The Kannur Dist. Ex-servicemen Multipurpose Co-op: Society Ltd. provides its customers with a wide range of facilities to meet their needs. Every facility has been meticulously planned and provided to ensure that they make the most of it. not to mention the efficiency with which these facilities are provided and implemented. Take a look at the services we provide:
Group Deposit Loan
Loans to groups are provided preferably in the form of cash credit and term loan as per requirement of the groups. Sanction of a cash credit/ overdraft system of lending for a longer operational tenure of 20/30/40 months may therefore be adopted to permit groups to have larger loans in tune with increasing pooled savings. This approach will provide considerable flexibility to the groups in meeting their frequent needs as well as help them in reducing their cost of borrowings.
| Sl. No | Months | Installment | SALA |
| 1. | 30 | 1000 | 30000 |
| 2. | 25 | 2000 | 50000 |
| 3. | 40 | 2500 | 100000 |
| 4. | 40 | 10000 | 400000 |
Eligibility –
The size of the group should be preferably between 20 to 40 members to enable effective individual participation in the group’s deliberations.
The group is maintaining proper accounts / records.
Documents required for loan
i. Application for loans assistance by group
ii. Duly signed agreement, Two guarantors