Welcome to FINGROWTH BANK

Fingrowth Co-operative Bank Ltd.(formerly  The Urban Co-operative Bank Ltd)  is a multi- state co-operative Bank. Its area of operation extends to the state of Rajasthan and Gujarat. The Bank was founded in the year 1959 at Jaipur. All the 20 branches are Core Banking enabled and  provides anywhere banking facilities . More than 70,000 satisfied customers satisfy the award winning services of the Bank.

The Bank has a successful track record of paying uninterrupted dividend to its share-holders since 1994-95. Last dividend payout was @ 15% for the year 2014-15.

The Bank has robust asset portfolio in as much as the net NPA is Zero since 2003.

Besides offering wide range of asset and liability products, the Bank also sells Bank Assurance products, both life and non-life.

The Bank has issued RuPay ATM-cum-Debit cards to its customers which is accessable over 2 lacs ATM's Nationwide .  The Bank has also installed its own on-site ATMs. Bank is on the way to provide non-transactional NET-Banking and Mobile Banking facilities  to enable customers to access the account information at  their convenience.

 

Read More
House Loans Business-personal-loans Deposits Customer Services

Current Account

A Current Account launched especially for business section of the society in order to facilitate daily business transactions. Fasten your pace with a current account which offers you out of the best service experience by combining personalized service. Our customer friendly staff will allow you to Bank from the comfortable confines of your home and office. All our branches are computerized.

It is opened with a minimum amount of 4000 Rs. This account can be opened by any single individual or jointly or in the name of a firm, company, trust, co-operative society or any other institution etc. Nomination facility is available.

For details/queries, contact your nearest branch.


Learn more

Saving Bank

A Savings Account provides opportunity to develop the habit of small savings. Saving Bank account can be opened with a minimum amount of Rs.500. It is an ideal scheme for all sections of society to save for a secured future. This account can be opened by any individual, single or jointly with one or two or more or in the name of a trust or co-operative society. Cheque book is issued only on minimum balance amount of Rs.1000/- in the account. Nomination facility is available for this account. Pass book is issued for this account to refer to transactions record any time.
Kindly refer to our separate interest section for current interest rates.
For details/queries, contact your nearest branch...


Learn more

Cumulative Term Deposit

Any one can invest in small amounts every month and see the drop become an ocean. Through this account you can invest small amounts of money every month and end up with a large amount on maturity. Bank also allows you facility to give standing instructions by which the amount is debited from your account every month. It is opened for a maturity period ranging from 1 year to maximum 5 years. It can be opened with a minimum amount of Rs 100 and maximum amount no limit. It should be deposited monthly and interest rates are same as applicable for Term Deposit.
Nomination facility is available for this account.


Learn more

Fixed Deposit

This account can be opened in Individual name or jointly with others. Fixed Deposit account provides opportunity to depositor to save money for a specific period of time, ranging from 15 days to 7 years. Interest is calculated at simple interest method. Interest on the deposit payable to the depositor on monthly/quarterly basis. Premature withdrawal and loan against Fix deposit facility are available. Nomination facility available for this account.

Kindly refer to our separate interest section for current interest rates.
 

For details/queries, contact your nearest branch.


Learn more

Unique Deposit Scheme

Unique Deposit Scheme

This deposit account can be opened by any customer in individual capacity or jointly with others. Unique Fixed Deposit account provides opportunity to save money for a specific period of time, from 1 to 7 years. Interest is calculated at COMPOUND INTEREST METHOD. Premature withdrawal and loan facility is available on this deposit. Nomination facility available for this account. Kindly refer to our separate interest section for current interest rates.


For details/queries, contact your nearest branch.


Learn more

House Loan

Fingrowth Bank offers loans at compititive rate of interest for your dream home. We extend finance assistance for following -

1.    Construction of house

2.     Expansion or renovation of your existing home

3.     Purchase of flat or constructed house.


Who can borrow?


Permanent salaried employees/self employed person in business or Profession are eligible, provided they have adequate regular income to meet the repayment obligation.


What is the maximum limit of assistance?


Up to 75% of the cost of the house or  70% towards the cost of construction subject to maximum of Rs.70 Lac.


Where to approach ?


You may contact any of our branch, spread all over in Jaipur, Kishangarh and Palanpur, Gujarat or the Head Office of our bank.

Security:


Equitable mortgage of legally acceptable title document of non-encumbered residential house/flat in the name of borrower either self occupied or vacant.


What documents are required?


A) For salaried employees :
• Salary certificate/Income Tax Return
• Verification of employment from employer.
• If job is transferable, permanent address for correspondence.


B) For Self employed persons :
• Evidence of income
• Copy of bank accounts if not an account holder of the bank.
• Income-tax return of last 2 years alongwith PAN card.
• Residence proof

Rate of Interest:
Interest Rate is charged as per the prevailing rates from time to time.
Interest is charged at monthly rest and interests are calculated on reducing balance.
Repayment period :
Repayment of Installments is fixed keeping in view repaying capacity/comfort of the applicant subject to maximum of 20 years through PDCs/ECS (Debit)


Processing Fees & Charges:
• 0.7% of the amount of loan applied shall be charged as the processing fees at the time of application of loan. Minimum Rs. 500 shall be charged).
• On the sanction of loan 1% of amount sanctioned or Rs. 1 lac which ever is low shall be contributed as share money.
• Fees and charges shall be one-time & non-refundable
• Legal and other charges, if any , are to be born by the borrower.
 

