We offer 4% Interest on Savings Bank Deposit as per RBI’s Directive. The customer can open Savings A/c for his/her minor children.
Contact us: https://gmcbank.in/saving-account.php
On World Hepatitis Day, let us confront the disease with a brave heart and a strong mind. Don’t let Hepatitis define your life. Happy World Hepatitis Day.
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A recurring deposit account is a type of deposit account offered by banks and financial institutions, that helps you build savings through regular monthly deposits of a fixed amount decided mutually by you and the bank
The heart is the lifeline of the body, the body runs till it beats. Taking care of the heart is the key to strength. Nothing works better than a young heart. Have a healthy world heart day. Visit: https://www.facebook.com/gmcbank/photos/a.139621937578482/205647330975942/
The financial requirement is a never-ending need for the public today and that is the purpose behind banking operations. Banks and financial institutions play a great role in catering to different financial needs for everyone be it enterprises or even the public.
To fulfill monetary requirements banks and financial institutions have introduced a wide range of loan facilities, where the individual or the entity can avail a certain amount at once for which they have to make specific interest payments over a tenure. The different loans banks give are- personal loans, auto loans, housing loans, gold loans, and even the amazing consumer durable loan amongst others.
What is a Consumer Durable Loan?
A consumer durable loan is a loaning facility provided by banks and different financial institutions, taken for the purchase of different electronic appliances and domestic/ household appliances that have a handsome price. This is an unsecured type of loan and the loaners only check income reports and the CIBIL score before granting this loan.
Let’s have a look at the 5 benefits of this attractive and consumer-friendly loan!
Not all household needs are affordable and the general necessities change and upgrade with the up-gradation of lifestyle and passage of time, and not all of them are attainable. This is when the consumer durable loan can be of great help. Here are the positives of taking the loan-
Low interest
Consumer durable loans are available at lower interest rates than any other loan service. Though the rate may be different from all banks and financial institutions it will be more affordable and cost-effective than other credit facilities.
Flexible tenure
These loans have a considerable long tenure following the loaning amount. Generally, a consumer durable loan ranges from 6 months to two years. You can get your loan for the tenure by your repayment capability.
Minimum Documentation
A consumer durable loan is an unsecured type of loan and there is negligible documentation required for application of the loan. All you need is to do is fill in the form, your income tax return, and the latest tax bill and the loan will be processed.
No Collateral
When you apply for a consumer durable loan, there is nothing you put at stake. There is no requirement of collateral to be presented as security against the loan amount. Unlike house loans, home loans, and other different financial services.
Quick process
As we discussed in the earlier points there is very little documentation, no collateral, and negligible processing charge, no foreclosure too! So the entire process of approval and application is quicker than usual.
In the search for the most reliable consumer durable loan provider?
Gujarat Mercantile Co-operative Bank Ltd is a popular name for providing custom consumer durable loans at the best rates in town. We have a team of highly skilled and dependable banking professionals, getting you the most secure, efficient, and convenient financial services. We have special benefits for senior citizens, and also nomination facilities so that all the financial needs and requirements of our consumers are achieved.
Happy Indian Air Force Day 2020 to All the Air Warriors of the Nations, Thank You for Protecting the Skies Like a Guardian to Helping in Harsh Problems.
The financial requirement is a never-ending need for the public today and that is the purpose behind banking operations.
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A personal loan is a loaning facility provided by different financial institutions and banks to various consumers individually for multiple purposes to meet their financial requirements. This is an unsecured credit facility offered by the bank on the basis of different factors such as- employment history if any, repayment capacity, income level, profession, and credit history. It is generally used to meet immediate and nominal financial requirements.
In this type of loan, the amount of loan and the interest are determined from your monthly income, liabilities, and the profits you earn, and the lender’s assessment of the application. If you can pay off the loan before the tenure completion then you are required to pay a certain penalty on the outstanding amount, which then becomes the bank’s earning, compensation for the personal loan tenure till maturity.
Now we know what is personal loan! Let’s take a look at the different benefits it has for us!
Like how every financial instrument has something advantageous and unique for the customer, even personal loans have a wide range of traits we can benefit from.
