Special Schemes for Women’s

Short Title:

The Loan Scheme would be called as “Education Loan for Girl Child”.

Operative Area of the Scheme:

Entire Andaman & Nicobar Islands.

Beneficiaries:

All members who are having account with the A&N State Cooperative Bank.
Purpose of the Scheme: To provide financial assistance in the form of loan to needy parents to meet education expenses (higher education).

Quantum of Loan:

Depending on the requirement subject to a maximum of Rs. 3,00,000.
Margin / Beneficiary Contribution: Nil

Security:

(a) DDO undertaking, in case the salary account is not maintained with the Bank.
(b) In case the salary account is maintained with the Bank, authorization letter to the Bank authorizing the Bank to deduct the monthly installment along with the interest thereof from the salary account maintained with the Bank.
(c) Two personal guarantors / mortgage of landed property.
Rate of Interest: @ 11{3f6fc27b7d854a6d11d1a3aff0be80f521428168aac3c68744a82bcc1a5c181a} p.a. subject to revision from time to time
Processing Fees: As per the existing norms.
Repayment Period: 3 years from the date of disbursement. The principal amount has to be repaid in 36 monthly installments along with interest.

Documents to be submitted:

(a) Prescribed Loan Application.
(b) DDO undertaking in case the salary account is not maintained with the Bank.
(c) In case the salary account is maintained with the Bank, authorization letter to the Bank authorizing the Bank to deduct the monthly installment along with the interest thereof from the salary account maintained with the Bank.
(d) Permanent Residential Proof like Islander Card or Ration Card or Local Certificate or Aadhar Card.
(e) Deed.
(f) Land Documents in the case of collateral security.
(g) Estimate from institution for admission fees and hostel charges etc.
(h) All related educational documents/certificates.

Other Terms & Conditions:

(i) The borrower should open a Recurring Deposit Account of Rs. 500 p.m. for a period of 3 years.
b. The borrower has to enroll himself/herself as a D’ Class Shareholder of the Bank by taking the shares applicable to the D’ Class member.

Short Title:

The Loan Scheme would be called as “Marriage Loan for Girl Child”.

Operative Area of the Scheme:

Entire Andaman & Nicobar Islands.
Beneficiaries: All members who are having account with the A&N State Cooperative Bank.
Purpose of the Scheme: To provide financial assistance in the form of loan to needy parents to meet marriage expenses.
Quantum of Loan: Depending on the requirement subject to a maximum of Rs. 3,00,000.

Margin / Beneficiary Contribution:

Nil

Security:

(a) DDO undertaking, in case the salary account is not maintained with the Bank.
(b) case the salary account is maintained with the Bank, authorization letter to the Bank authorizing the Bank to deduct the monthly installment along with the interest thereof from the salary account maintained with the Bank.
(c) Two personal guarantors or mortgage of landed property.
Rate of Interest: @ 11{3f6fc27b7d854a6d11d1a3aff0be80f521428168aac3c68744a82bcc1a5c181a} p.a. subject to revision from time to time
Processing Fees: As per the existing norms.

Repayment Period:

3 years from the date of disbursement. The principal amount has to be repaid in 36 monthly installments along with interest.
Documents to be submitted:
(d) Prescribed Loan Application.
(e) DDO undertaking in case the salary account is not maintained with the Bank.
(f) In case the salary account is maintained with the Bank, authorization letter to the Bank authorizing the Bank to deduct the monthly installment along with the interest (a) from the salary account maintained with the Bank.
(g) Permanent Residential Proof like Islander Card or Ration Card or Local Certificate or Aadhar Card.
(h) Guarantee Deed.
(i) Land Documents in the case of collateral security.
(j) Marriage Invitation card.
(k) Receipt of marriage booking hall.
(l) Birth certificates of Bride & Bridegroom.
(m) A copy of Marriage Certificate from the Registrar of Marriage to be submitted after marriage on registration with the Marriage Registrar.
Other Terms & Conditions:
(a) The borrower should open a Recurring Deposit Account of Rs. 500 p.m. for a period of 3 years.
(b) The borrower has to enroll himself/herself as a D’ Class Shareholder of the Bank by taking the shares applicable to the D” Class member.

Short Title:

The Loan Scheme would be called as “Medical Treatment Loan for Women”.

Operative Area of the Scheme:

Entire Andaman & Nicobar Islands.

Beneficiaries:

All members who are having account with the A&N State Cooperative Bank.
Purpose of the Scheme: To provide financial assistance in the form of loan to needy women to meet medical expenses.
Quantum of Loan Depending on the requirement subject to a maximum of Rs. 3,00,000.

Margin / Beneficiary Contribution:

Nil

Security:

(a) DDO undertaking, in case the salary account is not maintained with the Bank.
(b) In case the salary account is maintained with the Bank, authorization letter to the Bank authorizing the Bank to deduct the monthly installment along with the interest thereof from the salary account maintained with the Bank.
(c) Two personal guarantors or mortgage of landed property.
Rate of Interest: @ 11{3f6fc27b7d854a6d11d1a3aff0be80f521428168aac3c68744a82bcc1a5c181a} p.a. subject to revision from time to time
Processing Fees: As per the existing norms.
Repayment Period: 3 years from the date of disbursement. The principal amount has to be repaid in 36 monthly installments along with interest.
Documents to be submitted:
(d) Prescribed Loan Application.
(e) DDO undertaking in case the salary account is not maintained with the Bank.
(f) In case the salary account is maintained with the Bank, authorization letter to the Bank authorizing the Bank to deduct the monthly installment along with the interest thereof from the salary account maintained with the Bank.
(g) Permanent Residential Proof like Islander Card or Ration Card or Local Certificate/Adhar card.
(h) Guarantee Deed.
(i) Land Documents in the case of collateral security.
(j) Certificate from Registered Medical Practitioner/Health department or any other Govt. Hospitals.
(k) Estimate amount from the Hospital authorities.

