Deposits

Fixed Deposits

Period Rate for A Class Members Rate for B & C Class Members
15 days to 45 days 5.25% 5.25%
46 days to 90 days 6.25% 5.75%
91 days to 180 days 6.75% 6.25%
181 days to 364 days 7.25% 6.75%
1 year 7.75% 7.50%

Fixed deposits for A,B,C Class Members.

  • 1A fixed deposit of a fixed amount of money for a fixed period of time, No fixed deposit shall be received for a sum less than Rs.1,000/- = or for a period less than 15 days. Interest on deposits from members shall be fixed by the Board of Directors from time to time but the rate of interest payable shall in no case exceed the rate fixed by Govt.
  • 2The interest in the fixed deposits shall cease on the expiry of the period for which the deposit was made unless notice in writing of the intention to renew the deposit for a further period of not less than 7 days has been received in the Office of the Society . However in the event of non receipt of such a notice, this deposit shall be renewed automatically as the prevailing interest rate and period.