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Features & Benefits
Interest Rate 10% p.a. (Simple Interest)
Minimum Investment Rs. 10,000/-
Term of Deposit 21 Months
Additional interest rate 0.50% for Senior Citizen
Scheme Details
- Ganadheesh Deposit Scheme is a festive term deposit scheme launched by Lokmanya Multipurpose Co-op Society Ltd. on the auspicious occasion of Foundation Day and Ganesh Festival.
- The scheme is effective from 31st August 2026.
- The offer is available for a limited period and closes on 31st October 2026.
- Fixed deposit tenure: 21 months.
- Offers an attractive interest rate of 10% per annum on a simple interest basis.
- Interest is payable quarterly.
- Minimum investment amount: ₹10,000/-.
- No maximum limit on the deposit amount.
- Senior citizens and bulk depositors investing ₹10 lakhs or above in a single receipt are eligible for an additional 0.50% interest benefit.
- Only one additional benefit can be availed — either the Senior Citizen benefit or the Bulk Deposit benefit.
- Maximum effective interest rate: 10.50% per annum.
- Additional interest benefit for Lokmanya employees and their spouses is applicable as per the relevant scheme rules.
- Premature withdrawal is permitted, subject to a 2.5% per annum penalty on the applicable rate for the completed period.
- Loan facility is available up to 90% of the deposit amount.
- Loan interest rate: 2% higher than the applicable deposit interest rate.