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Daily Loan Scheme:

DAILY LOAN SCHEME (D.L.S.) RULES:

  • The loan period will be for three or six months.
  • The loan amount will be maximum of Rs. 50,000/-
  • A person having daily income will be admissible for D.L.S.
  • The loan will be paid back by daily installments.
PERIOD OF THREE MONTH PERIOD OF SIX MONTHS
LOAN AMOUNT DAILY INSTALLMENT WITH INTEREST LOAN AMOUNT DAILY INSTALLMENT WITH INTEREST
10000 120 10000 65
20000 240 20000 130
30000 360 30000 195
40000 480 40000 260
50000 600 50000 325

 

Terms and conditions:

  • After opening of daily loan account if the borrower discontinues daily deposit account, 6% of DDS account will be deducted.
  • Under Daily Loan Scheme, Sundays and pre declared holidays will be considered holidays and the borrower can pay holiday installment without penalty.
  • In case the borrower doesn't pay daily installment, a penalty of 10% has to be paid along with next day's installment.
  • On nonpayment of loan amount including interest and penalty interest by due date, an additional interest @ 6% of loan amount will be charged as penalty on daily basis.
 
 
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