Loan Facilities
|
| Currently the organization has put in place following loan facilities. |
| Type of Loan: |
Annual Interest |
Management Rates |
| Social Loan |
13% |
1% |
| Commercial Loan |
13.5% |
1% |
| Hire Purchase Loan |
14% |
1% |
| Housing Loan |
14% |
1% |
| Educational Loan |
12.5% |
1% |
| Loan on fixed Invoice collateral additional 3% |
General Provision to Issue Loan
- Loan amount up to Rs 100,000 can be issued for a year on collective collateral of at least two share members under the heading of social loan
- Hire purchase loan can be issued as designated by the governing committee of the organization after the transfer of ownership of the vehicle to the organization
- Under the category of ‘other heading’, the governing committee of the organization can issue loan up to Rs 1.5 million to the member competing all requirements stipulated on condition s/he legally puts home and land as collateral in the name of the loan issuing organization
Shareholder Welfare Scheme:
Following facilities have been managed for members under the scheme.
- Provide funeral expenses of Rs 5,000 in case the share member dies
- Provide assistance of Rs 10,000 on condition the share member needs to undergo intensive treatment due to very severe disease
