Recurring Deposit Scheme

RD PLAN 12 & 24 MONTHS

RECURRING DEPOSIT PLANS RD 1 YEAR 9% RD 2 YEAR 9.5%
Sr. No MLY QLY HALF YLY YLY PLAN  AMT. MATURITY PLAN AMT. MATURITY
1 100 298 590 1160 1160 1258 2320 2641
2 200 596 1182 2325 2325 2516 4650 5283
3 300 894 1773 3492 3492 3773 6984 7924
4 400 1192 2364 4656 4656 5030 9312 10566
5 500 1490 2955 5820 5820 6288 11640 13207
6 600 1788 3546 6984 6984 7546 13969 15849
7 700 2086 4137 8148 8148 8804 16296 18491
8 800 2384 4728 3912 9312 10061 18624 21132
9 900 2682 5319 10476 10476 11319 20952 23774
10 1000 2980 5910 11640 11640 12577 23280 26415
11 1500 4479 8900 17630 17630 18865 35260 39623
12 2000 5977 11890 23620 23620 25154 47240 52831
13 5000 14075 29850 59500 59500 62886 119000 132078
 

RD PLAN 36 & 48 MONTHS

RECURRING DEPOSIT PLANS RD 3 YEAR 10% RD 4 YEAR 10.5%
Sr. No MLY QLY HALF YLY YLY PLAN  AMT. MATURITY PLAN AMT. MATURITY
1 100 298 590 1160 3480 4184 4640 5924
2 200 596 1182 2325 6975 8368 9300 11849
3 300 894 1773 3492 10476 12552 13968 17773
4 400 1192 2364 4656 13968 16736 18635 23698
5 500 1490 2955 5820 17460 20920 23281 29622
6 600 1788 3546 6984 20952 25104 27936 35547
7 700 2086 4137 8148 24444 29288 32592 41471
8 800 2384 4728 3912 27936 33472 37248 47396
9 900 2682 5319 10476 31428 37656 41904 52320
10 1000 2980 5910 11640 34920 41840 46560 59245
11 1500 4479 8900 17630 52890 62760 70520 88867
12 2000 5977 11890 23620 70860 83680 94480 118490
13 5000 14075 29850 59500 178500 209200 238000 296226
 

RD PLAN 60 MONTHS

RECURRING DEPOSIT PLANS RD 5 YEAR 11%
Sr. No MLY QLY HALF YLY YLY PLAN  AMT. MATURITY
1 100 298 590 1160 5800 8010
2 200 596 1182 2325 11625 16020
3 300 894 1773 3492 17460 24031
4 400 1192 2364 4656 23280 32041
5 500 1490 2955 5820 29100 40052
6 600 1788 3546 6984 34920 48062
7 700 2086 4137 8148 40740 56072
8 800 2384 4728 3912 46560 64083
9 900 2682 5319 10476 52380 72093
10 1000 2980 5910 11640 58200 80103
11 1500 4479 8900 17630 88150 120155
12 2000 5977 11890 23620 118100 160207
13 5000 14075 29850 59500 297500 405019

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 of 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.

Loan facility on Recurring Deposits :

On 24 month and 36 month deposit schemes, after 1 year (after receiving of 12 installments) loan up to 60% of deposited amount will be given.
On 48 month and 60 month deposit schemes, after 1.5 years (after receiving of 18 installments) loan up to 60% of deposited amount will be given

Pre Mature Closure Of Deposits:-

Fore closure of Deposits will not be permitted until completion of 3 months From the date of Deposits. Deposits foreclosed after 3 months but before 6 months from the date of Deposits no Interest will be paid. Deposits foreclosed after 6 months, interest at 2% shall be deducted from the normal rate of Simple Interest for the period of Deposit.