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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.
450000/- or twenty times the total salary or 18 times of the share Capital
whichever is less. It is recoverable in 84 monthly installments at the
discretion of the Board. Within the maximum loan limit, the Board shall
sanction loan to a member according to the length of the individual member's
service and membership in the society. 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 should send their completed
applications 7 days in advance. |
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