FAQ
In case of unsecured loan it is 5% if the loan amt. sanctioned and in case of secured loan it is 2.5% (in terms of Maharashtra State Co-operative Act
Yes Nomination facility is available to the shareholders.
Yes, as per recent RBI guidlines.
Yes, share transfers can be allowed on applications from the shareholder subject to Boards approval.
Yes, on the completion of 5 years from the date of purchase. In case of loans share capital can be refunded on completion of 3 years from the liquidation of loan or 5 years from date of acquisition of loan whichever is later.
The share holder needs to give an application to the bank stating his membership number and the changed address.
The nomination facility is available on all deposit A/c’s. Nomination can be done either at the time of A/c opening itself or at anytime during the currency of the deposit A/c by applying in prescribed format.
Nomination can be made in favor of only one person.
Yes and his/her date of birth and name of the guardian to be recorded.
Yes at the discretion of the depositor.
Upto Rs.1 lakh. For this purpose all deposits in the bank in same capacity and same right are taken together.
Two surities of reasonable networth are required.
Flexible term, user friendly interest payment mode, Cumulation of interest if required.
The tenure of Fixed deposit A/c ranges from minimum 46 days to maximum 84 months.
Interest Rate chart.
Interest is paid on Monthly, Quarterly, Half yearly and annual basis
Yes, TDS is available to a depositor who is the shareholder of the bank.
Yes, for deposit above 12 MONTHS upto 84 months.
Yes, maximum loan allowable is 90% of principle deposit (+) accumulated interest if any.
2) Loan against monthly Interest Deposit Scheme, 75% of principal only.
3) Loan against Quarterely Interest Deposit Scheme, 75% of principal only.
Yes, if total interest paid on term deposit exceeds Rs. 10,000/- at following rate:
10 % if PAN number is submitted 20% if PAN number is not submitted 0% if Form no 15 H / 15 G is submitted .
Form no 15 H / 15 G is to be submitted every financial year in April month.
No TDS is deducted on interest paid on Savings Acccount.