Deposits

Our Society provides 4 types of deposit options to its members.

Compulsory Deposit

As the name suggests this deposit is mandatory for all members of the society. A fixed amount 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. Compulsory Deposit deduction per month fixed amount. Steel Grade : Rs. 1600/- N.S.Grade and TSDPL : Rs. 1400/- JCAPCPL Grade : Rs. 1100/- At present interest @ 5.25% p.a. is provided in this deposit

Note: Compulsory Deposit deduction per month : (Fixed amount) will be increased from March 2024 recovery.

From 01.04.2024

Steel Grade ………………………Rs.1500/- Rs.1,600/-

N.S.Grade and TSPDL………… ..Rs.1300/- Rs.1,400/-

JCAPCPL……………………….. Rs.1000/- Rs.1,100/-

Fixed Deposit

Members can open fixed deposits at the society. The current interest rate is 7.00% p.a. for a period of 1 year w.e.f :01-09-2024.

Savings Account

Saving Deposit accounts can be opened by a member. Member can deposit and withdraw from this account as and when he wishes.Members can make deposit through monthly recovery also in this account. At present interest @ 5.00% p.a. is provided in this deposit

Recurring Deposit

Recurring Deposit accounts can be opened by a member.

For One Year @ 6.00% P.A. w.e.f :01-10-2023

For Two Years @ 6.25% P.A. w.e.f :01-10-2023

For Three Years @ 6.50% P.A. w.e.f :01-10-2023

Shares

Every member has to buy shares of the society. Price of each share is Rs.10. Shares against each type of Loan has to be purchased.

Limits of each type of Shares is as follows

Ordinary Loan Share : 21000/-

Emergency Loan Share : 11000/-

Personal Loan Share : 33000/-

REVISED RULES FOR CHARITY FUND OF THE SOCIETY : For to facilitate more to members : ;

i) @Rs.50/- per member will be deducted every year (As Existing) .

ii) At the time of New Membership, Charity Fund amount @ Rs.50/- will be deducted compulsorily.

iii) Sick members will be sanctioned, after completion of one month Rs.1,200/- per month, Fractional days of Sickness 15 days and above will be counted one month.

iv) For Death Benefit Payment deduction @Rs.150/- per member and staff to be continued.

v) Funeral Expense Rs.6000/- each (As Existing)

This is to inform all the members of the society, to update your Mobile No., E.Mail I.D. and Bank Account No. with State Bank Of India and other bank along with IFSC code, in the society office and avail the facilities offered to members of the society through SMS / E.MAIL SERVICES / MONEY TRANSFER.