $rust. oards, Cooperative (ouse uilding Societies,
25
A*ree1e!" w&"h Hous&!* A*e!4&es $he ban! shall enter into agreement with the concerned housing agencies for collection of applications on behalf of the agencies and to get direct refund of unsuccessful applicants financed by the ban! within specified time. M#r*&! .o margin re"uired. Se4ur&"' .o security re"uired. M#@&1u1 Lo#! /s per scheme of the agency. I!"eres" R#"e /s fi:ed by ban! from time to time. Interest will be charged initially for a period as stipulated by the concerned ACC and will be non refundable. In case of delay in allotment, repayment, refund of money beyond stipulated period, ban! will charge interest as fi:ed by it. /ro4ess&!* Fee /s fi:ed by PSC #concerned ACC . 3&s+urse1e!" $he loan would be disbursed by the issuance of draft#ban!erJs che"ue favouring the concerned agency. Re2#'1e!" o% Lo#! In case of unsuccessful candidates ? on receipt of refund from the housing board#,rban Aevelopment /uthority etc. In case of successful applicants ? lump sum repayment. In case applicant avails housing loan from the ban!, earnest money can be ad*usted from the same. no prepayment penalty will be levied.
26
an! may e:tent the period at its discretion by getting the amount of interest in advance.
In case of delay of allotment as per scheme, borrower shall repay amount in lump sum on demand, otherwise ban! will charge penalty. 3o4u1e!"s 3. $wo 8atest Photographs. 1. Proof of 'esidence in the form of Copy of Passport, Ariving 8icense, FoterJs IA Card etc. 6. $wo Post Aated Che"ues in favour of the an!. 5. Signature Proof. ;. orrower to give an authority that the representative of the ban! is to collect refund order#letter of intent#allotment letter on his behalf from the agency. 4. 8oan agreement. 7. Power of /ttorney. =. Aeclaration for signing in vernacular language.
2)
LOAN AGAINST /RO/ERT7

