LOAN

• Emergency Loan upto Rs.10,000/- on 2 Surety, for emergent/casual need of the member.
• Ordinary Loan upto Rs.2,00,000/- on 3-5 Sureties for regular and personal use of member.
• Loan against Deposit with the Society @ 2.00% p.a. extra on the rate of interest on member’s deposit.

INTEREST ON LOAN

• Interest on all loans shall be charged on monthly basis, on reducing balance method.
• Interest shall be charged on balance of outstanding principal loan amount as on the last day of the month.
• If, failed to pay interest or any installment or the principal loan on or before the stipulated date, the whole loan with interest, shall become immediately due and payable. In case of default, shall have to pay penal interest @3% p.a. on all overdue Balance from the date of default.

Rate of Interest on Loan:

• On ordinary Loan   :        15% p.a.
• Emergency Loan    :        18% p.a.
• On Secured Loan against deposits :02% p.a. extra of deposit rate.