A consumption loan single scheme is a type of personal loan provided to individuals to meet their financial requirements. This loan is suitable for large purchases, debt consolidation, emergency expenses, and much more. The repayment can be made in monthly installments for a pre-defined period.
Eligibility
- ‘A’ or ‘D’ Class Membership in Areekode Service Co-operative Bank
- Surety of 2 ‘A’ or ‘D’ class members in the bank
Documents Required
- Loan Application
- Sureties ID proofs and Passport size photo
- ID Proof of Loanee
- 2 Copy of Passport Size Photo (Loanee)
The bank will sanction a maximum of ₹ 50,000 at an 11.50% p.a (monthly remittance) interest rate. The repayment period is 12 months.