1( Shor" "&"leA e@"e!" #! 4o11e!4e1e!"?: i. $his scheme may be called Scheme of 8O/. /G/I.S$ P'OP9'$M+8/Pan! 8imited H Central Cooperative an!s only through an urban branch in the State of eneficiaries should be enrolled as .ominal
ii. $he scheme shall be implemented through the branches of the Pun*ab State Cooperative Pun*ab and shall be available to Individuals. Pun*ab, Chandigarh decides. 2( 3e%&!&"&o!s C In this Scheme unless the conte:t otherwise re"uires C a- /ctJ means, the Pun*ab Cooperative Societies /ct 3D43 as amended from time to time. b- I ye0lawsJ means the registered byelaws of the State # Central Cooperative concerned. c- I an!J means State#Central Cooperative an! registered under the /ct. d- ICommitteeJ means the Governing body of the Cooperative e- IGovernmentJ means Government of Pun*ab. fI.ominal @emberJ means a person admitted to membership of he ban! under /ct. 'ules and ye0laws. g- IOfficersJ means the President, Fice President, Chairman, Fice Chairman, @anaging Airector, @anager, 8i"uidator and /dministrator includes any other person empowered under the rules or the bye laws to give direction in regard to the business of the ban!. h- I'egistrarJ means a person appointed to perform the function of the 'egistrar of Cooperative Societies under the /ct. i*I'ulesJ means the Pun*ab Cooperative Societies 'ule 3D46. &amily member means Spouse, Son, SonJs wife, ,nmarried Aaughter. an! by whatever name called to which the management of the affairs of the ban! is entrusted. an!s
@ember of the ban!. It shall come into force from the date as the 'egistrar, Coop.Societies,
2,
SCHEME FOR GRANTING OF LOAN AGAINST /RO/ERT7
3( /ur2ose $he scheme is for providing finance against mortgage of immovable property situated at Chandigarh, ,.$. Periphery by Pun*ab State Cooperative ban! and at urban areas +within @unicipal 8imit- by Central Cooperative ban! through its urban branches, and is designed to offer instant solutions relating to socio0economic needs such as childrenJs higher education, travel, daughterJs marriage,medical emergencies, etc. $he loan will, however speculative purpose. 4( El&*&+&l&"' 3. /n individual residing in and having a self occupied immovable property in the area mentioned in the Purppse Clause no.6 may apply for the loan in his individual name or alongwith another person being *oint owner of the land#property as co0applicant. $he applicant and co0applicant, if any, will be enrolled as nominal members of the ban! under the /ct, 'ules and ye0laws. $he age of borrower should not e:ceed 4; years at the time of applying for the loan. 1. 9mployees of the PSC #ACC can avail this loan against property already mortgaged with the ban! by creating second charge of property sub*ect to the repaying capacity of the employee as per the scheme of loan. 5( T'2e #! Bu#!"u1 o% Lo#!? $he loan can be given in the shape of $erm 8oan or Credit 8imit. 8oan can also be given for both purposes i.e. partly for term loan and partly for credit limit sub*ect to "uantum of loan for both the loan and limit will not e:ceed from 's.1;.22 lacs. <uantum of loan will be three times of net annual income or ;2> of value of property, whichever is less. (owever ma:imum loan amount will be 's.1; lacs. Income of family member can be considered for the purpose of eligibility of loan. 6( I!"eres"? be not avail for
2-
Interest shall be charged E 36> p.a. compounded "uarterly or as may be revised by the ban! from time to time. In case of defaults a penal interest E 1> p.a. over and above the normal rate on the default amount and default period shall also be charged.
)( Se4ur&"'? a- Security for the loan is a first mortgage of the property, against which loan#limit is granted, by way of deposit of title deeds. $he valuation of the property will be based on the basis of last reserve price of the auction fi:ed by the Chandigarh /dministration. &or the properties situated out side the Chandigarh, it will be the official rates of registration fi:ed for the same by respective @unicipal or 'egistration /uthority or current mar!et value whichever is lower. b- Suitable one guarantee acceptable to the ban!. $he guarantor should have its net worth e"ual to or more than the loan amount to advanced. In case the income of family member is ta!en while calculating loan eligibility, he#she must be ta!en as guarantor. c- Post dated che"ues for the months for which repayment of term loan option is due. ,( Re2#'1e!" o% Lo#!? a- 8oan together with interest is repayable in ma:imum 71 e"ual monthly installments. b- Overdraft facility is to be renewed#reviewed annually. -( /ro4ess&!* Fees? 2.;> of the sanctioned amount shall be charged. In case of limit of 2.1;> will be levied every year on the credit limit. 1.. 3o4u1e!"#"&o!? a. 8oan application &orm. b. 8oan /greement. c. A.P. .ote. d. @ortgage Aeed.
3.
e. .on09ncumbrance Certificate. f. 8etter of lien and set off. g. @ap and Current Faluation 'eport of the property from Govt. /pproved /rchitect. h. Search report and legal opinion along with the photo. i. *. 8etter of continuity Original $itle Aeed.
11( I!sur#!4e? Comprehensive Insurance in the *oint names of the borrower and the ban! shall be made of the property mortgaged against fire, riots, earth"ua!e, lightning, floods, etc. In case of default ban! will be at liberty to get a policy renewed by debit to loan account of the borrower.
12( 3o4u1e!"s re5u&re %ro1 #22l&4#!"s? 3o4u1e!"s re5u&re %ro1 S#l#r&e I! &$& u#ls Proof of 'esidence ? /ny one of 'ation Card#$elephone ill#Foters Card. Proof of Identity ? /ny one of Foters Card#Arivers 8icense#9mployer Card#Passport#P/. Card. 8atest an! Statement#Passboo! +where salary#Income is credited for past 4 months-. 8atest 6 months Salary Slip with all deductions H &orm 34 for last 1 years. Copies of all Property Aocuments. Self attested recent passport siGe photographs of the applicant and co0 applicant +two-. Copy of Income0ta: 'eturns for last two years. ill#9lectricity
3o4u1e!"s re5u&re %ro1 "he !o!:s#l#r&e &! &$& u#ls Income proof. Proof of 'esidence ? /ny one of 'ation Card#$elephone ill#Foters Card. Proof of Identity ? /ny one of Foters Card#Arivers 8icense#9mployer Card#P/. Card. 8atest an! Statement#Passboo! +where salary#Income is credited for past 4 months-. ill#9lectricity
31
Copies of all Property Aocuments. Copy of Income $a: 'eturns for last two years.
13( 3&s2u"es If at any stage any dispute arises, it will be settled#referred under the Pun*ab Cooperative Societies /ct 3D43 or any other relevant act at the sole discretion of the an!.
SECON3 HAN3 =EHICLE LOAN SCHEME

