Loans

Our Society provides 3 types of loans to its members.

Ordinary Loan

A new member of TATA STEEL, TSDPL & JCAPCPL are eligible for Ordinary Loan after deduction of one installment in Compulsory Deposit Account and on fully paid up Shares. After every six months from taking last Loan or 30 % of deduction from salary whichever is earlier member is eligible for extra Rs 20,000/ Loan subject to Shares fully paid. Secretary is empowred to sanction the Loan as per by Law and rules subject to the confirmation in next full committee meeting.

FOR STEEL GRADE TSDPL AND N.S.GRADE MEMBERS MAXIMUM LOAN AMOUNT : 2,10,000/- @ 6.25 % P.A
FOR JCAPCPL MEMBERS (Both Officers and Non Officers) MAXIMUM LOAN AMOUNT : 1,40,000/- @ 6.25 % P.A
Maximum Duration : 60(Months) Instalment including 10 exemptions (Two Exemption In A Year).

Emergency Loan

A new member of TATA STEEL, TSDPL & JCAPCPL are eligible for Emergency Loan after deduction of two installment in Compulsory Deposit Account and on fully paid up Shares.

FOR STEEL GRADE TSDPL AND N.S.GRADE MEMBERS MAXIMUM LOAN AMOUNT : 110,000/- @ 8.25 % P.A
FOR JCAPCPL MEMBERS (Both Officers and Non Officers) MAXIMUM LOAN AMOUNT : 80,000/- @ 8.25 % P.A
Maximum Duration : 36(Months) Instalment. (Fixed)

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Personal Loan

A new member of TATA STEEL, TSDPL & JCAPCPL are eligible for Personal Loan after deduction of two installment in Compulsory Deposit Account and on fully paid up Shares.The Shares alloted exclusively for taking Personal Loan will not be included for taking any other Loan. A member below five yers of permanent service, should furnish the Photocopy of his P.F. Deposit slip and will be sanctioned Personal Loan upto his own contribution in Companies Provident Fund Deposit. Provident Fund Deposit criteria is not applicable for members of N.S.Grade and JCAPCPL. Once advanced Personal Loan the members can avail the same after deduction of five installments or clearence of 50 % through cheque whichever is earlier.

FOR STEEL GRADE TSDPL AND N.S.GRADE MEMBERS MAXIMUM LOAN AMOUNT : 3,30,000/- @ 9.25 % P.A
FOR JCAPCPL MEMBERS (Both Officers and Non Officers) MAXIMUM LOAN AMOUNT: 2,10,000/- @ 9.25 % P.A
Maximum Duration : 65(Months) Instalment including 10 exemptions (Two Exemption In A Year).

Loan Against Fixed Deposit and Recurring Deposit

Loan Sanctioned 75% of own deposit and interest on Loan amount will be charged @ 0.50 % P.A. Higher than the payable interest. Repayment by cheque within Maturity period.