Frequently Asked Questions

Membership fee is non-refundable once membership is approved by the Board. However, you can resign from membership anytime by submitting a written resignation. Your deposits, shares and accrued benefits will be returned to you as per cooperative society bye-laws within 30 working days.

Minors above 10 years can open joint accounts with a natural guardian. NRIs and PIOs can become members as per RBI guidelines, subject to submission of valid passport, visa and overseas address proof. KYC needs to be completed either through video verification or by visiting Indian branches.

Yes. Our cooperative society follows the principle of "one member, one vote" regardless of the membership tier or amount deposited. Every eligible member above 18 years can vote in AGM and contest for Board positions as per bye-laws.

Individual members need: (1) Aadhaar Card as ID and address proof, (2) PAN Card for tax purposes, (3) 2 latest passport size color photographs. Additional documents needed for business/entity members: Registration certificate, GSTIN, PAN of entity, KYC of all partners/directors, last 2 years IT returns.

Absolutely. You can upgrade anytime by paying the difference amount between your current plan and higher plan. Upgrades from Basic to Premium cost ₹4,500; from Premium to Elite cost ₹20,000; and Basic directly to Elite costs ₹24,500. All upgraded benefits apply from the date of upgrade.

Yes! 20% of our annual net profit is distributed as dividend to members proportionate to the average deposits maintained during the year. An additional 5% is allocated as patronage bonus based on number of years of membership. Dividend is tax-free for members up to ₹10 lakh per year as per Income Tax Act.

You must update latest contact details immediately through any of these channels: (1) Self-service update in mobile app or net banking, (2) Written application at any branch, (3) Email from registered email ID with scanned address proof. Changes take effect within 24 hours post verification.

For our EXISTING members with good track record and pre-approved limits: Disbursal within 24 hours from application. For Gold Loans: Same day (within 2 hours) after gold appraisal. For New members: Complete process including document verification, credit check and sanction typically takes 48-72 hours for secured loans and 24-48 hours for gold loans. You can track real-time application status in mobile app and get SMS/email at every stage of processing.

We believe in COMPLETE TRANSPARENCY with ZERO hidden charges. Our standard processing fees: 1% of loan amount for Business/Housing/Vehicle/Education, 0.5% for Personal loans, 0% for Gold/Agriculture/SHG loans. Additional actual statutory charges: CERSAI/SARFAESI registration (₹500-2,000), stamp duty (varies by state 0.1%-0.5%), CIBIL report cost (₹50 one-time). No foreclosure charges after 12 months of repayment. No hidden inspection charges, legal charges or documentation fees for regular cases.

Yes, part prepayment and full foreclosure is allowed anytime. For floating rate loans (Business, Housing, Overdraft): NO foreclosure charges as per RBI directive. For fixed rate loans (Personal, Gold, Vehicle): Foreclosure charges of 3% to 5% of outstanding principal apply only if foreclosed within first 12 months; after that ZERO charges. Part prepayment minimum is 3 EMIs. You can use lumpsum bonus, salary increments, FD maturity etc. to prepay and save huge interest over loan tenure.

EMI = Equated Monthly Installment - the fixed amount you pay every month towards loan repayment. Each EMI comprises two parts: Principal component (reduces your loan balance) and Interest component (cost of borrowing). In initial years of long-tenure loans like housing, interest portion is higher; towards the end, principal portion dominates. You can use our FREE online EMI Calculator on the Calculators page to compute exact EMI, total interest outgo and see the complete year-by-year amortization schedule. You can even download amortization PDF for free.

We understand genuine emergencies, but regular EMI repayment helps build good CIBIL score. If you miss an EMI: (1) Late payment penalty of 2% per month (24% p.a.) is charged on overdue amount, (2) Bounced cheque/NACH/auto-debit attracts ₹350 bounce charges, (3) Reported to CIBIL after 30+ days overdue affecting credit score, (4) Legal action under SARFAESI Act only after 90+ days continuous default (last resort). If you foresee difficulty, CALL your RM immediately BEFORE due date. We can offer temporary EMI moratorium or restructuring for genuine cases like job loss, medical emergency or business slowdown.

Depends on loan type and amount: Gold Loan = Pledge of gold jewelry (100% secured), Housing Loan = Equitable mortgage of property, Vehicle Loan = Hypothecation of vehicle RC in our favor, Business Loan above ₹10L = Collateral security (property, FD, LIC etc.) OR 2 credit worthy guarantors. Business loan below ₹10L for existing members with 3+ years relationship: UNSECURED / collateral free available. Personal Loan up to ₹5L: No collateral, no guarantor. Agriculture KCC / SHG Loans: Only group guarantee / hypothecation of crops. We always try to structure the facility with minimum security burden to borrower.

Yes, we offer Balance Transfer facility for all types of existing loans (Home, Car, Business, Personal, Education) taken from any bank or NBFC. Benefits of transfer to us: (1) Lower interest rate - save lakhs in long tenure, (2) Top-up loan over and above the transferred amount for your needs, (3) We bear stamp duty and valuation charges for housing loan transfers above ₹25L subject to conditions, (4) No foreclosure charges on existing floating rate loans as per RBI rules. Just share your latest loan statement and sanction letter; we handle the entire paperwork and coordination with your existing lender for a smooth switch.