Loan Against FD: Anyone can avail loan up to 75% against fixed deposit. Interest on loan 1% above the rate on fixed deposit.
| Loan Against RD: Any depositor may avail loan upto 75% against their Recurring deposit.
Interest on loan 1% above the rate on recurring deposit. |
| Re-investment Plan Deposit "Netaji Vikash Patra" |
Eligibility: Only a member is eligible to open Re-investment Plan deposit A/c.
Money doubled just after 8 Yrs 9 months, i.e. invest Rs.1000 /- and after 8 Yrs 9 months get Rs.2000/-
Loan facility also available. |
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| Daily Deposit "Mahalaxmi Deposit" |
| The cooperative has engaged daily collection motivators for collection of daily deposits from door to door. For opening of accounts one has to become a member of the cooperative and can open a Mahalaxmi Deposit Account depositing a minimum amount of Rs.20/-. Thereafter daily deposit will be collected by the motivator through pigmy machine introduced by the cooperative.Therefore the customers will received their daily deposit balance in his/her account daily.There is a full proof system of internal check in the Cooperative for accurate maintenance of the deposit accounts.
Rate of Interest: Daily Deposit - 3% per annum.
Loan Against Daily Deposit: Anyone can avail loan up to 75% of the deposit balance as and when applied during business hour. Interest rate is @12% per annum. Daily deposit can be adjusted, on request to the loan accounts if any on monthly basis, to reduce the interest burden on the customer.
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| Savings Bank Deposit |
Eligibility: A member can open a saving bank account. For opening of the account two photographs, voter ID Card / PAN Card / Passport / Driving License / Telephone Bill / Electricity Bill (any two) are required along with one introducer known to the Cooperative. Minimum amount of deposit is Rs.100/-.
Cheque with clearing facility is available with a minimum balance of Rs.500/- within the members of the cooperative.
Rate of Interest: 3.5% P.A. |
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