Long Term Loan Limit to an individual member is maximum upto Rs. 20,00,000/- with option for repayment of on monthly reducing basis.
The rate of interest is 9.50%.
The maximum no.of installment for the repayment of the long-term loan is 180 Nos. or retirement date of member whichever is earlier.
* TWO GUARANTOR are required for long term loan.
* Each member can stand surety for maximum 2 Borrowers.
Long Term Loan Cart
Salary Range | Loan Limit |
upto 15000 | 4,00,000.00/- |
15001 to 25000 | 6,00,000.00/- |
25001 to 35000 | 8,00,000.00/- |
35001 45000 | 10,00,000.00/- |
45001 55000 | 13,00,000.00/- |
55001 70000 | 16,00,000.00/- |
70000 Plus | 20,00,000.00/- |
Vasturup Loan Limit to an individual member is maximum upto Rs. 1,00,000/- with option for repayment of on monthly reducing basis.
The rate of interest is 9.50%.
The maximum no. of installment for the medium term loan is 60 Nos. or retirement date of members whichever is earlier.
Emergency Loan limit to an individual member is Rs. 50,000/- with the option of repayment of on monthly reducing basis.
The rate of interest is 9.50%.
The maximum no. of installment for short term loan is 10 Nos or retirement date of members whichever is earlier.
The loan against fixed deposit is also granted to the members upto 80% of FD deposit.
The rate of interest of such loan is 2% higher than FD interest rate.
*The members having loan against FD. are not eligible to take interest on this FD.
*On maturity of Such FD's against which the loan was sanctioned the loan outstanding along with the interest recoverable is adjusted against such FD maturity amount & the balance is refunded to the members.