Enquire More

Scheme Detail

Eligibility

• This is a recurring/cumulative deposit scheme open to all members.

• Depositors must be members of our society.

Deposit Plans and Terms

• The term of monthly deposits is as follows:

  • Plan A: 18 months

  • Plan B: 24 months

  • Plan C: 36 months

• Minimum monthly deposit amounts:

  • Plan A: ₹5,200/-

  • Plan B: ₹3,800/-

  • Plan C: ₹2,400/-

• Accounts can be opened with the minimum monthly deposit amount specified under each respective plan.

• The installment amount and the number of installments cannot be changed after opening the account.

• Maximum deposit amounts for opening an account under each plan:

  • Plan A: ₹52,000/-

  • Plan B: ₹38,000/-

  • Plan C: ₹24,000/-

Maturity & Interest

• The declared/prescribed maturity value will be provided only after successful completion of the full term of the selected plan, with all monthly installments paid on time.

• Senior Citizens are not eligible for any additional interest benefits under this scheme.

Payment Delays & Penalty

• No penalty will be charged for non-payment or delayed payment of monthly installments.

• However, the maturity amount may vary due to such delays.

• In case of delayed installments, maturity proceeds will be paid only after 30 days (one month) from the date of deposit of the last installment.

Premature Closure

• Premature closure of the deposit is allowed with a penalty of 2.5% on the applicable rate of interest (as per the regular recurring deposit scheme).

Loan Facility

• Loans can be granted up to 90% of the face value/accumulated value of the deposit (excluding interest).

• The interest rate for loans against such deposits will be 2% higher than the applicable deposit interest rate.