Deposits

Our Society provides 4 types deposit options to its members.

Compulsory Deposit

As the name suggests this deposit is mandatory for all members of the society. At least Rs.1,500 (Max. Rs.2,000) is deducted from the members every month. At the end of the financial year interest is credited to the members account.The current interest rate is 5.00% p.a. . No withdrawal is allowed from this head. A member can withdraw the entire amount in this deposit when he resigns from the society

Savings Deposit

This is an optional deposit scheme for the members. Members can opt for deduction on this head every month. In this head also interest is credited at the end of the financial year.The current interest rate is 3.00% p.a.. A member can withdraw from this head as and when he wishes.

Fixed Deposit

Members can open fixed deposits at the society. The minimum amount of FDR will be Rs.10,000/- and Maximum limit is Rs. 7,00,000/-. The current interest rate is 6.50% p.a. for a period of six months and 7.00 % p.a. for a period of 1 year

Recurring Deposit

Recurring Deposit accounts can be opened for a minimum Rs.5,000/- p.m. 5000 p.m. to a maximum Rs.15,000 p.m. A member can choose the tenure of RD from 12, 24 and 36 months. The installment of the RD will be deducted in the recovery amount. The current interest rate is 7.00% p.a.

Note

Per Day Transaction for Cash Withdrawal Rs. 10,000.00/Day/Person

Deposit Rs. 20,000.00/Day/Person