Besides the specific conditions mentioned against each type of loans, the following general conditions shall also be considered while recommending loans to members of staff.
1. Staff Loans will be considered only to confirmed employees in the regular service of the Society who are share holders of the Society (Employees on contract basis are not eligible)
2. Minimum period of service : Demand Loan- All confirmed employees
Purchase / Personal Loans : 3 years confirmed service
Housing / Vehicle Loans : 5 years confirmed service
3. Loan will be considered to performing employees who are regular in attendance and consistent in discharging their duties and who have reasonable take home salary
4. Total deduction / liability towards loan & GDCS shall not exceed 30 % for DL, 40 % for PL & 50 % for HL/VL
5. With the introduction of Purchase / Personal loan upto Rs. 1 L, creating liability under GDCS will not be entertained hereafter unless future liability is fully covered by liquid security.
6. If otherwise eligible, an employee can avail all three type of loans. Income of spouse will be considered for Housing & Vehicle Loans only.
7. All type of loans / liabilities including Gold Loans, DLO, GDCS or Others shall be reported in the staff loan application.