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Features & Benefits
Eligibility
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This is a recurring/cumulative deposit scheme open to all members.
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Depositors must be members of our society.
Deposit Terms
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Number of Monthly Installments: 63 months
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Minimum Monthly Deposit: ₹600/-
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Maximum Monthly Deposit: ₹6,000/-
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Monthly deposits must be in multiples of ₹600 only. Fractional amounts are not allowed.
Maturity & Payment Conditions
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The declared maturity value will be provided only after completion of the 63-month term, provided all installments are paid regularly and on time.
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No penalties will be charged for non-payment or delayed payment of monthly installments; however, the maturity value may vary in such cases.
Premature Closure
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Premature closure of the deposit is permitted, with the following penalties:
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If the deposit is closed before 3 years: Penalty of 2.5% on the applicable interest rate.
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If the deposit is closed after 3 years: Penalty of 2.5% on the contractual interest rate.
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Loan Facility
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Loans can be availed up to 90% of the face value or accumulated value of the deposit (excluding interest).
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Interest on such loans will be charged at a rate 2% higher than the applicable deposit interest rate.
Sr.No | Monthly Installment | Total Deposit | Interest | Maturity Amount |
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1 | ₹ 600/- | ₹ 37,800/- | ₹ 12,200/- | ₹ 50,000/- |
2 | ₹ 1,200/- | ₹ 75,600/- | ₹ 24,400/- | ₹ 1,00,000/- |
3 | ₹ 1,800/- | ₹ 1,13,400/- | ₹ 36,600/- | ₹ 1,50,000/- |
4 | ₹ 2,400/- | ₹ 1,51,200/- | ₹ 48,800/- | ₹ 2,00,000/- |
5 | ₹ 3,000/- | ₹ 1,89,000/- | ₹ 61,000/- | ₹ 2,50,000/- |
6 | ₹ 3,600/- | ₹ 2,26,800/- | ₹ 73,200/- | ₹ 3,00,000/- |
7 | ₹ 4,200/- | ₹ 2,64,600/- | ₹ 85,400/- | ₹ 3,50,000/- |
8 | ₹ 4,800/- | ₹ 3,02,400/- | ₹ 97,600/- | ₹ 4,00,000/- |
9 | ₹ 5,400/- | ₹ 3,40,200/- | ₹ 1,09,800/- | ₹ 4,50,000/- |
10 | ₹ 6,000/- | ₹ 3,78,000/- | ₹ 1,22,800/- | ₹ 5,00,000/- |