Under the provisions of the Bye-Laws, the society made different schemes on Deposit and Loans considering the varied business activities and financial needs of the members. There are different types of income groups of peoples that are accepting the membership of the society. The society has designed suitable schemes with regards to the financial status of its members. Without membership, nobody can avail its financial services or benefits that are following here under.

Deposit & Loan Schemes: The main purpose of the society is to encourage savings habit and mobilizing thrift & credit business among its members. Basically the society works for its members and so the member’s deposits will only be used to help the members. The society accepts member subscription deposits and provides loans as per their requirements. We are offering lower rate of interest (%) on loans and higher rate of interest (%) on deposits because we are a non-profitable organization. The society doesn’t allow its services to any person until they become a member.

Whosoever needs any financial help from Lakhimi, will have to first become a member of our Society before applying for the financial help. Presently the society is offering the following financial services with banking solutions to its members.

Deposit Schemes

Daily Saving Deposit

The society provides daily savings deposit facility to its members. The Member Service Provider (MSP) provides door step deposit  and moving ATM facilities to the entire village and semi-urban areas of the society. This deposit scheme encourages savings habit towards daily basis income group of members, who are self employed or involved in small scale industries. We are trying to provide financial services properly. How we can make things easier and help full to its members? The society also provides credits/loan & Advances to its members against deposits. 

Monthly Saving Deposit

This is a recurring deposit scheme for the monthly based income group of members, which include Govt. and Private Employees. We are availing to each member to choice their estimated monthly deposit subscription for a specific period with an attractive rate of interest. We also provide personal loans against this deposit of the account. Incase of payment, we also provide auto credit (auto deduction) facility from any bank account.

Co-op : Saving Deposit

This is a Cooperative Savings Deposit Account. It is working like as saving bank account. The shareholders of the society can operate this type of account. They can deposit upto Rs. 1,00,000.00 in this account. Unlimited numbers of deposit is accepted from the account holder’s which is below Rs. 1,00,000.00. Facilitating 4 times withdrawal in a month on working hours. Minimum balance of Rs. 1000.00 is needed to be maintained in the account.

Home Saving Deposit

This is a daily savings scheme where there is no any mandatory limitation on deposit. This is a domestic savings account. The minimum deposit requirement is Rs. 300/- within a month. The account holder may deposit any amount at any branch at any time on working hours. This type of deposit also matures in a particular time together with interest at once.

Super Saving Deposit

The society has a special deposit scheme which is called “Super Savings Deposit Account”. This is a middle and long term deposit scheme. The interest rate of this scheme is higher then other deposit schemes. This scheme’s tenure is 12 year from the date of opening. Monthly subscription deposit closed in completion of 5 years, thereafter deposited amount with interest forwarding to 7 year investment. It shall be depending on the depositor whether investment accepts or not. Maturity can be withdrawn with interest after completion of 60 months.

Shramik Nidhi Account

This type of account is only for labourer, including small scale technicians who are registered in the local labourer unions and identified by the District Labour Officer. Documentation is mandatory while applying to purchase share. An adult person (18 years and above) is allowed only. The society provides loan & advances and other financial assistance towards health and education of their children.

Loan Products

Loan Against Deposit

This is a simple loan scheme to the members of the society.  Incase of urgent loan and advances required by the depositor, the society provide instant loan facilities, which are very easy, simple and at lower rate of interest. This type of loans normally approved within 3 working days. The society avails up to 70% on deposits.

Domestic Micro Loan

This type of loans is available for the domestic purposes only. The society preferring household goods to the members through this loan scheme to up-lift their livelihood. Upto Rs. 1,00,000.00 is covered under this scheme. The interest rate is very lower. The repayment maximum period is 12 months from the date of disbursement.

Personal Loan

This is a popular loan scheme for an individual. The salaried or professionals may take loans under this scheme for any purpose of personal development. Including the objects – medical needs, social & cultural and religious programme arrangement etc. This is a medium term loan. The repayment period is upto 36 months from the date of disbursement and maximum approval limit is 5 laces only.

Income Generation Loan

The purpose of this scheme’s is to increase self employment, self-help activities, encourage skill development, create business leadership and employment generation. The Society provides loan to it’s members towards income generation. The Society is trying to fulfill the financial needs of it’s members who are involved in small scale industries and self engagement as shopkeepers.

Lakhimi Auto Loan

The Society facilities Auto loan against the deposit of the applicant and guarantor up to 5 laces. Where includes two wheeler, three wheeler and four wheeler. It helps the members who are living in the rural or remote areas regarding proper communication and transportation for health and education.

Lakhimi Pariwar Kalyan Reen

This is a SHG loan scheme with a purpose of woman empowerment and skill development. The society organizes small groups among the women members. Where includes 5-11 women members. There are joint liabilities of entire group members. The loan limitation per head is Rs. 10,000.00 to Rs. 50,000.00 as on various productive estimate. The priority of the scheme will be for increasing agriculture, animal husbandry and textile productivity.

Lakhimi Krishi Vikash Reen

A loan scheme for the development of the farmers. The society provides complete agriculture based loan towards financially weak farmers to help increase their productivity and strengthen financial position. Whether it may be individuals or group farming. The interest rate of this scheme is very very low.

Member Durable Loan

This is a loan scheme for members of the society towards purchase of electronics goods on EMI basis. The applicant will get instant pre-approval of loan amount. The rate of interest ranges from 0 % to 11.99 % depending on type goods and tenure. Normally disbursed within 3 working days after the completion of documentation. The repayment period may be selected for 4 months to 24 months.

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