Loans ›› Short Term Loan

Short Term Loan

Each member upon enrollment shall be entitled to avail Credit Loan to the extent of an amount equal to ten months basic pay or Rs. 1,25,000/- whichever is less, subject to holding of minimum of 30 shares of Rs. 150/- each. However on completion of one year of membership each member shall be entitled to avail credit loan of upto a maximum of Rs. 2,00,000/- lakhs, repayable in 96 regular monthly installments on furnishing one acceptable surety who is a member of the Society. The time gap between the sanction of one Credit loan and the other shall be 15 months.