BANK’S MEMBERSHIP

 1.  Benefits to Members

-     The requirement of tax at source on interest-income is not applicable to members deposit accounts.

-     Eligible to get loans on personal sureties upto Rs.1,00,000/-

-     Eligible for loan for construction of house upto Rs.15.00 lakhs against mortgage of property.

-     Eligible for Pledge/hypothecation loans against NSCs, Kisan Vikas Patras, Insurance Policy, Motor vehicle, etc.

-     He/She has a right to cast his/her vote in the election of the board of directors.

-     A member can stand surety for two borrowers only.

2.    Requirements to become members of the Bank 

-     He/she should have attained the age of 18 years.

-     He/she should be of a sound mind.

-     There should not be any thing against him/her involving moral turpitude.

-     He/she should not be a member of any other cooperative bank/thrift & credit society.

-     His/her application for membership should be sponsored by two members of the Bank.

-     He/she should produce with his/her application for membership the following documents:-

-     (i)   Two passport size photographs;

-     (ii)  Photo copy of Ration Card or Voter’s Identity Card or passport                   

      (iii)  Proof of Income

-     (iv)  Permission from employer to become a member, if employed.

-      A Payee’s Account cheque for Rs.2200/- in favour of ‘The Vaish Coop. Adarsh Bank Ltd.’ towards share money,

       compulsory deposit and admission fee as follows:-

For membership, the Bank Branch nearest to the applicant's residence may be approached.

                                                                         
Last modified: 02/02/09