Deposit
Saving Deposit
Rate of Interest
4.00% P.A
Minimum Balance in SB A/C
Rs. 500/-
Fixed Deposit
6 Months to 1 year
5.75% P.A
1 year to 2 years
6.25% P.A.
2 years to 3 years
6.50% P.A.
Minimum Deposit : Rs.1000/- and thereafter in multiples of Rs.1000/- Half yearly interest will be credited to Saving Account
Dhanlaxmi Deposit
Minimum Deposit : Rs.1000/- and thereafter in multiples of Rs.1000/- Half yearly interest will be credited to Saving Account
Period (Months)
12
24
36
Maturity Amount Rs,
1064
1138
1213
Term Deposit Receipts are required to be renewed within one month from the date of their maturity. In the event of the Term Deposit Receipt being presented for renewal after one month from the date of its maturity, the said Term Deposit Receipt can be renewed only with effect from the said presentation date on the terms and conditions prevailing on that date. The Deposit shall earn interest at the savings bank account rate for the intervening period.
If the Term Deposit Receipt is not renewed, the said deposit shall earn interest @ saving bank account rate only after completion of one month from the original maturity date till the date the said Receipt is presented in Society office.
This change is effective from 15 March 2023.
Recurring Deposit
Minimum monthly instalment Rs. 500/- and thereafter in multiples of Rs. 500/- can be recovered from Salary. Maturity amount will be credited to Saving Account after one month from the date of receipt of last instalment or on due date, whichever is later. Rs. 500/- invested monthly will mature after the period as indicated below :
Period (Months)
12
24
36
Maturity Amount Rs,
6206
12843
19912
While the first instalment of Recurring Deposit can be through Cash/Saving Bank Account, the subsequent instalments shall compulsorily be through salary.