Personal Guarantee:
Third party personal guarantee of two persons having good credentials and adequate net worth.
Income Tax benefits :
•Interest on loan for construction of new house, can be claimed upto Rs. 150000/- every year provided to the acquisition or construction is  completed within 3 years from the end of financial year in which the loan borrowed.
•A rebate of tax on the amount of payment made towards the coast of purchase/ construction of a new residential house property up to Rs. 20000/- In a year is allowable under Sec.88 of the I.T.Act.
Others :
Other general terms and conditions of the bank including insurance coverage of the property owner shall also be made applicable.


Learn more

Vehicle Loan

OBJECT:
To provide financial assistance for purchase of new car/jeep, motorcycle etc.
ELIGIBILITY:
i) Individual/firm- for personal use
ii) Individual/firm- for professionals
iii) Individual/firm- for taxi purposes
AGE LIMIT:
Individual having age between 21years to 60 years. If age is above 60 years, then coborrower is insisted upon.
PURPOSES:
Vehicle Loan may be granted for purchase of new vehicle including car/jeep/motorcycle for personal use, business use and also for taxi purposes.
FINANCIAL ASSISTANCE:
70% of the cost of vehicle including registration charges or 30 times of monthly income whichever is maximum.
MARGIN:
25-30% margin be kept on the cost of vehicle including registration charges.

DISBURSEMENT:
After execution of loan documents and obtaining request from the borrower, 90% of the sanctioned loan amount may be disbursed directly to the dealer. A cheque/DD of the disbursable amount may be issued in the dealer’s name with a forwarding letter stating that the hypothecation of the vehicle in favour of the bank should be endorsed on the registration of the vehicle to be issued from RTO. Similarly, an endorsement of
hypothecation should be made on the Insurance Policy. While releasing the disbursement of 90% of the sanctioned loan, Branch Manager should ascertained that the borrower has paid his contribution to the dealer and receipt of the same is furnished or his contribution may be got deposited with the bank and a DD/cheque of the total payment (90% of sanctioned loan and contribution of the borrower) may be issued to the dealer so as to ensure that full amount of the vehicle is paid to the dealer.

Remaining amount of 10% of sanctioned loan amount may be released to the borrower after obtaining the following documents:
i) Photocopy of the invoice to be verified by the Branch Manager with original & seal of the bank to be affixed on original specifying hypothecation in favour of the bank.
ii) Receipts of the payments made by the party and the bank to the dealer.
iii) Photocopy of the Registration Certificate of the vehicle issued by the RTO, verifying an endorsement in favour of the Bank.
iv) Photocopy of the Insurance Policy/Cover Note after verifying an endorsement in favour of the Bank.
v) The chasis no./engine no., mentioned on the Registration Certificate be verified from the vehicle at the time of carrying-out the physical inspection of the vehicle.
INTEREST RATE:
As applicable from time to time.
REPAYMENT OF LOAN:
In 3-5 years (36-60 months), depending upon the quantum of loan and repaying capacity of the applicant. PDC’s must be obtained for monthly installments.
SECURITY:
Hypothecation of the vehicles i.e. car/jeep, motorcycle etc. which is being financed by the bank. If system exists, an accidental/LIC Policy of the borrower may also be insisted upon.
Additional Security:
If loan is to be considered for the vehicle to be used for taxi purposes then an additional security of immovable property may be insisted upon.
GUARANTEE:
The third party personal guarantee of two persons having adequate net worth may be insisted upon.
PROCESSING FEE:
As per norms may be charged.
OTHER GENERAL TERMS & CONDITIONS:
All usual other terms & conditions of the bank including prepayment charges, if applicable, may be specified.


Learn more

Mortgage OD

Fingrowth Bank offers at competitive interest rate loan-limit to meet the various needs/ requirement of the individuals/self-employed persons or professionals/business persons by mortgaging immovable property.
 

Who can borrow ?
a) Individuals, who are

i)    Employees.
ii )  Professionals
iii)  Businessman/Others who are Income tax payee
b)   Net monthly income for salaried persons is not less than Rs. 5000/-p.m. or net annual income is not less than Rs. 60,000/- in case of self
       employed and others.
      (The genuine income of spouse may be considered if he or she is co-borrower)
Age Limit : Maximum age limit: 60 years.


Where to approach ?
You may contact any of our branches, spread all over in Jaipur, Kishangarh (Ajmer) and Palanpur (Gujarat) or the Head Office of our Bank.

Maximum limit of assistance :
Mortgage O.D. Limit
a) Four times of yearly income
b) Minimum amount Rs.1.00 Lacs and maximum amount Rs. 10.00 Lacs.


