Key Announcements RSS

  • 19th Annual Report

     

    Bank's 19th Annual Report is available >>> Read More

  • Shivalik Bank and LIC of India join hands!

    Shivalik Bank now offers life insurance plans of LIC of India as its corporate agent. An MoU was

    >>> Read More

FAQs

Here are some frequently asked questions and their answers.  In case, you don't find answer to your query, you may send us a message through this form.  Alternatively, you can call us at the following numbers:  

Blocking / Unblocking of your ATM card : Click here
For other issues : Click here

About the Bank

Is Shivalik Bank a private Bank or a public sector bank? What is its legal status? Who are the people behind it?

Shivalik Bank (full name – Shivalik Mercantile Cooperative Bank Ltd.) is registered under Multi-state Coop. Societies Act, 2002 of the Govt. of India and is in direct control of Reserve Bank of India like other commercial banks working in our country. It is the first and the largest multi-state cooperative bank of U.P. and enjoys ‘A’ rating from RBI since its inception. It is a profit earning bank since 1st year of its operation and has got almost nil NPA (net). In view of its excellent reputation, financial strength and wide customer base, RBI has even allowed it to take over two weak banks in M.P. Want to know more? Continue reading >>>

Since when is the Bank working?

The first branch of Shivalik Bank started working on 5th Sept. 1998. Starting from that point, we now have 21 fully air-conditioned, fully-computerised, CBS-compliant branches in U.P. and M.P.

Why should I deal with Shivalik Bank?

If you value your time and are looking for a bank which would make banking a great pleasure, Shivalik Bank offers itself as the most obvious choice for you. We are known for fast and transparent decision making, customer-friendly systems and procedures, keen desire to help and serve and the goodwill earned by us from 1,00,000+ clients is the secret of our immense success.

We urge and cordially invite you to start with a small Savings Bank account with us. Soon, you will want more and more of our banking services.

What facilities are you offering to your customers?

Our services include:

  • All types of deposit accounts. (‘0’ balance SB, Normal Savings Bank account, Auto-sweep account with higher interest on your deposit, Current Account, Recurring Flexi, Daily Deposit and of course, FDRs in all their avtars.
  • Loans and credit limits for personal, business and professional use.
  • Loans to Road Transport Operators for new/ old / already owned commercial vehicles.
  • Loans to Self Help Groups
  • Loans to Small Traders who consider themselves too small to maintain books of accounts / file Income Tax Return.
  • Gold Loan
  • Lockers
  • NEFT / RTGS and other forms of remittances.
  • Collection of local / outstation cheques and other negotiable instruments
  • ATM-cum-Debit Cards of Rupay financial network of Govt. of India / RBI.
  • Onsite ATMs. Expanding our ATM network continuously.
  • Cash Deposit Machines. Expanding our CDM network continuously.
  • Issue of Bank guarantees.
  • Other Misc. services.

How to contact you for opening of an account?

We are just a phone call away. Please locate our branch which is nearest to you and call the Branch Head. He will take care of everything. You can even apply online for a deposit account by clicking here.

About our branches / BC offices

Q. Where do you have your branches?

Ans. As of today, Shivalik Bank has got 21 branches in U.P. and M.P. Since the bank has got its roots in Saharanpur, maximum concentration of our branches is in Saharanpur District. In U.P., our other branches are in Muzaffarnagar, Khatauli, Meerut, Ghaziabad and Noida. In Madhya Pradesh, our branches are in Indore and Dhar at district head quarters.

Q. What is a B.C. Office? How many B.C. Offices have you opened? What facilities are available there?

Ans. At such remote locations where we don't have a full branch, we have got Business Correspondents who are providing basic banking services in their respective areas of operation. Facilities of opening a Savings / Current Account / Flexi RD / depositing cash through Cash Deposit Machine, withdrawing cash through ATM are being offered at such B.C. offices. The B.C. offices are linked to the nearest branch of our bank. The network of B.C. offices is continually being expanded. At of today, we have got total 15 BC Offices out of which, 1 B.C. office is in Nakur, one in Chhutmalpur, another one in Chilkana, District Saharanpur. 3 B.C. offices are functioning in Nithari, Barola and Sadarpur villages and all the three are affiliated to our Noida Sector 27 branch. We have 5 BC Offices in Meerut and one B.C. office is functioning in Patnipura and is affiliated to our Indore Branch. Latest position may be ascertained by visiting Locate Us page to find the complete list of branches / ATMs / CDMs/ Business Correspondents.

