Loans
Our Society provides 4 types of loans to its members.
Revised Loan Slabs effective from 23.01.2023 (For all Members)
1. Emergency Loan Rs.60,000/- (sixty thousand only) for all members (@7.00% p.a.) payable in maximum 30 months. Minimum installment Rs.2000/- p.m. Maximum Monthly Interest:-Rs. 357/-. Members will be eligible for loan after 3 months of membership.
2. Special Loan Rs.60,000/- (Sixty thousand only) for all members (@6.50% p.a.) payable in maximum 30 months. Minimum installment Rs.2000/- p.m. Maximum Monthly Interest:-Rs. 331/-. Members will be eligible for loan after 3 months of membership.
3. Members will be eligible for Utility loan after 3 months of membership. Only Rs. 12000/- will be paid against Ordinary loan after one year of membership.Maximum Ordinary Loan can be availed after one and half year of membership.
4. FOR ALL MEMBERS :- (Share value Rs.6,000 to 8,000 @ Rs.20 each share) Full value of Share must be paid up before applying for loan. Minimum 20% of total loan amount availed by a member must be there in his compulsory deposit account.
5. Two Surity signatures are necessary for Emergency and Special Loan each for new members whose compulsory deposit balance is less than Rs,1,20,000/-
| Basic Slab | Ord. Loan @6.25% | Min. Inst. | Max Int | Util Loan @8.25% | Min Inst | Max Int1 | Total Incl Spl and Em Loan |
| 17000-25000 | 110,000.00 | 1,850.00 | 584.00 | 160,000.00 | 2,300.00 | 1,121.00 | 390,000.00 |
| 25001-45000 | 130,000.00 | 2,000.00 | 637.00 | 190,000.00 | 2,500.00 | 1,226.00 | 440,000.00 |
| 45001 and Above | 140,000.00 | 2,350.00 | 743.00 | 205,000.00 | 2,950.00 | 1,436.00 | 465,000.00 |
5. FOR ALL MEMBER THOSE COMPULSORY DEPOSIT AVOBE Rs :- 150,000/ - (share value Rs. 5000 to 5500 @ Rs. 20 each share)
| Basic Slab | Ord. Loan @6.25% | Min. Inst. | Max Int | Util Loan @8.25% | Min Inst | Max Int1 | Total Incl Spl and Em Loan |
| 25001-45000 | 140000.00 | 2350.00 | 743.00 | 205000.00 | 2950.00 | 1436.00 | 465000.00 |
| 45001 and Above | 160000.00 | 2700.00 | 849.00 | 235000.00 | 3400.00 | 1647.00 | 515000.00 |
For Officers :- (Share value Rs.4,500 to 5,500 @ Rs.20 each share)
| Basic Slab | Ord. Loan @6.25% | Min. Inst. | Max Int | Util Loan @8.25% | Min Inst | Max Int1 | Total Incl Spl and Em Loan |
| Upto 30000 | 145,000.00 | 2,450.00 | 770.00 | 200,000.00 | 2,900.00 | 1,401.00 | 465,000.00 |
| 30001 and Above | 180,000.00 | 3,000.00 | 955.00 | 265,000.00 | 3,800.00 | 1,857.00 | 565,000.00 |
Members who have compulsory deposit upto Rs.100,000/-
1. Emergency Loan Rs.60,000/- (sixty thousand only) for all members (@7.50% p.a.) payable in maximum 30 months. Minimum installment Rs.2000/- p.m.
2. Special Loan Rs.45,000/- (forty five thousand only) for all members (@6.50% p.a.) payable in maximum 30 months. Minimum installment Rs.1500/- p.m.
3. For N S Grade / T Grade / KPO Grade :- (Share value Rs.7,200 to 8,500 @ Rs.20 each share)
4. For Steel Grade :- (Share value Rs.9,000 to 10,500 @ Rs.20 each share)
| Basic Slab | Ord. Loan @6.25% | Min. Inst. | Max Int | Util Loan @8.25% | Min Inst | Max Int1 | Total Incl Spl and Em Loan |
| 30000-45000 | 130,000.00 | 2,200.00 | 690.00 | 190,000.00 | 2,800.00 | 1,372.00 | 425,000.00 |
| 45001-60000 | 145,000.00 | 2,500.00 | 770.00 | 200,000.00 | 2,900.00 | 1,444.00 | 450,000.00 |
| 60001 and Above | 160,000.00 | 2,700.00 | 849.00 | 235,000.00 | 3,400.00 | 1,697.00 | 500,000.00 |
5. For Officers :- (Share value Rs.8,500 to 10,500 @ Rs.20 each share)
| Basic Slab | Ord. Loan @6.25% | Min. Inst. | Max Int | Util Loan @8.25% | Min Inst | Max Int1 | Total Incl Spl and Em Loan |
| Upto 30000 | 145,000.00 | 2,450.00 | 770.00 | 200,000.00 | 2,900.00 | 1,401.00 | 450,000.00 |
| 30001 and Above | 180,000.00 | 3,000.00 | 955.00 | 265,000.00 | 3,800.00 | 1,857.00 | 550,000.00 |
Loan Type
|
Limit
|
R.O.I.