Other Terms & Conditions:

(a) The borrower should open a Recurring Deposit Account of Rs. 500 p.m. for a period of 3 years.
(b) The borrower has to enroll himself/herself as a D’ Class Shareholder of the Bank by taking the shares applicable to the D’ Class member.

Short Title:

The Loan Scheme would be called as “Loan for Private Working Women”.

Operative Area of the Scheme:

Entire Andaman & Nicobar Islands.

Beneficiaries:

All women who are working in private organization/institution, shops, mall, petty shop, hotels, housemaid servants etc. having account with the A&N State Cooperative Bank.

Purpose of the Scheme:

To provide financial assistance in the form of loan to needy women to meet certain unforeseen expenses like purchase of mobile, house repair, purchase of household article including jewellery, medicinal use, other small purposes etc.
Quantum of Loan Depending on the requirement subject to a maximum of Rs. 25,000.

Margin / Beneficiary Contribution:

Nil

Security:

(a) Two personal guarantors.

Rate of Interest:

@ 11{3f6fc27b7d854a6d11d1a3aff0be80f521428168aac3c68744a82bcc1a5c181a} p.a. subject to revision from time to time

>Processing Fees:</p As per the existing norms.

Repayment Period:

3 years from the date of disbursement. The principal amount has to be repaid in 36 monthly installments along with interest.

Documents to be submitted:

(a) Prescribed Loan Application.
(b) Permanent Residential Proof like Islander Card or Ration Card or Local Certificate or Adhar Card.
(c) Guarantee Deed.
(d) Income certificate from concerned working place.
(e) Certificate from the Ward Councilor/Pradhan in the case of housemaid servants.

Other Terms & Conditions:

(f) The borrower should open a Recurring Deposit Account of Rs. 200 p.m. for a period of 3 years.
(g) The borrower has to enroll himself/herself as a D’ Class Shareholder of the Bank by taking the shares applicable to the D’ Class member.

Short Title:

The Loan Scheme would be called as “Personal Loan to SHG Members through SHG “.

Operative Area of the Scheme:

Entire Andaman & Nicobar Islands.

Beneficiaries:

All members of SHGs having account with the A & N State Cooperative Bank. The SHGs which have completed two years actively after credit linkage, will be eligible for obtaining and extending such loans.

Purpose of the Scheme:

To provide financial assistance in the form of loan to needy members of SHGs to meet certain unforeseen expenses like payment of fees in connection with the education of self/spouse /children , medical treatment of family members , house repair , purchase of household article including jewellery , etc.
Quantum of Loan Depending on the requirement subject to a maximum of Rs. 50,000/- per member.

Margin / Beneficiary Contribution:

Nil

Methodology of Selection of Beneficiaries & Sanctioning of Loan:

(a) The Needy SHG member should apply to the concerned SHG in which she /he is a member.
(b) The SHG in turn would forward the Application to the concerned Branch of the Bank with necessary recommendation.
(c) The concerned Branch Manager would scrutinize the Application taking in to account the past performance of the SHG in repayment of the earlier loan/s availed.
(d) The Branch would sanction the amount if the quantum of assistance is within his /her sanctioning powers delegated by the Head Office. In case the loan amount exceeds the Branch Manager’s powers, then the Application along with the Branch Manager’s specific recommendation for sanctioning of the loan would be forwarded to HO for their consideration.

Security :

(a) Demand Promissory Note along with inter-se agreement to be signed by all the members of the group.
(b) It will be the responsibility of the SHG to recover the dues along with the interest thereof and remit the same to the Bank.
(c) The SHG would give an undertaking to the effect that in case of default by the borrowing , all the remaining members would be liable to repay the amount with interest to the Bank.

Rate of Interest:

@ 11{3f6fc27b7d854a6d11d1a3aff0be80f521428168aac3c68744a82bcc1a5c181a} p.a.

Processing Fees:

As decided by the Bank from time to time.

Repayment Period:

3 years from the date of disbursement. The principal amount has to be repaid in 36 monthly installments along with interest.

Micro Insurance:

The borrower should enroll himself /herself in the Micro Insurance Scheme of the Bank.

Documents to be submitted:

a. Prescribed SHG Loan Application
b. Understanding from all the members of the SHG with an assurance to repay the loan outstanding along with the interest thereof in case of default by the borrowing member.

Other Terms & Conditions:

(a) Since the loan is routed through SHG, the group should maintain separate loan ledger which would be inspected by the Bank Staff as and when required.
(b) Any repayment of principal and /or interest received from the borrowing member/s should be remitted immediately to the Bank. In other words, the SHG does not have any right to recycle the repayments received under such personal loans.
* Conditions Apply