Our Bank provides Safe Deposit Vault (locker) facilities to the members and customers to safeguard their valuable belongings. Different sizes of lockers are available and the customer can opt as per their requirements. Sizes, Annual rent and caution deposits are as tabulated below.

Note : Usage of Locker facilities are subject to rules and regulations framed by the bank in this regard.

Fixed Deposits

Fixed Deposit is a deposit  of money reciceved by the bank for a fixed period of time. It shall be recieved for a sum of not less than Rs.1000/- in the multiples of ten. The minimum period of deposit and the interest rates shall be prescribed the Board subject to the directives of Reserve Bank of India from time to time.

Recurring Deposits

Our bank allows a person who undertakes to pay to the bank every month a fixed amount of Rs.50/- and above in multiples of Rs.5/- for a period of 12 months and above. Upon closure of the recurring deposit, the amount actually paid by the depositor together with interest on the amount of deposit actually made, calculated at the rate arrived at as per the directives from the reserve bank of india may be paid back to the depositor.

Current Deposits

Our bank allows any person or an Institution to open a Current account deposit with the bank. The minimum that a person or an Institution shall hold in the current account shall be Rs.50/-. No interest will be paid on current deposits. Every current account depositor will be supplied with a pass book free of cost.

Thrift Deposits

Every member shall subscribe to thrift deposit, so long as he continues to be a member of the bank at the rate of 5% of the minimum in his/her basic pay. (In order to avoid annual change in the amount of contribution due to increment, the minimum in the scale of pay of the member will be taken as basis). The interest for thrift deposits will be paid at the closure of financial year at the rates prescribed by the bank time to time.

Note : Rules and regulation for various deposits are applicable as per bye-law and as per the directives from Reserve Bank of India and Registrar of Cooperative Societies.

Interest rates for term deposits wef 01-12-2023 are tabulated below. Interest rates are subect to change from time to time as decided by the management of the bank. Please refer to bank/branch for current rates.

Personal loans (MTL, SPL and OTSPL)

Our bank provides different types of personal loans to the members for their personal and domestic needs. They are Surety loan, Special loan and One-Time special loan. All A-class members are eligible to avail these loans after completing one-year service in BHEL. For Surety loan and special loan any one or two other members should stand as surety for the member who avail the loan. No. of surety required for one-time special loan is One.

The maximum limit for loan amount for surety and special loan is Rs.10,00,000/- and Rs.8,00,000/- respectively and the max. no. of instalments for both the loans are 120 months.

The maximum limit for loan amount for One-Time special loan is Rs.1,00,000/- and the max. no. of instalments are 25 months.

5% of the loan amount shall be deducted towards share capital for the above loans.

Vehicle loans (VL)

Our bank provides vehicle loans for buying two wheeler or four wheelers which is limited to the A-class members only and we don’t provide vehicle loan for commercial purposes.

The max. loan amount for two wheelers is Rs.1,00,000/-, for four wheeler Rs.7,00,000/-. However, the amount equivalent to 85% of proforma invoice will be given as loan. Balance amount should be borne by the member.

We also provide vehicle loans for purchasing of second hand vehicles. The max. loan amount is based on number of years from the purchase date.

2.5% of the loan amount will be deducted towards share capital of the member.

Vehicle loan details for Two wheeler/ Four Wheeler for New / Old vehicles are tabulated below

Housing Loan (HL)

Our bank provides housing loan for the members for different purposes which are listed below

    Construction of new house

    Purchase of already built house (new or old)

    Extension of the existing construction

    Renovation in the existing house

    Take over housing loan from other banks or financial institution

The max. repayment period for housing loan is 240 months or the service period left whichever comes earlier.

2.5% of the loan amount will be deducted towards share capital.

 Purpose, max. loan amount and permissible loan amount for housing loan are tabulated below

Education loans (EDU)

This loan is limited to the members for higher education purpose for self and dependents, to acquire professional qualification through short time courses, to buy instruments to enhance the professional skills and knowledge.

The max. loan amount is restricted as listed below,

Rs.1,00,000/- for higher studies

Rs. 50,000/- for professional courses

Rs.1,00,000/- for buying instruments.

An amount equivalent to 5% of loan amount will be deducted towards share capital. No. of Sureties required for this loan is two.

The max. repayment period for this loan is 25 months.

Marriage loan (ML)

Our bank provides marriage loan to the members to meet out the expenses towards self-marriage, son or daughter’s marriage. This loan requires single surety. 5% of the loan amount will be deducted towards share capital.

The max. ceiling limit for loan amount is Rs.1,00,000/- and the max. repayment period is 25 months.

Jewel loan (JL)

Loans on the security of gold jewels will be given to the members as well as non-members. The max. loan limit for this loan shall be fixed at time to time based on the directions from RBI and Registrar of Cooperative Societies.

These loans may be given on the security of solid gold jewels belonging to the borrower and the value of such articles shall be estimated by the appraiser and accepted by the board of directors.

These loans shall be repaid before the date of expiry of 12 months from the date of issue of loans. If the loan is not fully cleared before the expiry of 12 months, besides the actual interest, penal interest at 2% p.a. on the outstanding loan balance shall be levied.

The max. loan amount a member can avail for this loan is Rs.15,00,000/-. For non-members the maximum loan amount is Rs.5,00,000/-

Deposit Loans

Loan Against Term Deposits

Members can avail the loan against their term deposits. A max. of 85% of the deposit amount shall be given as loan against term deposit. The interest rate for this loan is 1% over and above the interest rate paid by the bank for that particular deposit.

The repayment period for this loan is same as the period for which the deposit is made.

Thrift Deposit loan (TDL)

Thrift loans are granted to the members based on their Thrift deposit accumulated against their thrift deposit account. A maximum of 85% of the amount accumulated as thrift deposit shall be given as loan. Members can avail any one of the loans in surety loan or thrift  deposit loan i.e., a member who availed surety loan cannot avail thrift loan and vice versa.

The max. repayment period for this loan is same as surety loan i.e., 120 months.

The rate of interest for this loan is 1% over and above the interest paid by the bank for thrift deposits

Various services we provide through our branches are tabulated below

*✔ - Loan applications recieved by the branches will be processed by the head office.

We also provide the following services to the members and customers

Disbursing monthly salary and other payments from BHEL.

Cheque clearing

Inward/Outward NEFT/RTGS Services

ECS credits and Debits from NPCI

To view the charges for various services offered by the bank... click here...