| Long Term Loan | |
| Loan Amount | Rs. 10/- Lakhs Maximum |
| Re-payment Period | 120 EMI/ Installment |
| Interest Rate | 10.5O% P.A. |
| Short Term Loan/Emergency Loan | |
| Loan Amount | Rs. 40,000 /- Maximum |
| Re-payment Period | 36 EMI/ Installment |
| Interest Rate | 10.50% P.A. |
Loan Eligibility:
- Members should have completed One year of service in Goa Dairy OR should have completed one year membership in society.
- Long term loan may be granted to any eligible member 30 times of his gross salary or Rs 1000000.00( Rupees Ten Lakh Only) whichever is less by the Board.
- The loan shall be granted on personal security with two sureties who are members of the society and having more than 01 year of regular continuous service in the establishment.
-
Repaying capacity shall be considered by taking into account net salary though the Bye Law of the society provides loan facility on the basis of gross salary.
Explanation: Repaying capacity of loanee be considered as an amount derived after deducting at least 1/3 of the gross salary from the net salary receivable by the loanee member. - At no point of time home take salary contribution be less than 1/3 of total emolument/gross salary.
Documents for Long Term Loan :
- Duly filled Application form of loan.
- Applicant's latest salary slip of previous two months with signature
- Latest salary slip of two sureties with signature (member can be surety to maximum two loanee member)
- Two signed cheques of applicant's salary a/c
- Member should have saving bank account in Goa State Co-operative Bank Ltd.
- Photocopies of Aadhaar card & PAN card
Documents for Short Term Loan:
- Duly filled application form of loan.
- Applicant's latest salary slip of previous month with signature.
1] The Society has increasing trend of Long Term Loan from Rs. 20000/- to 1000000/-.
LONG TERM LOAN AMENDEMENT
| Sr.No. | Previous Loan Amt | Amended Loan Amt | Date of Amendment |
|---|---|---|---|
| 1 | 10000.00 | 20000.00 | 31.12.1991 |
| 2 | 20000.00 | 30000.00 | 12.10.1995 |
| 3 | 30000.00 | 50000.00 | 12.11.1997 |
| 4 | 50000.00 | 100000.00 | 22.10.2002 |
| 5 | 100000.00 | 150000.00 | 19.04.2006 |
| 6 | 200000.00 | 300000.00 | 11.12.2013 |
| 7 | 300000.00 | 700000.00 | 18.01.2016 |
| 8 | 700000.00 | 1000000.00 | 06.02.2019 |
2] The Society has also increased short term loan from Rs. 1000/- to Rs. 40000/-.
SHORT TERM LOAN AMENDEMENT
| Sr.No. | Previous Loan Amt | Amended Loan Amt | Date of Amendment |
|---|---|---|---|
| 1 | 1000.00 | 2000.00 | 12.11.1995 |
| 2 | 2000.00 | 5000.00 | 12.11.1997 |
| 3 | 5000.00 | 10000.00 | 28.12.2007 |
| 4 | 10000.00 | 20000.00 | 11.12.2013 |
| 4 | 20000.00 | 40000.00 | 14.01.2021 |
3] The Society has increase the monthly contribution from members from time to time.
MONTH CONTRIBUTION AMENDEMENT
| Sr.No. | Previous Contribution | Amended Contribution | Date of Amendment |
|---|---|---|---|
| 1 | 25.00 | 100.00 | 12.10.2002 |
| 2 | 100.00 | 200.00 | 19.04.2006 |
| 3 | 300.00 | 500.00 | 25.02.2011 |
| 4 | 500.00 | 700.00 | 11.12.2013 |
| 5 | 700.00 | 1000.00 | 18.10.2016 |
| 6 | 1000.00 | 1500.00 | 06.02.2019 |