Jr+Engineers+%28Telecom%29+Co-operative+Credit+Soc
Presently we offer four types of loan:
| Type of Loan | Maximum Loan Amount |
Maximun No of installments (Months) |
Locking period | Eligibility | Number of Surities |
| Emergency/Short-term Loan | Rs. 1,05,000/- | 21 ( Twenty One) Monthly installments (wef 01.04.25) | 3 Months | Minimum 3 (Three) months membership is required | Two |
| Mid-term/Intermediate Loan | Rs. 2,10,000/- | 30 (Thirty) Monthly installments | 6 months | Minimum 6 (Six) months membership is required | Three |
| Long-term Loan | Rs.3,60,000/- |
60 (Sixty) Monthly installments
|
1 year | Minimum 1 year 6 months membership is required | Three |
| Special Long-term Loan | Rs. 6,00,000/- | 60 (Sixty) Monthly installments | 1 year | Minimum 3 (Three) years membership is required | Three |
Other general conditions:
| Interest on loan | 6.0 % ( six Percent) Annualy (wef 01.04.25)., This change will be applicable to existing as well as new loans also. |
| Guarantee Fund & Share | 2% (Two percent) Guarantee Fund (Except emergency loan) and 10% (Ten percent) or proportionate Share ( Maximum Share amount is limited to Rs. 48000/-) will be deducted at the time of disbursement of loan |
| Interst on Deposits |
the rate of interest on deposits (Thrift fund, Guarantee fund) will be 4%. Both will be effective w.e.f. 01.4.2025. This change will be applicable to existing as well as new loans also. |
| Address and service of Surities |
1. Atleast One surity should have permanent address within the state of West Bengal only. 2.Surities are to be in Service till the loan completion of Loanee.
|