Q. How do you manage these remotely located offices?

Ans. The Bank has appointed Janhit Foundation, Lucknow as its Business Correspondent who in turn, is recruiting BCs and overviewing management at these B.C. offices under overall control of the Bank.

About opening of deposit account

Who can open a deposit account in Shivalik Bank?

All Indian residents who can legally enter into a contract can open a deposit account with us after fulfilment of usual KYC formalities. Besides individuals, clubs, societies, trusts, HUF, partnership firms, pvt. limited companies and public limited companies can also open their deposit accounts. A minor above the age of 14 may also open a Savings Bank account and can operate the account under his own signatures.

What KYC formalities are to be fulfilled for opening an account?

KYC stands for "Know Your Customer". As per guidelines from Reserve Bank of India, a bank should satisfy itself about the true identify, residential address, occupation, source of income etc., of the person who wishes to be bank's customer. Thus, any of the following documents can be submitted to take care of KYC requirement:

Photo ID can be any of the following documents:

  • Passport
  • Voter Card
  • PAN Card
  • Driving License
  • Aadhar Card
  • ID Card given by Govt. department in the capacity of an employer.

Address Proof can be any of the following documents:

  • Passport
  • Voter Card
  • Recent electricity bill
  • Recent BSNL phone bill
  • Ration Card

If a person does not have any of the above documents to prove his / her identity, he/she can open an account under Liberalized Policy of KYC of the Reserve Bank of India by submitting any other document in support of his statement. A letter from Village Pradhan testifying name and address and photo may serve the purpose.

About the ATM-cum-Debit Card

Introductory

Q. Which cards are being offered by Shivalik Bank?

Ans. Shivalik Bank is a member of Rupay network which is offered by Govt. of India and Reserve Bank of India. All ATMs in India are members of Rupay network. Thus, Shivalik Bank’s ATM card is accepted at all ATMs in India.

Q. How many types of cards are being issued by Shivalik Bank?

Ans. Shivalik Bank is issuing Instant Card as well as Personalized card. It is always preferable to have a Personalized card and unless you have an urgent requirement for the ATM card, you should wait for the Personalized card which will be delivered to you with your name embossed on it. The amount you can withdraw in a day with the help of your ATM card depends upon the type of your account - Savings Normal / Savings Gold / Savings Diamond / Current Account Normal / Gold or Diamond.

Personalized card may take 15-20 days to reach you. However, instant cards are readily available at branches and as soon as you open an account with us, the card will be issued to you on the same day and will be activated the next day. In case of Instant Card, you will be able to generate your PIN yourself through our Green PIN technology. In case of Personalized cards, CARDs are sent by courier.

Q. What can I do with Shivalik Bank’s ATM card?

Ans. You can use Shivalik Bank’s ATM Card at any ATM in India to know your bank balance and to withdraw money from your account. Additionally, you can do your shopping online or at large malls, showrooms, petrol pumps etc., anywhere in India. You also need your ATM card for availing net banking facility at Shivalik Bank.

Q. How to apply for the ATM-cum-Debit card?

Ans. We offer ATM-cum-Debit cards to all Savings Bank and Current Account customers unless they are ineligible for some reason. If you are a Savings Bank / Current Account customer of the bank and don’t have an ATM-cum-Debit Card issued in your account as yet, you should apply online or through your branch for the same. There are no charges for issue of card.

Q. What is the period of validity of Shivalik Bank ATM card?

Ans. Shivalik Bank ATM-cum-Debit Card is valid for 10 years from the month of issue.

Q. What is CVV?

Ans. CVV is a three digit number printed on the back of your card. You are required to mention the CVV in case of online transactions besides your 16 digit card no., validity of the card etc. This provides an additional safety level to you.

