4. The Employees’ Co-operative Thrift Society
The Nayagarh College Teachers’ Co-operative Thrift Society of the college, with a capital of Eighty lakhs, sanctions loans to the members of the teaching staff. The maximum amount of loan to teaching staff is Rs. 2 lakh. The rate of interest for loan is 9.5% simple interest on reduced balance and that for deposit it is 5.5% compounding on every pay date subject to a minimum of 30 days. Any bonafide member is eligible to avail the loan facility. Members also avail the opportunity of getting consumer durable items through the society.