Here are the different boons that banks get us through this personal loan facility-
Versatility – Unlike loans like an auto loan, home loan, this type of loan can be extensively used to repay and meet varied types of financial debts and needs, small or huge. A personal loan has no fixed scope, the borrowings can be used where ever you want to use them.
No stakes – For most loaning facilities, you are supposed to submit an asset or a valuable possession such as home documents, etc as collateral, but this is not the case with a personal loan, you do not need to have collateral while applying for this loan. The loaner should be convinced that you shall pay the amount back.
Availability – Not all banks and financial institutions provide all loaning facilities and the newly evolved loaning instruments. But all traditional and new banks and financial institutions provide personal loans, they are one of the most primitive financial instruments in the banking domain.
Credit rate negligence – Do not worry if you have a bad credit rate or score, you shall avail a personal loan from your banking partner, but it might have a higher interest rate than normal. The other factors must be convincing enough to the loaner.
Fixed payment – There are no fluctuations in the amount that you shall be liable to pay each month, in case of a personal loan. The payment against this type of loan remains fixed right from the time of the loan application to maturity or until you pay it off.
Quick approval – The procedure of personal loan is reasonably briefer than the other types of loans. As soon as the loan is approved by the bank or the financial institution the money is credited into your bank account within a few days.
Flexibility – Financial institutions and banks offer personal loans as per your requirements and fitting to your economic standing. In this type of loan, you decide the amount you want basing on your credit score, the renewal, and even the maturity time and tenure!
Documentation – Unlike other loans such as gold loan and machinery loan, this type of loan involves minimum documentation for loan approval as there is no involvement and requirement of collateral as discussed earlier.
Thinking of applying for the best personal loan facilitator?
Gujarat Mercantile Co-operative Bank has become one of the most preferred banking partners in the economy, providing highly reliable, efficient, and convenient banking services, not just to individuals but also to entrepreneurs and businesses. We have special benefits for senior citizens, and also nomination facilities so that all the financial needs and requirements of our consumers are fulfilled and we achieve the goal of customer satisfaction.
Everyone dreams of having a home of their own, in today’s time due to the high inflation rate and the ever-increasing property rates and land revenues, the price of having your own home becomes eventually greater, and as time passes prices of land will reach the skies. If you want to get yourself a home, banks and financial institutions get you the aptest financial instrument to fulfill this dream, Home loan!
What is a home loan?
A home loan is also known as the housing loan, a banking service offered to all by the different banks and financial institutions, wherein the customer borrows a certain amount or full amount of the house price the institution or the bank to purchase the home and in return imburses the amount in different payments as interests on the different decided terms and conditions.
Now let’s take a closer look at the benefits of home loans!
Less Taxation
A home loan is considered as the biggest tax-saving instrument, reducing the liability of the customer to a great rate of about 5 lakhs on the house you purchase, under the Income Tax Act Sections 80, 24, etc, passed and issued by the government.
Great Liquidity
When you purchase a house on loan you are required to pay only a certain amount instead of a lump sum, that too within a tenure set mutually by you and the bank, so that you have good liquidity of funds to fulfill other needs.
Capital Appraisal
When you buy a home, as and when time passes, the rate of the land/house will get appreciated and get you higher monetary benefits in the future, than the rate you had to put in while the purchase.
Convenient tenure
Home loans are generally taken for hefty amounts or sometimes for the full amount, so the tenure allowed for these types of loans is much longer, giving you enough repayment time to clear off the loan before it becomes a debt.
Are you in search of the best housing loan provider in town?
Apply for GMC bank housing loan today, and fulfill your wish of having your dream home. Gujarat Mercantile Bank has become a well-established name in providing the best in class deposit and loaning facilities, at no processing rates, a quick approval procedure, and an attractive housing loan interest rate of 2.50%.
Gujarat Mercantile Co-operative Bank Ltd is a popular name for providing custom consumer durable loans at the best rates in town. Visit: https://gmcbank.in/consumer-durable-loan.php
Eid-E-Milad-Un-Nabi is the twelfth day of Rabee-Ul- Awwal, the day when the prophet Mohammed was born. May God fulfill all your wishes and fill your life with all the cheer, health, and glory. Eid-E-Milad Un-Nabi Mubarak!
