Abhyudaya Co-operative Bank Personal Loan Interest Rates

Abhyudaya Co-operative Bank Personal Loans are available at an extremely competitive rate of interest. The bank charges a rate of interest between 13.50% p.a. and 14% p.a., depending upon the customers job profile and credit standing. The personal loan interest rate is charged at a floating rate and is linked to the Prime Lending Rate. The rate of interest charged for both salaried and self-employed remains the same. However, the variations in interest rates are linked to the amount and type of surety.

The Personal Loan offered by Abhyudaya Co-operative Bank can be differentiated on the basis of whether it is secured by a surety and collateral or not.

The different types of Personal Loans available are:

• Personal Loan with Surety
• Personal Loan against Pledge of Gold Ornaments
• Personal Loan against Government Securities

To check for an Abhyudaya Co-operative Bank Personal Loan eligibility criteria. The applicant must fulfill the conditions in order to avail a Personal Loan from Abhyudaya Co-operative Bank. The eligibility conditions are:

1. Both salaried and self-employed individuals are eligible for a Personal Loan from Abhyudaya Co-operative Bank.
2. Salaried individual must be a permanent employee of the company
3. The minimum take home income/ salary of the applicant after EMI payment must be:
   • For loan up to 1 Lakh Rs 7,000 per month.
   • For loan above 1 Lakh up to 2 Lakhs: Rs 8,000 per month.
   • For loan above 2 Lakhs up to 5 Lakhs: Rs 9,000 per month.

In order to avail a Personal Loan from Abhyudaya Co-operative Bank, the applicant must submit the following documents. Please note that all documents must be self-attested by the applicant and guarantor(s).

A Personal Loan from Abhyudaya Co-operative Bank attracts the following charges:

EMI is the monthly expense that is incurred in order to repay a Personal Loan. Therefore, it is important to know the EMI installment beforehand so that one can repay the loan without any kind of financial stress. Prospective borrower can use the EMI Calculator available on MyMoneyMantra to check the EMI payout corresponding to entered principal, term and rate of interest values.

The MyMoneyMantra EMI Calculator can be used in the following way:

• Log on to the official website of MyMoneyMantra
• Featuring in the header bar is the link Financial Tools
• Click on Financial Tools and select EMI calculator from the drop-down menu
• Enter values for the principal amount, rate of interest and desired loan term
• Submit the information
• EMI amount for the entered values will appear on the screen
• Make changes in the values to reach an ideal EMI amount.

Abhyudaya Co-operative Bank customer can reach the bank through the following channels:

Customer Care Number: Call 022-24115047 or 022- 24105097

Email ID: secretarial@abhydayabank.net