Apply for Surety Loan
By clicking on 'Submit', I hereby authorise the following:
- I authorise the Society to make all searches necessary in this respect and that all costs and expenses incurred thereby be charged to my account
- I authorise the Society to credit the amount of loan granted into my above mentioned bank account.
- If I leave my serices I authorise my employer to settle the loan from my salary or any money due to me.
- I agree to a bid by all By-Laws of the Society in relation to this loan.
I hereby authorise the Head of my Department to deduct (SUM) monthly on account of principal with interest at 6% per annum on the principal outstanding from the month of payment onwards till the loan is repaid. I offer two sureties for the loan as appended below.
We the undersigned hereby jointly and severally agree that if the said borrower fails to repay the said loan or any installment thereof with the interest due hereon in the manner noted above we will on demand jointly or severally pay the said loan or installment thereof as the case may be to the said Society. Further we hereby jointly and severally agree that if we fail to discharge the said loan or any installment thereof together with the interest due upon it the Committee may proceed to recover the amount due by us by deduction from our salary in manner prescribed by the recovery of loans, etc under the By Laws.