Rate of Interest on Loans.
|
On Emergancy Loan |
16.20 % P.A. |
|
On Ordinary Loan |
15.00 % P.A. |
|
On Secured Loan Against Property/ Vehicles |
13.20 % P.A. |
|
On Secured Loan Against Deposits |
01 % P.A. extra on deposit rate |
Loan To Members
- A member can apply for loanon the application form pescribed and available in the office of the society free of cost.
- it is the responsibility of the applicant member to produce sureties for loan applied for as detailed below:
|
Two Sureties |
Rs 75,000/- |
|
Three Sureties |
Rs 150,000/- |
|
Four Sureties |
Rs 200,000/- |
- All above Loansshal be granted as per the MCL of a member fixed by the managing committee which shall not exceed ten times the value of the applicant member's paid share.
- All the Sureties must be the member of the society and they should have subscribed at least such no. of share having value of 10% of the loan applied for.
- The Secured loan may also be granted by the society without any further surety or security of a member deosit with the society.
- the Secured loan against the security of the fixed asserts/Vehicles/Deposit out side the society may also be granted as per society committee.
