Recurring Deposit Scheme (R.D.S)
  • The minimum denomination of the scheme is Rs.500/- per Month and in multiples of 500.
  • The company reserves the right to reject any application for opening the account without assigning any reason.
  • The company reserves the right to attach/transfer any account to any its branch.
Scheme Code Basic Amount (Rs.) Period Deposit Amount (Rs.) Rate of Interest (%p.a.) Maturity Amount (%p.a.)
Monthly Quarterly Half Yearly Yearly
23012 500 1500 3000 6000 12 Month 6000 10.00% 6320
23024 500 1500 3000 6000 24 Month 12000 10.50% 13337
23036 500 1500 3000 6000 36 Month 18000 11.00% 21228
23060 500 1500 3000 6000 60 Month 30000 11.50% 40052

Tenure of Payment
The tenure of the account is 12 months and above.

Mode Of Payment:-
All payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its authorized signatory payments by any mode or media other than mentioned above shall be at the member account holder’s own risk. The cheque/draft shall be credited in the name of member Account Holder subject to clearance by the bank. Out station cheques shall not be accepted.

Issue Passbook:-

A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the pass book updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.

Terms & Conditions:-

  • Interest will be calculated on yearly basis.
  • Recurring Deposit minimum amount Rs 100/-, thereafter in multiples of Rs 100/-
  • Loan on deposits will be charged at 18% yearly compound interest basis.
  • Lapse on payment of installment amount will make the defaulter pay Rs 2 per 100 per month with installment amount.
  • 1 month after paying last installment or maturity amount due date whichever is more will be applicable for payment of maturity amount.
  • Irregular deposits are not entitled for pre mature payment and loan facility against it.
  • On irregular deposits if all irregular pending deposits are paid then such account will be treated as regular. Even if there is default in payment of 1 installment, the said account will be treated as irregular.
  • After maturity date, payment on irregular accounts will be made after deducting the penalty amount maximum to the limit of interest earned on such account. No deductions will be made on principle amount of such accounts.