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Recurring Deposit

Open an account for fixed deposit keep a track of the recurring transactions avail of a loan against your account without more. Did you know? A Fixed Deposit (FD) can also be flexible as a benefit , just like Fixed Assets.

Scheme (F.D.)

  • Attractive rate of interest 10% to above on half yearly compound rate of interest.
  • Facility of withdrawal after 12 month without any penalty.
  • Credit facility after 12 month up to 90%.
  • Fixed deposit term to 6 month, 12month, 24month, 36month, and 60month.
  • Minimum entry age 1 year and maximum 65 year.
  • You can avail of fixed deposit of a minimum deposit amount of Rs-1000 and maximum no limit.
  • Avail of a loan facility up to 90% of principal and accrued interest, safe custody of your FD receipts and automatic renewal of deposit account on completion of tenure.

TERMS & CONDITIONS

ACCOUNT OPENING:

  • The minimum denomination of the Fixed Deposit is Rs. 1000/- , and in multiples of Rs. 1000/-.
  • The company reserves the right to reject any application for opening The Account withdrawing as ignorg any Reason.
  • The company reserves the right to attach/transfer any Account to any of its branch office /its F.E. branch office.

TENURE OF ACCOUNT

  • The tenure of the account is 12,months.to 60 months.

MODE OF PAYMENT

  • All payments to the company shall be made either in cash or by Cheque/Draft against the receipt counter signed by its authorized signatory. payment by any mode or media other that 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’s subject to clearance by the Bank Outstation cheques Shall not be accepted.

SECURED LOAN

  • The member may avail 50% of Face value of Fixed after 12 month 75% after 24 month and 90% after 48 month of Fixed deposit amount as secured loan against the face value of Fixed deposit amount the Member account holder will have to submit an application of availing loan facility which will we paid within 25 days from the date of the application . interest @ 1.50 % per month ( monthly compounded) will be charged on the loan amount .