Purpose

Loan may be provided for any purpose including consumption/asset creation, Repair of House, purchase of land (for house) small business Angan Wori (worker/helper), Teacher(Primary\H.S), Govt employee except for any sort of business/trading or any short of unsocial/illegal purpose.

Eligibility:

  1. The  applicant  must  be  permanent  resident  of  U.N.Pur/Amta  Block  Area.
  2. The applicant must be a nominal member of  the Society before obtaining loan.
  3. The  applicant must be a permanent employee of  Govt/Semi-Govt./Local/Self  Govt /Govt.aided Institution/Angan Wari worker/Para-teacher.
  4. The applicant must have a minimum remaining service length of atleast three years.

Quantum Of Loan :

  1. Maximum as per financial Status.
  2. Minimum Rs. 5000/-

Repayment Of Loan :

  1. The  entire loan shall be repaid  by  a  minimum 12 EMI  and  maximum 120 EMI. The  Iast  EMI  of  loan in every case  shall end  well  before 12 months  of  the retirement of employee.
  2. The borrower  shall have  to  open  a Savings Bank account  at  the Society and  through  the  said account adjustment  will be  made  with  his/her  loan account  towards  repayment  of  the  loan by post  dated cheques.
  3. In case of  d ishonor  of  post  dated  cheques,  provisions  of   Section 138  of   the  NJ. Act or  other  sections  of  the Act  will  
  4. In case of default due to bouncing of post dated cheques or for any other reasons. a penalty will be charged as decided by the Society from time to time on the defaulted EMI amount which may realised through the Savings Bank Account of the borrower.
  5. Any expenses incurred due to issuing of notices pursuation for recovery or for any legal expenses incurred by the Society due to defailt by the borrower, shall be recovered from the borrower through his / her Savings Bank A/c. or through other prosesses.

Security :

  1. Service  security  will  be  ensured  by execution  of  an  agreement  under  Section  59  of  WBCS Act, 2006
  2. Guarantor is required considering the length of  service of the applicant and for Central Govt. Employee  provision for guanrantor must. Upto 1 lakh 1 guarantor is require, above 1 lakh to 15 lakh 2 guarantor are require.
  3. Spouse as a guarantor, in case of loan allowing deduction upto 75% provided both the spouses are earning
  4. Post  dated cheques duly filled in and signed  by the borrower  and  authorization  to the Branch Manager  to deduct from the salary.

Documents To Be Submitted During Application :-

  1. Duly filled in nominal membership application form, if not already a nominal member of the Society.
  2. Loan application in Society’s prescribed form (saleable) Pay statement as per Society prescribed format on official letter head in original duly signed and issued by the DDO/Employer along with attestation of the applicant. However,
  3. Proof of residence viz. copy of Voter identity Card, Passport, Driving Licence, recent Electricity bill, recent Land Line telephone bill AAdhaar Card etc.
  4. A declaration as per Society already has any such loan, the details thereof.
  5. ‘No objection’/’Non-defaulter’ certificate with details of loan outstanding from the concerned ECCS, if any and if there is no ECCS, a declaration is to be submitted by the applicant stating that there is no ECCS in this office.
  6. In case of High School Teachers who have completed only one year of service, certificate of confirmation of servive from the Secretary of the SchrtW and approval of DA. of schools.
  7. Where guatantor is required, declaration of guarantor in prescribed format and submit guarantors pay certificate.
  8. Any other documents as may required by the Society if necessary.

N.B.- The Management of the Society at any time has the right to relax or exempt or impose any condition as may think fit for the interest of the Society.