Loans




Our society's main motto is to provide financial help to the needy members at affordable interest rates and save them from the clutches of private financiers. At present there are 8 types of loans which can be availed by the members according to their needy duration of membership and repaying capacity. The types of loans are (i) Ordinary Loan (ii) Emergency Loan (iii)Consumer Loan (iv) Vehicle Loan & Housing Loan (v) Loans against Deposits, FD etc.

Members are eligible to apply for loans after 3 months of becoming member and can stand as surety to loanees (it may change from time to time).Maximum Credit Limit (MCL) of a member is Rs. 2 Lacs

Society may issue loan to its members to
own a roof over their heads, if not having
one at present and if they are able to make
the instalment payment promptly.

The President, Secretary and Treasurer of the Society have the power to grant emergency loans upto Rs. 30,000/- or 3/4 CD of the applicant whichever is less
Read More>> Read More>> Read More>>

Society may give loan for purchase of new or used vehicles upto Rs. 50,000/- or 80% of the value of the vehicle, whichever is less to those members who have completed 1 year of membership and whose payment habit is excellent against 2 sureties.

The Society may issue loans for purchasing of consumer items upto Rs. 50,000/- or 80% of the cost whichever is less to those members who have completed 1 year membership and whose payment habit
 
Read More>> Read More>>