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The Co-Operative Bank of Rajkot Ltd.
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The Key Elements of our strategy are
› Sharing the vision
› Structuring Resources
› Transparent Management
› Capitalize business opportunities
› Leverage our brand
› Distribution capability
› Proactively Adopt Technology
› Devlope Human Capital
› Expansion a profitable Business › Expansion is the way of life
FAQ'S
Loans and Advances
BulletHow much time it takes an advance to get sanctioned in the bank?
• It depends upon the amount of the advance applied for since applications for the higher amount requires approval at higher levels of the bank and therefore, in such case, little more time is taken. Nevertheless, the bank endeavours to dispose of the advances-applications within 30 days at all levels.

BulletHow can I approach the bank for an advance ?
Raj Bank has one of the largest network of spread over all saurashtra , Ahmedabad ,surendranagar and Jamnagar . All these branches are manned by highly experienced & skilled personnel ever ready to be of service to the customers. All you have to do to simply approach our any branch-manager, apprise him / her of your need, and, he / she shall be too glad to guide you how to proceed further according to your specific needs.

BulletWhat types of credit facilities bank can provide to assist my business needs?
Raj Bank has a very wide bouquet of types of credit facilities which can be tailor-made to suit your specific requirements. In
a nutshell, the Bank offers :

A) Working Capital finance by way of :
Cash Credit Overdraft •  To provide cash / funds to procure stock, raw material, consumables, stores & spares;
•  To provide cash / funds to meet business expenses;
•  To replace high cost existing borrowings from other banks / lenders for the above said purpose.
Bank Guarantee To provide Bank guarantee to any company or firm with the minimum margin .

B) Long term finance by way of :
Short & Long term Loans To provide cash / funds to facilitate purchase of fixed assets, such as, building, plant & machinery, equipments, furniture & fixtures, business vehicles, and other related assets and the supplier is ready to supply the assets on credit.

BulletWhat is the minimum & maximum period for which I can avail advance from the Bank?
The Minimum period for which an advance may be sanctioned starts is 15 days. The maximum period for which an advance can be sanctioned depends upon:-
»  The Debt Service Capacity of the borrower reckoned from the cash flow from the business operations; and,
»  The purpose of the advance.
    Usually, the advances for Working Capital requirements are sanctioned for a period up to one year subject to renewal on     satisfactory conduct of the relationship. The advances for acquisition of fixed assets are sanctioned for a period longer than     one year stretchable up to 7 years.

BulletHow the advance is required to be repaid ?
»  For Working Capital advances, the advance is expected to be liquidated within the period for which it is sanctioned along with     the timely servicing of interest as per the agreed terms.
»  For advances to acquire fixed assets, the repayment is agreed as per the repayment capacity reckoned with the expected     cash flow from the business operations, and, therefore, it can be equal monthly payment along with the timely servicing of     interest as per the agreed terms.

BulletWhat should I do if the branch, I approached, has not responded satisfactorily ?
Raj Bank has a highly dedicated customer friendly team of personnel. Therefore, such a situation is usually imperceptible except that there may very scarcely arise communication gap. In such cases, you may immediately contact any of the following for expeditious redress of the grievance:
a. Asst General Manager
b. Dy General Manager
c. General Manager & CEO
d. Our e-mail address : info@rajbank.net

BulletIf my company is enjoying credit facilities from other banks and because of temporary mismatch of cash flows
   or some unforeseen exigency, my company desires short term advance, whether my company can approach
    your bank ?
Yes, Raj Bank believes in building new relationships and then to maintain them for mutual growth & prosperity. Therefore, we welcome a customer even if it has not been banking with our bank.

BulletWhether the bank finance for development of real estate such as housing complex, shopping complex etc.
Yes, Raj Bank has set an ambitious target to provide finance for real estate sector which is vital segment for a growing economy in a developing country like India.

Housing Loan

BulletCan I avail of Home Loan from Raj Bank ?
Yes, you can avail a Home Loan from Raj Bank, if you plan to construct or purchase a house/flat or extend your existing house/flat and,you are :
»  A minimum of 21 Years
»  Employed or self Employed with regular Income
»  You have to produce all papers and documents as per requirement of the Bank
»  Repaying capacity can meet your EMI

BulletHow much does Raj Bank lend ?
Loan amount is determined on the basis of the repaying capacity of the applicant/s. Repaying capacity takes into consideration factors such as age, income, dependents, assets, liabilities, stability of occupation and continuity of income, savings etc.
The maximum loan would be given as prescribed by the RBI and board of director per unit to any individual applicant.

BulletFor how long a period can I get the loan ?
We grant term upto a maximum of 10 years. The term for the loan will under no circumstances exceed the age of retirement or completion of 58 years of age, whichever is earlier.

BulletBut can I prepay the loan ahead of schedule ?
Yes, you have the option to prepay the loan ahead of schedule either in part or in full from your own sources.

