Education Co-operative Society

Membership period Amount Installments

06 months to 02 years Rs. 500,000/- 60

02 years up to 05 years Rs. 800,000/- 84

More than 05 years Rs.1,000,000/- 84

Interest rate - 6 %

Installments - 84

Terms -

The loan applicant and guarantors must be active members of the society who have completed 6 months of membership and are paying dues.
The loan must be repaid on or before the borrower reaches the age of 60.
The guarantors must not exceed the age of 58 before the borrower agrees to repay the loan.
A guarantor can only guarantee 03 loans.

10% of the loan value must be deposited into the loan applicant's equity account.
The outstanding share capital can be paid in cash.
You can transfer the money available in your special and fixed deposit accounts to your stock account.
The guarantors have been released from paying the shares.