Dharampeth Mahila Co-op Society starts ‘Durga Gold Loan Scheme’

Source: The Hitavada      Date: 19 Sep 2017 09:21:29


Business Bureau,

THE Dharampeth Mahila Multi State Co-operative Society Limited, Nagpur has launched the ‘Durga Gold Loan Scheme’ to benefit its members during the festive season. This was announced by Nileema Bawne, Chairman of the society while talking to the media on Monday.

On the auspicious occasion of Navratri festival the society has introduced the Durga Gold Loan Scheme where members can avail gold loan upto Rs 2 lakh at 7.90 per cent interest per annum. The interest amounts to Rs 658.33 per month on a gold loan of Rs 1 lakh. Member can repay the capital amount anytime within the year. Similarly, a gold loan more than Rs 2 lakh will attract interest of 8.90 per cent for a one year period. Members can avail maximum gold loan upto Rs 25 lakh. The society is offering an amount of Rs 2,100 per 10 gram of gold as loan which is one of the highest in the industry. The scheme will end on September 30, she said.

She highlighted that the society has opened a record 10,000 zero balance savings accounts in June-July. In order to provide better service to members it has introduced electric bill payment facility from their savings accounts. Furthermore, LIC and GIC premium payment facility has also been started. “The objective of the society is to transform into a bank and offer similar value added services. Moving in this direction it has introduced printed passbook and updation facility at any of its 27 branches,” said Pratap Hirani, Management Advisor. Present were Sarika Pendse, Vice-Chairman and Neelam Bowade, Director.