Ulhasnagar Municipal Corporation Employees Co-Op. Credit Society Ltd.

Schemes

Fixed Deposit and Recurring Deposit Scheme


All the members of our organization are informed that the organization will pay interest at attractive interest rates from June 2003 onwards. The money you have invested will be used to distribute loans to needy members of the organization. This amount will be renewed at the end of the investment period. The amount of premature deposit should be at least Rs. Is. Also, since April 2011, the institute has started recurring deposit (R.D) at attractive interest rate and their interest rate will be the same as term deposit and reserves the right to change the terms, conditions and interest rate as required. Also, periodic deposit account cannot be opened for less than 5 years. Recurring Deposit Account cannot be closed for 5 years and the amount of the closed account will not be refunded till the expiry of 5 years.

Attractive Interest Rates


Term Deposit Scheme Recurring Deposit Scheme
For 1 year to 3 years: 9% For 5 years: 9.5%
From 3 years onwards: 9.5%
However, all the members of the society are requested to take advantage of this scheme and cooperate with the society.


Loan Planning and Social Work



  • Long Term Loan Limit - From August 2015, Rs. 2,32,000 /- to Rs. 2,60,000 /- was increased from Rs. 260,000 from February 2017 to Rs. 360,000 from September 2017 to Rs. 3,600,000 /- to Rs.5,00,000 /- from August 2019 to Rs.5,52,000 /- to Rs. 600,000 /- from Oct 2021 to Rs.6,30,000 /- from 1 August 2022 to Rs.6,65,000 /- to 1 April 2023 to Rs.7,00,000 /- has been made.
  • Short Term Loan Limit - From April 2015, Rs. 12,000 /- to Rs. 20,000 /- from January 2020 to Rs. 20,000 /- 30,000 /- 40,000 / - has been increased.
  • Educational Loan Limit - Form the year 2019, for the education of the men=mbers, Rs. 50,000/- education loan is being disbursed.
  • Rs. 35,000/- to retired members and immediate relief to heirs of deceased members rs. 45,000/- are paid.
  • Interest- free personal assistance in case of accident to members while at work Rs. 10,000/- are paid.
  • Rs.11,000/- is given by the organization (kanyadan Yojana ) for the marriage of members daughter from Annual General Meeting 19/06/2022 .
  • The loan amount will be repaid as per the government's salary deduction rules.