JOIN US

PROCEDURE TO JOIN AS MEMBERS

Potential Members must:

  • be an employee of the Ministry of Health & Quality of Life

  • be under 65 years of age

  • fill in a Membership Application Form

  • pay the subscription of Rs 100 (Entrance Fee) to cover the registration and purchase of shares (10 x10=Rs100)

After approval of membership, every new member :

 

  • must sign the register of members and declare the name & address of nominees

  • must contribute the minimum sum of Rs 100 monthly by check-off or standing order 

LOAN PROCEDURES

Eligibility

 

* After 6 months of contribution a member is eligible for a loan (4 times shares accumulated) with a ceiling of RS 300,000.

 

* Application should be done on the prescribed forms available at the Society.

 

* Loans to be guaranteed by 2 active members of the Society.

 

* Support by ID card, CEB/ CWA/Telecom bill.

 

* Within 1 month the loan is processed and the member is informed.

 

Loan repayment is over a period of time calculated on the amount of loan applied for the maximum

not exceeding 50 months.

 

 

All loans are protected by a death gratuity. In case of death any balance unpaid clears with the debtor.

 

RECASH SYSTEM

To be eligible for a recash the member should reimburse 50% of his existing loan.