1) BUSINESS LOAN
| Type of Facility | BUSINESS LOAN | SLAB | PERIOD (DAYS) |
|---|---|---|---|
| Eligibility | A Class members | ||
| Maximum amount | Rs 4,00,000/- | Upto 50000 | 200 |
| Rate of interest | 15.00% p.a. | Above 50000 - 100000 | 365 |
| Maximum repayment period | 450 days (max) | Above 100000 - 150000 | 365 |
| Surety | 2 - A Class members | Above 300000 - 400000 | 500 |
| Purpose | For Business Development etc. |
Mode of Payment: 1) Daily / 2) Intrest due has to be cleared monthly.
Documents required:
1. Current year Balance Sheet with seal and signature of the firm and firm owner.
2. Current Stock Statement with seal and signature of the firm and firm owner.
3. RTC in loan holder's name or Surety's name for above RS 300000/-
4. Business license photo copy.
Loan process
First time:
1. Application form to be collected from the society by paying RS 20/+ 18% GST
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the BOD during monthly meeting.
5. 1 Passport size photo
Renewal for same amount:
1. Application form to be collected from the society by paying RS 20/- + 18% GST
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the President
5. 1 Passport size photo
Renewal for more amount:
1. Application form to be collected from the society by paying RS 20/-+ 18% GST
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the BOD
5. 1 Passport size photo
Note:
Two check leaves along with passbook front page photocopy to be brought at the time of taking loan.
2) SURETY LOAN
| Type of Facility | SURETY LOAN | SLAB | PERIOD (DAYS) |
|---|---|---|---|
| Eligibility | A Class members | ||
| Maximum amount | Rs 2,00,000/- | Upto 50000 | 365 |
| Rate of interest | 15.00% p.a. | Above 50000 - 100000 | 365 |
| Maximum repayment period | 400 days (max) | Above 100000 - 150000 | 365 |
| Surety | 2 - A Class members | Above 150000 - 200000 | 400 |
| Purpose | For Marriage, Hospitalisation, House repair, Education and other Consumption |
Mode of Payment: 1) Daily / 2) Intrest due has to be cleared monthly.
Documents required:
1. RTC in loan holder's name or Surety's name for above RS 2,00,000/-
Loan process
First time:
1. Application form to be collected from the society by paying RS 20/- + 18% GST
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the BOD during monthly meeting
5. 1 Passport size photo
Renewal for same amount:
1. Application form to be collected from the society by paying RS 20/- + 18% GST
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the President
5. 1 Passport size photo
Renewal for more amount:
1. Application form to be collected from the society by paying RS 20/- + 18% GST
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the BOD during monthly meeting
5. 1 Passport size photo
Note:
Two check leaves along with passbook front page photocopy to be brought at the time of taking loan.
3) PIGMI OVERDRAFT
| Type of Facility | PIGMI OVERDRAFT |
|---|---|
| Eligibility | A & C Class members |
| Max amount for A Class members | Rs 1,00,000/- |
| Max amount for C Class members | Rs 10,000/- |
| Rate of interest | 15.00% p.a. |
| Maximum repayment period | 450 days (max) |
| Surety for A Class member | 2 - A Class members |
| Surety for C Class member | 2 - A Class members |
| Purpose | For Business Development etc. |
| Mode of repayment | Daily |
Note: Ratio on which loan is issued 1:5
A Class
1. For a Pigmi deposit of Rs 10000/- eligibility for loan is Rs 50000/-
2. For a Pigmi deposit of Rs 20000/- eligibility for loan is Rs 100000/-
C Class
1. For a Pigmi deposit of Rs 2000/- eligibility for loan is Rs 10000/-
Loan process
First time:
1. Application form to be collected from the society
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the BOD during monthly meeting
5. 1 Passport size photo
Renewal for same amount:
1. Application form to be collected from the society
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the President
5. 1 Passport size photo
Renewal for more amount:
1. Application form to be collected from the society
2. Filled application form with 2 A class surety and all documents mentioned above to be submitted
3. Submitted loan form will be checked and endosed by the staff
4. Loan paper will be scrutinised and sanctioned by the BOD during monthly meeting
5. 1 Passport size photo
Note:
Two check leaves along with passbook front page photocopy to be brought at the time of taking loan.
