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Scheme Detail

• This is a recurring/cumulative deposit scheme open to all members.
• Depositors must be members of our society.
• Number of Monthly Installments: 63 Months.
• Minimum amount of Deposit shall be Rs. 600/-
• The maximum monthly deposit amount accepted under the scheme is Rs. 6,000/-.
• Monthly deposits must be in multiples of Rs. 600/-. No fractional amounts are allowed.
• The declared maturity value will be received after completing the 63-month term, provided all monthly installments have been paid regularly and on time.
• No penalties will be charged for nonpayment or delayed payment of monthly installments, but maturity amounts may vary due to such delays.
• Premature closure of the deposit is allowed with a penalty of 2.5% on the applicable rate of interest if the period is less than 3 years and with a penalty of 2.5% on the contractual rate if the period is more than 3 years.
• Loans can be granted up to 90% of the face value/accumulated value of deposits (excluding interest) at a rate of interest 2% higher than the applicable rate.