‘Telephone : Ph : 2252 2201 Lansen & Tousno Grour EmpLovees’ Cooperative 2252 2437 ‘Tarr & Crepir Society Lyyrep TC-I, First Floor REGD, NO, MSCSICR-2792 L&T Construction Campus ‘Mount Poonamailee Road ‘n Reply Manapakkam, P.B. No. 979 ‘ease Quote Chennai - 600 089. Website : www.itempsoc.in E-mail: society@intece.com No.: SOC/ 002/2020-21 25" September 2020 CIRCULAR The Board of Directors are pleased to inform the members that Board have decided to change the interest rate on loans and deposits with effect from 01.10.2020. The details are as under: Rate of interest for Society Loan S.No | Society loan Existing Rate Revised Rate _| Effective Date 1_| Ordinary Loan 9.75% pa 9.25% pa 01.10.2020 Rate of interest on Deposits S.No Deposit Existing Rate Revised Rate _| Effective Date 1_| Fixed Deposit 7.50% p.a 7.25%p.a___| 01.10.2020 7.50% p.a 725%pa | 91402020 2 (Yield 7.71% p.a)_| _(Vield 7.45% p.a) 3_| Recurring Deposit | __7.50%p.a 7.25% pa 01.10.2020 4__| Thrift Deposit 7.50 %p.a 7.25%pa___| 01.10.2020 ‘As per Income Tax Act 1961, the interest income is taxable which is in the hands of the members. Hence, the tax applicable on the interest income received from the Society will not be exempted. Puy — S.P. Suresh Kumar Deputy Secretary