Co-operative Housing Societies

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Co-operative Housing Societies

Union Co-operative Housing Societies Account offers seamless banking, easy transactions, and financial benefits tailored for housing societies.

  • cheque availibilty
  • penalty for nonmaintenance
Apply Now Terms & Conditions Apply

Details for Co-operative Housing Societies

Union Co-operative Housing Societies Account is designed to streamline financial management for housing societies. Enjoy hassle-free transactions, secure fund management, and exclusive banking benefits. With easy account operations, transparent dealings, and dedicated support, managing society funds becomes efficient and convenient.

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Interest Rate

3.55%

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Withdrawal Limit

Not available

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Transaction Limit

Not available

Minimum Balance Required

  • 1,00,000/-

Eligibility Criteria for Opening an Account

  • All registered Cooperative Housing Societies (CHS), Resident Welfare Associations (RWA), and AOAs who are eligible to open savings accounts can open SBCHS accounts.

Additional Benefits

  • Eligibility - All registered Cooperative Housing Societies (CHS), Resident Welfare Associations (RWA), and AOAs are eligible to open SBCHS accounts.
  • Cash Deposit/Collections - Enjoy nil charges for cash deposits up to 10 times the previous quarter's QAB maintained at base/non-base branches, over and above the free limit offered in regular savings accounts.
  • Cheque Book - 200 leaves per year free.
  • Demand Draft (DD) Commission - Get 5 free DDs per month, with nil charges for RTGS, NEFT, and IMPS transactions.
  • Ledger Folio Charges - Nil charges for maintaining ledger folios.
  • SMS Charges - Benefit from nil charges for SMS alerts on transactions.
  • Doorstep Banking - Enjoy the convenience of one free doorstep banking service per month, saving your time and effort.
  • Concessions in Loan Processing Charges - Get a 50% concession in processing charges for loans taken for purchasing solar lights, gen-sets, lifts, and other machinery used within the society.
  • Loan Concessions for Key Managerial Persons - Authorized signatories/key managerial persons such as the President, Chairperson, Treasurer, Secretary, etc., can avail concession of 50% in processing charges and 0.05% in rate of interest for Union Miles and Union Home Loans.
  • Loan Concessions for Society Flat/House Owners - Society flat/house owners can benefit from a 50% concession in processing charges for Union Miles, Union Home, and Union Education loans.
  • Payment Gateway - Access a payment gateway service with negotiable charges based on transaction volume, enabling seamless online transactions.
  • Internet Banking - Enjoy the convenience of Internet banking, providing easy access to account information and online transactions.
  • Salary Payment Solution and Credit Cards - Facilitate salary payments for staff members with a USSA account that offers inbuilt benefits. Staff members are also eligible for credit cards based on their eligibility criteria.

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