IIT (Mumbai) Employees Co-Operative Credit Society Ltd.
(REG.NO.BOM/RSR/759 of March 1976)
Ground Floor, Nandan Nilekani Main Building, IIT Bombay, Powai, Mumbai - 400 076.
आयआयटी (मुंबई) पगारदार कामगारांची सहकारी पतपेढी
(नोंदणी क्र. बीओएम/आर.एस.आर/७५९ - मार्च १९७६)
तळ मजला, नंदन निलेकणी मुख्य भवन, आई आई टी मुंबई, पवई, मुंबई - ४०० ०७६
Regular membership: Any permanent employee can become a member of IITB Credit society.
Monthly subscription is ₹1,000/- (₹ One Thousand Only) (Minimum). A regular member is eligible for dividend, loan, gift and other benefits.
Nominal Membership : Currently, retired staff members can become nominal members for the purpose of investment in Fixed deposit.
We are in process of allowing temporary employees (On contract, on a scale for a minimum period of three years) to be a nominal member. We will give an update very soon.
1. Medium Term Loan - 10.75%
2. Emergency Loan - 10.75%
3. Educational Loan (for class I-XII) - 10.50%
4. Educational Loan (for Degree courses BE/BTech/MBBS/LLB etc.) - 10.50%
Retirement benefit : After retirement Society give ₹10,000.00 (₹ Ten Thousand only) to the member of IIT (Mumbai) Employees Co-operative Credit Society Ltd.
Educational help to the member of IIT (Mumbai) Employees Co-operative Credit Society Ltd. and their children's between ₹1500 to ₹2300.
Help to Graduation Exam
(% Marks Obtained in board/University Exam - Amount of Help)
A. 85% and Above - ₹2300 (₹ Two Thousand Three Hundred Only)
B. 75% to 84.99% - ₹2200 (₹ Two Thousand Two Hundred Only)
C. 65% to 74.99% - ₹2100 (₹ Two Thousand One Hundred Only)
D. 60% to 64.99% - ₹2000 (₹ Two Thousand Only)
Help to 12th Standard (HSC) Exam
(% Marks Obtained in board/University Exam - Amount of Help)
A. 85% and Above - ₹2000 (₹ Two Thousand Only)
B. 75% to 84.99% - ₹1900 (₹ One Thousand Nine Hundred Only)
C. 65% to 74.99% - ₹1800 (₹ One Thousand Eight Hundred Only)
D. 60% to 64.99% - ₹1700 (₹ One Thousand Seven Hundred Only)
Help to 10th Standard (SSC) Exam
(% Marks Obtained in board/University Exam - Amount of Help)
A. 85% and Above - ₹1800 (₹ One Thousand Eight Hundred Only)
B. 75% to 84.99% - ₹1700 (₹ One Thousand Seven Hundred Only)
C. 65% to 74.99% - ₹1600 (₹ One Thousand Six Hundred Only)
D. 60% to 64.99% - ₹1500 (₹ One Thousand Five Hundred Only)
Medical help of ₹3,000.00 (₹ Three Thousand only) is granted to the eligible society members.
After verification of Required Papers (with SMOs approval).
