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Monthly Income Scheme |
Terms & Conditions
- Minimum deposit of Rs.10000/-and Next in multiple of Rs.5000/-
- Every Monthly interest scheme required saving account because monthly interest is transfer to saving account.
- Period of monthly interest scheme is 1 years to 10 years.
- Rate of interest is calculated on normal base.
- No pre-maturity before tenure.
- Secured loan facility available after 6 months from the date of deposit.
- Maximum secured loan up to 60% of the total deposit amount.
- Rate of interest will be 2.00% monthly compound on secured loan amount.
- If pre-mature before tenure extra interest will be deduct from the principal amount.
- No TDS applicable on interest paid as per rules of society Act -2002.
| S. No. |
Duration |
Deposit Amount |
| Interest Rate % |
Pay Amount |
| 1 |
1 Years |
10000 |
10.50 |
87.50 |
| 2 |
2 Years |
10000 |
11.00 |
91.70 |
| 3 |
3 & 4 Years |
10000 |
11.50 |
96.00 |
| 4 |
5 & 6 Years |
10000 |
12.00 |
100 |
Payment Pre-Maturity
| UP TO 24 MONTHS |
Not allowed |
| Above 3 Years Plan: |
After 3 year, one can go for premature payment facility. In this case the Calculation of interest on premature payment will be applicable as per saving a/c’s rate of interest and already paid interest amount will be deducted from the principal amount |
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