Answers to common questions about membership, loans, deposits, and KYC.
Who can become a member of the society?
Any eligible individual who meets the society’s membership criteria and submits the required documents can become a member.
What documents are required for membership?
Aadhaar Card, PAN Card (if applicable), passport-size photographs, address proof, mobile number, and a completed membership application form.
Is there a membership fee?
Yes. A one-time membership fee and share contribution are applicable as per the society’s rules.
Can non-members apply for loans?
Generally, loans are available only to registered members of the society.
How long does membership approval take?
Membership is usually approved within 3–7 working days after document verification.
Can I update my personal details later?
Yes. Members can update their address, mobile number, nominee, and other details by submitting a request.
Can I nominate a family member?
Yes. Members can add or update a nominee at any time.
How can I cancel my membership?
Submit a written request to the society. The process will be completed according to the society’s bye-laws.
What types of loans are available?
Personal Loan, Gold Loan, Education Loan, Agricultural/Crop Loan, Business/Working Capital Loan, and Medical Assistance Loan.
Who is eligible for a loan?
Registered members who meet the society’s eligibility criteria and repayment capacity.
What documents are required for a loan?
Membership ID, Aadhaar Card, PAN Card, address proof, income proof (if applicable), bank statement, passport-size photographs, and any additional documents depending on the loan type.
How long does loan approval take?
Loan approval typically takes 2–7 working days after successful verification.
Can I repay my loan early?
Yes. Prepayment or foreclosure is allowed as per the society’s policy.
How is the EMI calculated?
EMI depends on the loan amount, interest rate, and repayment tenure.
Is collateral required?
It depends on the type of loan. For example, Gold Loans require pledged gold, while some loans may require security or guarantors.
What happens if I miss an EMI?
Late payment charges or penalties may apply, and repeated defaults may affect future loan eligibility.
What deposit schemes are available?
Savings Account, Recurring Deposit (RD), Fixed Deposit (FD), Daily Deposit Scheme, Senior Citizen Deposit Scheme, Wealth Builder Plan, Youth Savings Scheme, Salary Saver Scheme, and Micro Savings Scheme.
What is the minimum deposit amount?
The minimum amount varies depending on the scheme.
Can I withdraw my deposit before maturity?
Yes, premature withdrawal is permitted for certain schemes, subject to applicable terms and penalties.
How is interest calculated?
Interest is calculated according to the selected scheme, tenure, and prevailing interest rate.
Can I renew my Fixed Deposit?
Yes. You may renew your Fixed Deposit upon maturity.
Is nomination available for deposit accounts?
Yes. Nomination is available for all eligible deposit schemes.
How do I receive the maturity amount?
The maturity amount can be credited to your registered bank account or paid as per the society’s payment policy.
Can I open multiple deposit accounts?
Yes. Members can open multiple deposit accounts under different schemes.
What is KYC?
KYC (Know Your Customer) is the process of verifying a member’s identity and address to comply with regulatory requirements.
Why is KYC mandatory?
KYC helps ensure secure transactions, prevent fraud, and comply with regulatory guidelines.
Which documents are accepted for KYC?
Aadhaar Card, PAN Card, Passport, Driving Licence, Voter ID, and address proof (if different from Aadhaar).
Can I complete KYC online?
If the society provides online KYC services, you can upload the required documents through the website or mobile application.
When should I update my KYC?
You should update your KYC whenever there is a change in your name, address, mobile number, or identity documents.
What happens if my KYC is not updated?
Your account or certain services may be restricted until the KYC information is updated.
Is my personal information secure?
Yes. The society keeps your personal information confidential and uses it only for official purposes in accordance with applicable data protection and regulatory requirements.
Who can I contact for KYC assistance?
You can visit the nearest branch, call the customer support team, or contact the society through the Contact Us page on the website.