APSRTC CCS Loan Information: Eligibility & Apply Online

APSRTC CCS Loan (Andhra Pradesh Road Transport Corporation Cooperative Credit Society) is a loan scheme for employees, under which employees can avail of loans up to Rs 5 lakh at an interest rate starting from 12% per annum with a flexible tenure of 5 years.         

You are an employee and member of APSRTC CCS, you can apply for this loan. Here, we will explain APSRTC CCS Loan Eligibility Information, Features, and Charges.

APSRTC CCS Loan Information

Article Topic	APSRTC CCS Loan Scheme Information
Interest Rate	Competitive interest rate starting from 12% p.m.
Loan Amount	Up to 5 Lakhs
Tenure Time	Up to 5 Years

The APSRTC CCS Loan is also known as the Cooperative Credit Society Loan, as it is managed by the APSRTC Employees Cooperative Credit Society Ltd, registered society under the Andhra Pradesh Cooperative Societies Act, 1964.

The main objective of the APSRTC CCS Loan is to provide financial assistance to APSRTC employees for various purposes, such as education, marriage, medical, housing, vehicle, etc., which can be enjoyed along with other facilities like APSRTC Employees Provident Fund and gratuity pension, medical reimbursement, etc.

Features & Benefits of APSRTC CCS Loan

The ASPRTC CCS loan facility can quickly meet your financial needs. Below, we have listed some of the benefits of this loan that will motivate you to apply for the Andhra Pradesh State Transport Corporation (APSRTC CCS) loan.

Interest Rate: APSRTC will determine the interest rate charged on CCS loans and inform the employees. The rate varies depending on the prevailing market conditions and internal policies.

Loan Amount: The loan amount offered under the CCS scheme will depend on factors such as the purpose of the loan, income, repayment capacity and other internal guidelines of APSRTC.

Repayment: The loan amount is usually repaid monthly over a specified period. The repayment period and instalment amount may vary depending on the loan and the employee’s salary.

Purpose: The CCS Loan Scheme was designed to provide financial assistance to APSRTC employees for various personal needs such as education, housing, medical expenses, vehicle purchase, etc.

Employee Benefits: The CCS Loan Scheme was offered by APSRTC to its employees to help them meet their financial requirements without resorting to external borrowing options with high interest rates.

Disadvantages of APSRTC CCS Loan Scheme:

Limited to Employees: The CCS Loan Scheme is generally available only to APSRTC employees. Individuals who are not associated with APSRTC may not be eligible for this loan option.

Repayment Obligation: Taking a loan means a commitment to make regular payments. Employees must ensure a steady income to meet their repayment obligations without creating financial stress.

Dependency on Employment: Since loan repayment is deducted from the employee’s salary, any change in employment status, such as resignation or termination of service, may affect the repayment process. In such situations, it is necessary to consider the potential impact on loan repayment.

Limited loan amount: The loan amount provided under the CCS scheme may be subject to certain limits depending on factors such as income, repayment capacity and APSRTC’s internal guidelines. This means that the loan amount may not meet all financial requirements.

Possible penalties: Failure to repay the loan on time or any default in payment may result in fines or additional charges, which may increase the total cost of the loan.

APSRTC CCS Loan Eligibility Criteria

• APSRTC CCS Loan Scheme was generally available to the employees of APSRTC, such as permanent, temporary, and retired employees.
• Loan eligibility is subject to a minimum service period requirement of 10 years, which the employees complete before becoming eligible for a CCS loan.
• Applicants are generally required to have a satisfactory conduct record during their employment with APSRTC. Any disciplinary issue or misconduct may affect the eligibility for the loan.
• Employees who have taken any previous loans from APSRTC or other financial institutions are generally required to repay those loans before becoming eligible for a CCS loan. Outstanding loan obligations affect eligibility.
• Employees who want to apply for the APSRTC CCS loan usually need to avail salary deduction facility with APSRTC. That means the loan payment will be deducted directly from the employee’s salary.

Documents Required for APSRTC CCS Loan

If you want to take a CCS loan, then you will need some necessary documents, whose list is given below:

• Pension statement of the employee.
• PAN Card
• Identity proof
• Address proof
• Details of bank account
• Employee details
• Any additional documents

How to apply for an APSRTC CCS loan?

If you are interested in APSRTC CCS Loan, which is a credit scheme for Andhra Pradesh State Road Transport Corporation employees. If you want to apply for a loan or check its status, then here we will give you some important information.

To be eligible for an APSRTC CCS loan, you must be a regular employee of APSRTC with a minimum service period of 5 years.

• First of all, you go to the APSRTC website or mobile app.
• Click on the apply link and download the application form PDF.
• Open the downloaded form and fill in all your details correctly. You have to fill in all the personal and employment details.
• Attach the required documents and submit the application form to the concerned authority.

APSRTC CCS Loan Status

You can check your loan application status by logging into the APSRTC website with your employee number and password and clicking on the ‘Loan Status’ option.

You can also contact the APSRTC office for any queries or issues related to your loan.

FAQ Related to APSRTC CCS Loan