Cash Withdrawal Limit

Q. What is the cash withdrawal limit at Shivalik Bank ATMs?

Ans. It depends upon the type of card you are having (Normal / Gold / Diamond). For normal card, If our Bank’s ATM card is being used at our ATM, the maximum cash withdrawal limit is fixed at Rs. 50,000/- per day, not more than 5 transactions per day and no transaction exceeding Rs. 20,000/-. Please ascertain for latest RBI guidelines in this regard since free usage of ATM at other bank's ATM is likely to be discontinued by RBI.

Q. What is the cash withdrawal limit for Shivalik Bank cards at other bank’s ATM?

A. Shivalik Bank card can be used at other bank’s ATMs to withdraw a maximum of Rs. 50,000/- in a day, not more than 5 transactions in a day and no transaction exceeding Rs. 10,000/-.

Charges for ATM Cards transactions

Q. Ain’t there any charges related to ATM Cards whatsoever?

Ans. As on date, there are no charges for issue of ATM-cum-Debit Card being issued in an account for the first time. However, the charges are as under:
Charge for Add-on Card - Rs. 150/- per add-on card.
Charge for replacement card in lieu of lost/damaged card – Rs. 150/-
Annual Charge for all types of cards – Rs. 150/-.
Charge for card blocking / unblocking – NIL.
PIN Re-issue - Rs. 50/-

Q. Are there any charges for ATM transactions?

Ans. As per guidelines issued by Reserve Bank of India, there are absolutely no charges for carrying out transactions at ATM if the ATM and the Card are of the same bank. In this case, there is no limit on the number of free transactions that you can carry out.

However, if you are using an ATM card issued by one bank at the ATM of some other bank, only 5 transactions are allowed per calendar month. After that, nominal charges are levied by your bank per transaction and your account is debited for that. At present the charges are as under: Cash Withdrawal – Rs. 20/- per transaction + Service Tax. For balance enquiry – Rs. 8/- + Service Tax.

What if ?

Q. If during ATM transaction, my account is debited but cash is not given by the machine, what should I do?

Ans. Usually, you should get a reverse credit into your account within two-three days but in case your bank doesn’t reverse the debit, you should contact your bank. If you were using Shivalik Bank’s card at Shivalik Bank ATM, you are welcome to contact the nearest branch of Shivalik Bank. After confirming the failed status of the transaction, your account will be given reverse credit on the same day. If Shivalik Bank’s card was being used at some other bank’s ATM and the transaction got failed, you will receive reverse credit in your account in three or four days.

Q. What to do if I forget my PIN and can’t recover it?

Ans. If you enter wrong PIN on three consecutive attempts, the card gets blocked and will be automatically unblocked the next day. If you need, PIN can be issued again against charge of Rs.50/-. Using green PIN facility, you can generate your PIN yourself.

Q. What happens if debit entry does not get reversed in case of failed transaction?

Ans. Shivalik Bank, keeping in line with its highest level of customer service norms, offers to pay penalty @ Rs. 100/- per day for delay period beyond 7 days to its customers if their account is debited but cash is not dispensed to them at our ATM.

Q. What happens if I forget to take my cash dispensed by the machine?

Ans. As per latest guidelines issued by RBI, if cash is not taken by a card holder from the machine, it will not be taken back by the machine. Whoever visits the ATM cabin and finds cash lying therein may be tempted to take the cash and walk away.

Q. What happens if I lose my card?

Ans. You may temporarily or permanently block your card by intimating to the bank. Phone number for blocking of card ( 044-39113773) is mentioned at all Shivalik Bank ATMs. This number is active 24 hours. In case you want the card to be blocked permanently, your request would be accepted but you would be asked to file an FIR also for loss of card and submit the same with your request for replacement card.

Q. For any more enquiry what should I do?

Ans. You are welcome to contact your branch where our officers will be eager to help you.

About loan facility desired by you

About Internet banking

Q. What is Internet Banking?

Ans. Internet banking means using internet network to access your bank account for any reason, like:

  • i) getting to know your bank balance or statement of account;
  • ii) performing transactions in your account like – payment of bills, online purchases, making investments, transferring money from your account to some other account.

You can use any device having internet connection to access your bank account.

Q. Does Shivalik Bank offer Internet Banking facility?

Ans. Yes, Shivalik Bank is offering internet banking with very advanced safety features.