BulletWhat is the mode of repayment ?
Equated Monthly Installment (EMI) : It means a uniform lumpsum amount, which includes repayment of a part of the principal amount and payment of interest, calculated on daily products basis.
or
Fixing the monthly / quarterly installments on graduated basis is permitted of EMI as requested by customers.

BulletWhat is the security for the loan ?
The security for the loan is registered mortgage of the property to be financed. You will also be required to furnish guarantee by two individual/s of sound financial standing acceptable to us.

BulletWhat are the supporting documents required while applying for the loan ?
I. Common requirements for all applicants.
»  Simple Application form duly filled in (with photograph of all the applicant).
»  Residence and Age verification, which may be established from the PAN card, Election ID, Passport, Drivers licence and      Ration card etc.
»  Copy of approved plan and sanction letter from local civic authority.
»  Copy of NA permission.
»  Two guarantor/s form/s and salary certificates. - If guarantor is in business, copies of I.T. returns or assessment orders for the     last three years are required.
»  Bank Pass-book of statements for the last two years.
»  Latest salary slip/statement showing all deductions in case of employed applicants.
» Certified copies of Balance Sheets and Profit and Loss accounts, IT acknowledgments, advance tax challans (for both         company/firm and personal account) for the last three years in case of self employed applicants.
»  Memorandum/Articles of Association for companies, partnership deeds for firms and a brief profile of your company/firm in     case of self employed applicants.

II. Additional requirement.
A. (In case of purchase from builder)
»  Copy of Agreement for sale.
»  Copy of registration receipt.
»  Copy of sanctioned plan & sanction letter of the competent authorities.
»  Copy of NA permission/ULC order.
»  Copies of receipts of payments already made.
»  NOC from builders in our format.
»  All the documents related to the property starting from NA

B. (In case of direct allotment in a Co-operative Housing Society)
»  Allotment letter.
»  Share certificate.Society registration certificate.
»  Copy of sale/lease deed in favour of the society.
»  NOC from society in our format.
»  Possession letter in original.
»  All the documents related to the property starting from NA

C. (In case of resale)
»  Copy of all previous vendors agreements duly stamped and registered and the registration receipts. (original to be given      before disbursement).
»  NOC from Society/Builder in our format.
»  Original Share Certificate.
»  Satisfaction of charge of register mortgage if the loan was taken on the property.

ATM Card

BulletWhat is a ATM Card ?
ATM Card is an electronic purse, which allows the holder to withdraw cash from ATMs.

BulletWhat is the difference between a Credit Card and a ATM Card?
The basic difference between a Credit Card and a ATM Card is that the ATM Card gives the customer access to his own money whereas the credit card is a form of loan and allows line of credit offered by the Bank. As in case of ATM Card, there will be on line debit to the customer’s account,

BulletWho are eligible to get the card ?
Individual Savings and current Account holders, (except Minors), who are eligible for CHEQUE book facility are eligible to get the Card.

BulletWill customers be entitled to get an additional card in case of joint accounts?
All the joint account holders, if the operating instructions in the account are ‘either or survivor’, are eligible to get an additional card in his/her own name.

BulletWhat are the charges for issuing of a ATM Card?
There are no charges for issuing a ATM card to primary account holder and one subsequent account holder. In case card is required by more than one joint account holder, one time charge of Rs 100/- is payable.

BulletWhat will be the validity period of the Card ?
The card will be valid for 3 years from the date of issue and it will be valid upto the last day of the month of validity.

BulletWhat should customer do on receipt of ATM Card ?
Customers are advised to prevent any possible misuse, even before delivery of Card to customer, it has been made mandatory that Customer should first use the Card at ATM, which requires PIN to be entered.

BulletWhat is PIN ?
PIN is a FOUR Digits Personal Identification Number, which is issued to the customer in a CLOSED Jacket and is delivered to him separately. Customers are requested to ensure that PIN jacket is received by them INTACT and they are also requested to change his PIN immediately. Under no circumstance, PIN should be divulged to any one including to any official from the Bank.

BulletWhere will Raj Bank ATM be accepted ?
All ATMs of the Bank only.

BulletWhat are the facilities available at ATMs ?
At Raj Bank’s ATM network, Customer will be able to withdraw Cash up to certain limit, make a balance enquiry, change his PIN and print a mini statement of his account.

BulletWhether there are any charges for using CARD at ATMs ?
There will not be any charges for using the Card at Raj Bank’s own ATM network.

BulletWhat is the procedure to be followed in case of loss of ATM Card?
In case of loss of card, customer will be required to report the loss IMMEDIATELY over phone to the concern branch as well as EDP Department on 0281- 2234454.

BulletWhen will the customer get replacement card in lieu of lost one?
Replacement card will be issued to customer after receipt of above information and a request for issuing of replacement card. The replacement card will be issued against payment of requisite charges as per bank’s tariff of charges, which will be debited to Customer’s account.