Schemes

RECURRING DEPOSITS (RD)

The Recurring deposit account is an account in the bank where an investor deposits a fixed amount of money every month for a fixed tenure.
Recurring deposit account is opened by those who want to save regularly for a certain period of time and earn a higher interest rate.
Recurring deposit scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after some years.
A minimum RD would be of Rs.500 and further in multiple of Rs.500.
Interest calculation shall be on monthly basis compounding.
The tenure of the account 12 months and above.
Earn high rate of interest on your savings.
Quick and hassle free service at door-step to all members.
Minimum lock-in period and pre-closure charges.

Pigmy Deposit is a daily Savings Scheme. Customer can Open Pigmy A/c with minimum of Rs.50/- per day.
Customers can open Pigmy A/c for 1,2 or 3 years. Interest rates are applicable to Pigmy deposits (urlof interest rates on deposits)
Guardian can open Minor’s Pigmy A/c. When minor turn major then after providing valid age proof he/she can withdraw the amount with his/her signature.
We offer nomination facility for all deposit accounts.

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
Upto 180 Days – No Interests will be paid as per Nidhi Regulations
Min Period – 181 Days
Max Period – 5 Years
Loan Against Deposit (LAD) is available. 2% additional interest will be charged from agreed ROI
Monthly 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
Foreclosure charges – Deduction of 2% from the agreed interest %
If the foreclosure is done before ONE Year, but after 181 days then, 5% ROI is applicable