Deposits & Funds

1. Thrift Fund :


{a}It shall be compulsory for every member of Society to subscribe this fund at the rate of Rs.1000/- (Rupees One thousand) per month which may be changed time to time as per the decision of the General Meeting, until the member ceases to be a member and that monthly subscription shall be placed at the credit of the member in the Fund.


{b}The Society shall allow an interest on the amount of credit at the rate of 5% (Five percent) w.e.f. 01.10.2023.


{c}The money at credit of the member of the Society or heirs as the case may be, after setting off its dues against his liability in the Society, if any, at the time of cessation of membership.


2. Guarantee Fund :


{a}The Society may maintain a Guarantee Fund calculated @ 2% (Two percent) on the amount of loan sanctioned and it shall be opened in the name of every borrower and the Society shall allow an interest on the guarantee fund as decided time to time in the General Meeting and such fund shall be refundable in the event of retirement, death or loss of service, cessation of membership either in cash or by adjustment against his subsisting liability in the Society.


{b}Society shall allow interest on the amount at credit at a rate of 5% (Five percent) w.e.f. 01.10.2023.


3. Share :


{a}Maximum share amount will be limited to Rs 48,000/- only.


{b}Society shall give Dividend on the amount at credit at a rate that to be fixed at the General Meeting.