Emergency loans :
Each member shall be entitled as under to avail a special short term loan of Rs. 20,000/- which may be titled as “Emergency Loan” for any unforeseen purposes on furnishing two sureties acceptable to the Society.
This Emergency Loan will be recovered in 20 equal monthly installments with interest, starting from the salary for the succeeding month of sanction.
This Emergency Loan will be available even though usual Credit loan / Long Term loan or Special Long Term Loan may be outstanding.
No member shall be entitled to renew the loan until completion of 12 months from the date of the last borrowing or after the loan is liquidated in regular monthly installments.