2

DEED OF AGREE MENT (M .T. NON AGRIL LOAN - INDIVIDUAL)

THIS DEED OF AGREEMENT made ----------------------day of -----------------------

20------------------

BETWEEN

VIDYASAGAR CENTRAL CO-OPERATIVE BANK LTD. MIDNAPUR, a Co-operative Society

registered
under the West Bengal Co-operative Societies Act, 2006 and Rules, 2011 framed
thereunder having its
registered office at Chhotobazar, P.O: Midnapur, Dist.: Paschim Medinipur Pin:
721101 in the
State of West Bengal represented by its Branch Manager -------------------------
Branch, P.O. ---------
-------------------Dist: Purba / Paschim Midnapur / Jhargram, Pin ����.
(Hereinafter called the BANK of
the ----------------------------------------------------FIRSTPART)

AND

Mr./
Ms---------------------------------------------------------------------------------
------------------------------------
S/o./W/o./Mr./
Ms.--------------------------------------------------------------------------------
----------------------

Vill------------------------------------------------
P.O-----------------------------------------------------
P.S.-------------------------------
District-Purba/PaschimMedinipur/ Jhargram Pin --------------- by faith
------------- by profession------------------------
aged-----------years, being a nominal member hereinafter called the BORROWER which
expression unless
repugnant to the context shall include his/her heirs, assigns, administrator/s and
executor/s of the -------------------
----------------------------------------------------------SECOND PART.

WHEREAS the BORROWER OF THE SECOND PART has prayed for Term Loan of
`----------------------------
(Rupees----------------------------------------------------------------------------
---)only to the BANK of the 1st part for the
purpose of ----------------------------------------------------and the Bank has
agreed to grant/sanction the term loan of `-
--------------------------
(Rupees---------------------------------------------------------------------)only
through its
--------------------branch vide Loan case No.---------------dated---------------for
the above
mentioned purpose under certain terms and condition :

Now it is hereby agreed BY AND BETWEEN TIIE PARTIES AS FOLLOWS:-

1. That the BANK will accommodate the Borrower with the Term Loan of
`----------------------
(Rupees----------------------------------------------------------------------------
----) only for execution of
necessary papers/ documents as required by the Bank
2. That the Borrower shall repay the term loan to the Bank within
-------------------years/
months in ------------- equated installments along with the accrued interest.

Cont. page - 3
3

3. That the borrower shall pay interest @---------------%P.A. The interest will be
calculated on
daily basis. The Bank reserves right to amend the rate of interest at any time
during
continuance of loan and the borrower shall have to pay interest on such amended
rate, if
required. In case of default 2% additional interest be charged on the defaulted
amount
from the date of default.
4. The monthly installment of loan will be repaid by the borrower within 3(Three)
days
from the date of disbursement of his/her Salary or the 7th day of the respective
month
which comes earlier.
5. That in case of default of any installment by the Borrower the concerned D.D.O.
(S)/
Employer will exercise the power conferred upon him under section 59 of the West
Bengal
Co-op. societies Act, 2006 for recovery of the installment/s due by the borrower by

deducting the same from salary or wages and retiring gratuity or death gratuity
payable to
his/her until full satisfaction of the debt/loan or other demand of the bank as per
this
agreement.
6. That the borrower shall pay requisite nominal membership fees and contribution
to C.G.S. as
per rules of the Bank.
7. That the Bank will inform the concerned D.D.O. of the borrower by a letter
registered with AD that
the loan of `--------------------------
(Rupees--------------------------------------------------------------------------)
only has been disbursed to the concerned borrower
on---------------------------------which will be
repayable within ----------------- months in ------------ Equated installments of
`--------------
.Besides above, the Bank will have the authority to take legal action against the
borrower in
case of default of any installment (s) for recovery of the said loan by way of
attachment and sale of
the movable and immovable properties of the borrower as per appropriate provision
of the
West Bengal Co-operative Societies Act, 2006.
8. That this DEED OF AGREEMENT will remain valid till the loan is repaid in full by
the
borrower of the Bank
9. That this agreement will also continue to remain valid in respect of any amount
of loan that
would be sanctioned in future on the request or the borrower by the Bank till the
entire
outstanding loan is repaid in full.
l 0. That all documents executed by the borrower/s to secure the loan shall
continue to be operative
and valid till full repayment of outstanding loan including enhanced limit, if any.

11. That all other terms & conditions stipulated vide H.O. Memo. No. Loan/
-------------------------------

Dated---------------will be followed by both the parties.

Contd. Page - 4
4

IN WITNESSETH WHERE OF the parties hereto have put their signature being fully
conversant with the terms
& conditions contents of this agreement on the day, month & year first above
written.

---------------------------------------------------------------------------

(Full Signature of the borrower)

For & on behalf of Vidyasagar Central Co-operative Bank Ltd.,

Midnapore

----------------------------------------------------------------------------

Branch Manager

------------------------------------Branch

Witness:-

(a)
-----------------------------------------------------------------------------------
-

S/W/D/O----------------------------------------------------------
Vill-----------------------------------Post-------------------------

Pin--------------------------------------Dist- Purba/Paschim Midnapur/Jhargram

(b)
-----------------------------------------------------------------------------------
-

S/W/D/O-------------------------------------------------------
Vill-----------------------------------Post----------------------------

Pin---------------------------Dist- Purba/Paschim Midnapur/Jhargram

(c)
-----------------------------------------------------------------------------------
-
 S/W/D/O-------------------------------------------------------
Vill-----------------------------------Post-------------------------------

Pin-----------------------------------------------------Dist- Purba/Paschim
Midnapur/Jhargram