Modi Compound, Lal Darwaja,
Main Road, Surat-395003,
+91 261 2532933, 2539310
+91 261 2531383
Any individual can open an account jointly or severely i.e. with son, daughter, wife/husband or any other relative or any person.
Saving Bank Account can be opened with Rs. 1000/- with cheque book facility. Current A/c can be opened with Rs.5000/-.
As Per Rbi KYC norms 1 Id proof , 1 Address Proof and Pan Cad
Nomination Facility is available for the benefit of the customers.
Nomination facility also available for locker hire.
Yes, Illiterate person can also open bank account.
Following are the documents required for the opening of Current account of partnership :
The Surat Mercantile Coop. Bank Ltd. has been providing the loan for consumer durables, for the purchase of house hold goods, vehicles loan for the purchase of Two/three/four wheels etc., personal loan for socio-economic need, housing loan for the construction of house and repair/renovation/alternation of existing house and Education loan for the higher study of child, Machinery for textile business, Machinery loan under TUF Scheme, Machinery for Doctors.
Yes, you salaries can be clubbed for the purpose of calculator of the loan amount. This can be done either when the property is jointly held with spouse or the spouse stands as a guarantor. Thus, we ensure a great deal of flexibility in the entire exercise of financing your house.
For construction of house, for purchase of house /flat, for carrying out repairs/renovation/alterations in the existing house.
Interest is charged on reducing balance.
There is no penalty for pre-closure of loan and an individual can adjust his account fully at any time after taking the loan
The maximum tenure of personal loan is 4 years.
Education loan are given for pursuing all types of education viz. general, professional, technical and vocational courses.
Need based finance subject to repaying capacity of the parents, students with margin subject to the following ceiling :
You can avail loan maximum upto 85% of the property (Inclusive of Stamp Duty & Registration Fees)
The actual loan amount sanction is depend upon valuation and your repayment capacity.
The Housing Loan can be repaid over maximum period of 15 years. The repayment period will not be extended beyond retirement from service or reducing 60 years of age in case of Professionals / Businessman.
You can make an application at any time after you have decided to purchase Property.
Yes, According to provision of Coop Society Act you Co -applicant & Guarantors have to become member of bank by purchasing 1Share of the bank.
Yes, you can avail home loan to repay a loan availed from another bank/Financial Institution under the 'Transfer of Loan' Scheme.
You can repay the loan in EMI (Equited monthly Installment) comprising principal & interest in various repayment option such as
Normally the first mortgage of property for any other collateral security as may be necessary.
Yes, In Case of Housing Loan you are eligible for tax benefits on principal & interest amount of loan under and as per the Income Tax Act.
Yes, the Agreement for sale have to be registered within four months from the date of Agreement.
Yes, you will have to insured property for fire & other hazards and The Surat Mercantile Co.Op. Bank Ltd. will be the beneficiary of Insurance Policy.
Yes, late payment charges will be recovered according to loan installment as per rules, if any monthly loan installment not paid within prescribed time schedule.