Loans & Advances
Our loan schemes are generally meant for Small and Medium size industries, business firms, agriculturists, salaried class, labourers etc. and is aimed to cover almost all the sections of people of our area.
Loans upto ₹ 50 lakhs are sanctioned to Members on the security of mortgage of landed property either as principal security or as collateral security. The period of loans will be upto 8 years. The amount and period of loan that can be sanctioned is arrived by considering the the repayment capacity of the borrower and purpose of loan. This type of loans are sanctioned for the following purposes
Loans upto ₹ 1 lakh is allowed under this scheme to the members for various purposes. Three members are to be involved in this scheme, one principal borrower and two sureties. The loan amount that can be disbursed is calculated based on the income of the borrowers. Such loans will be sanctioned on the security of LIC policies, NSC etc. The repayment period will be upto 5 years (conditions apply).
There are Six schemes for Gold Loans
Loans upto 80% of the total deposited amount is sanctioned as loans on the security of various term deposits. Please contact the branches for more details.
Home loans are sanctioned for Construction, Purchase of houses. Loans are sanctioned for alteration, addition etc. also. Please contact the branches for more details
Term loans for Self Help Groups and Joint Liability Groups
Loans to Autorikshaw Owners and Taxi Owners for meeting the yearly costs for obtaining a fitness certificate
Loans for purchase of Cars
Loans to women members to purchase two wheelers
Loans to students for purchase of bicycles.
Loans to merchants for purchase of POS machines.
Group Loans to Merchants.
Loans to women members.
Loans for purchasing smart gadgets and electronic appliances.
All the following cash credit schemes comes with CTS Cheques, ECS, and CTS Clearing Facility. Generally, Cash credits are allowed originally for 1 year and renewed on due date.
Cash credit accounts specially formulated for working capital purposes for small and medium businesses. Such cash credits are sanctioned on the security of Landed Property, hypothecation of machinery, stock etc., collateral securities, LIC policy, NSC. Limits are sanctioned based on the volume of business. Please contact branches for more details
Limits upto 80% of the deposited amount are allowed to the depositors as cash credit if there is more than 1 year to become the deposits due.
An innovative cash credit scheme under which Gold Ornaments are taken as security for sanctioning a cash credits. The ornaments are allowed to replace with other ornaments once in three months, but without reducing the original weight pledged.
(As a Co-operative Bank, an applicant must be a member of the bank for availing a facility under loans and advances. Moreover, for secured loans, she/he must possess at least 2.5% of the loan amount as share capital in the Bank. For unsecured loans, the share linking is 5%.)
For details of membership, please see Members area
Head Office
P.B.No. 28, Bus Stand Building,
Feroke (PO), Kozhikode Dt.
Kerala State, PIN : 673631
Phone No. 0495 2486311
E-mail : ho@ferokebank.in
2019 © Feroke Bank All Rights Reserved.
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