HPStCB Financing to Non-Agricultural -Thrift & Credit- Salary Earner’s Societies HPStCB Loan Scheme to cover the credit requirements of the members of the Non-Agriculture Thrift and Credit Societies based on MBL of the Society.
HPStCB Financing to Non-Agricultural -Thrift & Credit- Salary Earner’s Societies EMI Calculator Loan Amount 1L 5Cr Tenure (months) 12 360 Interest Rate 6% 18% Equated Monthly Installment (EMI) will be 8606
HPSCB Loan : Features HPStCB Loan Scheme to cover the credit requirements of the members of the Non-Agriculture Thrift and Credit Societies based on MBL of the Society. Share Linkage: 1:10 Society shall advance loan to members only on the basis of prescribed security and resources available for such advancements. Individual quantum of loan: 20 times of Gross Salary upto maximum Rs. 5 Lakh. Security: Two personal sureties who are members of the society having adequate income and net worth. Hypothecation of assets created out of loan proceeds shall be created in favour of the society.
HPSCB Loan : Eligibility The Society should be registered as Non-agriculture Credit Society, at least one year prior availing the loan. Management of the Society affairs shall be in accordance with the H.P. Cooperative Societies Act, 1968 & Rules 1971. The Society should have elected Management Committee. Accounts of the Society should be audited by Statutory Auditors. The Society shall undertake that its borrowing members are not defaulters to the Cooperative Society / any bank / any other financial institution. The Society is not incurring losses for consecutive three years. Age of employee should be 18 years to less than 58 years. Each employee must repay the loan 6 months prior to date of superannuation.
HPSCB Loan : Documents Audited Balance Sheet of the previous Year MCL prepared by the Society on the prescribed format. Society to submit borrower wise receipt & disbursal statement within seven days after the disbursement of the loan amount.
