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LARSEN &
TOUBRO
GROUP
EMPLOYEES'
COOPERATIVE
THRIFT &
CREDIT
SOCIETY
LIMITED
REGD. NO. MSCS/CR-27/92
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| Loan |
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| Ordinary Loan or Surety Loan |
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| The maximum amount of loan is Rs.
600000/- or twenty five times of the total salary or 20 times of the share Capital
whichever is less. It is recoverable in 96 monthly installments at the
discretion of the Board. Within the maximum loan limit, the Board shall frame Guidelines
for sanctioning of loan to a member according to the length of the individual member's
service,membership in the society, carryhome salary etc. It is the responsibility of the member
to furnish eligible sureties for availing the loan. The ordinary loans are
disbursed on 1st and 16th of every month subject to the
approval of the board, for which the members have to send their completed
applications 7 days in advance. |
| On
disbursement of loan the Society shall make the
following deductions.
Previous Loan Outstanding.
Additional Shares upto 5% of the Loan Amount.
Processing Fees of Rs.50
Additional DRS Deposit upto a maximum of Rs.2500
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| The Members can Login to view the
Loan Ledger. The Loan payment can be made by NEFT or by Cheque.
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