People need financial assistance for different reasons (e.g. to create a permanent asset like house, purchasing a consumber durable (e.g. car, scooter, motor cycle, fridge, TV etc.) or to meet unexpected or expected expenditure (e.g. hospitalisation, marriage of dependents etc.).
Shivalik Bank offers loans to meet all of your personal needs of financial assistance.
Please click for EMI calculator to decide on the most convenient and comfortable repayment schedule. As a general rule, the EMI cannot exceed half of your gross monthly income. For example, if your gross monthly salary is 70,000/- and you are already having monthly deductions from your salary to the tune of Rs. 20,000/- towards income tax, PF, LIC, and some other loans, your EMI for next loan cannot be more than Rs. 25,000/- (half of Rs. 50,000/-).
Good previous track record if you are our existing customer.
Good Market Report about you, if you are new customer for us.
If you don’t have any account with us, all KYC requirements would have to be fulfilled for opening an account.
Assessment of your financial worth. (your assets and liabilities statement)
Assessment of your repayment capacity (your income tax returns)
Your own stake (in the form of cash margin).
Valuation and Acceptability of the security being offered by you to cover the loan amount.
Membership of the Shivalik Bank as per laid down rules of the Govt. As per rules, you must be a shareholder of Shivalik Bank holding sufficient shares of the bank. (Since Shivalik Bank is paying handsome dividend to its shareholders since its inception, it is a great opportunity for you to become a share holder and start having a reliable, honourable and stready income).
Execution of security documents by you and the guarantor if any.
Housing Loan : Housing loan may be given for any of the following purposes - purchase, construction, expansion, renovation, repairs of new / existing house.
If you are buying a new house from some builder (public sector or private sector), you need to submit documents (allotment letter / demand notice/ quotation, duly sanctioned map etc.).
If you are buying an old house from previous owner of the house, bank would need to ascertain legal title (ownership) of the seller and valuation of the property being purchased. Thus, legal report from bank’s advocate and valuation report from bank’s approved valuer are to be obtained. The house which you wish to purchase must be constructed as per sanctioned map.
If you are renovating or repairing your own house, you need to establish your own legal title (ownership of the house) and its present value and the value addition after renovation. Here again, legal report and valuation report would be required.
If you are expanding your own house, you need to have a sanctioned map for the proposed construction besides legal / valuation report.
Please apply for Housing loan. Our officer will soon get in touch with you.
Auto loan is granted for purchase of a brand new two-wheeler (scooter or bike) or a car for domestic purpose (to be used by self and family). The vehicle should be purchased from the dealer and should be unused earlier.
Besides general requirements mentioned above, you would be asked to bring a quotation from the dealer and your valid driving license.
For purchase of other consumer durable items for domestic use, you have to bring the quotation.
Please apply for Auto Loan / Consumer Loan.
If you are ever in need of financial assistance for a short period (less than 3 years), demand loans are easily available from us. For availing a demand loan, you may offer any of the following securities:
Bank’s own FDRs / Recurring Deposit passbook of the sufficient amount to serve as security.
Post Office Receipts (NSC or KPV) of the sufficient value to serve as security.
Currently running Life Insurance Policy issued by LIC of India having sufficient surrender value to cover your loan amount.
Gold ornaments of the sufficient value to cover the loan amount.
Loan against property belonging to you or your guarantor.
Please apply for Demand Loan.
Professionals (doctors, CA’s, architects, engineers etc.), industrialists, whole salers and retailers generally need financial assistance from banks to meet any one or more of the following requirements:
Creation of permanent property (factory building, school building, nursing home, office, clinic, showroom etc.). Click for details of the scheme and current rate of interest.
Purchase of costly plant & machinery and other professional equipments (X-ray machines, ultra-sound, CT Scans, laboratory equipments, machinery for factory, furniture and fixtures etc.) Click for details of the scheme and currently applicable rate of interest.
Working capital to meet day to day expenses. Click for details of the schemes and currently applicable rate of interest.