Q. How Will I be able to avail this facility from Shivalik Bank?"

Ans. As a customer of Shivalik Bank, you will be invited to avail this facility. Upon your written request on our prescribed format, you will be given a User ID and Internet login password and with that, you will gain access to your account from your home or office. You should have the following for getting internet banking facility: i) Your mobile number and email id must be registered with the bank. ii) You must have an activated ATM-cum-Debit Card issued by Shivalik Bank. In case of joint account you should have authorisation from other account holders in your name.

About Remittances (DD / Payorder / NEFT / RTGS / IMPS )

Q. I need bank drafts on various cities like Delhi, Mumbai, Ahmedabad, Kanpur, Varanasi etc. almost everyday. Since you don’t have branches at these centres, how can you help me?

Ans. We have been issuing bank drafts on every city in India since the very first day of our working and it is a routine banking transaction for us. We have made arrangements with various banks for issue of DD and no customer of Shivalik Bank ever faces inconvenience in this regard. Our customers get DDs within 10 minutes and that too, without paying any extra charges.

Q. Why people still need DD’s and Payorders when much faster NEFT and RTGS are available?

Ans. A person has to send DD if he doesn’t know the account number of the beneficiary, IFS code of the bank branch where the beneficiary maintains his account or if the beneficiary specifically demands payment through DD only. If you have to send money to someone within the country, you should ask from the beneficiary the following information:

  • Account No.
  • Title of Account
  • Name of Bank and branch
  • IFS Code

Once you know the above pieces of information, you don’t even have to visit a bank or pay a single paisa for remittance of funds.

Q. What is the difference between NEFT and RTGS?

Ans. Under National Electronic Fund Transfar (NEFT) system, funds are remitted in hourly batches whereas in Real Time Gross Settlement (RTGS) system, funds are transferred immediately on receipt of request at RBI.
In Case of NEFT, any amount can be remitted but RTGS is used for sending more than Rs. 2,00,000/.
Since Shivalik Bank does not charge from its regular customers anything for sending or receiving funds from / to their accounts, it is the most convenient and cost effective method for transferring funds from one bank account to another in same city or anywhere in India.

Q. What are the timings for effecting NEFT / RTGS?

Ans. You can submit online request for NEFT / RTGS to us anytime. Once the request been submitted successfully and has been accepted, it is processed in next batch whenever it may be - either on the same day or next morning.

Q. What is IMPS?

Instant Mobile Payment System (IMPS) uses mobile channel to effect remittance from one person’s account to another person’s account. At present you can receive IMPS in your account and very soon, you will be able to effect an IMPS for sending money to others also. For availing this service, you should know what is your account's MMID and inform this MMID and your mobile number to the remitter who wants to send money to you. Alternatively, your remitter should know your Account Number, Title of account, IFS Code of the branch where account is being maintained. However, if you have registered your mobile number for SMS Banking service at Shivalik Bank, you may know your MMID by sending an SMS "MMID <account no>" to us at 9211401010. You must mention your 12 digit account number correctly to get correct MMID.

About Cash Deposit Machines

Q. What is Cash Deposit Machine?

Ans. Cash Deposit Machine (CDM) looks quite similar to ATM machine and Shivalik Bank has installed these machines at all of its branches / BC offices so that Bank’s customers may deposit their cash also whenever they want to. This machine has got a keypad and a monitor for keying in commands. There is a currency note receptacle where you put your money. Money takes one note at a time, checks it for genuineness and its denomination. When all notes are counted and accepted, the machine prints a money receipt for the amount deposited by you.

Q. How much cash can be deposited in a single transaction through this machine?

Ans. The maximum amount accepted is Rs. 49,000/- per transaction.

Q. What currency notes are accepted by the machine?

Ans. The machine accepts notes of Rs. 10, 20, 50, Rs. 100, Rs. 500 and Rs. 1,000.

Q. What to do if there is some problem at the machine?

Ans. Please contact the Branch Head for any issues related to Cash Deposit Machines.

Q. What are the timings when this machine would accept cash? Is it available 24x7 ?

Ans. The machine remains available for use from early morning till 10 p.m.

