Purpose : To meet any contingent requirement of pigmy depositors.
Eligibility : Pigmy depositors with regular contribution for 24 months.
Quantum : 3 times pigmy deposit balance with maximum Rs. 50000/-.
Repayment : 35 months for loans and overdrafts renewable on yearly basis.
Rate of interest : PLR
Security : Pigmy deposit
Margin : 25%
Requirements :Third party guarantee for the amount beyond pigmy balance. Contributions to Pigmy Deposit should be continued. |