1) Children's Education Fund Scheme : The Society is providing cash awards as encouragement to meritorious
children of its members and is giving financial assistance to needy children who excel in the academic
performances. To generate funds for the above scheme, a member has to donate just Rs.10/- from
the monthly salary.
2) Retirement Benefit Scheme : A member on retirement from service will be gifted with a gold coin weighing
one sovereign which is met from the Retirement Benefit Scheme by collecting contributions of Rs.100/- from
the members every month.
3) Special Death Relief/Endowment Scheme : Get insurance coverage up to Rs. Five Lakhs by joining the Insurance
Schemes with monthly premium @ Rs.50/- per month for Rs. One Lakh .
4) Group Insurance Scheme for Accidental Death and Permanent Disability : A benefit of Rs.8 Lakhs is assured to
the family of a deceased member whose death is due to accident. Also it provides Insurance relief in case of
permanent disability caused due to accident. This Scheme is implemented in association with M/s. United India
Insurance Company on payment of single annual premium of Rs. 280/- approximately (may vary marginally
5) Mediclaim Group Insurance Scheme : Health needs of the members and their family members are taken care
of by providing medical group Insurance scheme for a maximum of Rs.1 Lakh for whole family.
This scheme is at present operated in association with M/s. Star Health & Allied Insurance Company Ltd.
The premium for this Insurance Scheme depends on the number members of the family to whom insurance
coverage is applied for.
6) Death Benefit scheme : The Society provides immediate financial assistance of Rs.10,000/- to the family of
a deceased member in almost all cases on the date of death itself. This fund is raised by a monthly
contribution of Rs.10/- from each member.
7) Loan Linked Group Life Insurance Scheme : In association with M/s. L I C of India , a loan linked group
life insurance scheme up to a maximum of Rs. 8 Lakhs is being introduced for giving life coverage for
a member in case of his untimely death, to clear up his liability to the society occurred by way of
the loans availed by the member. This is by operated by collecting premium amounts from the members
based the loan amount availed by each member and remitting the same with M/s. LIC of India.
Saving Schemes / Finances
1) Recurring Deposits : Recurring deposits fetching cumulative interest of 9% with maturity period ranging from 1 to 5
years is a favorite and beneficial investment scheme for the members .
2) Vidya Samridhi : It is a deposit scheme for meeting the Educational needs of Children of members. Deposits can be
made monthly in multiples Rs. 100/-, continuously for 5 years. Interest given in this scheme is as high as @ 10%.
3) Thrift Deposit : It is a compulsory deposit scheme with monthly deposits ranging from Rs.5/- to Rs.100/- which
attracts an interest @ 7% per annum payable at the time of retirement or with option to withdraw at the end
of every five years .
4) Monthly Deposit Scheme (MDS) : It is another deposit scheme based on the line of "Chit funds" with chitty
commission as low as 3% when compared with 5% commission taken by other Financial institutions like KSFE.
5) Fixed Deposits : For fixed deposits for different periods attractive rate of interest is offered which is fixed
from time to time. Rate of interests are detailed in the Home Page of the Website.
6) Ordinary Loan : An Ordinary Loan of up to Rs. 8 lakhs (subject to fulfillment to eligibility criteria and
availability of fund) carrying an interest @ 12% at present (fixed by the managing committee from
time to time ) repayable in 120 equal monthly installments can be availed by any member. The member
can avail the loan by merely submitting the filled in application form and are spared from the production
of any documents other than their salary slip. The loan carries no penal interest on early closure.
7) Emergency loan : Any member can avail of this loan of up to Rs 30,000/- to meet any exigency carrying
12% interest rate and repayable in 20 monthly installments. This is subject to the condition that
the total loan availed by any member including this does not exceed Rs 8 lakhs.