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Finance, as we all know, is key to run a business. It is often considered as the bloodline of different business operations, provided you spend and invest wisely, also saving some surplus funds for unforeseen risks, that might hamper the business.
The availability of funds to make the business sustain is one concern that every business has to tackle at any stage or else the business fails. In such cases, the entrepreneur must fall back on investors, banks, and other financial institutions, to continue earning a livelihood.
Here are a few financial options that an entrepreneur can utilize for finance!
In today’s time, there has been an increase in the number of businesses and startups due to the different opportunities, technologies and most important the passage of time, and banks and other financial institutions and even individuals openly go into help businesses prosper with alternatives like-
Current Account
Business Loan
Angel Investors
Venture Capital
Government Grants & Subsidies
The aptest financial instrument that a businessman must deal with is the current account, here’s why?
A current account is a zero balance account, favorable for carrying out regular transactions that can be beneficial for the smooth flow of business operations. It enables entrepreneurs to carry out recurring expenses such as salaries, etc, so that payments are done on time even if other irregular payments remain unfulfilled.
Having a separate current account in the name of the business marks professionalism and show the creditworthiness of your enterprise. Most importantly it shows the financial standing of your business along with the fund flow of the business and not to forget whether the business is facing profits/losses.
Now let’s look into how beneficial is a current account?!
Multiple Transactions
When you open a current account you can carry out any amount of financial functions as it has the capability of handling large volumes of receipts and payments, involved in your business, and that too, very systematically.
Limitless Withdrawals
The current account is the financial option that allows an unlimited amount of withdrawals, that lie per the levied transaction fees, for the smooth flow of the business. So, it is highly for businesses with multiple or huge regular transactions.
Overdraft Facility
The overdraft is a facility that enables an entrepreneur to overdraw desired balance so, that he can meet financial shortfalls that might affect a business otherwise, but for a temporary basis, until the date the bank or financial institution provides.
Extra Earning
This attracts the entrepreneur a great deal towards opening a current account. When a current account is active, you earn a little extra as the interest on the idle funds in the account, which can help him evade losses and pay other nominal business expenses.
Complimentary Services
When you open a current account, you can harness the perks of digital financial services of the new-age such as mobile banking, internet banking, Net transfer, etc that enable the businessman to carry out transactions effortlessly and securely.
Additional Benefits
Being a business, when you have an active current account in the name of your enterprise you get additional advantages such as- free inward remittances, deposit, and withdrawals at any location, multi-location transfer, etc.
Searching for the most reliable banking partner in Ahmedabad?
Gujarat Mercantile Co-operative Bank is a well-reputed name in the banking sector of the state. We guarantee high security, accessibility, and convenience with all our banking services. We aim to dedicate our energy towards the allocation of the rural and urban segments in the most transparent manner and providing them with modern technology-driven financial services. Open your GMC bank current account today!
Unity is strength. March with mankind on Sardar Vallabh Bhai's birthday also known as the world Unity day today. Remember we are a nation with unity in diversity. Have a Happy Sardar Vallabhbhai Jayanti
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May all of you have a spook-titular Halloween! May you have the most candy coming your way and all the appreciation for your horrific attire. Also, enjoy the scrumptious Halloween feast with kith and kin. Visit: https://www.facebook.com/gmcbank/posts/213596173514391
Gujarat Mercantile Co-operative Bank has become one of the most preferred banking partners in the economy, providing highly reliable, efficient, and convenient banking services, not just to individuals but also to entrepreneurs and businesses. Visit: https://gujaratmercantilebankltd.wordpress.com/2020/09/12/benefits-of-a-personal-loan/
Gujarat Mercantile Co-operative Bank is an established name in the banking sector of the economy. We guarantee high security, accessibility, and convenience with all our banking services.
Finance, as we all know, is key to run a business. It is often considered as the bloodline of different business operations, provided you spend and invest wisely, also saving some surplus funds for unforeseen risks, that might hamper the business.
The availability of funds to make the business sustainable is one concern that every business has to tackle at any stage or else the business fails. In such cases, the entrepreneur must fall back on investors, banks, and other financial institutions, to continue earning a livelihood.
*Here are a few financial options that an entrepreneur can utilize for finance!
