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.
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 Program | ||||
|---|---|---|---|---|
| Incidents | Compensation Benefit | Evidence | ||
| Loan Balance | Fund (MMK) | |||
| Death* (Except suicide / drugs abuse) | Borrower | 100% Write-off | 100,000 | Death Certificate |
| Co-borrower | Not Applicable | 50,000 | ||
| 100% Disability | Total & Permanent Disability for Borrower | 100% Write-off | 100,000 | Hospital Papers |
| Partial & Permanent Disability for Borrower | 50% Write-off | 50,000 | ||
| Co-borrower | Not Applicable | |||
| Childbirth Delivery | Borrower | Not Applicable | 50,000 | Birth Certificate & Local Authorithy Recommendation |
| Co-borrower ( will be applicable only for husband & wife relationship) | Not Applicable | 50,000 | Birth Certificate & Local Authorithy Recommendation | |