Social Welfare Program

Social Welfare Program

All loan customers are mandatory required to participate in social welfare program. Membership shall be granted to the customers immediately after they contribute funds to the program. All members of the program shall contribute 0.5% of loan disbursement amount per year at the time of disbursement . No partial contribution shall be accepted. The customer who have membership in this program shall have privilege as following:

Social Welfare Benefits and Applied Criteria

IncidentsCompensation BenefitEvidence
Write-Off on Loan BalanceFund
(MMK)
Death*
(Except suicide/
drugs abuse)
Borrower100% Write-off50,000Death
Certificate
DisabilityTotal and Permanent
Disability for Borrower
100% Write-off50,000Medical Certificate from Physician (or) Medical Superintendent
Partial and Permanent
Disability for Borrower
50% Write-off
Childbirth
Delivery
BorrowerNot applicable50,000Childbirth
Certificate

The tenure of program membership shall be exactly as the loan tenure and the membership shall be expired if the client does not continue their loan into new cycle after closing or maturing the existing loan.