In the modern era there is a heavy demand for purchase of second hand vehicles and the ban!s have surplus loan0able funds to diversify the loan portfolio and to provide financial assistance to the borrowers for purchase of second hand vehicle, this scheme has been diversified. A( Shor" "&"leA e@"e!" #! 4o11e!4e1e!"?: a. $his scheme may be called ISecond (and Fehicle 8oan SchemeJ to individual sole proprietor professional and partnership concern residing in the area of operation of the lending ban! by the State and Central an!s as the case may be. b. $he scheme shall be implemented through the branches of the State and Central Coop. an!s in ,$ and in the State of Pun*ab. c. It shall come into force from the date of approval by the 'egistrar Coop.Societies Pun*ab Chandigarh. d. $he vehicle to be purchased by the loanee should not be more than 6 years old, should be accident free, one time road ta: paid, bearing 'egistration .umber of ,.$. Chandigarh or the State of Pun*ab. B( 3e%&!&"&o!s C
32
In this Scheme unless the conte:t otherwise re"uires C a- /ctJ means, the Pun*ab Cooperative Societies /ct 3D43 as amended from time to time. b- I ye0lawsJ means the registered byelaws of the State # Central Cooperative concerned. c- I an!J means State#Central Cooperative an! registered under the /ct. d- ICommitteeJ means the Governing body of the Cooperative e- IGovernmentJ means Government of Pun*ab. fI.ominal @emberJ means a person admitted to membership of he ban! under /ct. 'ules and ye0laws. g- IOfficersJ means the President, Fice President, Chairman, Fice Chairman, @anaging Airector, @anager, 8i"uidator and /dministrator includes any other person empowered under the rules or the bye laws to give direction in regard to the business of the ban!. h- I'egistrarJ means a person appointed to perform the function of the 'egistrar of Cooperative Societies under the /ct. iI'ulesJ means the Pun*ab Cooperative Societies 'ule 3D46. an! by whatever name called to which the management of the affairs of the ban! is entrusted. an!s
C( /ur2ose 8oan shall be advanced for the purchase of second hand vehicle such as car, *eep, sumo, "ualis, etc. for personal#public use. 3( El&*&+&l&"' /n individual, sole proprietor, professional and partnership concern residing in the area of operation having permanent account number provided by the Income $a: authority in urban areas and in case of rural area having at least ; acres of agriculture land and should not be defaulter. $he applicant will be enrolled as nominal member of the ban! under the /ct, 'ules and ye0laws. E( Bu#!"u1 o% Lo#!? $he "uantum of loan shall depend upon the model and present value of the vehicle. Present value shall be the value as provided by Sah H Sanghi in the current price Inde: and also available on Website htpp.wwwautomartindia.com#Sah H Sanghi priceinde:.asp or the value approved by the registered surveyor of any GIC with the condition that the insurer has to get insurance cover from the concerned Insurance Company on whose list the name of the surveyor 33
appears, which is lowest shall be the "uantum of loan. $he ma:imum loan amount shall be 's.; lacs or 7;> of the assessed price of the vehicle whichever is less. F( I!"eres"? $he Interest rate shall be charged as decided by the ban! from time to time with "uarterly rests. In case of defaults a penal interest E 1> p.a. over and above the normal rate on the default amount for default period shall also be charged. G( /er&o o% Lo#!8Re2#'1e!" o% Lo#! @a:imum period of loan shall be five years. 'epayment of the loan shall, be in monthly e"uated installment. In case of urban borrowers and half yearly e"uated in case of rural borrowers due on 62th Bune and 63st Aecember. @oratorium period of one month shall be allowed under the scheme. H( Se4ur&"' $he security for the loan is 3 st (ypothecation of the Fehicle in the name of the ban! entered in 'C of the vehicle. $wo good sureties residing in area of operation of the ban! and having a P/. Card in case of urban areas and two sureties of the status of borrower in case of rural area. $he sureties shall be enrolled as nominal member of the ban! under the /ct.
O' / collateral security to the e:tent of 322> of loan in the shape of assignment of life insurance policy, pledge of .SCs, LFPs, $erm Aeposits of own ban!, in case the borrower is not willing to give sureties. I( 3&s+urs#l o% Lo#! $he loan will be disbursed after the appraisal of all legal documentation completed and borrower having deposited his share of margin in the S account. $he disbursement will be third party payment by way of ban!er che"ue#Aemand Araft in the name of the seller +owner of the vehicle- delivered through and under receipt from borrower. C( Fee #! O"her Ch#r*es / processing fee of 2.1;> of the loan amount sanctioned shall be charged. D. 3o4u1e!"#"&o!
34
Aocuments 3165;47Identity proof 'esidential proof $wo self attested recent passport siGe photographs of the applicant and sureties each Photocopy of the P/. Copy of Income $a: 'eturn for last three years duly ac!nowledged by I$O Photocopy of the Ariving 8icense / photocopy of the 'C of the Fehicle and case of rural people copy of &ard, Bamabandi.
