About Surakshitham

IIA Surakshitham Scheme is a benevolent scheme proposed by ABS for its members. It is purely based on brotherhood. ABS will give Rs.15,00,000/- to the nominee of a deceased member within 7 days of the unfortunate death. This amount will be collected equally from the existing live members, excluding paid up members, of the Society

As we have just starting, the first goal is fixed as 100 members and the death compensation will be Rs. 5,00,000/-. It will be raised to Rs. 10,00,000/- on achieving 200 members and Rs. 15,00,000/- on achieving 300 members.

If the membership increase more than 300 the individual contributions will be reduced proportionally.

Any member of ABS can join IIA Surakshitham Scheme by paying an admission fee of Rs.1,000/-x the age of the member on the day of application. This fund is non-refundable in normal cases. If a member decides to withdraw from the scheme the admission fee will refunded in full deducting arrears, if any.

A member desired to join IIA Surakshitham scheme can opt for any of the three schemes listed below a) Lump Sum payment b) Equal monthly Installments (Minimum Rs.2,500/- per month) c) ABS guaranteed low interest rate hassle free loan from your nearest Dhanlaxmi Bank Branch.

There will be no age limit for admission to the scheme.

A member completed 25 years in the scheme without arrears will be considered as paid up member and need not pay further contributions.

A paid up member shall opt for retirement from the scheme with all the scheme benefits. The amount shall be withdrawn in full or part as decided by the executive committee.