About Lockers

Q. What are bank’s requirements for opening a locker account?

Ans. First of all, you need to enquire from your branch if a locker is vacant or not and if vacant, in what size? If locker is available for letting out, usual KYC formalities are to be furnished and a Locker account opening form is to be filled in. You will deposit advance annual rent from your account and the key of the locker will be handed over to you.

Q. Can a locker account be opened in joint names?

Ans. Yes, locker may be taken on rent in joint names. However, only one locker key is handed over to the customer – whether the locker is in single name or joint names.

Q. Is there any restrictions as to what items can be kept in a locker?

Ans. Lockers are meant to keep your small valuable items e.g. gold / diamond ornaments, important papers like FDRs, title deeds, Will etc., and must not be used to keep anything illegal or dangerous.

Q. How to pay the locker rent?

Ans. The most convenient way to pay rent to the bank before due date is to give standing instructions to the bank branch to debit your Savings or Current Account whenever the rent is due. It is also a great idea to keep an FDR of the sufficient value in the bank and ask the bank branch to credit the interest earned over it into your SB Account. This will ensure that there is sufficient balance available in the account for debiting it with amount of rent.

Q. What can I do to secure my locker additionally?

Ans. Besides the highly secured lock provided by the locker manufacturer, you can put one more padlock of your choice on your locker.

Q. What happens if I miss the key of the locker somewhere and can’t trace it?

Ans. In case of loss of locker key, you have to report to the bank in writing and request for change of lock. The locker will be opened with the help of duplicate key and the lock would be changed by the locker manufacturer. Obviously, you have to bear the cost of new lock and the charges levied by the mechanic who would change the lock.

Q. How to close the locker account if I don’t need it?

Ans. Before the annual rent is due, you should contact your branch where you are maintaining locker account and should vacate the locker and surrender the key. The locker account will be closed and no further rent will be chargeable.

Q. Under what circumstances, bank can forcibly open the locker?

Ans. The Bank may have to open the locker forcibly under the following circumstances:

  • i) At your request when you have lost the key.
  • ii) When rent is not paid on due date and despite reminders sent to your last known address to the bank.
  • iii) When there is an order from the competent authority to open the locker.

About Housing Loan

Q. For what purposes, do you grant housing loan?

Ans. Housing loan can be granted for any of the following purposes:

  • 1. Construction on already owned plot
  • 2. Purchase of plot and construction thereon
  • 3. Purchase of a new house from builder / real estate developer / authority
  • 4. Purchase of an old house from an individual owner
  • 5. Repairs in owned house
  • 6. Expansion or alteration of existing and already owned house property
  • 7. Taking over of an already running housing loan with some other financial institution (balance transfer)

 

Q. What is the minimum and maximum age for becoming a borrower in housing loan account?

Ans. A borrower must be minimum 18 years of age. Maximum age is 65 at the time of scheduled closure of loan account.

Q. What are the minimum and maximum loan amounts?

Ans. Maximum : 65% of Distress Sale Value of the property

Q. What are the loan tenure options?

Ans. Minimum period depends upon the requirement. Maximum period of loan can be upto 20 years.

Q. What are the lending rates?

Ans. As applicable from time to time. For latest rates, Please click here or contact your nearest branch of Shivalik Bank.

Q. How is the interest charged / calculated?

Ans. Interest is calculated on daily reducing balance and debited to the loan account every month.

Q. What documents do I need to submit to get housing loan?

Ans. It would depend upon the purpose of finance. However, we need title deeds to the property; estimated cost of construction / repairs / expansion / renovation / alteration as given by architect; letter of allotment and demand note in case of purchase of a new house; Sanctioned map of the property to be constructed / purchased; Agreement to sell in case of purchase of old house from existing owner; KYC documents, Income Tax returns for the last 2 or 3 years; Assets and Liability statements of borrowers and guarantors. Complete list of documents applicable in your case can be given after understanding your needs.

Q. How to approach Shivalik Bank to apply for a loan for purchase of equipment?

Ans. You can visit the link Apply for Loan and submit some basic information about you. Our officer will soon visit you to discuss your requirements. Other options available are - i) Sending an email to us at info@shivalikbank.com; ii) Please call us at 9927135550 and an officer will discuss your loan requirement. iii) you are welcome to walk in to any of our branch which is nearest to you. For information about our branches, please click here.

