Deposit

Saving Deposit (S.D):

Rate of Interest: 4%

These accounts are designed to help the individuals (personal customer) to inculcate the habit of saving money and meet their future requirement. Amount can be deposited / withdrawn from these accounts by way of withdrawal slips. It helps the customers to keep minimum cash at home besides earning interest.

These accounts can be opened by eligible persons and certain organizations / agencies (as approved by the Reserve Bank of India {RBI}). As required by law, while opening Saving account, the Co-operative will satisfy itself about the identity including verification of address, of a personal seeking to open an account, to assist in protecting the prospective customers, members of the public and ourselves against fraud and other misuses in the field of Co-operative

The prospective account holder should comply with the Know Your Customer (KYC) norms producing one or more of the following documents in support of identity and address.

Current Account (C.A):

The Current Account is meant to make the day to day transactions easier to the current account holder. There will be no restriction on number of transactions during a year or like that unlike in Saving account.

Hence they collect maintenance charges in the form of service charges No interest is paid whatever the balance kept in current account since it is meant for drawing by the account holder at any time. (While opening current account firm letter, seal and signature is compulsory of the proprietor)

Documents required for opening a Current Account:
•Certificate of Incorporation.
•Registration and Licenses issued by the concerned authorities.
•GST Registration Certificate, TIN, VAT.
•PAN Card
•Proof of address for business.
•Existing bank account statements.
•KYC(Know Your Customer) of proprietor/designated partners.
•A resolution showing that the Designated Partner is authorized to be signatory.
•Memorandum and Article of association (Bye-law)copy.

Recurring Deposit (R.D):

Rate of Interest: 8.00%

Recurring Deposit is a special kind of Term Deposit offered by our Co-operative in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits. This deposit matures on a specific date in the future along with all the deposits made every month. Thus, Recurring Deposit schemes allow customers with an opportunity to build up their savings through regular monthly deposits of fixed sum over a fixed period of time.

Bumper Recurring Plans:

• Lakpati Scheme
  Deposit Rs.2750/- monthly till 36 months & get Rs.1,12,172/- + Rs.1,000/- Bonus on maturity.
• Bhavishya Nidhi Scheme
  Deposit Rs.1250/- monthly till 36 months & get Rs.50,988/- + Rs.500/- Bonus on maturity.
• Bala Bhavishya Nidhi Scheme
  Deposit Rs.600/- for every 60 months & get Rs.45,509/- on maturity.
• Kalyan Nidhi Plan:
  Invest Rs.1200/- monthly till 120 months & earn Rs.2,20,339/- on maturity.
• Child Future Education Plan:
  Invest Rs.750/- monthly till 120 months & earn Rs.1,37,712/- on maturity.

Note 1: This can be invested in multiples to earn more & more.
Note 2: In the above mentioned schemes the maturity amount includes principle + Interest amount. If any RD instalment is due then penal will be chargeable.

Fixed Deposit (F.D):

A fixed deposit is a financial instrument provided by our Co-operative which provides investors with a higher rate of interest than a regular savings account, until the given maturity date.

Note:

• For Senior citizens and Special category 0.5% (half) extra, Applicable only for above 1 year , excluding investment of 555 Days, 999 days & 5 Years.
• Special interest rates offered for the reserved categories: Widows, Physically Challenged, Religious Institutions (Churches, Temples, Mosque etc.), Armed Force personals, Ex-servicemen, family members of the Martyrs of Indian Nation, Policemen & Retired Policemen of State.

*(Essential Documents must be submitted)

Pigmy Deposit (P.D):

Money can be deposited into an account on daily basis. The amount may be as small sum. It can be said as a recurring deposit scheme, but money is put almost daily. The unique characteristic of this scheme is that an agent from respective Co-operative collects money to be deposited on daily basis, from door steps of account holder of the scheme.

Rate of Interest:

Above 1 year & below 3 year	3%
3 years & above	4%

The pigmy amount is collected on Daily and weekly Basis.

Monthly Income Scheme (MIS):

Rate of interest:It is one of the Fixed Deposit scheme and by investing in this scheme we get fixed interest every month. But the Principle amount must be kept for fixed term of 3 years and every month the customers gets a fixed interest amount i.e 8.00% Int. monthly.This scheme helps to fulfill the monthly expenditures of customer like electricity Bill payment, telephone bill, Grocery, rent etc. [E.g: For Rs.1,20,000/- Monthly Interest Rs. 800/- (per month)]

Anjali Cash Certificate (A.C.C):

This is a most popular scheme in our Co-operative. The interest earned is on quarterly compound basis.Cash Certificate Deposit can be opened for a period of 99 months.i.e.Rs.1,00,000/- on maturity yields Rs.2,00,151/-.

Double your money in just 99 months.