*
In today’s time, there has been an increase in the number of businesses and startups due to the different opportunities, technologies and most important the passage of time, and banks and other financial institutions and even individuals openly go into help businesses prosper with alternatives like-
Current Account
Business Loan
Angel Investors
Venture Capital
Government Grants & Subsidies
The aptest financial instrument that a businessman must deal with is the current account, here’s why?
A current account is a zero balance account, favorable for carrying out regular transactions that can be beneficial for the smooth flow of business operations. It enables entrepreneurs to carry out recurring expenses such as salaries, etc, so that payments are done on time even if other irregular payments remain unfulfilled.
Having a separate current account in the name of the business marks professionalism and show the creditworthiness of your enterprise. Most importantly it shows the financial standing of your business along with the fund flow of the business and not to forget whether the business is facing profits/losses.
Now let’s look into how beneficial is a current account?!
Multiple Transactions
When you open a current account you can carry out any amount of financial functions as it has the capability of handling large volumes of receipts and payments, involved in your business, and that too, very systematically.
Limitless Withdrawals
The current account is the financial option that allows an unlimited amount of withdrawals, that lie per the levied transaction fees, for the smooth flow of the business. So, it is highly for businesses with multiple or huge regular transactions.
Overdraft Facility
The overdraft is a facility that enables an entrepreneur to overdraw the desired balance so, that he can meet financial shortfalls that might affect a business otherwise, but for a temporary basis, until the date the bank or financial institution provides.
Extra Earning
This attracts the entrepreneur a great deal towards opening a current account. When a current account is active, you earn a little extra as the interest on the idle funds in the account, which can help him evade losses and pay other nominal business expenses.
Complimentary Services
When you open a current account, you can harness the perks of digital financial services of the new-age such as mobile banking, internet banking, Net transfer, etc that enable the businessman to carry out transactions effortlessly and securely.
Additional Benefits
Being a business, when you have an active current account in the name of your enterprise you get additional advantages such as- free inward remittances, deposit, and withdrawals at any location, multi-location transfer, etc.
Searching for the most reliable banking partner in Ahmedabad?
Gujarat Mercantile Co-operative Bank is a well-reputed name in the banking sector of the state. We guarantee high security, accessibility, and convenience with all our banking services. We aim to dedicate our energy towards the allocation of the rural and urban segments in the most transparent manner and providing them with modern technology-driven financial services. Open your GMC bank current account today!
Apply for GMC bank housing loan today, and fulfill your wish of having your dream home. Gujarat Mercantile Bank has become a well-established name in providing the best in class deposit and loaning facilities
Visit: https://gujaratmercantilebankltd.wordpress.com/2020/09/01/all-you-need-to-know-about-home-loans/
Gujarat Mercantile Co-operative Bank is a well-reputed name in the banking sector of the state.
Computers have been the mother of the most technological revolution. Computers have been a boon to the forward life. Have a safe computer security day! Your data is equal to gold and the computer, a gold mine!
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Guru Nanak was the first of then ten saints to find Sikhism. Happy Guru Nanak Jayanti! May this Guru Purab bring you all the love and luck from the divine for a great life ahead. Visit: www.facebook.com/gmcbank/photos/a.139621937578482/226630942210914/
A consumer durable loan is a loaning facility provided by banks and different financial institutions, taken for the purchase of different electronic appliances and domestic/ household appliances that have a handsome price.
The Fixed Deposit is a service rendered by the bank or any other financial institution, wherein the customer receives interest earnings on his monetary investment from time to time. Every bank has its own policies and tenures behind its fixed deposit facility duties.
In olden times transactions would take place through a barter system, then came in the coinage after which paper was introduced to the currency production industry. Banks were set-up and then introduced the plastic money system consisting of cards and other financial tools. Along with the advancement of time and the onset of the internet era and the trend of going digital, everyone started using the different electronic and digital payment systems.
E-Payments, what they are?
E-payments are different transactions of money exchange in return for the varied services and products availed from the provider, powered by the online system assisting different payment gateways. There are various modes of e-payments such as- mobile payments, different bank, and net transfers, e-wallets amongst others.
**Here are some advantages of this futuristic way of transactions, giving you a smarter life!
Quick**
Carrying out an e-payment system is way quicker than the other modes of payment as there is no requirement to travel to places or have an actual physical transaction of money, all you need to do is enter the desired amount and send it to the desired account.