|
No Of Installments
|
Min Installment
|
Ordinary
|
1,70,000
|
6.25%
|
60
|
2850
|
Utility
|
2,50,000
|
8.25%
|
70
|
3600
|
Emergency
|
60,000
|
7.50%
|
30
|
2000
|
Special
|
45,000
|
6.50%
|
30
|
1500
|
Members who have compulsory deposit of Rs.150,000/- or more and having basic above Rs.60,000/- will be entitled to a loan of Maximum 5,50,000/-(Maximum shares(550)
Loan Type
|
Limit
|
R.O.I.
|
No Of Installments
|
Min Installment
|
Ordinary
|
1,80,000
|
6.25%
|
60
|
3000
|
Utility
|
2,65,000
|
8.25%
|
70
|
3800
|
Emergency
|
60,000
|
7.50%
|
30
|
2000
|
Special
|
45,000
|
6.50%
|
30
|
1500
|
Members who have compulsory deposit of Rs.200,000/- or more and having basic above Rs.60,000/- will be entitled to a loan of Maximum 6,15,000/-(Maximum shares(350)
Loan Type
|
Limit
|
R.O.I.
|
No Of Installments
|
Min Installment
|
Ordinary
|
2,00,000
|
6.25%
|
60
|
3350
|
Utility
|
2,95,000
|
8.25%
|
70
|
4250
|
Emergency
|
60,000
|
7.00%
|
30
|
2000
|
Special
|
60,000
|
6.50%
|
30
|
2000
|
Members who have compulsory deposit of Rs.250,000/- or more and having basic above Rs.60,000/- will be entitled to a loan of Maximum 6,65,000/-(Maximum shares(350)
Loan Type
|
Limit
|
R.O.I.
|
No Of Installments
|
Min Installment
|
Ordinary
|
2,10,000
|
6.25%
|
60
|
3500
|
Utility
|
3,35,000
|
8.25%
|
70
|
4800
|
Emergency
|
60,000
|
7.00%
|
30
|
2000
|
Special
|
60,000
|
6.50%
|
30
|
2000
|
Members who have compulsory deposit of Rs.300,000/- or more and having basic above Rs.60,000/- will be entitled to a loan of Maximum 7,60,000/-(Maximum shares(400)
Loan Type
|
Limit
|
R.O.I.
|
No Of Installments
|
Min Installment
|
Ordinary
|
2,50,000
|
6.25%
|
60
|
4200
|
Utility
|
3,90,000
|
8.25%
|
70
|
5600
|
Emergency
|
60,000
|
7.00%
|
30
|
2000
|
Special
|
60,000
|
6.50%
|
30
|
2000
|
Members who have compulsory deposit of Rs.3,50,000/- or more and having basic above Rs.60,000/- will be entitled to a loan of Maximum 8,00,000/-(Maximum shares(400)
Loan Type
|
Limit
|
R.O.I.
|
No Of Installments
|
Min Installment
|
Ordinary
|
2,65,000
|
6.25%
|
60
|
4450
|
Utility
|
4,15,000
|
8.25%
|
70
|
5950
|
Emergency
|
60,000
|
7.00%
|
30
|
2000
|
Special
|
60,000
|
6.50%
|
30
|
2000
|
Members who have compulsory deposit of Rs.4,00,000/- or more and having basic above Rs.60,000/- will be entitled to a loan of Maximum 8,50,000/-(Maximum shares(400)
Loan Type
|
Limit
|
R.O.I.
|
No Of Installments
|
Min Installment
|
Ordinary
|
2,90,000
|
6.25%
|
60
|
4850
|
Utility
|
4,40,000
|
8.25%
|
70
|
6300
|
Emergency
|
60,000
|
7.00%
|
30
|
2000
|
Special
|
60,000
|
6.50%
|
30
|
2000
|