What documents are required ?
Duly filled specified application form along with requisite documents.
A) For salaried employees :
• Salary certificate/Income Tax Return
• Verification of employment from employer.
• If job is transferable, permanent address for correspondence.
B) For Self employed persons :
• Evidence o f income
• Copy of bank accounts if not an account holder of the bank.
• Income-tax return of last 2 years along with PAN Card.
• Residence proof

Security : Legally acceptable title documents of non-encumbered residential house /flat/Urban property/Commercial/Industrial property in the name of borrower either self occupied or vacant , not mortgaged to any other institution/bank for any purpose.


Margin : 50% of market value of property. The value shall be assessed by the approved valuer of the Bank.
Rate of Interest :As per interest rates prevailing from time to time.
Disbursement :Term Loan : In one & two installments as per applicant’s/borrower’s need.
O.D.Limit : Borrower would withdraw the required amount upto sanctioned loan/limit which would be gradually reduced half yearly.


Personal Guarantee : Third party personal guarantee of two persons having good credentials and adequate net worth.
Repayment Period :
It would be reduced by 10% on half yearly basis so that O.D. Limit under mortgage loan scheme is finally paid in 10 years.
Processing fees & charges :
• 0.5% of the loan amount.
• After sanction of loan 1% of Loan sanctioned or Rs. 1 lac whichever is low shall be contributed as share money.
• Fees and charges shall be one-time & non-refundable.
• Legal and other charges, if any, are to be borne by the borrower.
Others : Others general terms and conditions of the Bank including Insurance coverage of the property, shall also made applicable.


Learn more

Shop/Commercial Loan

PURCHASE/CONSTRUCTION OF COMMERCIAL BUILDING/SHOP

1. Purpose/Object:

The main object of the scheme to provide financial assistance to meet the various needs/requirement of the individuals/self-employed persons or Professionals/business persons for purchase/construction of commercial building/shop.
 

2. Eligibility:


- Individuals ( it may include co- borrower) who are-
Self employed persons.
Professionals
Businessman
b) Others –HUF, Trust ,firm including partnership firm, group, association of persons & Pvt/ltd Company.
 

3. Age limit:
Maximum age limit 60 years. If age is above 60 years than co-borrower be Insisted upon.
 

4. Loan amount:
Admissibility of loan be assessed based on the following:
1) 48 times of monthly income or 4 times of yearly income. Or
2) 75% of registered value Or
3) On the basis of project report. Or
4) Maximum amount /up to Rs.100 lacs.

Note Relaxation:
i.In genuine cases loan limit up to 5 times of annual income may be considered by the Loan sub committee. The loan amount would be lowest of the above.
ii. Relaxation in margin up to 5% be considered by the Loan sub-committee (i.e. up 80% of registered value be considered by LSC instead of 75% as above)
 

5. Security:  Equitable mortgage of legally acceptable title documents of non- encumbered shop/ commercial building/Urban property allotted by the JDA/other municipal authority in the name of borrower either self occupied or vacant, is not mortgaged to any institution/bank for any purpose. In case of shop being purchased from builder in a commercial building/trade centre, the following documents would be required:
I) Original stamped agreement executed with the builder on Rs.100/- stamp paper.
II) Receipts of the payment made to the builder.
III) Certified copy to permission letter granted by the competent authority (JDA/JMC etc.) to the builder.
IV) Certified copy of approved plan of building /commercial complex.
V) Any other document, if required.


Learn more

Mortgage Loan

Fingrowth Bank offers mortgage loans at competitive interest rate to meet the various needs/ requirement of the individuals/self-employed persons or professionals/business persons by mortgaging immovable property.
 

Who can borrow ?
a) Individuals, who are

i) Employees.
ii) Professionals
iii) Businessman/Others who are Income tax payee
b) Net monthly income for salaried persons is not less than Rs. 5000/-p.m. or net annual income is not less than Rs. 60,000/- in case of self
employed and others.
(The genuine income of spouse may be considered if he or she is co-borrower)
Age Limit: Maximum age limit: 60 years at the time of applying loan.


Where to approach?
You may contact any of our branch, spread all over in Jaipur, Kishangarh (Ajmer) and Palanpur (Gujarat) or the Head Office of the Bank.


Maximum limit of assistance:
Mortgage (Team) Loan
a) Four times of yearly income
b) Minimum amount Rs.1.00 Lacs.


What documents are required?
Application form duly filled in all respect along with requisite documents.
 

A) For salaried employees :
• Salary certificate/Income Tax Return
• Verification of employment from employer.
• If job is transferable, permanent address for correspondence.

B) For Self employed persons :
• Evidence of income
• Copy of bank accounts if not an account holder of the bank.
• Income-tax return of last 2 years along with PAN Card.
• Residence proof


Security : Legally acceptable title documents of non-encumbered residential house /flat/Urban property/Commercial/Industrial property in the name of borrower, either self occupied or vacant  and not mortgaged to any other institution/bank for any purpose.
Margin: 50% of market value of property. The value shall be assessed by the approved valuer of the Bank.
Rate of Interest: As per interest rates prevailing from time to time.
Disbursement: Term Loan: In one & two installments as per applicant’s/borrower’s need.


Learn more