Understanding a Personal Loan:

A personal loan is an amount of money member can borrow to use for a variety of purposes. For instance, use a personal loan to consolidate debt, pay for home renovations, or plan a dream wedding. The money member borrowwed must be repaid within the stipulated period with interest.

A personal loan allows the members to borrow money to pay for personal expenses and then repay those funds over time. Personal loans are a type of instalment debt that allows the member to obtain a lump sum of funding. For example, the member might use a personal loan to cover:

1. 1. Moving expenses
   2. Debt consolidation
   3. Medical bills
   4. Wedding expenses
   5. Home renovations or repairs
   6. Funeral costs
   7. Vacation costs
   8. Unexpected expenses
   9. This loan is given to regular and associate members only
   10. Loan is given against the personal guarantee of one or two.
   11. The monthly instalment has to be paid along with interest from the date borrowing.
   12. Loan limit maximum Rs. 50,000.00
   13. Rate of Interest 17% P.A.
   14. Processing Charges 2.00%
   15. Penal Interest 2.00%
   16. Interest rebate of 1.00% will be allowed for prompt repayment. (T. &.C. apply)
   17. Co Obligents:
   1. A.Member up to Rs. 20,000.
   2. B.Members for Rs. 21,000-00 to Rs. 50,000.
   3. C.Loan Will Be Dispersed Within 3 Working Days After Receipt of The Complete Documents
2. Documents Required
   1. A.3 Pass size photos of applicant and co obligents
   2. B.ID & addressproof, Adhar, Gas bill, Voter ID, DL, ETC.
   3. C. proof like salary certicate, payslip.
   4. D.Transacting bank pass sheet for 1 year

Deposits, rate of interest applicable to such Loans is 2 percent above the rate applicable to the respective deposit.If interest is not paid for 3 consecutive months, then interest will be compounded.