CIRCULAR
(Ref. Board of Directors Meeting dated 4th January, 2017)
This is to inform our Members and other concerned that the Interest Rates of the following Deposit Schemes of the Society shall stand revised as follows:
Revised Interest Rates on Deposit Schemes shall be in force w.e.f. 05th January, 2017
(A) SAVINGS DEPOSIT SCHEME :–
Existing: @ 5% p.a.(No Change) 
(B) TERM DEPOSIT SCHEMES:-
| TYPE OF TERM DEPOSITS | |||
| FIXED DEPOSIT (GENERAL) | RE-INVESTMENT DEPOSIT (R D S) | MONTHLY INCOME SCHEME (FD- MIS) | |
| MINIMUM DEPOSIT (Rs) | 1,000.00 | 2,000.00 | 50,000.00 |
| MINIMUM PERIOD | 46 days | 2 (Two) Years | 2 (Two) Years |
| Period of Deposit | Existing | Revised |
| (a) 46 Days to 90 Days | 7.25 % p.a. | 7.25 % p.a. |
| (b) 91 Days to 179 Days | 7.75 % p.a. | 7.75 % p.a. |
| (c) 180 Days to 364 Days | 8.25 % p.a. | 8.00 % p.a. |
| (d) 1 Year & above Upto 2 Years | 8.85 % p.a. | 8.25 % p.a. |
| (e) Above 2 Years upto 4 Years | 8.25 % p.a. | 7.75 % p.a. |
| (f) Greater than 4 Years upto 5 Years | 8.00 % p.a. | 7.50 % p.a. |
Maturity Value of Re-Investment Deposit Scheme (R D S) on Minimum Deposit of Rs. 2,000.00
| PERIOD | RATE OF INTEREST (P.A.) | MATURITY VALUE (Rs.) | ANNUALISED YIELD |
| 2 Years | 8.25 % | 2,355.00 | 8.8750% |
| 3 Years | 7.75 % | 2,518.00 | 8.6333% |
| 4 Years | 7.75 % | 2,719.00 | 8.9875% |
| 5 Years | 7.50 % | 2,900.00 | 9.0000% |
Note :
(A) In case of Re – Investment Deposit Scheme (R D S) Interest shall be compounded Quarterly and payable on Maturity along with Principal. However, in case of premature encashment interest shall be calculated at a simple rate as per Fixed Deposit (General) Scheme.
(B) 0.50 Penal Interest shall be charged at the time of premature encashment in respect of all types of Fixed Deposits as mentioned above.
(C) RECURRING DEPOSIT SCHEME : Minimum Deposit – Rs.200.00 (Per Month)
| PERIOD OF DEPOSIT | EXISTING | REVISED |
| 12 Months | 8.85 % p.a | 8.25 % p.a |
| 24 Months | 8.85 % p.a. | 8.25 % p.a. |
| 36 Months | 8.25 % p.a | 7.75 % p.a. |
| 48 Months | 8.25 % p.a. | 7.75 % p.a. |
| 60 Months | 8.00 % p.a. | 7.50 % p.a. |
Maturity Value Of Recurring Deposit for Minimum Deposit Of Rs. 200.00 per month.
| PERIOD | RATE OF INTEREST (P.A.) | MATURITY VALUE (Rs.) |
| 12 Months | 8.25 % p.a | 2,509.00 |
| 24 Months | 8.25 % p.a. | 5,232.00 |
| 36 Months | 7.75 % p.a. | 8,122.00 |
| 48 Months | 7.75 % p.a. | 11,273.00 |
| 60 Months | 7.50 % p.a. | 14,578.00 |
✱ 0.50 Penal Interest shall be charged at the time of premature encashment in respect of Recurring Deposits as mentioned above.
(D)SENIOR MEMBER DEPOSIT SCHEME(MONTHLY INCOME PLAN)(FOR SENIOR MEMBERS ONLY)
| PERIOD OF DEPOSIT | INTEREST RATES | ||
|---|---|---|---|
| EXISTING | REVISED | ||
| 2 YEARS | 9.10 % p.a. | 8.50 % p.a. | |
(I) In case of premature encashment interest shall be calculated at a simple rate as per Fixed Deposit (General) Scheme.
(II) 0.50% Penal Interest Shall be charged at the time of premature encashment in respect of Senior Members’ Deposit Scheme as mentioned above.
(III) Maximum investment in Senior Member Deposit Scheme enhanced to Rs. 10,00,000.00 from 5,00,000.00 and compulsory Fixed Deposit Investment amount will be @40.00 % of the deposit amount invested in Senior Member Deposit Scheme.
(IV) In case of investment in “Senior Member Deposit Scheme” “Four Times of Members’ Credit with the Society” stands withdrawn with immediate effect.
(E) Revision of interest rates on Thrift Fund and Guarantee Fund:
(With effect from financial year 2016-2017)
.
| EXISTING | REVISED | |
| 1) Thrift Fund: | 8.00% p.a. | 7.50% p.a. |
| 2) Guarantee Fund: | 8.00% p.a. | 7.50% p.a |