Orissa State Co-operative Bank Ltd | OSCB Bank Orissa

Orissa State Co-operative Bank Ltd – Know about Orissa State Co-operative Bank Ltd Retail loans, Housing loans, Motor vehicle loans and working capital loans. The Orissa State Co-operative Bank, a Scheduled Bank under RBI Act was registerd in the year 1948 as the Apex Bank of the short term Coop.Credit structure of Orissa with an objective of Development of the agrarian economy of Orissa by catching the credit equipment of the terms of the state

In recognition of the outstanding performance of the Bank in all growth parameters, the National Bank for Agriculture & Rural Development (NABARD) awarded the Bank with the best performance award which was handed over by the Hon’ble Union Minister of Finance, Shri Yashwant Sinha on July 12, 2001.

Orissa State Co-operative Bank LtdHousing Loans

The bank is financing Housing Loan under its “APNA GHAR “scheme. Maximum amount under this head is Rs.500000.00 for purchase of readymade house or construction. For repair, renovation or addition/ alteration the limit is Rs.50000.00.

The rate of interest is 13% on reducing balance. Maximum repayment period is 15 years with 18 months moratorium period.

Motor Vehicle Finance

For any sort of Surface Transport and Water Transport vehicle both for commercial and personal purpose.

  • Requirement / Formalities
  1. 75% of the total cost of vehicle, including insurance and registration.
  2. Repayable in 60 monthly installments reducing balance.

Business Enterprise

Terms Loan for

  1. Fixed Assets for Projects.
  2. Commercial Complex and Kalyan Mandap
  3. Hotels, Tourist Resorts, Health Care units.
  4. Equipment and Machinaries.
  • Requirement / Formalities
  1. Maximum 75% of the fixed Assets
  2. Maximum repayable periods – 10 years.
  3. Interest in reduced balance method.

Working Capital Loans

  1. Retail Business
  2. Trader
  3. Wholesaler
  4. Project Solution
  • Requirement / Formalities
  1. Maximum 75% of working capital requirement subject to Stock Holding.
  2. Quarterly Interest on days balance.