Kamana Sewa Bikas Bank has recently introduced new loan schemes with an attractive interest rate of 12.12%. These schemes offer customers the opportunity to access various types of loans, including home loans, MSME loans (Micro, Small, and Medium Enterprises), and EV loans (Electric Vehicle loans), all at a reduced interest rate compared to standard loan offerings.
Under the home loan scheme, eligible borrowers can receive loans up to 60% of the collateral’s valuation. The repayment period for these home loans can extend up to 30 years, providing customers with a long-term financing option for their residential property needs. However, it is essential to note that the loan amount must not exceed Rs. 1.50 crore to qualify for this particular loan scheme.
For those seeking financial support for their MSME ventures, the bank is offering loans equivalent to 80% of the collateral’s valuation. This can be a significant boost for small and medium-sized enterprises looking to expand or invest in their businesses.
As for the EV loan, the bank provides borrowers with the opportunity to access funding up to 80% of the vehicle’s price, making it more affordable for customers interested in purchasing electric vehicles.
To further streamline the loan application process and enhance customer convenience, Kamana Sewa Bikas Bank is ensuring that applicants receive the loan amount promptly. According to their media statement, once applicants submit all the necessary documentation, they can expect to receive the loan amount within three working days.
Overall, these new loan schemes by Kamana Sewa Bikas Bank aim to offer competitive interest rates and faster loan processing to cater to the diverse financial needs of their customers, ranging from homeownership to business expansion and environmentally friendly vehicle purchases.