Services

It is a deposit account in which a member deposits @ Rs 100/- p.m. The Society credits Interest every year in this account to make a sizable amount for the member at the time of Retirement / Cessation of Membership.

It is Deposit–cum-Insurance Scheme. In this Scheme a member deposits @ Rs 200/- p.m. Every year the Society makes Interest Provision on the entire amount collected under this Scheme. By effective utilization of the fund evolved by such Interest Provision, the Society provides Life Cover of upto Rs 3,00,000/- (Rupees Three lacs only) for natural death and Life Cover of Rs 10,00,000/- (Rupees Ten Lacs only) for accidental death. The Society consistently explores possibilities to raise cover benefits so that optimum benefits be transferred to its members.

A unique feature of this Scheme is that the entire principal amount deposited by a member is refundable at the time of Retirement / Cessation of Membership. Hence, the only Interest factor of the Scheme is utilized to cover the Risk.

A member may be sanctioned Long Term Loan upto Rs 6,00,000/- at easy terms repayable in 84 or lesser EMIs. The special feature of this Loan Scheme is stated at Chart

Repayment period	36 Months	48 Months	60 Months	72 Months	84 Months
EMI for Rs 1 lac	Rs. 3200/-	Rs. 2470/-	Rs. 2030/-	Rs. 1750/-	Rs. 1540/-
EMI for Rs 2 lacs	Rs. 6400/-	Rs. 4930/-	Rs. 4060/-	Rs. 3490/-	Rs. 3080/-
EMI for Rs 3 lacs	Rs. 9590/-	Rs. 7400/-	Rs. 6090/-	Rs. 5230/-	Rs. 4620/-
EMI for Rs 4 lacs	Rs. 12790/-	Rs. 9860/-	Rs. 8120/-	Rs. 6970/-	Rs. 6160/-
EMI for Rs 5 lacs	Rs. 15980/-	Rs. 12320/-	Rs. 10150/-	Rs. 8710/-	Rs. 7690/-
EMI for Rs 6 lacs	Rs. 19180/-	Rs. 14790/-	Rs. 12180/-	Rs. 10460/-	Rs. 9230/-

* EMIs have been rounded off to higher tens. Hence, the final instalment requires adjustment.

A member may be sanctioned Short Term Loan upto Rs 1,00,000/- at easy terms repayable in 20 or lesser EMIs. The special feature of this Loan Scheme is stated at Chart.

Repayment period	09 Months	12 Months	15 Months	18 Months	20 Months
EMI for Rs 25 thousand	Rs. 3220/-	Rs. 2370/-	Rs. 1880/-	Rs. 1560/-	Rs. 1410/-
EMI for Rs 50 thousand	Rs. 6440/-	Rs. 4730/-	Rs. 3750/-	Rs. 3120/-	Rs. 2810/-
EMI for Rs 75 thousand	Rs. 9660/-	Rs. 7090/-	Rs. 5630/-	Rs. 4680/-	Rs. 4210/-
EMI for Rs 1 lac	Rs. 12870/-	Rs. 9450/-	Rs. 7500/-	Rs. 6240/-	Rs. 5610/-

Recurring Deposits: A member can open RD Account with the Society with check off facility through HRMS.

Under Rinn Kawach Scheme all loan outstandings of members’ LTL/STL accounts will be insured at the time of unfortunate death of members.

To cover the amount, the Society will realize @ 0.35% of the members LTL/STL outstandings (dr. balances) as on 31st March and 30th September each year to for a suitable fund. In regard to the sum insured in this way, the amount of premium so calculated is a nominal one.

As this Scheme has been formulated by studying the facts and figures for the last few years, the rate of premium (as stated 0.25%) is applicable for the current financial year only (i.e. 2015-16). For survival of the noble Scheme, the rate and frequency as stated may be rescheduled as per requirement in the coming years.

Death Cover under Family Welfare Scheme (FWS) for Rs 3 lacs (in case of Natural death) & Rs 10 lacs (in case of Accidental death) WILL BE PAID TO THE NOMINEE ADDITIONALLY.

RANCHI GUEST HOUSE :

The Society runs Guest House at Ranchi at its owned flat with Three Bed rooms. Address: 3rd Floor, Shiv Tara Apartment, Opp - SBI Main Branch, Kutchery Chowk, Ranchi - 834001.

PURI GUEST HOUSE :

The Society has commenced its Guet House at Puri at Hotel Sambit Palace, Renuka Lane (Beside Dada-Boudi Restaurant), Swargadwar, Sea Beach Puri. It has three rooms as per chart:

Room Specification	Number of rooms
Two beded AC Room	One
Three beded AC Room	One
Four beded AC Room	One

For bookings at Guest House, a member has to contact the Society Office at 0651-2361832. Apply on Guest House Form and send or mail to southbiharcoop@yahoo.co.in.