Long Term Loans
Long Term Loan Details.
- Rate of Interest: 10%
- Loan tenure: 5 years
- Maximum amount sanctioned: Rs. 4,00,000/-(Rs. Four lakh only)
- He or She is eligible to get the loan of 50% of the gross salary.
- He or She should be confirmed employee.
- Dividend will be paid every year at the time of Deepavali depend up on the profit earned during the financial year.
Short Term Loans
Short Term Loan Details.
- Rate of Interest: 12%
- Loan tenure: 3 years
- Maximum amount sanctioned: Rs. 2,00,000/-(Rs. Two lakh only)
- He or She is eligible to get the loan of 50% of the gross salary.
- He or She should be confirmed employee.
- Dividend will be paid every year at the time of Deepavali depend up on the profit earned during the financial year.
Emergency Loans
Emergency Loan Details:
- Rate of Interest: 15%
- Loan tenure: 1 years
- Maximum amount sanctioned: Rs. 1,00,000/-(Rs. One lakh only)
- He or She is eligible to get the loan of 50% of the gross salary.
- He or She should be confirmed employee.
- Dividend will be paid every year at the time of Deepavali depend up on the profit earned during the financial year.
Share Update Details
- Monthly Share can be increased/deecreased by members of the society
- The minimum amount of Rs.300 and Maximum Amount of Rs.3000 is the limit for Non-Teaching Staff member
- The minimum amount of Rs.500 and Maximum Amount of Rs.5000 is the limit for Teaching Staff member
- The Share can be varied only twice in a year. (April, October)
- The variation in the share is subject to admin approval.
EMI Update Details
- Monthly EMI can be increased/deecreased by members of the society
- The EMI can be increased/decreased anytime during the year but the decrease in the EMI cannot go beond base EMI(initial EMI)
- The variation in the EMI is subject to admin approval.
Membership Closure Details
- A member can close the membership account with the approval of admin.
- The member should not posses any active loans.
- The member cannot be a guaraontor for any Active loans.