Emergency Loan

Purpose :

Emergency Loan can be availed by member to meet the immediate financial requirements

Rate of Interest :

10% p.a.

Maximum Loan Limit :

Maximum Loan Limit is Rs. 4,00,000/-. Member can avail the loan upto Rs. 4,00,000/- or as per balance of Compulsory Deposit whichever is low.

Repayment Term :

• Maximum Repayment term is of 60 months.
• Member can avail the said loan facility number of times as and when member require in a financial year from 1st April to 31st March.
• Emergency Loan can be renewed if continueous 5 loan installments recovered.
• If borrower has fully paid loan balance then he/she can avail the said loan on the same day or next working day as per loan rule.
• Applicant must get ¼ of gross salary in their hand after deduction of loan installment with interest thereon.

Documents :

• KYC’s Official Valid Document’s of borrower
• Latest payslip (will accept previous month payslip till the 10th date of current month)