b. 8oan application form c. 8oan agreement d. AP .ote e. (ypothecation deed#Collateral Security#/greement ond from Sureties. f. /greement of Sale. determined on the basis of guidelines of the Pun*ab Govt. on the Sub*ect. L. I!sur#!4e Comprehensive insurance in the *oint names of the borrower and the ban! shall be made at the cost of the borrower. In case of default ban! will be at liberty to get a policy renewed by debiting to loan account of the borrower. g. Certificate of present value of car assessed by Surveyor of company guide or as
COO/ERATI=E E3UCATION LOAN FACILIT7 FOR CHIL3REN OF /OOR FARMERSA 3ALITS8 BCs AN3 OTHER /OOR SECTIONS
$o provide financial assistance to deserving and meritorious students for pursuing higher studies in India or /broad. Cooperative an!s in Pun*ab has started a uni"ue Cooperative 9ducation 8oan &acility +C98-, policy for the children of poor farmers, dalits# Cs and other poor sections. /n individual wishing to pursue studies in technical#professional courses such as 9ngineering, @edical Feternary, Aental 8aw, /griculture, Computer, ICW/, C/, C&/, @anagement or any other course run by recogniGed university#institute#college of India or abroad can apply for financial assistance under this scheme. ELIGIBILIT7 /ge of Student
35
/n Indian .ational with minimum of 37 years and ma:imum 6; years of age can apply for this loan. /ge of &ather#Guardian $he age of &ather#Guardian should not be more than 4; years till full recovery of loan amount. 9ducation <ualifications @inimum "ualification for Cooperative 9ducation 8oan +C98- is plus two and the applicant must have secured at least ;2> mar!s in the last e:amination passed. /dmission to Course $he applicant must have secured admission or have got the consent of the institution to admit to any one of the above0mentioned courses. Auration of Course $he duration of course should not be more than ; years.
/UR/OSE OF LOAN $he loan shall be allowed for the following purposes. I. II. III. IF. F. FI. FII. FIII. IO. O. /dmission &ee Purchase of boo!s and stationery Purchase of instrument re"uired for course underta!en by applicant. 8aboratory charges, if any. @onthly#"uarterly tuition fee. 9:amination fee. 8ibrary charges Caution deposits# uilding &und 'efundable deposits, if any. 9:penses on pro*ects, if any 36
OI. OII. OIII. OIF.
oarding and 8odging e:penses Computer purchase, if re"uired. /ir fare for *oining the course +for study abroad-. /ny other e:penses to complete the study. /ll the above e:penses should be verified from college prospectus or letter from (ead of the concerned institution and or other relevant sources.
AMOUNT OF LOAN $he amount of loan will depend upon the e:penses involved in completion of course, sub*ect to the ma:imum of &or studies in India &or Studies /broad RATE OF INTEREST $he rate of interest on Cooperative 9ducation 8oan &acility +C98- shall be 7.1;> per annum. $his rate is however sub*ect to change from time to time. /ROCESSING CHARGES .o processing charges shall be charged under C98. 's.;.22 lacs 's.32.22 lacs
/ENALT7 FOR EARL7 CLOSURES .o penalty for early closure of C98. SECURIT7 .o collateral security is re"uired upto a loan of 's.1;222#0. $his loan shall be advanced against two good sureties. $he loan above 's.1;222#0 will be advanced against collateral security by the applicant#guardian. $he collateral security can be in the form of land#building .SC#LFP#8IC Policy# an! deposits in the name of student#parent#Guardian. $he valuation of the collateral security shall be e"uivalent to the loan amount. INSURANCE
3)
/n insurance policy will be ta!en on the life of the student borrower for an amount e"ual to the loan amount and should be assigned in favour of the ban!. CALCULATION OF LOAN AMOUNT $he loan amount shall be calculated by ta!ing into account the total e:penses of course as provided in prospectus of university#college#institute or letter signed by (ead of Institution sub*ect to ma:imum loan as provided in the loan scheme. 3ISBURSEMENT OF LOAN $he branch will get sanction of whole loan amount from competent authority but will disburse the amount based on yearly e:penses of course. In the first year, disbursement will be e"uivalent to the e:penses of first year only. Subse"uently, the loan amount for the ne:t year will be disbursed after successful completion of previous year. $he disbursement of loan should be by Aemand Araft# an! che"ue in favour of concerned university#college. In case of purchase of e"uipment#boo!s#computer the payment shall be made to the applicant. RECO=ER7 OF LOAN $he recovery of principal amount will start after one year of total duration of course or after 4 months of getting the *ob#employment by the applicant, which ever is earlier.
GENERAL GUI3ELINES Boint /pplication $he application for loan should be signed *ointly by student and father +mother, if father is not alive- or guardian. .ominal @embership oth applicants and sureties should become nominal members of an!. INCOME /ROOF
