COMPULSORY DEPOSIT

Every person on becoming a member of the society, under the bye -laws shall contribute to the CD (200/- Per Month), CD may be deposited on or before 10th of every month.

Compulsory Deposit       200 per month       6.00 % p.a.

ORDINARY DEPOSIT

This deposit scheme provides the facilities to members to deposit and withdraw any amount any time as a saving account. The member whose criteria for deposit and withdrawal does not suit them in recurring or fixed deposit.

Ordinary Deposit       6.00 % p.a.

RECURRING DEPOSITS

It is an investment tool which allows people to make regular deposits and earn decent returns on investment.

• For a period of 12 months       15 % p.a.

• For a period of 24 months       15.5 % p.a.

• For a period of 36 months       16 % p.a.

• For a period of 48 months       16.5 % p.a.

• and above       16.5 % p.a.

NOTE :-
• The society does not make TDS on the interest paid or credited to its members as it is exempted under Income Tax Act.
• The Interest received by members from the society is taxable under Income Tax Act, if members’ total income exceeds the limit prescribed in the Income Tax Act.
• In case of prematurity payment of term deposit, interest shall be calculated and paid as per Optional Deposit A/c (Savings).
• Interest on Optional Deposit A/c is calculated on minimum balance in the account between 11th to last date of the month.