Festival Loan
Financial assistance for eligible shareholders during festivals
Festival Loan Details
Important eligibility, repayment and sanction conditions
An amount of ₹1,00,000/- will be sanctioned towards the Festival Loan.
The shareholder must have a minimum of 30% take-home salary.
Number of instalments: 24 / 36 / 48
Rate of Interest: Flat 7% P.A.
The loan will be sanctioned proportionately as per the shareholder's eligibility.
No surety is required for the Festival Loan.
A new member can avail this loan only after recovery of 12 CMTD recoveries and after availing General Loan.
Eligibility & Repayment
Key requirements for availing the Festival Loan
Minimum 30% take-home salary is required.
Repayment is available in 24, 36 or 48 instalments.
The loan amount is sanctioned proportionately according to eligibility.
New members must complete 12 CMTD recoveries and avail General Loan before applying.
Documents to be Enclosed
Self-attested copies of the following documents are required
Borrower Bank Details
Borrower Bank Pass Book or Cancelled Cheque Xerox (Salary Account) with self-attestation.
Borrower Salary Documents
Borrower's latest 3 months Pay-slips and CCS Passbook Xerox with self-attestation.
New members must complete 12 CMTD recoveries and avail the General Loan before applying for the Festival Loan.