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Details of Sureties for Securing Loan.

ID Loan Limit Guarantee Required
1 Upto Rs. 1,00,000/- Personal Surety of One Govt. Employee or Two Reputed Persons of that area having annual income 1.5 times the loan amount is taken. The income of sureties is calculated separately. As regards it consider Sarpanch, Nambardar or any other Person against who has not been convicted by any Court. The personal surety should also not be defaulter of any Bank.
2 Collateral Security Above Rs. 1,00,000 Collateral Security is mandatory, the value of the immovable property should not be less than 1.5 times the loan amount.
3 In all the cases Ten post dated cheques are obtained from beneficiaries