Services
Services
WHO CAN BE A MEMBER OF THE SOCIETY
The members should be a permanently employed in the Ministry of New and Renewable Energy.
No person shall be a member unless: –
(a) He will be permanently employed in the Ministry of New and Renewable Energy.
(b) His written application for membership has been approved by the managing committee.
(c) He is competent to contract under section 11 of the Indian Contract, 1972, Rule 2007.
(d) He is not a member of any other primary society dispensing credit with limited or unlimited liability.
Loan Scheme
(I) Ordinary / General Loan:-
1. The loan amount up to maximum of Rs. 1,00,000/- or ten times of share money whichever is less.
2. The rate of interest on loan @ 10 % per annum.
3. The installment monthly payable and non-payment of installment on due date penal interest @ 3% P.A. per monthly installment.
4. The loan period not more than 50 months.
5. Two guarantors/sureties and two witness are required for Loan.
6. Eligible for loan only after one month of membership.
7. Share capital must be 10 % of loan.
(II) Emergency Loan:-
The loan amount up to maximum of Rs. 20,000/- within the limit of Rs. 1,00,000/-.
Documents required for Loan
1. Loan application form duly filled & signed.
2. Share money 10% of loan amount.
3. Post dated cheques
4. Pan card, Adhaar card, Office I.Card.
5. Latest Income Proof:- Payslip/ salary certificate/I.T.R/Form16.
6. Latest Bank Statement.
7. Any Other document, if required by the Managing Committee.