3,
$he loan amount shall also match with repaying capacity of borrower. &or chec!ing the repaying capacity of income proof of applicant +&ather#Guardian- should be verified. $he general guidelines are that monthly installment of loan amount should not e:ceed 6;> of monthly income. &or calculating the income future income of students should not be ta!en into consideration. 3OCUMENTS REBUIRE3 0ITH A//LICATION $he following documents are re"uired alongwith application. iiiiivvviviiIncome proof. 5 passport siGe photographs of all applicants. Proof of admission in course. Copy of 9ducation <ualification of Student. .ominal @embership of applicants and sureties. Schedule of e:penses of course.
ii- Proof of resident.
&or salaried persons +/dditional Aocuments3. 8atest salary slip showing all deductions. 1. 8atest $.A.S. certificate. 3OCUMENTS REBUIRE3 BEFORE 3ISBURSEMENT OF LOAN /fter the sanction of C98 and before the disbursement of loan following documents should be e:ecuted. i. 8oan /greement. ii. Surety bond by two sureties iii. 8etter of guarantee by father#guardian. iv. Collateral Security, if applicable.
v. Promissory .ote. vi. 8etter of lien and set off. vii. /ffidavit from father#guardian of applicant stating that C0 a. (e will be liable to ban! to repay the loan alongwith interest in case of default by applicant. b. (e will not go abroad permanently without the prior approval of ban!. c. (e will intimate the ban! in case of any change in status of studies of student.
3-
SCHEME FOR /RO=I3ING 3AIR7 LOAN FOR /URCHASE OF CO0 TO MEMBERS OF COO/ERATI=E MILD /RO3UCERSE SOCIETIES
1( O+Fe4"&$es : $o increase the income of members of Cooperative @il! Producers Societies helping them to purchase higher yielding cattle.
4.
$o increase the income and supply of mil! to Cooperative @il! Producers Societies.
2( M&!&1u1 E4o!o1&4 S&Ge $he Central Cooperative purchase of one cow. 3( El&*&+&l&"' Cr&"er&# I. II. III. IF. F. FI. $he applicant should be a member of cooperative mil! producerJs society. (e should have cattle shed arrangements enough to house the e:isting animals and also proposed to be purchased. (e should be the supplier of mil! to the society during at least past one year. (e should be the cultivating green fodder or should have definite arrangements for its supply. (e should have sufficient e:perience#!nowledge in the dairy farming. (e should be the nominal member of the Central Cooperative an! an! through its branches shall e:tend loan facility for the
4( A1ou!" o% F&!#!4e $he an! shall provide loan for one cow with ceiling of 's.;2222#0 or cost of the animal
whichever is less. 5( M#r*&!#l Mo!e' $he applicant shall contribute minimum 32> of the total cost of animal as margin money. (owever margin money for scheduled caste, bac!ward members shall be ;>. ac!ward Class and 9conomically
6( R#"e o% I!"eres"
41
$he ban! shall charge interest E 32.;> per annum from the members of the @il! ProducerJs Cooperative Societies which will be sub*ect to change as per prevalent mar!et rates from time to time. )( Re2#'1e!" o% Lo#! $he loan shall be repayable in ; years, in e"ual monthly installments along with interest. ,( Se4ur&"&es83o4u1e!"s $he member shall furnish the following security#documents to the Central Cooperative an!C ab$ime Pronote Guarantee by two persons, one should be owner of at least one acre of land and other should be local responsible person upto the satisfaction of the ban!. cd(ypothecation of mil! animal to be financed by the an!. (e shall sign and get signed tripartite /greement between the borrower, the Cooperative @il! ProducerJs Society and the an!. -( A22l&4#"&o! For1 $he application form for dairy loan will be submitted by the member on prescribed form as per anne:ure I/J through the Cooperative @il! ProducerJs Society. 1.( A22r#&s#l $he ranch @anager of the Central Coop. an! shall visit the farm to appraise the
technical feasibilities and economic viability of the proposal.. 11( /ro4e ure "o +e %ollowe /n eligible person shall apply for the loan on the prescribed proforma attached as /nne:ure %/) to the ranch @anager of Central Cooperative an! through the Fillage @il! Producer Cooperative Society. $he President of the @il! Producers Cooperative Society shall place the application before the @anaging Committee of the society for consideration of the application for its recommendation to the @anager of the ranch of the Central Cooperative an!. If the @anaging ranch Committee approves the application then the President shall forward it to the
an! in whose area of operation the
society falls. /fter the application along with resolution of the society is received in the branch of the ban!, the ranch @anager shall apprise the loan case as per the appraisal form
42
/fter the appraisal of the loan case the ranch @anager will sanction the loan and get the necessary documents e:ecuted from the borrower. /fter the e:ecution of documents the @anager shall disburse the loan amount by crediting the S account of the borrower.
43
"wkJh Gkr' fJ;sqh ;aesh ;ehw"

