Loan

A fixed deposit loan is provided against the member’s fixed deposit account. Members can obtain a loan by keeping their fixed deposit as security, allowing them to access funds without breaking their deposit. This type of loan is usually offered at a lower interest rate and is considered a safe and convenient borrowing option.

Eligibility

Members can obtain a fixed deposit loan if they:

• Hold an active fixed deposit account in the cooperative
• Request a loan amount within the allowed percentage of the deposit value
• Agree to cooperative repayment terms and conditions
• Maintain the fixed deposit until loan settlement