Authenticated
E-payments have the information that we approve them to have and also they have high security. The data can be accessed only by the password given to you or the different biometrics. Any transaction or reach requires authentication.
Eco-friendly
There is no requirement for paper notes or coins and other currency for the exchange against services and products. This shows that e-payment is a sustainable way to save the environment, due to reduced use of paper from trees.
Automated
When you opt in to go for the e-payment mode for different transactions, you need not go for saving your bank details and certain personal details, every time you make a payment. The digital mode of payments saves all details on your approval for future payments.
Online sale
The introduction of e-payment into the financial system of the economy has enabled the online exchange of money and it has opened avenues for the online procurement of different services and goods.
E-payment has a great future on its path of supporting the economies, let's take a look!
Though the mode of e-payments has grabbed on to most of the different sectors of the economy involved in services, production, retails, it hasn’t been recognized as the universal system of payment for the country, the days are not far as the e-payment system has been approved by the Reserve Bank Of India under their guidelines as a part of the financial system of the economy. With further advancement in technology and up gradation in lifestyle, e-payments will have greater features and enhanced performance and functionality.
Searching for the most stable e-payment service providers in town?
Gujarat Mercantile Co-operative Bank has gained a pioneered name in the economy for providing the best in class digital banking services, especially the e-payment system being supported with a variety of internet domains, including e-commerce websites and entertainment platforms. You can also pay for the different recurring expenses and government bills effortlessly with us.
Education is the backbone of any country. It is a collective provision of learning and practicing knowledge, skills, values, and culture in a systematic structure. It betters lifestyles and upgrades the personal self, it also adds value and accelerates the growth of the economy as a whole.
In order to get educated, one must be enrolled in institutions providing different resourceful insights into the essentials of life such as schools and colleges and other educational institutions. Gone are the days when education was provided free of cost or by gurus in exchange for guru Dakshina, in today’s time education is one of the most profitable sectors of the economy. It is of great value as it prepares the youth of tomorrow to become utter experts in their field of expertise backed by the different institutions they have gained knowledge from. Getting your child educated today is an expensive affair and even education fees now are touching the skies.
Banks can solve this!
Finance is an ever growing need accelerating by the hour. Like for every other thing in the country, education requires a good amount of money is it for school, college, or tuition fee. Banks help out customers and the general public in fulfilling their financial requirements. To solve the question of finance for education, banks bring you the custom education loan to fulfill your child’s dream of being something in life.
What is an education loan?
An education loan is the sum of money borrowed from the different banks and financial institutions for benefits in post-secondary education fees and other higher education expenses. The loan covers various educational expenses such as- the cost of tuition, books, and supplies, in case of degree pursual out of the country than the loan even covers essential expenses such as stay and security and etc.
Here is a list of the advantages of an education loan!
Retained savings
When you opt for an education loan, all the funds that you have saved in order to get your child educated are saved and can be used for urgent requirements and greater deeds for the future. In short, all your savings remain untouched and you are to pay a relatively nominal fee.
Coverage
An education loan not only the main college fee but other expenses revolving around the educational spect too such as- hostel expenses, exam fees, library charges, lab fees, cost of books, travel expenses, and so on. This in turn reduces the stress of the financial burden on the entire family and conveniently takes care of the educational process.
Tax benefit
Under Section80E of the Income Tax Act, the interest you pay is eligible for an income tax deduction, which means you pay much lesser and that too at flexible intervals. The income tax deduction is applicable on a loan for eight years.
Moratorium
An education loan also provides you with a moratorium, which is the holiday term of a loan, where no amount of interest is to be paid. This decreases the financial burden on the individual. The moratorium period of an education loan ranges from 6 months to one year.
Looking for the most dependable education loan facility provider?
Gujarat Mercantile Co-operative Bank Ltd is a popular name for providing flexible custom education loans at the best rates in town. We have a team of highly skilled and dependable banking professionals, getting you the most secure, efficient, and convenient financial services. We have special benefits for senior citizens, and also nomination facilities so that all the financial needs and requirements of our consumers are achieved.
Our Bank has a rich history and is a trusted trademark which we endure to influence and shape upon as we relocate ourselves.
