Loan and Financing schemes
Members of the society can avail the loan and debt financing facility by the society as per the term and condition of the Society.
Interest Free Loan:
Interest free loans will be advanced to the members on the in various categories of loan. On decided terms and conditions or as decided by the Board from time to time.
Categories of loan in order of priority
- Debt repayment loans
- Business participatory loans
- Micro credit to SHG’s
- General Loans
- Educational loans
- Medical loans
- Housing loans
- Any other as decided by the board
Debt Financing:
Funds mobilized from special accounts and other idle funds will be provided to the members on decided terms and conditions or as decided by the Board from time to time.
Eligibility for Loan
Members desirous to avail loan facility shall have to apply in a prescribed loan application form subject to the condition that they hold shares of the society worth minimum 2.5% value of loan in case of secured loan and 5% value of the unsecured loan applied.
Society plans to establish EISAR Service / Support Centers (JSC) to provide information / support to the members with respect to government welfare schemes. It also plans to establish/supply high quality consumption goods on discounted prices to its members.
Particularly following work is planned to be carried on over a period of time:
- Guidance about Govt. Schemes
- Supply of Goods and Services
- Locker facility and Trustee services
- Receive and make payments
- Micro insurance and money remittances
- Any Other Services as decided from time to time
The EISAR Interest Free Microfinance program promotes and facilitates volunteerism. Volunteers don’t get paid, not because they’re worthless, but because they’re priceless.