Social Welfare Program

Social Welfare Program

All loan customers are mandatory required to participate in social welfare program. Membership shall be granted to the customers immediately after they contribute funds to the program. All members of the program shall contribute 0.5% of loan disbursement amount per year at the time of disbursement . No partial contribution shall be accepted. The customer who have membership in this program shall have privilege as following:

Social Welfare Program
IncidentsCompensation BenefitEvidence
Loan BalanceFund (MMK)
Death* (Except suicide)Borrower100% Write-off100,000Death Certificate
Co-borrowerNot Applicable50,000
100% DisabilityTotal & Permanent Disability for Borrower100% Write-off100,000Hospital Papers
Partial & Permanent Disability for Borrower50% Write-off50,000
Co-borrower Not Applicable
Childbirth DeliveryBorrowerNot Applicable50,000Birth Certificate & Local Authorithy Recommendation
Co-borrower ( will be applicable only for husband & wife relationship)Not Applicable50,000Birth Certificate & Local Authorithy Recommendation

The tenure of program membership shall be exactly as the loan tenure and the membership shall be expired if the client does not continue their loan into new cycle after closing or maturing the existing loan.