Q. How much time would you take to approve my loan?

Ans. Once you have submitted all the required documents (including valuation report and advocate's search report), the loan can be processed within 2 working days.

Q. Is a personal guarantor a must?

Ans. Yes. However, on the basis of your profile and loan amount, the bank may waive this requirement at its absolute descretion.

Q. Besides hypothecating the equipment, would you need collateral also?

Ans. It depends upon the amount of loan, your profile and your credit rating.

Q. What are the main eligibility norms for availing Housing Loan?

Ans. Besides satisfactory compliance of KYC formalities, you should be competent to contract. Your CIBIL credit score must be above 700. Your profile, net worth, repayment capacity will also be taken into account to find out your eligibility

Q. If I do not meet all the criteria, can I still get the required loan?

Ans. If your net income is below the requirement, you may take one or more co-borrowers from your family so that their incomes may be clubbed to your income. Please discuss your particular case at your branch so that the best possible solution may be suggested to you.

Q. Can I pre-pay my loan? Is there any penalty for pre-payment of the loan?

Ans. Yes. No, there is no prepayment penalty if you are repaying the loan from your owned funds. However, in case of borrowed funds, penalty may be charged on bank's discretion.

Q. Do I need to open a Savings or Current Account with you for availing the loan?

Ans. Yes, having an account with your branch is necessary to avail a loan.

Q. What are the stages involved in availing the loan?

Ans. Once you submit your loan application complete with all requisite enclosures, your papers would be checked and facts stated will be verified, the construction site / house property will be visited, title deeds etc., would be examined, non-encumbrance and title search will be done, valuer will be asked to evaluate the value of property, loan proposal would be prepared and submitted to the sanctioning authority, upon sanction you and the guarantor would be invited to execute the documents and loan will be disbursed as per schedule agreed upon.

Q. Do you allow moratorium period before repayment starts?

Ans. Yes, if you request for some moratorium period, the same can be considered. However, repayment of interest has to start from next month of disbursement of loan.

Q. How much margin should I arrange for availing the loan?

Ans. It will depend upon your purpose of loan. Please get in touch with the branch.

Q. Can I request you to take over my existing loan from some other bank?

Ans. Yes, it can be considered subject to norms fixed by the bank in this regard.

Q. What are the conditions for repayment?

Ans. We discuss it with the borrower and a mutually agreeable schedule is fixed thereafter. If moratorium period is desired in case of housing loan for construction purpose, the same can also be considered.

Q. What are file charges / processing charges?

Ans. 0.75% of loan amount. 2.5% of the loan amount is required by way of share capital which is a very healthy investment attracting a fixed regular income @ 12% p.a. for you. It is the reason that our borrowers don't usually ask their investment back even after the loan is fully repaid.

Q. What are other expenses involved?

Ans. Professional fee of the valuer and advocate for their reports. Actual expenses on stamping of legal documents and bank's other actual charges.

About Equipment Loan for Professionals

Information will be updated soon. Kindly visit again.

About Building Loan (Commercial Use)

Information will be updated soon. Kindly visit again.

About Car Loan

Q. What is the eligibility criteria for the Car loan?

Ans. A creditworthy individual customer / HUF satisfactorily having satisfactorily conducted Savings/current/cash credit account with the bank. Creditworthiness includes aspects like sufficient net monthly income, sufficient net worth and good credit score.

Q. What is the income eligibility criteria of your bank?

Ans. Total deductions including proposed EMI should not exceed 50% of net income if net income is upto Rs. 5.00 lacs; 60% if net income is above Rs. 5.00 lacs and is upto Rs. 8.00 lacs; and 70% if net income exceeds Rs. 8.00 lacs.

Q. What are the loan tenure options?

Ans. Minimum period can be as per requirement of the borrower while maximum period is 60 months.

Q. What are the lending rates?

Ans. As applicable from time to time. For latest rates, Please click here.

Q. How is the interest charged / calculated?

Ans. Interest is calculated on daily reducing balance compounded monthly.

Q. What documents do I need to submit to get a car loan?

Ans. Quotation for the automobile, income proof, assets and liability statement, valid driving license in support of Application for Car Loan duly filled in and signed.

