Membership of the Society shall be open to all permanent employees including permanent part time employees on scale wage employed with the State Bank of Hyderabad, subject to their being approved as members in the manner herein after described.

Any confirmed employee with State Bank of Hyderabad who genuinely need the services provided by the society and whose interest does not conflict with the interest of the society shall be eligible for membership.

Associate Members : Being members who have retired from service after completing the age of Superannuation i.e., 60 years of age, with a minimum of 15 years membership OR retiring on voluntary grounds after completing a minimum of 25 years of membership in the Society who are beneficiaries under the Superannuation Scheme and Medical Assistance Reimbursement Scheme of the Society, subject to their being approved as members in the manner herein after described.


A member on admission shall be required to pay an entrance fee of Rs.10/- only and subscribe regularly Rs.50/- p.m. towards share capital to the extent of a minimum of Rs.4,500/-.

The maximum share holding shall be restricted as under:-

Sub-staff: 90 shares / Clerical staff 110 shares / Officers 130 shares. The value of each share shall be Rs. 150/- subject to the condition that no member shall hold more than 1/5th share capital of the Society or Rs. 19,500/- whichever is less.

The application for membership shall be made in the prescribed form and will accompany the remittance as under:

i) Sub-staff: Admission Fee Rs. 10.00
MBF / MARF (450 + 60)Rs. 510.00
Share Capital Rs. 50.00
Rs.: 570.00

ii) Sub-staff: Admission Fee Rs. 10.00
MBF / MARF (450 + 60)Rs. 710.00
Share Capital Rs. 50.00
Rs.: 770.00

However, after fulfilling the conditions laid down in Bye-law every member should contribute Rs.220/-p.m. and such contributions shall be kept in a separate deposit account, in each member’s account known as “Members Retirement Fund “ until he/her ceases to be a member interest shall be allowed on such deposits @ 7% p.a. which shall be calculated and credited to a separate account known as “SUPERANNUATION FUND ACCOUNT” at half yearly rests.


The Managing Committee is empowered to consider readmission of the member on payment of entrance fee of Rs.15/- and refund of the entire Share Capital / Mutual Benefit Fund / Members Retirement Fund withdrawn by him/her together with the arrears of instalments along with interest till the date of readmission in full or in instalments as decided by the Managing Committee.


Any member of the society may withdraw from membership of the society only after Two years by giving at least a three months notice and duly approved by the Managing Committee of the society. The approval shall not be given when such a member is indebted to the Society.

A member who withdraws and resigns from the membership will not allowed to become a member again for a period of one year from the date of his/her resignation unless, he/she repays the amount withdrawn from the Society along with interest.

Members ceasing their connection with the Society before the close of the first half of the working year will not be entitled to any interest / dividend for that year


Every member of the Society may nominate any person on his/her behalf to receive in the event of his/her death all the monies due to him/her from the Society. Provided the nomination is registered in the books of the Society and nomination form to be signed in the presence of two witnesses.