1) The loan amount will be up to maximum of Rs.1,50,000.
2) The documents mentioned –
A) Two cheque of bank account.
B) Bank statement of last six months
C) Pay slips of last six months of the government and private sector employee ,
D) Identification proof and electricity bill of current month.
3) The installment will be monthly payable and non-payment of installment on due date will attract 3% penalty per monthly installment.
4) Non-payment of full loan by due date will attract Rs. 200 /= penalty per month.
5) The rate of interest on loan will be @ 15% per annum.
6) The loan period will be for maximum of 36 months.
Note:- BEFORE APPLING FOR ANY KIND OF LOAN MEMBER SHOULD FULFILL THE FOLLOWING CONDITIONS.
1) Share Money sholud be 10% of the loan amount.
2) Compulsory Deposit should be 10% of the loan amount.