Bulk Deposit for immediate loan processing
For any member wishing to do a bulk deposit, the waiting period after dumping funds is 3 months.
Otherwise, if the member's wish is to do a bulk deposit and borrow against it immediately, then the member should first write a request to the credit manager, indicating the amount they want to dump, the amount of loan they would like to borrow afterwards and the type of loan, attaching their most current pay slip. Once approval is given, then the member can proceed to do the bulk deposit.
In case approval is done to allow a bulk savings deposit for immediate loan processing, a charge of 10% is exerted exclusive of 20% excise duty.
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