our Bank offers a Surety Loans to customers who require financial assistance based on the guarantee (surety) provided by one or more acceptable guarantors. This loan is designed to support customers for personal or business needs where tangible collateral security is not available, but reliable sureties are provided.
In case of default, delay, or irregular repayment, penal interest @ 2% per annum on the actual applicable interest rate shall be charged as per bank rules.
Customers who repay the loan amount regularly and on time through monthly installments are eligible for a 2% interest discount.
