Benefit The Depositer
Function Of Credit
Maruti Credit Co-operative Society Ltd. is credit co-operative society registered under Co-operative Society Act 2002 (Our registration number is 2237/S/2016.
Maruti Credit Co-operative Society Ltd. follows guidelines of Credit Co-operative Society Act 2002 governed by Central Registrar.
Maruti Credit Co-operative Society Ltd. is committed towards giving better returns on deposits as compared to other investments to its members while ensuring that funds are safe and each depositor gets his money (with interest) back the same day on maturity .
MarutiCredit Co-operative Society Ltd. is committed to create hundreds of jobs besides creating thousands of self-employment opportunities in the country and thus for raising the social and financial status of its members.
Maruti Credit Co-operative Society Ltd. is professionally managed by experts who have vast experience in the field of Co-operative, Banking and Finance.
The funds collected under various deposits are invested as secured & micro loans only, thus ensuring safety of funds and interests of Maruti members.
Maruti Credit Co-operative Society Ltd. is exempted to pay income tax as per the Income tax act 1961 section 80P (which is close to 35% on other financial entities) on its interest income by lending to the members. This saves huge amount of money which enables us to pay higher rate of interest.
Maruti Credit Co-operative Society Ltd. is not required to maintain CRR and SLR (Close to 30% of Deposits, which is mandatory for banks and which produces no or very little return for banks). Hence we have extra amount of money to lend which generates more income for society.
We as a society, work on a very low cost model at its branches and offices which results into huge savings per branch.
There are many more such things which results into better profits and return on investment for Maruti. These benefits are transferred to our members in shape of higher returns on their deposits.