Standard Terms for loans

  • The temple board has authorized it's secretary to sign and give a promissory note with the above requested terms and deliver it to you simultaneously at the time of receipt of your check for the amount of your pledge.
  • All loans must be for $5,000 or more. If you prefer to loan a lower amount, Please discuss with the chairman or secretary of the temple board.
  • Repayment of the loan will start after 3 years from the date of primissory note. However, the temple reserves the right to prepay any amount of the loan without penalty at any time prior to it's due date.
  • Temple reserves the right to submit unpaid part of your pledge to a bank if Necessary.
  • Temple reserves the right to reject any loan.
  • If you receive any interest on the loan, that interest amount could become income to you. Temple has to report all the interest amounts it paid to IRS. Please consult your tax advisor on your tax consequences of this loan and its interest. Your tax liability, if any, would be your responsibility. All checks must be payable to Sri Ranganatha Seva Samithi, Inc.

BENEFITS:

Any individual or family who loans a minimum of $10,000 interest free for a period of 5 years or more and a cash contribution of $116 will become a life member (please refer to life membership and their benefits flyer for complete details). All fully paid life members can vote and elect the temple board and participate in the temple activities. As a life member you may be eligible to a number of discounts which will be explained to you from time to time. Our full time priest can come to your home and perform Pooja in your home for a reasonable donation to the temple. Please call temple secretary for full details.

If you have any further questions regarding loans, please contact one of the board of trustees.