RECURRING DEPOSIT

Fixed Monthly Investments are made regularly for certain period chosen and Interest is paid along with Total Monthly Deposit after a certain period.

Recurring Deposit Scheme which gives annualized return of 8.4% to 8.55 % p.a

Recurring Deposits

PERIOD 1 Year 2 Years 3 Years
FOR MONTHLY DEPOSIT OF RS.100/- (8.4%) 1255 (8.4%) 2610 (8.55%) 4075

Key Features of Re-investment Deposit

◉ Respective interest rates according to the given period in the above table for both FD & CD Schemes are same.

◉ 3 months – No Foreclosure will be allowed as per Nidhi Regulations.

◉ Before expiry of 6 months No Interests will be paid as per Nidhi Regulations.

◉ If the foreclosure is done before ONE Year, but after 6 Months then, 5% ROI is applicable.

◉ Foreclosure charges – Deduction of 2% from the agreed interest.

◉ Min Period – 6 Months.

◉ Max Period – 5 Years.

◉ Loan Against Deposit (LAD) is available. 3% additional interest will be charged from agreed ROI.

◉ Monthly/Quarterly interest will be credited directly to the SD account, further can be transferred to Member’s other bank accounts based on standing instruction.

◉ PAN is mandatory. TDS deduction is applicable as per the instructions given by GOI.

Recurring Deposits Eligibility

◉ Must be a share holder, holding 10 shares of Rs. 10/- each.

◉ All Transactions with members only.

Documents Required

◉ Address proof (Aadhar).

◉ ID proof (PAN).

◉ Bank Account Details.

◉ Others.

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