nkw ikDekoh fJj ;ehw Bpkov tZb'A ikoh ;t?o'iarko eo?fvN ekov ezg'fiaN b'B
KVIC/KVIB ns/ tZb'A gqk 'fis e!Nho "#$ 'r s'A gq/fos j? ns/ "#B% s'A
gqkgs ehs/ sZs% B!z gzikp $/ rokwhD "#$whn% bJh &k; eoe/ "#B% bJh fiB'% e'b ;fe"!foNh bJh e'Jh Tangible Property BjhA j?( eoe/ fsno ehsh rJh j?) "#$/;a* fJ; $k "#$/;a fgzav% ft+ ofj oj/ g#o;a ns/ fJ;sohn% B!z b,! -kJhB%; gq$kB eoBk j? .' e'Jh ezw feZsk eoBk +kj#z$/ jB) /fJj
Consumption Loan BjhA j?0 fJj fJZe Composite Loan j? fi; ft+ Capital Investment, working capital
nkf$ ;akwb jB) i/eo bkGgksoh e'Jh
gq've;aB1g?$ktko ;;oft; nkf$ $k ezw +#D$k j? .' fe KVIC/KVIB $h

egative list s'A pkjo j?( s% fJj eoiak e/; ft+ KVIC/KVIB s'A gqkgs !argin !oney "ubsi#y B!z gkqgs eoe/ bkGgksoh $/ &ks/ ft+ iw'% eotkfJnk ik
;e/rk) "k;st ft+ fJj ;ehw Bpkov tZb'A gfjb% s'A jh gqk 'fis Composite Loan ns/ ""C ;ehw B! P$C" $/ %&&ice s'A +bk"#D bJh pDkJh rJh j?) ft;a/;a 23 bkr! eoB tkbh J/iz;h* gqkJhwoh &/sh ;Gk1wbNhgogia ;Gk "#es eofian% $/ bJh 'CCB fiab'k e/A$oh p?Ae gk;'A 2445 (e&inance b?D $/ 'r j't/rh ) 'CCB B!z bkGgksohn% $/ eoiak e/;% B!z +?e eoB $k nf6eko j't/rk)
44
73
eoia/ $h jZ$* nkw s8o s/ 794441) o!* sZe eoia/ $h j$ B!z eko'pko1"#$w s'A j'D tkbh nkw$B $/ Bkb .'f:nk ikt/rk)
; ;j!bs $h fe;w* Now b'B i% tofezr e?fgNb i% Composite o!g ft+ fij' fijh iaao!os j't/) < ftnkia $h $o* = 22*
'CCB $h ;Gk bJh ftnkia $o
>* 7*
;Gk $k wkoiB 93
;Gk tZb'a w?po% s'A fbnk ikD tkbk ftnkia 22* n$kfJrh $k ;w%* Now b'B bJh 9 ;kb wjhBk( fswkjh i% f?wkjh fe;as% ft+ tofezr e?ghNb bJh ;bkBk BthBheoB) "wkJh Gkr' fJ;sqh ;aesh ;ehw" @3 rozNh* fe;/ ebhno1Bkb fv-kbNo w?Apo $h fBZih rozNh) +zrk j't/ i/ rozNo( ;Gk $k fiaazwh$ko w?Apo j't/ i% ;kfjp/ ikfJ$k$ ftnesh j't/) ft;a/;askt% 23 73 ;3 <3 fJ; ;ehw ft+ "#$wh B!z bkGgksoh wzfBnk frnk j? b% fe ezfia"!wo B!z)
P$C" s'a eoiak gqkgs eoBk ;ob j't/rk) P$C" bJh ?'N/ "#$wh $h g?kD eoBk ns/ "#; s'a (ecovery b?Dk Bank Branc+ $/ w?B/io $h fB;ps ;'&k ns/ gaGkt;akbh j't/r) C+airman, KVIB Bkb ;zgoe eoe/ P$C" B!z KVIC/KVIB tZb'A
gqktkfBs ftsh ;z;Ak n?bkfBnk ik ;e$k j? fi; Bkb 'r feZfsn% bJh !argin
!oney "ubsi#y th ;Gk e'b i% e/A$oh p?Ae e'b ,' $/ o!g ft+ gqkgs j'
;e/rh) ns/ bkGgksoh Capital Investment ns/ -orking Capital $'j% s/ 79* i% ;4* ;pf;vh ti'A gkqgs eo ;eDr/ ) bkGgksoh 9* s' 24* sZe ngB/ fjZ;/ ti'A bk"#Dr/ ns/ "#jB% B!z w#-as N/afBzr th $/t/rk)
45
gzikp $/ e/A$oh ;fjekoh p?Ae gfjb% jh KVIC tZb'A e!Nho "#$ 'r bJh foD $/D bJh gqktkfBs jB) e/tb 794441B sZe $/ b,! -kJhB%; bJh ;Gk B!z p?Ae $/ %utlet i% $gency tZb'A gqtkB j'D Bkb ;Gk KVIB gk;'A bkGgksoh bJh !argin !oney "ubsi#y gqkgs eoB bJh 8r ns/ ;woZA j' ikt/rh)
. j??) . .
"#B% B!z f;js phwk nkf$ ;ehw% ft+ ;akwb ehsk ns/ bkG f$Zsk ik ;e$k
Bpkov s'A Composite Loan "c+eme n6hB gqkgs ehsk ik ;e$k j?) ;ehw $h gqrsh ns/ !onitoring p?Ae i% ;oeko okjhA ehsh ik ;e$h j?)
COMMERCIAL DAIRY DEVELOPMENT SCHEME

