Enhance the productivity of your society & its members by concentrating on other productive developments
Benefits to the Co-op Hsg Societies & its Members
- Reduced or no efforts required for collection of periodical maintenance charges
- Reduced work for maintaining society record and documents
- Time & Efforts saving
- No need of depositing cheques and no follow up is required for cheque clearing
- Free cheque book facility for Society’s Account
- Zero Balance Facility for members of Co-op Housing Societies
- Members of Society who want to avail the cheque book & ATM facility are required to have a minimum balance of Rs.1000/-
Scheme Details
- All Co-operative Housing Societies can avail this facility
- KYC norms should be fulfilled by Housing Society as well as by Members
- Billing services will be made available under following conditions
- Society having 20 or less members - All members of society should open their Saving Account with the bank
- Society having more than 20 members - 75% of total membership or minimum 20 which ever is more should open their accounts
- Members having Saving Accounts with the Bank shall give standing instruction for deduction of maintenance charges
- Necessary resolution should be submitted by the society members to the branch for availing the Billing services facility
- Branch shall generate statement of bills for which the maintenance charges are collected
- No cash will be accepted for credit of society’s account, either by the individual member or by office bearers
- Maintenance receipts generated will be handed over to the office bearer of the society against his/her acknowledgement