With Daily deposit scheme, you can save daily a very small amount of money in our daily deposit scheme. This scheme is featured by a daily saving plan. In this scheme an investor can save minimum of 10/- or plus on daily basis. We have authorized agents or field associate to collect amount from investors from their resident or their business places on daily basis. And will make entry in the passbook. Investor’s passbook will be examined every month at their nearest branch. Investors are assured of risks against fraud.
• Who can open Daily Deposit account:
- A single Member adult or two Member adults jointly.
- A guardian on behalf of a minor or a person of unsound mind.
• Where can be opened:
- Walk-in to Branch office or with the help of Field Associates.
• Tenure of Monthly Income Scheme:
- 3 Months / 6 Montsh / 12 Months / 24 Months / 60 Months
• Deposit Limit:
- Minimum: Single or Jointly – Rs.50
- Maximum: No Limit
• Defaults in Payments:
- Grace period of paying premium is 7 days.
- The delay payments will be liable for 2% penal fees. Accounts can be regularized after paying the penal fee.
• Renewal Facility:
- Renewal facility provides the continuation of Daily Deposit scheme after maturity in that you have an option to increase the tenure and can avail prevailing interest of that time. Wherein you get the higher rate of interest benefits.
• Passbook In Monthly Income Scheme:
- Depositor is provided with a pass book with entries of the deposited amount and other particulars duly stamped by the Branch Office..
• Interest & Repayment on Maturity:
- On maturity of the accounts the Amount repayable inclusive of Interest, with interest less penal charges (if applicable).
• Nomination Facility:
- The depositor may at the time of opening the account under these rules, nominate a person or persons who, in the event of death of the depositor, shall become entitled to payment due on the account.
• Income Tax Relief under Fixed Deposit Scheme:
- No TDS deduction on Interest earned.