%b/ective To increase the income of Milk Pro !cers "# hel$in% them to $!rchase hi%h #iel in% milch cattle an to $!rchase necessar# e&!i$ments for the $!r$ose' !inimum 0conomic "i1e The Central Coo$erati(e )anks thro!%h its "ranches shall e*ten in i(i !als+ Partnershi$ ,irms+ Cor$orate )o ies an Or%ani-ations forme cattles+ constr!ctions of she s an loan facilit# to the
an# other Coo$erati(e
for Commercial Dair# De(elo$ment to $!rchase the milch for necessar# e&!i$ments !n er this scheme'
46
Loan shall "e a (ance
irectl# "# the Central Coo$erati(e )ank to the loanee "#
a mittin% them as a nominal mem"er' 0ligibility Criteria .' /' 2' He sho!l ha(e s!fficient cattle she arran%ements to ho!se the
animals if an# an also ho!se to "e $!rchase o!t of loan' He sho!l ha(e s!fficient e*$erience0kno1le %e in air# farmin%' He sho!l ha(e efinite arran%ement for %reen0fo er s!$$l#'
$mount o& ,inance The )ank shall $ro(i e ma*im!m loan !$ to /3'44 lacs' The cost of milch cattles sho!l not e*cee Rs'/4+44405 for each animal or as eci e "# the )ank from time to time' !argin !oney The a$$licant shall contri"!te minim!m .36 of the total cost of the animal an e&!i$ment as mar%in mone#' (ate o& Interest The )ank shall char%e interest at .46 $er ann!m 1ith half #earl# rests or as eci e "# the )ank from time to time' C%!!0(CI$L '$I(2 '0V0L%P!0 T "C30!0 "ecurities The Loanee shall f!rnish the follo1in% sec!rities7 .' Time Pronote /' 8!arantee of t1o $ersons 1ho sho!l "e nominal mem"ers of the "ank' 2' Mort%a%e of A%ric!lt!re Lan+ Plot+ Resi ential Ho!se an (al!e of the lan shall "e same as etermine Commercial Pro$ert# 1hose (al!e not less than .346 of the loan amo!nt' The "# the District A ministration P!n9a"' :' H#$othecation of milch cattle animals an e&!i$ments to "e finance "# the )ank'
4)
(epayment o& Loan Ma*im!m $erio of re$a#ment of loan is fi(e #ears' $ppraisal The )ranch Mana%er of the Central Coo$'"ank shall (isit the farm to a$$raise the technical feasi"ilities an economic (ia"ilit# of the $ro$osal' Proce#ure to be &ollowe# An eli%i"le $erson shall a$$l# for the loan on the $rescri"e $roforma attache %et necessar#
here1ith to the )ranch Mana%er of Central Coo$erati(e )ank' After the a$$raisal of the loan case the )ranch Mana%er 1ill sanction the loan an oc!ments from the )orro1ers' After e*ec!tion of The Mana%er shall oc!ments the )ranch Mana%er
shall %et the mar%in mone# e$osite from the a$$licant in his Sa(in% )ank Acco!nt' is"!rse the loan thro!%h Draft0Pa# Or er0Che&!e in fa(o!r of thir $art# from 1hom the "orro1er has to $!rchase "!ffaloes0co1s an e&!i$ments "# e"itin% the loan acco!nt for then loan an sa(in% acco!nt for mar%in mone#' Insurance The li(estock an e&!i$ments finance !n er the scheme shall "e f!ll# ins!re an it sho!l "e clearl# mentione in the Ins!rance Polic# the li(estock is h#$othecate 1ith ,inancin% )ank'
PPPPPPPPPPPPP
4,

