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Bank Guarantee

  • Beneficiary – Those who wants to obtain Bank Guarantee from Bank.
  • Sanctioning Limit – One can avail Bank Guarantee facility after fulfilling necessary formalities and documents.
  • Criteria to avail Bank Guarantee
  • The person who wants to avail Bank Guarantee facility should be member / shareholder of the bank and also he must have Current / Saving Account with any of the Bank’s Branch.
  • If any one who is not shareholder of the Bank and wants to avail the Bank Guarantee facility, he has to become shareholder by depositing Rs. 1,010/- towards membership.
  • If member availing Bank Guarantee facility, deposited 30% amount of Bank Guarantee in Fixed Deposit with  the Bank, the commission rate of the Bank is 2% of the Bank Guarantee amount and the same proposal is required 2 guarantors and lien for the remaining amount.  If member availing Bank Guarantee facility, deposited 100% amount of Bank Guarantee in Fixed Deposit with the Bank, the commission rate of the Bank is 1% of the Bank Guarantee amount and the 2 guarantors is not required for the said proposal.
 
 

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