THRIFT DEPOSIT

It is a saving just like an R.D. Presently the monthly Thrift Deposit Subscription is fixed as Rs.1500/-. This monthly subscription is mandatory. The Subscription amount is increased slowly from time to time. If individual members wish, they can increase the amount upto 25% of their Basic Pay.

Interest on Thrift Deposit : @ 7.25 % disbursed every year at General Body Meetings. It is credited into their salary C.A/c directly on the G.B. Meeting Date.

SHARE CAPITAL

Members can buy shares at Rs.10/- each. One can get shares upto one sixth of the maximum loan limit fixed from time to time. The present loan limit is Rs.1,01,0000. Hence one can contribute towards shares upto Rs.1,50,000/-. One can remit the required amount and get the shares if he / she does not intend to avail loan. Or if a member avails loan the required share amount will be deducted from the loan proceeds. This amount will be refunded at the time of membership closing. This also constitutes saving like a Fixed Deposit. Surety Loan is sanctioned upto 6 times of one’s share holding, of course, subject to one’s eligibility.

DIVIDEND ON SHARES: Dividend on shares is disbursed every year during the month of September. For the year 2024-25 it was at 11%. Certainly it is a high return on one’s savings.

MEMBER'S FAMILY WELFARE DEPOSIT SCHEME

Every member contributes Rs.50/- p.m. towards this Fund. This monthly subscription is mandatory. Our Society is maintaining this Members’ Family Welfare Fund to alleviate the hardship experienced by the family of the deceased members. In the event of unfortunate demise of members while in service, financial assistance is extended to the family as detailed below:

MEMBERS WELLFARE FUND


PERIOD OF MEMBERSHIP
ASSISTANCE AMOUNT
MEMBERS WELFARE FUND Rs. 10,000
MEMBERS FAMILY WELFARE SCHEME Rs. 1,00,000

Our Society refunds the whole amount contributed when members retire from service or withdraw their membership while in service. This is also one type of saving.

NOTE : 1. Minimum Deposit Amount Rs. 10,000/-

2. Rates of interest are subject to change from time to time.

3. Interest will be compounded ( Quarterly/Half-yearly/ Yearly )

4. Deposits are accepted for a minimum period of 91 days and Maximum period 24 Months.

Contact Us

STATE BANK OF INDIA OFFICERS CO-OPERATIVE THIRFT & CREDIT SOCIETY LTD.,

34/9, SECOND LINE BEACH, III FLOOR, S.C.C. ANTHONY PILLAI BHAVAN, POST BOX NO:1831, CHENNAI-600 001.

044 25221913

86087 82057

94452 10785

SBIosociety1975@gmail.com

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