(I) Ordinary / Personal Loan:-
1. The loan amount up to maximum of Rs.2,00,000/- or ten times of share money whichever is less.
2. The rate of interest on loan @ 18% per annum.
3. Rebate of 6% per annum on loan interest on regular monthly instalment payment.
4. Non-payment of instalment on due date, penal interest @ 3% P.A. per monthly instalment is charged.
5. The loan period not more than 50 months.
6. One or more guarantors/sureties required for Loan.
7. Eligible for loan only after one month of membership.
8. Share capital must be 10 % of loan.
Documents required for Loan:-
1. Loan application form duly filled & signed.
2. Share money 10% of loan amount.
3. Post dated chques
4. Pan card, Adhaar card, Office I.Card.
5. Latest Income Proof:- Payslip/ salary certificate/I.T.R/Form16.
6. Latest Bank Statement.
7. Any Other document, if required by the Managing Committee.
(II) Loan against Deposit :-
1. Loan amount upto maximum 90% of Deposit amount.
2. Rate of interest on loan against deposit 1% extra of deposit interest.
Documents required for Loan against deposit:-
1. Loan application dully filled & signed
2. Original Deposit Certificate.
