Loan Modules

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:

1-image

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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