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REGULATION OF FIXED DEPOSIT
1.Submission of this receipt is necessary for drawing principle. On maturity, this receipt should be surrendered by the depositor duly stamped and signed.
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2. The interest on fixed deposits shall cease on the expiry of the period for which the deposits were made, unless notice in writing of the intention to renew the deposit for further period, has been received in the office of the society before the expiry of original period. However, if a depositor fails to apply for renewal of the deposits before expiry of the original period and if the application for renewal is received from the depositor within 30 days after the expiry of the original period, the Board may, if it is satisfied with the reasons for the delay permit renewal of the deposit for further period.
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3. The interest of the deposits shall be paid on the last day of every month, credited to the bank account of the depositor.
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4. The Board of Directors are whole responsible for repayment and may regulate the rate of interest, terms and other operations of the fixed deposits from time to time, however the approved term and rate of interest shall not be changed at any cost.
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BANK DETAILS FOR ONLINE TRANSACTION
BANK NAME : IDFC FIRST BANK
BRANCH : CHETPET CH-31
A\C NAME : THIRUVALLUVAR TRANSPORT CORPORATION EMPLOYEES CO-OPERATIVE CREDIT SOCIETY LTD / TTC EMP COOP CR SOC LTD
A\C NO : 10000324770
IFSC CODE : IDFB0080101
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SURETY LOAN
1. The loan shall be given to the regular and permanent employee of State Express Transport Corporation Limited, Tamil Nadu(SETC LTD) only with the surety of 2 more employees on bi-partial contract between society and member employee.
2. If the principle debtor fails to remit the monthly dues the same shall be collected from their sureties stood for the purpose.
3. However the great privilege of co-operative institution can deduct Its loan from the principle debtors and salary of their sureties through Pay Disbursing Officer(PDO) of the SETC LTD.
4. Individual Maximum Borrowing Power (IMBP) Consists on basis of 25% the gross salary of member employee (or) 5 times of the share capital held by them at an extend of Rs.25 lakh each member employee.
INTEREST RATE
6.99%-FLAT