Q. How to approach Shivalik Bank to apply for a loan for purchase of equipment?

Ans. You can visit the link Apply for Loan and submit some basic information about you. Our officer will soon visit you to discuss your requirements. Other options available are - i) Sending an email to us at info@shivalikbank.com; ii) Please call us at 9927135550 and an officer will discuss your loan requirement. iii) you are welcome to walk in to any of our branch which is nearest to you. For information about our branches, please click here.

Q. How much time would you take to approve my loan?

Ans. Once you submit the Loan application complete in all respects, along with enclosures, the loan can be disbursed the very next day.

Q. Is a personal guarantor a must?

Ans. Yes. However, on the basis of your profile and loan amount, the bank may waive this requirement at its absolute descretion.

Q. Besides hypothecating the financed car, would you need collateral also?

Ans. It depends upon the amount of loan, your profile and your credit rating.

Q. Can I pre-pay my loan? Is there any penalty for pre-payment of the loan?

Ans. Yes. There is no prepayment penalty in case a loan is repaid before the due date.

Q. Do I need to open a Savings or Current Account with you for availing the loan?

Ans. Yes, you need to have a satisfactorily conducted savings bank account with any of our branches.

Q. What are the stages involved in availing the loan?

Ans. Once you submit your completed loan application, the proposal is considered and if sanctioned, loan is disbursed immediately.

Q. What types of cars are financed by you?

Ans. Any brand new car being sold in our country that matches with your needs and profile can be financed if the loan amount is within your eligibility level.

Q. How much margin should I arrange for availing the loan?

Ans. 15% of the ex-showroom price of the vehicle. Insurance, registration, accessories are not considered.

Q. Can I avail loan for purchase of a second hand car also?

Ans. Usually, bank considers car loan for purchase of brand new vehicles only but yes, an old car (max. 3 years old) is considered for finance by the bank.

Q. Can I avail loan against my existing vehicle also?

Ans. We have a different scheme for finance against existing commercial vehicles. Please visit that section.

Q. What are the conditions for repayment?

Ans. While loan is disbursed by direct payment to the dealer of the vehicle, the repayment can be done through cheques, direct transfer from your salary.

Q. What are file charges / processing charges?

Ans. 0.50% of loan amount is chargeable.

Q. What are other expenses involved?

Ans. All actual bank charges + cost of stamp duty on security documents. 2.5% of the loan amount is to be invested in bank's share capital on which you get 12% dividend every year.

About Two-wheeler Loan

Q. What is the eligibility criteria for the two-wheeler loan?

Ans. A creditworthy individual customer / HUF satisfactorily having satisfactorily conducted Savings/current/cash credit account with the bank. Creditworthiness includes aspects like sufficient net monthly income, sufficient net worth and good credit score.

Q. What are the loan tenure options?

Ans. Minimum period 12 months and maximum period is 36 months in case of two-wheelers and max. 84 months in case of car loan.

Q. What are the lending rates?

Ans. As applicable from time to time. For latest rates, Please click here.

Q. How is the interest charged / calculated?

Ans. Interest is calculated on daily reducing balance compounded monthly.

Q. What documents do I need to submit to get a car loan?

Ans. Quotation for the automobile, income proof, assets and liability statement, valid driving license in support of Application for Car Loan duly filled in and signed.

Q. How to approach Shivalik Bank to apply for a loan for purchase of equipment?

Ans. You can visit the link Apply for Loan and submit some basic information about you. Our officer will soon visit you to discuss your requirements. Other options available are - i) Sending an email to us at info@shivalikbank.com; ii) Please call us at 9927135550 and an officer will discuss your loan requirement. iii) you are welcome to walk in to any of our branch which is nearest to you. For information about our branches, please click here.

Q. How much time would you take to approve my loan?

Ans. Once you submit the Loan application complete in all respects, along with enclosures, the loan can be disbursed the very next day.

Q. Is a personal guarantor a must?

Ans. Yes. However, on the basis of your profile and loan amount, the bank may waive this requirement at its absolute descretion.

Q. Besides hypothecating the financed two-wheeler automobile, would you need collateral also?

Ans. It depends upon the amount of loan, your profile and your credit rating.

