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.