|
|
|
|
|
|
LARSEN &
TOUBRO
GROUP
EMPLOYEES'
COOPERATIVE
THRIFT &
CREDIT
SOCIETY
LIMITED
REGD. NO. MSCS/CR-27/92
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits |
|
| Thrift Deposit |
|
| Thrift Deposit is a compulsory
savings and it is recovered from the monthly salary of a member. Presently Rs.
500/- is being recovered towards Thrift. Interest on thrift is calculated
annually and added in thrift deposit itself on 31st March from the
year 2006 – 2007.
|
|
| Fixed Deposit & Cumulative Deposit
|
|
| The society accepts fixed Deposit
from member and allows better rate than the bank interest Rate. The minimum
deposit is Rs. 10,000/-. Monthly interest is also given depending upon the
amount of Deposit. In cumulative deposit the interest yield will be more, as
given in the interest table.
|
|
| Recurring Deposit
|
|
| Recurring deposit is recovered
through salary for a period of 12 months & 24 months. Minimum Rs. 100/- and
multiple thereof. On maturity cheque is sent to the member directly.
|
|
| Death Relief Scheme Deposit
|
|
| The Society has implemented a
death relief Scheme in association with the Thrift Co-operative Federation on
payment of a one time refundable deposit collected from the member. Under the
Scheme the nominee of a member gets Rs. 20,000/- as Relief coverage for the
deposit of Rs. 500/- and Rs. 1,00,000/- if the deposit is Rs. 2,500/-.
|
|
|
Member Group Insurance Scheme – LIC
|
|
| All members are covered under LIC
group insurance scheme. Under this scheme, every year annual premium of around
Rs. 400/- is being collected from the member and paid to LIC for relief
coverage of Rs. 2 Lakhs. No medical proof is needed.
|
|
| Member Benevolant Fund
|
|
| It is created out of Net Profit
of the society in order to give certain relief to the member in the event of
death or loss of employment due to disability ranging from Rs. 5000/- to Rs.
20000/-.
|
|
|
|
|
|
|