This scheme provides an immediate resort to the deprived people to accomplish their needs without resorting to the cut throat money lenders and other ‘blade’ banks. It is one of the aims on which the credit co-operatives evolved that is save the poor artisans and helpless people from the grip of money lenders. Santwanam is really a soothing word in the lips of poor people since they have to pay a meagre amount as interest and is has a hassle free simple procedure to acquire.

• Purpose
• 1. To meet education expenses of children and near relatives.
  2. To meet funeral expenses of near relatives.
  3. To meet immediate hospital expenses
  4. To meet unexpected expenses.
  5. To pay off the existing debts with the money lenders.
  6. To purchase necessary goods intended for daily life.
• Eligibility
• 1. Persons having A-class membership in the Bank, included in BPL list and their annual income shall not exceed Rs. 21,000/- for the persons residing in municipal area and Rs. 18,000/- for the persons residing in panchayath area.
  2. The members of board of directors and their close relatives are ineligible to avail the loan.
• Security
• 1. The Santwanam loans are un secured loans. The personal surety for repayment is the basis of these loans.
  2. Whereas, to ensure the repayment and to check the misutilization of this loan, the following documents has to be produced to the Bank.
• The original document of the property in the name of the applicant. If not available.
• The personal surety of another A-class member.
• Ration card copy.
• Certificate from panchayath member/ municipal counsellor.
• Procedure
• The application for a Santwanam has to be submitted along with documents or the personal surety, agreement of another A-class member.
• Branch manager, after making a detailed scrutiny, should report over the application and has to submit the application to the Head Office along with detailed appraisal report.
• After a further verification of requisites, the loan applications will be sanctioned depending upon the merits of the case.
• Charges and other costs
• There are no additional fee and charges for santwanam loans.
• Period
• Upto 24 months
• Eligible amount
• Maximum Rs. 5,000/-
• No share linking.
• Repayment
• Monthly instalment.
• Rate of interest
• Only 4%. To see the interest rate please visit the page of interest rates in this site.