Deposit Scheme
Daily Deposit Scheme is a monetary deposit scheme introduced to help daily wage earners, small traders, to inculcate saving habits and also as a way of funding their bigger capital requirements. In this scheme money can be deposited into an account on daily basis. The amount may be as small as Rupees ten. The unique characteristic of this scheme is that an agent from the bank collects money to be deposited, on daily basis, from doorsteps of account holder.
DAILY DEPOSITS (ON INVESTMENT OF RS.100/- PER DAY)
| TENURE | RATE OF INTEREST | TOTAL DEPOSITS AMOUNT | MATURITY AMOUNT |
|---|---|---|---|
| 360 DAY | 11.00% | 36000 | 38019 |
| 720 DAY | 11.00% | 72000 | 80395 |
| 1080 DAY | 11.00% | 108000 | 127626 |
| 1440 DAY | 11.00% | 144000 | 180269 |
| 1800 DAY | 11.00% | 180000 | 238943 |
TERM & CONDITIONS:
1. Daily Deposit account can be opend with minimum R.50/-further in multiply of Rs.10/-.
2.Interest will be calculatate daily product basis.
3. Loan against deposit is up to 75% of deposit amount.
4. Rate of interest on loan against Daily Deposit would be 7.5% higher the applicable rate of interest