Fixed Deposit (FD)

By depositing a fixed sum for a fixed period, any member can open a fixed deposit account. Interest rate of this deposit is calculated on prevailing rates as fixed by the Registrar of co-operative societies.

ELIGIBILITY

Individual, Joint (not more than 4), a Guardian on behalf of a minor, Association or any other Institution

PERIOD OF DEPOSIT

Minimum 15 days and Maximum 120 months

INTEREST RATE

Depending upon the period of the deposit as prevailing from time to time.

PERIODICITY OF INTEREST PAYMENT

Interest of the deposit amount is given monthly to the depositors in ( as per depositor's choice)

SPECIAL RATE FOR SENIOR CITIZEN

Additional  interest rate of 0.50% is given to all senior citizens, irrespective of the size of the deposit over & above the rate offered for General Public. . In case of death of the Senior Citizen before the date of maturity, the deposit may be continued with the contracted interest rate only if there is no change to the other contracted terms.

NOMINATION FACILITY

Available

LOAN FACILITY

Available up to 90% of the

PENALTY FOR PREMATURE CLOSURE

A penalty of 1.00% will be levied for premature closure of the deposit.

APPLICATION & DOCUMENTS

• Application in the Banks’ prescribed form.
• Copy of PAN Card / Form 60 or 61 (if customer does not have PAN Card).
• Photograph of Depositor/s (2 copies).
• Proof of  Identity and address as per KYC Norms.

Recurring Deposit (RD)

One can deposit a specified amount ie. Multiples of 100/- monthly for 12, 24, 36, 60 months. On completion of the fixed period the amount deposited with interest accrued thereon will be refunded.

Cash Certificate

This is an attractive deposit scheme, A growth oriented scheme with high returns which is beneficial to all sorts of customers. By depositing a fixed sum for a fixed period.
Quarterly compounding of Interest is the attraction of the deposit.