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 he must have Current / Saving Account with any of the
Bank’s Branch.
If anyone who is not shareholder of the Bank and wants to avail the Bank Guarantee
facility, he has to become shareholder by depositing Rs. 1000/- plus 100 entry fees
and GST towards membership.
If member availing Bank Guarantee facility and collateral security 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 two
guarantors and lien 70% Mort. 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 are not required for the said proposal
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