APSRTC CCS - BASIC INFORMATION
Andhra Pradesh State Road Transport Corporation Employees’ Thrift & Credit Co-operative Society Ltd., was established on 5th
April, 1952 with an objective to help the Member and not to fall prey to the Private money Lenders.
The Society which had in the beginning 2,558 Shareholders, Share Capital of about Rs. 60,000/-, Thrift of Rs. 71,700/- and five
employees, became the biggest and the best run cooperative in the State with 98,310 Shareholders and Thrift more than Rs.
Members and Thrift: All the regular employees of the Corporation are entitled to become Members of the Society. Every
Member shall have only one share of Rs. 300/-.
Dividend is Credited to the members MRDF A/c.
Every Member immediately after joining the Society starts contributing towards Thrift (MRDF) @ 6% of his Basic Pay, rounded
off to the nearest Ten Rupees. Compound Interest @ 10% per annum is provided on these accumulations. The Thrift
accumulations are payable to the Members at the time of Retirement or closure of the account.
Short Term Loans: Members are eligible for Short Term Loans on completion of One (1) year regular service in the Corporation
and One (1) months membership in the Society.
A minimum amount equal to seven (7) months Basic Pay will be granted as Short Term Loan till completion of four (4) years
membership subject to satisfying other conditions.
After completion of four (4) years membership, the loan will be granted taking into consideration the length of service completed
in the Corporation. At present 100% of the Basic Pay is being considered for sanction of loans.
The Short Term Loan is granted subject to a maximum of Rs.2,00,000/-. However, the Members whose MRDF balance exceeds
Rs.50,000/- can draw loan to the extent of 1.75 times of his Thrift subject to other conditions.
However, if the gross loan amount exceeds Rs. 60,000/- a Member shall have in MRDF Account at least 40% of the amount of
loan granted. The short fall amount of the req