State Bank of India ( Bhopal Circle), Karmchari Sahakari Sakh Samiti Maryadit (Madhya Pradesh & Chhatisgarh) , A Multi-State Co-operative Society,( Regd.No. MSCS /CR /133 / 2001 ) C/o : State Bank of India, Local Head Office, Hoshangabad Road, Bhopal - 462 011,

Q 1 WHO CAN BE THE MEMBERS OF THE SOCIETY ?
ANS: PERMANENT EMPLOYEE OF SBI CAN BE THE MEMBER OF THE SOCIETY.

Q 2 WHAT IS THE ELIGIBILITY FOR SECURING LOAN FROM THE SOCIETY ?
ANS:i)MEMBERS WITH 2 YEARS SERVICE CAN AVAIL LOAN OF Rs 2 LAC.

ii) FOURE YEARS CONFORMED SERVICE IN THE BANK FOR LOAN OF Rs 5 LAC W.E.F 6/9/2015.

Q 3 WHAT IS THE LIMIT OF LOAN ?
ANS: 35 TIMES OF SALARY (BASIC+DA+SPL ALLOWANCE) OR MAXIMUM RS. 5LACS, WHICH EVER IS LESS.

Q 4 WHAT ARE THE NECESSARY CONDITIONS FOR SECURING LOAN ?
ANS
i. TWO GUARANTORS WHO ARE MEMBERS OF THE SOCIETY AND THEIR LIMIT SHOULD NOT EXCEED RS.20 LACS FOR OFFICERS /AWARD AND RS. 15 LACS FOR SUBORDINATE STAFF.

ii PERMISSION OF DGM IS NECESSARY IN CASE OD LIMIT HAS BEEN AVAILED BY THE MEMBER.

iii DEDUCTIONS FROM THE SALARY INCLUDING THE INSTALMENT OF LOAN SHOULD NOT EXCEED 60% .

iv GUARANTOR SHOULD NOT BE DEFAULTER OF THE SOCIETY.

v THE SERVICE PERIOD OF BORROWER/GUARANTOR SHOULD NOT BE LESS THEN THE REPAYMENT PERIOD.

vi SHARES WORTH 10% OF LOAN AMOUNT IS TO BE ACQUIRED BY THE BORROWER.

Q 5 WHAT ARE THE PURPOSES FOR WHICH LOAN CAN BE GRANTED ?
ANS PURCHASE/ REPAIRING OF HOUSE/PLOT, MARRIAGE, RITUALS, MEDICAL.

Q 6 WHAT ARE THE INSTALMENTS FOR REPAYING THE LOAN?
ANS HOUSING PURPOSE MIN. 12 MONTHS AND MAX 120 INSTS. OTHERS MIN, 12 MONTHS AND MAX. 84 INSTS.

Q 7 WHAT WILL BE THE EMI PER LAC OF LOAN?
ANS
HOUSING PURPOSE RS. 8700/- P.M. FOR 12 MONTHS
RS.1250/- P.M. FOR 120 MONTHS
OTHERS RS. 8700/- P.M. FOR 12 MONTHS
RS. 1800/- P.M. FOR 84 MONTHS

Q 8 ARE THERE ANY CONDITIONS FOR LOAN WAIVER?
ANS IN THE EVENT OF DEATH.

Q 9 HOW SHARE MONEY CAN BE REFUNDED?
ANS. SHARE MONEY WILLBE REFUNDED AFTER LIQUIDATION OF LOAN OR COMPLETION OF 1 YEAR FROM THE DATE OF ISSUE.

Q10. HOW CAN THE MEMBER WITHDRAW MEMBERSHIP FROM THE SOCIETY?
ANS. MEMBER SHOULD HAVE NO OUTSTANDING AND STOOD NO GUARANTEE OF ANY BORROWER.

Q.11 WHAT ARE THE BENEFITS OF RETIREMENT BENEFIT SCHEME?
ANS. ON RETIREMENT OF MEMBER WHO HAS COMPLETED 10 YEARS OF MEMBERSHIP, AN HONORARIUM OF Rs.7500/- W.E.F. 01/01/2010 IS GIVEN BY THE SOCIETY.

Q.12 WHO ARE ELIGIBLE FOR SCHOLARSHIP OF THE SOCIETY?
ANS. THE WARDS OF THE MEMBERS WHO HAVE SECURED 80% AND ABOVE MARKS IN THE EXAMINATION AS UNDER ARE ELIGIBLE FOR SCHOLARSHIP, ACCORDINGLY:-

1. 8TH STD. Rs.1500/-

2. 10TH STD. Rs. 2000/-

3. 12TH STD. Rs. 2500/-

4. STUDENTS WHO PASS HIGHER EXAM (GRADUATION/POSTGRADUATION) WITH 70% AND ABOVE MARKS ARE ENTITLED TO GET RS.2500/- (ONE TIME) W.E.F. ACADEMIC YEAR 2009-10

Q.13 WHAT ARE THE BENEFITS OF SECURITY AND AID FUND(SAF)
ANS IN THE EVENT OF DEATH OF A MEMBERS, HIS NOMINEE SHALL BE PAID A SUM EQUIVALENT TO Rs 1,00,000/- EXCLUDING VALUE OF SHARE AND ACCRUAL IN MCCDF PLUS INTEREST THEREON.

IN THE EVENT THE DECEASED HAS AVAILED HIMSELF A LOAN FROM THE SOCIETY, A MORATORIUM UPTO RS. 5,00,000/- SHALL BE GRANTED AFTER APPROPRIATING THE VALUE OF SHARES, ACCRUAL IN MCCDF ETC.

 

 
HIGHLIGHTS

LOAN UPTO Rs. 5 LAC @ 7%

SCHOLARSHIP FOR SCHOLAR STUDENTS

LOAN WAIVER OF DECEASED MEMBERS

MEMBER CAN DEPOSIT MAXIMUM Rs 90, 000/- AS SHARE MONE

Rs 10,000/- HONORARIUM TO RETIRED MEMBERS

 

 
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