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Long Term Loan |
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Loan is
essential and need for today's situation. Today many
Banks provides various loan facilities to the
customers. But their aim is only to earn the profit.
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Our Society Provides our members a maximum loan of
Rs. 20,00,000/- at the lowest interest rate with less
documentation. No processing fees & No prepayment
charges which is equally more important. The repayment period 240 month installments by keeping EMI or
reducing system. The eligibility chart for the loan is
as follows. |
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Loan Amount
revised on 01/02/2025 |
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Rate
of Int.- 10% |
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Years of service
Completed & Salary |
Loan
Amount |
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Maximum Loan Eligibility including
medium term loan |
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Tenure |
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Upto
2 Years
& Salary above Rs. 15,000/- |
3,00,000/- |
3,50,000/- |
240 |
Over
2 to 5 Years
& Salary above Rs. 25,000/- |
4,00,000/- |
5,00,000/- |
240 |
Over
5 to 7 Years
& Salary Rs. 30,000/ |
7,00,000/- |
8,00,000/- |
240 |
Over
7 to 10 Years
& Salary Rs. 35,000/-to
Rs. 43,000/- and above |
10,00,000/- |
11,00,000/- |
240 |
Over 10 Years to 15 Years
& Salary Rs. 40,000/- |
13,00,000/- |
15,00,000/- |
240 |
Above
fifteen Salary above
Rs.50000/- |
18,00,000/- |
20,00,000/- |
240 |
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A member should maintained 10%
amount in Shares & MSF of sanction
Loan, of which 5% share should of
loan sanction amount, if not
difference amount will be deducted
towards Shares instead of M.S.F.
A/c. from monthly salary. |
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Remaining balance of existing loan
may be adjusted against sanctioned
fresh loan. |
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The above limits will operate so far
as the borrowing of individual
member are concerned, in addition to
these limits a member can offer as
surety in not more than two cases. |
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A member is entitled to borrow Long
Term Loan above Rs.2,50,000/- shall
be sanctioned to a member
provided documents such as for
Housing / Long Medical
Sickness/Higher Education of
Children/Daughter/
Son/Brother/Sister and himself
Marriage and Purchase of Vehicle
or House hold items. |
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Maximum Monthly Installments
Repayment of Loan shall be EMERGENCY
LOAN - (25 Installments), LONG TERM
& MEDIUM TERM LOAN upto 240
Installments. |
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As per Bye-laws No. F.1.8.Managing
Committee reserves the rights to
change Interest rates on Loan time
to time and sanction the loan
according to repaying capacity of
loaner. |
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