Cosmos Co-operative Bank Loans

Based in Mumbai, Cosmos Co-operative Bank has a variety of loan schemes to meet the diverse needs of the customers. Cosmos Co-operative Bank loans come with attractive rates and terms.

About Cosmos Co-operative Bank Loans

Cosmos Co-operative Bank Loans can be broadly categorized into the following types:

• Cosmo loans
• Personal loans
• Business loans

1) Cosmo Loans

Cosmo Loans are innovative loan schemes with attractive interest rates. Different loans available under the Cosmo Loan scheme are given below:

• Home Loan
• Vehicle Loan
• Cosmo Mortgage Loan
• Cosmo Credit Loan
• Business and Industrial Loan
• Cosmo SME Loan

Salient features of Cosmo Loans

Given below are the salient features of Cosmo Loans:

• Quick processing of loans
• Minimum documentation
• Instant approval of loan

2) Business Loans

Cosmos Co-operative Bank has a range of business loans designed to fulfill the needs of business clients. Given below are the different types of business loans offered by Cosmos Co-operative Bank:

Credit for industries

• Term loan for making capital investment in fixed assets like plant & machinery, purchase/construction of office premises/factory shed, technical appliances/tools, furniture & fixtures and so on.
• Vehicle financing for commercial vehicles, utilized for the factory and conveyance purposes.

Working Capital credit facilities

• Cash-Credit for working capital needs, specifically to get credit against the security of bills receivable, stock or any other type of liquid assets.
• Non-Funding Limits like Bank Guarantee & Letter of Credit can be offered for getting big contracts/work orders.
• Bills Discounting for finance against acknowledged bills of the dependable consumers.

Overdraft facilities

Cosmos Co-operative Bank also offers a host of overdraft facilities which includes the following:

Overdraft against Term Deposits:

• Overdraft of upto 90% of Term Deposits is available with Cosmos Co-operative Bank as over the counter.
• Rate of interest on the overdraft account is charged @2% higher than the fixed deposit receipt rate for common customers, co-operative societies, non individuals and @1 % for Senior citizens.

Overdraft against Life Insurance Policy:

• You can avail an overdraft against your LIC Policy up to 75% of the surrender value of the policy.
• Interest on these overdrafts will be charged @12.50%.

Overdraft against National Savings Certificate:

• Overdraft of up to 60% of the par value of National Savings Certificate (NSC) is available.
• Interest on these overdrafts will be charged @12.50%.

Overdraft against shares:

• You can avail an overdraft against equity shares of renowned companies (List sanctioned by bank) maintained in DEMAT format.
• The maximum amount of overdraft available is upto 50% of market value of subscribed shares.
• Interest on these overdrafts will be charged @13%.

Overdraft against Gold:

• You can avail an overdraft against gold @12.50%.
• 10gr Hallmark Gold Rupees 6000/-
• 10gms Gold Rupees 5000/- .
• 1Kg Silver Rupees 8000/-

Cosmo Working Capital Loan Scheme

This loan scheme has been designed to offer financial assistance for the working capital requirements of small businesses. A loan amount of up to Rs. 25 lakhs is available. It is an operative overdraft program with cheque book facility. The interest rate is 12.5% per annum but is liable to change periodically.

3) Personal Loans

Besides the abovementioned loans, Cosmos Co-operative Bank also offers a range of personal loans which include the following:

• Home Loans
• Cosmo Mortgage Loan Scheme
• New Car Loan
• Vehicle Loan
• Cosmo Education loan scheme
• Cosmo Credit