Membership & General Information
Membership eligibility, deposits, loans and other facilities available to shareholders.
Membership Eligibility
Documents required to become a member
Any Permanent Railway Employee can become a member of the Society by submitting the following:
Admission Form
Admission form duly forwarded by the department.
Latest Payslip
Latest salary payslip of the employee.
Photographs
Two recent photographs.
CMTD & Loan Instalments
Salary recovery and cash payment facility
The Compulsory Monthly Thrift Deposit (CMTD) and loan instalments would generally be recovered from the respective shareholder's salary through their respective departments.
In case of any non-recovery, non-payment or repayment, the amount may be paid at the cash counter of the Society and its branches.
Loans Available to Shareholders
Shareholders can avail the following loan facilities subject to the applicable conditions.
General Rules & Facilities
Deposits
Deposits are accepted from shareholders of the Society only. A member can avail the other facilities extended to them like Scholarship, Medical Aid etc.
Membership Closure
A shareholder can close his/her membership only after a minimum period of 3 years and he/she must repay all loans issued by the Society.
Retirement Benefit Fund (RBF)
RBF is granted maximum of ₹5,000/- to shareholders who complete 20 years of membership and close within 3 months of their retirement.
Death of Shareholder
In the event of death of the shareholder, the dues of the member would be dealt with by the Society depending on the existing rules of the Society.
Accidental Death Benefit
In case of accidental death, an amount of ₹10,00,000/- would be paid to the nominee depending on the existing rules of the Society.
Applicable Conditions
Conditions apply as per MSCS Act.
All facilities and benefits are subject to the applicable rules and conditions of the Society.