Q. Can I pre-pay my loan? Is there any penalty for pre-payment of the loan?

Ans. Yes. There is no prepayment penalty in case a loan is repaid before the due date.

Q. Do I need to open a Savings or Current Account with you for availing the loan?

Ans. Yes, you need to have a satisfactorily conducted savings bank account with any of our branches.

Q. What are the stages involved in availing the loan?

Ans. Once you submit your completed loan application, the proposal is considered and if sanctioned, loan is disbursed immediately.

Q. What types of two-wheeler automobiles are financed by you?

Ans. Any brand new two-wheeler motor-cycle or scooter being sold in our country that matches with your needs and profile can be financed if the loan amount is within your eligibility level.

Q. How much margin should I arrange for availing the loan?

Ans. 25% of the ex-showroom price of the vehicle. Insurance, registration, accessories are not considered.

Q. Can I avail loan for purchase of a second hand two-wheeler automobile also?

Ans. No. Bank considers two-wheeler loan for purchase of brand new vehicles only.

Q. Can I avail loan against my existing vehicle also?

Ans. No. Such scheme exists only for finance against existing commercial vehicles. Please click here to know more.

Q. What are the conditions for repayment?

Ans. While loan is disbursed by direct payment to the dealer of the vehicle, the repayment can be done through cheques, direct transfer from your salary.

Q. What are file charges / processing charges?

Ans. 0.50% of loan amount is chargeable.

Q. What are other expenses involved?

Ans. All actual bank charges + cost of stamp duty on security documents. 2.5% of the loan amount is to be invested in bank's share capital on which you get 12% dividend every year.

About Loan for Commercial Vehicles

Shivalik Bank offers financial assistance for purchase of new / second hand commercial vehicles (bus, truck, chhota haathi etc.) on attractive terms. The Bank even offers financial assistance against existing vehicle also. The interest is charged on reducing balance.

About Personal Loan Against Property

You can avail personal loan upto Rs. 10.00 lacs against the security of property for meeting your domestic, business or professional financial needs. Please contact any of our branch for fast processing of your loan request.

About SAHYOG Small Trader Loan

Loan upto Rs. 25 lacs is available from Shivalik Bank to small traders and small industries. Even those people can avail loan under Sahyog Scheme who do not file ITR or do not prepare final accounts.

In view of the above difficulty, Shivalik Bank is happy to offer small businessmen financial assistance upto Rs. 25 lacs on very easy terms. There are two products available - i) SAHYOG Small Trader loan upto Rs. 25.00 lacs (against collateral - land & building) and ii) AASRA Small Trader Loan upto Rs. 5.00 lacs (without collateral).

Please contact your nearest branch for more details.

About local clearing

Information will be updated soon. Kindly visit again.

About collection of outstation cheques

Information will be updated soon. Kindly visit again.

About multi-city cheques

Q. What is a multi-city cheque book?

Ans. Multi-city cheque book contains cheque leafs which you can use to make payment to people who live in some other city. A multi-city cheque is very useful while sending fee / subscription to newspapers, magazines, schools, colleges, universities etc., because they don't accept normal outstation cheques. The payee of a multicity cheque doesn't incur any bank charges towards collection of outstation cheques. If there is any charge, issuer of the cheque has to bear it.

Q. Is there any other benefit of multi-city cheque?

Ans. Multi-city cheques are collected through local clearing and therefore, beneficiary gets payment of the cheque in his/her account within a day or two.

Q. Is there any other option available for making payment to people who live in some other city?

Ans. Thanks to fast developing information technology, there are lots of options available to you for remitting and receiving funds. NEFT, RTGS, IMPS are some of the options available. Please click here to know more about them.

About rate of interest - deposits

About rate of interest - advances

 

Please visit the Interest Rate Chart

About our charges

 

Please visit the Interest Rate Chart

About SMS alerts

Bank welcomes you to register your mobile number with us so that whenever there is a transaction in your Savings Bank / Current / CC account, you get an SMS from the bank to alert you. Please contact your branch today itself. Please note that mobile number registration with the bank is compulsory if you wish to send NEFT / RTGS.

About Statement of Accounts

Information will be updated soon. Kindly visit again.