Bokaro: Members of the Mills Zone Cooperative Credit Society of SAIL’s Bokaro Steel Plant (BSL) will now be eligible for loans of up to Rs 10 lakh, while the society has fixed a 6.15% dividend on members’ deposited share money. The new provisions will come into effect from 1st October 2026, and are expected to benefit around 1,300 BSL officers and employees.
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The loan will be available to members at an interest rate of 5.5%. The decision was taken at the annual general meeting of the cooperative credit society, with its executive members and chairman Arun Kumar, who is also BSL Chief General Manager (Quality), taking part in the decision making process. The higher loan limit is expected to help employees meet expenses related to children’s education, marriage and house construction.
Members to Get 6.15% Dividend
The cooperative society has fixed a 6.15% annual dividend on the share money deposited by its members. According to the society, this is the highest dividend rate offered so far. The dividend amount will be credited to members’ bank accounts by 1st October 2026.
Members who have deposited Rs 90,000 as share money will receive Rs 5,535 as dividend. Those with Rs 80,000 deposited will get Rs 4,920, while members with Rs 70,000 will receive Rs 4,305. The dividend for members with Rs 60,000 and Rs 50,000 in share money will be Rs 3,690 and Rs 3,075, respectively. The payments will be made by the Mills Zone Cooperative Credit Society directly to the members’ bank accounts.
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