4) JEWEL LOAN
| Type of Facility | JEWEL LOAN |
|---|---|
| A) Maximum repayment period | 365 days (max) |
| Current society Gold Rate per gram | Rs 2100/- |
| Type of Facility | JEWEL LOAN - SHORT TERM |
|---|---|
| B) Maximum repayment period | 180 days (max) |
| Current society Gold Rate per gram | Rs 2250/- |
| Eligibility | A & C Class members |
| Maximum amount | Rs 5,00,000/- |
| Rate of interest - A Class member | 12.00% p.a. |
| Rate of interest - C Class member | 13.00% p.a. |
| Surety | Gold Ornaments |
| Purpose | For Gold purchase, Marriage etc. |
5) BUSINESS OVERDRAFT
| Type of Facility | BUSINESS OVERDRAFT |
|---|---|
| Eligibility | A Class members |
| Maximum amount | upto Rs 15,00,000/-for residential property and upto Rs 30,00,000/- for commercial property |
| Loan Period | 3 Years |
| Rate of interest | 15.00% p.a. |
| Mode of payment | 1) Daily / 2) Intrest due has to be cleared monthly. |
| Surety | 2 - A Class members |
| Security | Simple mortgage of the property by diposition of title deeds |
| Purpose | To be utilized in day to day business activity as working capital and other daily business requirements |
Documents required:
Loan process First time and renewal after due date: 1. Application form and list of documents to be collected from the society by paying Rs 50/- + 18% GST 2. Filled application form with 2 A class surety and all scanned copy of the documents mentioned above to be submitted 3. Submitted loan form will be checked and endosed by the staff 4. Loan paper will be scrutinised and sanctioned by the BOD during monthly meeting 5. Documents will be sent for Legal opinion to authorised Legal Advisor 6. Once legal opinion is recived documents will be sent for valuation to authorised Engineer 7. Once legal opinion and property valuation is recived all original property documents should be submited to the socity 8. Property inspection will conducted by the society authorised person 9. Property photo will be taken along with property owner & socity authorised person 8. Registration process should be done at the sub-registred office by the loan party 5. 1 Passport size photo
6) VEHICLE LOAN
| Type of Facility | VEHICLE LOAN | SLAB | PERIOD (in months) |
|---|---|---|---|
| Eligibility | A Class members | Upto 200000 | 24 |
| Rate of interest | 13.00% p.a. | Above 200000 - 500000 | 36 |
| Surety | 2 - A Class members | Above 500000 - 700000 | 48 |
| Purpose | For Domestic, Commercial etc. | Above 700000 - 1000000 | 60 |
| Mode of repayment | Monthly EMI | Above 1000000 - 1500000 | 72 |
Note: 1. Loan amount - 20% of down payment to be done by loan borrower, 80% of the on road amount will be issued by the society 2. DD will be given in favour of the showroom 3. All vehicle documents and 1 vehicle key to be submitted to the society 4. Stamp paper of Rs 100/- to be taken in favour of loan borrower (First party) and society (Second party) 5. Insurence copy of the vechicle should be provided to the socity every year after renewal. Loan process 1. Application form to be collected from the society by paying Rs 20/- + 18% GST 2. Filled application form with 2 A class surety and quotation of the vehicle from the showroom to be submitted 3. Submitted loan form will be checked and endosed by the staff 4. Loan paper will be scrutinised and sanctioned by the BOD during monthly meeting
7) LOANS ON DEPOSIT
| Type of Facility | DEPOSIT LOAN |
|---|---|
| Eligibility | A or C Class members with deposit |
| Maximum amount | 80% of the deposit amount |
| Rate of interest | 2% higher than the rate of interest paid on the deposit |
| Maximum repayment period | On the date of maturity |
| Surety | Your deposit |
| Purpose | Any purpose etc. |
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