Deposits

Our Society provides 3 types deposit options to its members.

Compulsory Deposit

As the name suggests this deposit is mandatory for all members of the society. At least Rs.1,000 is deducted from the members every month. At the end of the financial year interest is credited to the members account. No withdrawal is allowed from this head. A member can withdraw the entire amount in this deposit when he resigns from the society

Fixed Deposit

Members can open fixed deposits at the society. The minimum amount of FDR will be Rs.10,000/- and Maximum limit is Rs. 3,00,0000/-. The current interest rate is 0.50 % higher than the rate of J.S. Co-op Bank Ltd. for a period of six months and 1.00 % higher than the rate of J.S. Co-op Bank Ltd. for a period of 1 year

Recurring Deposit

Recurring Deposit accounts can be opened for a minimum Rs.5,000/- p.m. 5000 p.m. to a maximum Rs.15,000 p.m. A member can choose the tenure of RD from 12, 24 and 36 months. The installment of the RD will be deducted in the recovery amount.Interest rate is same as of that interest payable by the J.S. Co-op Bank Ltd.