Maharashtra-based Zoroastrian Cooperative Bank Ltd (ZCBL) is making waves with its diverse loan offerings that have garnered widespread consumer interest.
A press note sent by the bank reads, “One of the standout offerings is the Solar Loan designed to support the installation of rooftop or ground-mounted solar units, catering to both industrial and residential customers”, the press note stated.
“This product stands out with its attractive financing terms—up to 85% of the total project cost can be covered, with a flexible repayment period extending up to seven years. The loan is free from prepayment charges, allowing for early closure without penalty, and features a competitive interest rate starting as low as 7.99% p.a. making it an attractive option for those investing in renewable energy solutions”, it read.
Another attractive offering from the Zoroastrian Bank is its Car Loan scheme, designed for fast and hassle-free vehicle financing. This product promises approval within just four hours, providing swift access to funds for customers eager to make a purchase.
The interest rate is competitive, starting at 8.25% p.a., making this scheme an appealing choice for those looking for both efficiency and affordability in their car financing needs.
Additionally, the Education Loan for Coaching Classes has become popular among students and families, offering loans up to Rs. 5.00 lakhs with the added advantage of zero processing fees. This feature makes it an accessible and cost-effective choice for those seeking educational support, especially for supplementary courses and professional coaching.
By catering to a range of financial needs, from green energy to education and quick car financing, Zoroastrian Cooperative Bank is setting a benchmark in customer-centric banking solutions, solidifying its reputation in the cooperative banking sector.
While speaking to the Indian Co-operative, Daljit Dogra, MD & CEO emphasised that the bank will continue to align its strategies to provide flexible financial solutions to its Customers and sustaining profitable business growth.
It may be mentioned that ZCBL recorded excellent performance during March 2024. The bank registered growth of over 20% in Advances. Its Net NPAs are Zero and Gross NPAs have reduced to 2.43%.
The bank has robust IT infrastructure and has one of the best core banking software, Finacle by Infosys. The bank has automated Internal Audit, HR functions and has also introduced Loan Origination System for some of the Retail Loan Products, reads a press release.
