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Parama

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RECURRING DEPOSIT

AIl payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its authorized signatory payments by any mode or media other than 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 subject to clearance by the bank. Out station cheques shall not be accepted

Recurring Deposit Scheme

RD AMOUNT OF 100
Scheme Name Tenure Rate of Interest Accumulat Amount Maturity Interest Benefit
RD-1 12 7.5 1200 1250 50
RD-2 24 7.75 2400 2600 200
RD-3 36 8 3600 4050 450
RD-4 48 8.25 4800 5595 795
RD-5 60 8.5 6000 7250 1250

Tenure of Payment:-
The tenure of tile account is 12 months and above.

Mode of Payment:-
AIl payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its authorized signatory payments by any mode or media other than 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 subject to clearance by the bank. Out station cheques shall not be accepted

lssue of Passbook:-­

A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the pass book updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.

Terms & Conditions:-

  • It is mandatory to be a member in the company.
  • Company will issue one shares (10/- Rs each) for RD Plan.
  • Interest will be calculated on yearly basis.
  • Recurring Deposit minimum amount Rs 10/-, thereafter in multiples of Rs 100/­
  • 1 Month after paying last instalment or maturity amount due date whichever is more will be applicable for payment of maturity amount.
  • Irregular deposits are not entitled for Fore-Closure payment and loan facility against it.
  • On irregular deposits if all irregular pending deposits are paid then such account will be treated as regular. Even if there is default in payment of 1 instalment, the said account will be treated as irregular.
  • After maturity date, payment on irregular accounts will be made after deducting the penalty amount maximum to the limit of interest earned on such account. No deductions will be made on principle amount of such accounts.
  • R.D. will not be premature within first 3 month.
  • If R.D. is matured after 3 month but before 6 month no interest will be paid.
  • After depositing the premium of 6 months, any type of interest will not be given.
  • If any person premature it’s FD/RD the person will get the interest of saving a/c interest.
  • In case of death of a depositor, the company will repay to nominee or beneficiary the principal & interest, at which it was accepted.

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