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PERSONAL LOAN TO STAFF (INCLUDING THE EMPLOYEES OF THE REGISTRAR COOPERATIVE SOCIETY, U.T. CHANDIGARH)

AMOUNT OF LOAN: RS. 4.00 LACS

Rate of Interest: 10 %P.A (Calculation of interest rests half yearly)

Terms and Conditions:

1. Loanee should be regular/permanent employee of the bank and Cooperative department, UT, Chandigarh having 5 year of service.

2. 40% carry home salary should be maintained.

3. Maximum period of loan is 7 years or recoverable at the time of retirement from his/her retirement dues. The installments shall be calculated keeping in view the period of remaining service of employee.

4. Recoverable from the salary and at the time of retirement from his/her retirement dues.

5. Two staff members guarantees.

6. Interest will be calculated on half yearly basis.

7. Should submit an undertaking that remaining dues, if any be recovered from the retirement dues.

8. Irrevocable letter countersigned by the employer/DDO.

9. The employee can avail this facility of Personal Loan by obtaining any number of loans on different times but total amount of all these loan should not exceed 4 lac.