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FEATURES & BENEFITS

Easy Investment, Great Returns!

Recurring Deposit Scheme

Rate Of Interest up to 9.75% p.a.

Minimum monthly installments - Rs.2400/- and its multiples.

No. of monthly Installments - 18, 24 & 36 months resp

SCHEME DETAILS

  • This is a recurring/ cumulative deposit scheme and is open to all members.
  • The depositor shall compulsorily be a member of our society. 
  • The term of the monthly deposit will be 18 months for Plan A, 24 months for Plan B and  36 months for Plan C.
  • Minimum amount of monthly deposit shall be Rs. 5200/- ( Plan A), Rs.3800/- (Plan  B) and Rs.2400/- (Plan C). 
  • The account can be opened with a minimum monthly deposit amount prescribed in the Scheme A, B and C. The amount of installment and number of installment cannot be  changed after opening the account.
  • The maximum amount of deposit that shall be accepted to open an account under  the scheme is Rs. 52,000/- (Plan A), 38,000/- (Plan B) and Rs.24,000/- (Plan C).
  •  One will get the declared/ prescribed maturity value only after completion of prescribed terms as per opted plan, provided all monthly installments have been paid within due date, on regular basis without fail.
  • Senior Citizens are not entitled to any additional interest benefit under this scheme.
  •  No penalty will be charged on nonpayment/ delay in payment of monthly installments; however, the maturity amount may vary due to such nonpayment /  delayed payment. Further, in case of a delayed payment of installment, maturity proceeds will be paid only after 30 days / one month from the date of deposit of the last installment.
  • Pre-matured closure of deposit is allowed, with a penalty of 2.5% on the applicable rate of interest of a regular recurring deposit scheme.
  • Loan can be granted upto 90% of face value/accumulated value of deposits  (excluding interest). The rate of interest for loan against said deposit is @2% more  than the applicable rate. 

Plan A  

No. of monthly installments:  18 Months

Amount of monthly deposit:  Rs.5200/- and in its multiples.

Effective rate of interest:@8.75%p.a

Maturity Value  :Rs.1,00,000/-

Plan B  

No. of monthly installments:  24 Months

Amount of monthly deposit:  Rs.3800/- and in its multiples.

Effective rate of interest:@9.25%p.a

Maturity Value  :Rs.1,00,000/-

Plan C 

No. of monthly installments:  36 Months

Amount of monthly deposit:  Rs.2400/- and in its multiples.

Effective rate of interest:@9.75%p.a

Maturity Value  :Rs.1,00,000/-