TSRTC CCS Loan Information & Check Status: TSRTC Employees Thrift & Credit Cooperative Society Limited – CCS INFORMATION & Application form download.
OUR SOCIETY – BASIC INFORMATION: Our Cooperative Society was established on 5th April, 1952 with an objective to help the Member and not to fall prey to the Private Money Lenders. The Society which had in the beginning 2,558 Shareholders, Share Capital of about Rs.60,000/-, Thrift of Rs.71,700/- and five employees, became the biggest and the best run cooperative in the State with 1,06,620 Shareholders and Thrift more than RS.1,216 Crores.
Membership and Thrift: All the regular employees of the Corporation are entitled to become Members of the Society. Every Member shall have only one share of Rs.300/-. Dividend is being Credited to the members MRDF A/c. Every Member immediately after joining the Society starts contributing towards Thrift (MRDF) @ 8% of his Basic Pay, rounded off to the nearest Ten Rupees. Compound Interest @ 10% per annum is provided on these accumulations. The Thrift accumulations are payable to the Members at the time of Retirement or closure of the account.
Information through the website: The members can get the information through our WEBSITE www.apsrtc.gov.in/ccsinfo. and www.18.104.22.168/ccs3. The information regarding Society, the Members loan eligibility, loan status, surety eligibility, deduction statement particulars of loan payments, monthly salary recovery particulars, various loan application forms, Fixed Deposit and Recurring Deposit forms, claim forms and other forms are available in the website round the clock.Information through
Information through SMS: Information regarding receipt of STL & EDL applications and releasing of respective loans will be provided through SMS to the Member’s Mobile Phone. To avail this facility members should furnish their Mobile Numbers on the loan application forms
TSRTC CCS Loan Information
Short Term Loans : Members are eligible for Short Term Loans on completion of One (1) year regular service in the Corporation and One (1) month membership in the Society. However, member should have minimum of 12 months MRDF amount while sanction of loan. Short fall amount if any should be recovered from the loan sanctioned. A minimum amount equal to Seven(7) months Basic Pay 110% will be granted as Short Term Loan till completion of four (4) years membership subject to satisfying other conditions. After completion of four (4) years membership, the loan will be granted taking into consideration the length of service completed in the Corporation.
At present 110% of the Basic Pay is being considered for sanction of loans. The Short Term Loan is granted subject to a maximum of Rs.3,00,000/-. However, the Members whose MRDF balance exceeds Rs.50,000/- can draw loan to the extent of 1.75 times of his Thrift subject to other conditions.
Loan eligibility will always be computed taking into consideration of a minimum take home pay of 25% on (Basic + DA + HRA) wages. However, if the gross loan amount sanctioned is Rs.60,000/- or above a Member shall have in his MRDF Account atleast 40% of the amount of loan granted. The short fall amount if any, will be recovered from the loan granted and credited to the Members MRDF account. The Borrower can repay the Short Term Loan within maximum of 84 monthly instalments.
Interest on Short Term Loans is charged @ 11% PA on monthly reducing balances. The Member applying for loan shall furnish two valid Sureties. Every Member can stand as Surety to 3 borrowers. The difference between borrowers basic pay and sureties basic pay is allowed upto Rs.2,000/-. In case, the Sureties basic pay is Rs.9,000/- and above, the above condition doesn’t apply. He may stand as surety to any three borrowers. One can apply for inclusive loan on recovery of 12 monthly instalments through salary bill.
Online Payments : The loan amount will be directly credited into Member’s salaried bank accounts. The deduction statement and loan payment particulars will be sent to the members by SMS. The members can have particulars in website also. RD, FD, CCS settlement and MOAS amounts are also being paid through online.
8-FORM : The Borrower has to provide another valid Surety to Short Term or Education Loan within two months if any of the Surety ceases to be a Member of the Society for any reason. The loan eligibility will be deferred for the period delayed in resubmission of valid surety subject to the maximum of one month.
Short Term Loan without Sureties: Short Term Loan can also be drawn without sureties on the strength of the amount of MRDF held. The amount of Short Term Loan granted in such cases is to the extent of MRDF Balance. However, members should remember that, this is not an additional loan.
50 Percent of MRDF as Short Term Loan: Members whose left over service is 3 years or less, can apply for Short Term Loan under this Scheme. It may however, be noted that this is not an additional loan facility. In case the loan eligibility reckoned as per the general conditions, is less than 50% of his Thrift accumulations, the Member is required to mention on the loan application as “Loan of 50% MRDF”. As this is not MRDF withdrawal, this loan amount is to be repaid in monthly instalments. The monthly deduction shall be made to the extent of 1/3 of Gross salary in accordance with the Co-operative Societies Act. The loan balance outstanding on the date of retirement will be recovered from his MRDF accumulations to settle the account.
Tsrtc CCS LONG TERM LOANS:
Eligibility: A Member can apply for Long Term Loan on completion of One (1) month Membership in the Society and One (1) year regular service in the Corporation. The Member should have atleast a sum equivalent to 3 years MRDF at his credit at the time of payment of Long Term Loan. The shortfall, if any, shall be recovered from his Long Term Loan Payment. The maximum of Long Term Loan is Rs.10.00 lakhs and being granted for Construction of House/Flat, purchase of Ready Built House/Flat, Extension/Completion of Construction of House. For purchase of Plot, maximum loan is Rs.5.00 Lakhs. List of required documents/certificates to be submitted along with loan application is printed in LT Loan application. Rs.350/- has to be paid along with loan application towards legal fee. In addition to the documents, four valid sureties should be furnished. In case surety basic pay is less than the Borrower, the variation should not exceed 25%. In case the surety basic pay is Rs.17,000/- and above, above said condition will not be applicable. The surety should not retire 3 years prior to the applicant retirement date. The Long Term Loan is repayable on the basis of Equated Monthly Instalments (EMI). The Interest charged is @ 9.5% per annum, on monthly reducing balances. (w.e.f 01-08-2007), for purchase of plot it is 11%
ELIGIBLE AMOUNT OF LOAN :
a) House Construction: Hundred times of Basic Pay as on the date of application or certified cost of the Construction or Rs.10.00 Lakhs, whichever is less will be granted as Long Term Loan, subject to other rules governing the sanction of such loans. However, the amount of loan will be granted after taking into consideration the minimum take-home pay of 25% of (Basic + DA + HRA) wages.
b) Purchase of House/Flat: Hundred times of Basic Pay, or the cost certified by the Engineer or Rs.10.00 lakhs, or agreement value of house excluding advance paid; whichever amount is less will be granted as Long Term Loan subject to other rules. The age of the building should not exceed 20 years to get Long Term Loan for its purchase.
c) Completion of House: Members can draw Long Term Loan for specific uncompleted works on 1st Charge, members can draw second loan for unfinished works, however the loan shall not be granted for the works for which loan was already drawn earlier.
d) Long Term Loan – Second Time: Members are eligible twice in their service to draw Long Term Loan upto Rs.10.00 lakhs for Construction of House, Horizontal and Vertical expansion of House, Purchase of Ready Built House/Flat in his name or for taking over Housing Loans drawn from other Banks/Financial Agencies.
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LOANS DOWNLOAD APPLICATION FORMS
|Short Term Loan Application Form||:||Download|
|Educational Loan Application Form||:||Download|
|Educational Loan Recovery Particulars||:||Download|
|RD Application Form||:||Download|
|FD Application Form||:||Download|
|New Membership Form||:||Download|
|Surety Renewal Form||:||Download|
|Claim Letter Form||:||Download|
|New Circular – 2||:||—|