Loan Schemes

Caricato da

Informazioni sul documento

Descrizione originale:

Copyright

Formati disponibili

Condividi questo documento

Condividi o incorpora il documento

Opzioni di condivisione

Hai trovato utile questo documento?

Questo contenuto è inappropriato?

Copyright:

Formati disponibili

Loan Schemes

Caricato da

Copyright:

Formati disponibili

RURAL HOUSING LOAN SCHEME

Individuals Cooperative (ousing Societies

5. Ceiling on the cost

;. <uantum of an! loan for Individual

SCHEME FOR FINANCING RURAL HOUSING

SCHEME FOR FINANCING RURAL HOUSING

D. Sanction and disbursement of 8oan

32. Processing &ee H Other Charges

33. Aocumentation H general re"uirements.

URBAN HOUSING LOAN SCHEME

PSC #Central Cooperative ban!s concerned and shall be limited to

an! registered under the an! by

whatever name called to which the management of the affairs of the

SCHEME FOR URBAN HOUSING LOAN SCHEME

!- &amily member means Spouse, Son, SonJs wife, ,nmarried Aaughter.

/n individual residing in the area of operation of the

an! may apply for the

7. Period of 8oan# 'epayment of 8oan

SCHEME FOR URBAN HOUSING LOAN SCHEME

not be bound to accept progress construction as assessed by

32. &ee H Other Charges 33. Aocumentation ? Pre0sanction Stage.

/ processing fee E2.1;> of the loan amount sanctioned will be charged.

SCHEME FOR URBAN HOUSING LOAN SCHEME

32. 33. 31.

Post ? Sanction Stage

36. /dditional Aoc0 uments in construction cases

35. In purchase of uilt ,p (ouse cases.

1. /ge 6. Service $enure 5. 8oan 8imit ;. $enure 4. Processing &ee

@inimum 13 years and @a:imum ;7 years.

3 year after the confirmation#regulariGation.

3; times of gross monthly salary or 's.5 lacs, whichever is less.

7. 'ate of Interest =. 'epayment of 8oan

/s decided by the an! from time to time with "uarterly rests.

D. Security 32. Option to prepay loan 33. General

T0O 0HEELERS LOAN TO FARMERS

d- .umber and $ype of Fehicle to be financed.

3( 3o4u1e!"s re5u&re w&"h A22l&4#"&o! For1

ranch @anager will ensure the networth of

ranch @anager must ensure the timely repayment of loan by the

CONSUMER 3URABLE LOANS 6SALAR78NON SALAR7 EARNERS9

&or category +d- copy of previous year income0ta: return is essential.

CONSUMER 3URABLE LOANS 6SALAR78NON SALAR7 EARNERS9

CASH CRE3IT FACILIT7 TO TRA3ERS < OTHERS

oard of Airectors and the 9:ecutive Committee means the

an! to receive and ta!e appropriate action on the

CASH CRE3IT FACILIT7 TO TRA3ERS < OTHERS

$he sanctioning of the Cash0Credit by the

an! shall be made only in case it is

an! shall be at liberty to call for additional#collateral security#securities at any

'ule .o.3= 'ule .o.3D 'ule .o.12

$he cost of the vehicle shall be paid directly by the applicant.

an! to the suppliers or

'ule .o.; 'ule .o.4

COO/ RENT > LOAN AGAINST RENTAL INCOME SCHEME

COO/ RENT > LOAN AGAINST RENTAL INCOME SCHEME

an!Js own deposits to the

LOAN SCHEME FOR EARNEST MONE7

LOAN SCHEME FOR EARNEST MONE7

LOAN SCHEME FOR EARNEST MONE7

LOAN AGAINST /RO/ERT7

SCHEME FOR GRANTING OF LOAN AGAINST /RO/ERT7

SCHEME FOR GRANTING OF LOAN AGAINST /RO/ERT7

SECON3 HAN3 =EHICLE LOAN SCHEME