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  ABHYUDAYA CO-OPERATIVE BANK LTD.
  MULTI STATE SCHEDULED BANK
   

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Thursday, 19-Oct-2017  09:18:31 AM
 
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Billing Service Facility for Co-op. Hsg. Societies
 
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
 
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