FAQs
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Who can be a Member of AG’s Bank?
An Official of the IA & AD serving in Bangalore / Karnataka, who has completed one year of continuous service, is eligible to become a member.
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What are the documents to be produced for becoming a Member?
Appointment Order and proof of address has to be submitted along with the application for membership.
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How many shares have to be purchased initially which becoming a member?
Only One Share has to be purchased while applying for membership.
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Who is a Nominal Member or What happens to the Membership on retirement from Service?
Any member who has retired from Office or has taken voluntary Retirement from service is eligible to become a Nominal Member.
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What are the Benefits of becoming a Member?
Member holds the voting power. A member can avail Personal Loan, Short Term Loan, Housing Loan, Education Loan, etc., also the member will be exempted from TDS dedications.
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On partial repayment towards loan account will there be any change in the deduction?
On partial payment towards the loan in case of
- EMI loans the deduction amount remains the same the number of installments gets reduced
- Non-EMI Loans the installment amount remains the same, interest part gets reduced resulting in reduction if Deduction Amount.
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Is there any additional charge for pre closure of Loan?
No we don’t charge any foreclosure charges.
