Social Welfare Program

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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

INCIDENTS COMPENSATION BENEFIT EVIDENCE
Write-off on Loan Balance Fund (MMK)
Death (Except sucide/drugs abuse) Borrower 100% Write-Off 50,000 Death Certificate
Disability Total and Permanent Disability for Borrower 100% Write-off 50,000 Medical Certificate from Physician (or) Medical Superintendent
Partial and Permanent Disability for Borrower 50% Write-off 50,000
Childbirth Delivery Borrower Not Applicable 50,000 Childbirth 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.