Welcome to Shimla, Himachal Pradesh

The Shimla Urban Co - Operative Bank Limited

Head Office: 0177-2652593

Branch Office: 0177-2805489


Loan and Advances

Bank Provides loans and advances to its members/non-members for the following purpose.

  1. Personal/Consumer Loan for medium Term.
  2. House Building Advance.
  3. Vehicle Loan
  4. Loan against property
  5. Loan against Deposits.
  6. Current account deposits
  7. C.C Hypothecation Limit.

Personal/Consumer Loan :- Personal/Consumer loan can be granted to a maximum of Rs. 3.00 Lakh to Govt. employees and Rs. 1.00 Lakh to business member applicant.

House Building Advance:- The house building advance is granted to Govt. Employees against the security of their salary and the plot including buildup house to a maximum amount of Rs. 20 lakh BP + G.P X 75 times whichever is less, however H.B.A may be advanced to business sector judging their income from ITR for 15 years maximum.

Vehicle Loan :- vehicle loan is granted to employee as well as business sector to the extent of Rs. 8.00 lakh and above and margin money should be 15%.

Loan against Property:- Loan against property can be granted to applicant member having property in the area of operation of the bank assessing its value up to the maximum amount of Rs. 10.00 lakhs.

Loan against Deposits:- Loan against deposits can be obtained by the depositors at any time upto 85% of their own deposits at any time.

Loan Against NSC/KVP/LIC etc:- Loan against NSC/KVP/LIC can be granted to applicant member upto 85% of its surrender value.

C.C Hypothecation Limit:- C.C Hypothecation Limit may be sanctioned to an applicant member who is an business man against stocks and collateral security.

Special Feature:- 1. We do not charge any processing fee on any kind of loan.

Rate of Interest on loans and advances.
Sr.No Type of Loans & Advances Slab Rate of Interest
1 Education Loan Upto 4.00 Lakh 11.25%
2 House Loan Above 4.00 Lakh
Upto 5 years
5 years to 10 years
3 C.C. Hypothecation Limit Upto 2.00 Lakh
Above 2.00 Lakh
4 Personal/Consumer Loan for Short/Medium Term or long term   15.00%
5 Vehicle Loan Upto 2.00 Lakh
Above 2.00 Lakh
6 Loan against Property   14.00%
7 Loan Against Deposits 2% above the rate being paid on deposits  
8 Loan against NSC/KVP/LIC   15.00%