A loan scheme provided by District Central Cooperative Banks for purchasing consumer durables like TV, fridges, and two-wheelers. Loan covers 75% of the product cost at an interest rate of 14%.
District Central Cooperative Banks and through its Branches: For Consumer Durables T.V., Fridge and Two Wheelers Loan - Introduction
The District Central Cooperative Banks and its Branches offer the Consumer Durables – TV, Fridge and Two Wheelers Loan scheme launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu. The scheme provides loans for the purchase of consumer durables, including TVs, refrigerators, and two-wheelers. The loan covers up to 75% of the product cost, with no upper ceiling, and carries a 14% interest rate (subject to change).
Benefits
- Access to Loan: Provides access to 75% of the cost of consumer durables.
- Interest Rate: The interest rate is 14% (subject to change).
Eligibility
- The beneficiary should be a resident of Tamil Nadu.
- Loans should be applicable only for consumer durables such as TV, fridge, and two-wheelers.
Exclusions
Application Process
- Step-1: The interested applicant should collect the application form from the District Central Cooperative Banks or its branches.
- Step-2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attested, if required).
- Step-3: Submit the duly filled and signed application form along with the documents to the concerned authority.
- Step-4: Request a receipt or acknowledgment from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, a unique identification number (if applicable).
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