Member Deposits

Deposit Schemes

Savings, term deposit, growth and monthly income schemes for members of the Society — with the terms, maturity values and premature-withdrawal rules printed in the Society's scheme booklet.

Before you read on. All deposit schemes are available to members of the Society only. Scheme terms, rates and maturity values are as printed in the Society's deposit scheme booklet and are subject to revision by the Society in accordance with its bye-laws and applicable rules. Please confirm the prevailing terms at the registered office before placing a deposit.

Savings

Savings for members

Savings Account

A member savings account with interest calculated on the daily balance and credited twice a year.

6% p.a.

Purpose: Everyday savings for members, with passbook facility and free SMS alerts.
Eligibility: Every member of the Society — in a single name, jointly with other members, or on behalf of a minor through the natural guardian.
Minimum deposit: Account opened with zero balance; a balance of ₹100 is to be maintained while transacting.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: Ongoing (no fixed term).
Interest / rate: 6% per annum on the daily balance, credited in September and March each year.
Maturity: Not applicable — funds remain available subject to the account rules.
Premature withdrawal rules: Not applicable. If an account is closed within six months of opening, no interest is generally paid.

Other important conditions

The member must visit the branch in person, complete the prescribed form, sign it and submit two recent passport-size photographs.
Signatures must match the specimen recorded on the membership application; the Society may withhold payment where signatures differ.
Cash transactions of less than ₹2 lakh per day are permitted; transactions of ₹2 lakh and above are made by account-payee cheque.
In a joint account, surviving holders have full rights to operate the account on the death of a holder.
For a minor's account the guardian records the minor's date of birth. Generally one account per person.
A passbook is issued and must be presented for every deposit and withdrawal; the Society is not responsible for loss caused by the holder's negligence.
Deposit slips are available free of charge.
Account information is kept confidential. The Society may transfer a member's balance towards any loan due to the Society from that member.
The account may be closed on written request; interest is paid up to the date of closure.

Facilities and charges

Item	Charge
New passbook on completion of the old one	Free
Replacement of a lost passbook	₹100
Entries for periods older than the previous year	₹20 per year or ₹20 per page, whichever is higher
SMS facility	Free

Recurring Deposit

A recurring deposit account referred to in the Society's scheme rules; full terms are available at the registered office.

Regular saving

Purpose: Regular periodic saving by members. The Monthly Income Scheme rules provide for MIS interest to be credited to a Recurring Deposit account.
Eligibility: Members of the Society.
Minimum deposit: Details available as per the applicable scheme rules.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: Details available as per the applicable scheme rules.
Interest / rate: Details available as per the applicable scheme rules.
Maturity: Details available as per the applicable scheme rules.
Premature withdrawal rules: Details available as per the applicable scheme rules.

Term deposits

Term deposits for members

STDR 2001

Short Term Deposit Receipt (STDR 2001)

A lump-sum deposit for a fixed period from one month to three years, with the maturity value fixed at the time of deposit.

1 month – 3 years

Purpose: For members who wish to place a lump sum for a fixed period and earn interest.
Eligibility: Members of the Society — single, joint or minor account (operated by the guardian).
Minimum deposit: ₹5,000, and thereafter in multiples of ₹100.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: 1 month, 3 months, 6 months, 1 year, 2 years or 3 years.
Interest / rate: 8% (1 month), 9% (3 months), 10% (6 months), 11% (1 year), 12.5% (2 years), 13% (3 years) — as per the scheme table.
Maturity: Maturity value per ₹1,00,000: ₹1,00,667 (1 month), ₹1,02,250 (3 months), ₹1,05,000 (6 months), ₹1,11,000 (1 year), ₹1,26,560 (2 years), ₹1,44,290 (3 years).
Premature withdrawal rules: Not permitted for the 1-, 3- and 6-month options. For the 1-year option, not within 6 months; thereafter 6% p.a. For the 2-year option, not within 12 months; thereafter 6% p.a. For the 3-year option, not within 18 months; thereafter 6% p.a.

Product code	Period	Interest	Maturity value on ₹1,00,000	Premature payment
2001-1M	1 month	8%	₹1,00,667	Not permitted
2001-3M	3 months	9%	₹1,02,250	Not permitted
2001-6M	6 months	10%	₹1,05,000	Not permitted
2001-12M	1 year	11%	₹1,11,000	Not within 6 months; thereafter 6% p.a.
2001-24M	2 years	12.5%	₹1,26,560	Not within 12 months; thereafter 6% p.a.
2001-36M	3 years	13%	₹1,44,290	Not within 18 months; thereafter 6% p.a.

Other important conditions

Product codes: 2001-1M, 2001-3M, 2001-6M, 2001-12M, 2001-24M and 2001-36M.
Maturity values are illustrated on a deposit of ₹1,00,000.

STDR 2002

Long Term Deposit (STDR 2002)

A ten-year lump-sum deposit for members planning for the long term.

10 years

Purpose: For members who wish to place a lump sum for a long period and earn interest.
Eligibility: Members of the Society — single, joint or minor account (operated by the guardian).
Minimum deposit: ₹5,000, and thereafter in multiples of ₹100.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: 10 years.
Interest / rate: 15% per annum, as per the scheme table.
Maturity: ₹4,04,560 on a deposit of ₹1,00,000.
Premature withdrawal rules: No premature payment up to 3 years. Between 3 years and 65 months, interest at 10% p.a.; after 65 months and before 10 years, interest at 12% p.a.

Other important conditions

Maturity value is illustrated on a deposit of ₹1,00,000.

STDR 2001-18M

Jumbo Term Deposit Scheme (18 months)

An eighteen-month term deposit with a fixed maturity value and no premature payment.

18 months

Purpose: A short, fixed-tenure deposit for members with a known maturity value.
Eligibility: Members of the Society.
Minimum deposit: ₹5,000, and thereafter in multiples of ₹1,000.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: 18 months.
Interest / rate: As per the fixed maturity value below (rate not separately printed).
Maturity: ₹1,20,000 on a deposit of ₹1,00,000, payable after 18 months.
Premature withdrawal rules: No premature payment is available under this scheme.

Growth schemes

Growth schemes for members

TDR 2005

Jumbo Samriddhi Yojana (TDR 2005)

A growth deposit under which the amount deposited becomes two-and-a-half times in 72 months.

2.5× in 72 months

Purpose: Long-term wealth building for members through a single deposit.
Eligibility: Members of the Society.
Minimum deposit: ₹1,000, and thereafter in multiples of ₹100.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: 72 months.
Interest / rate: The deposited amount becomes 2.5 times on maturity (rate not separately printed).
Maturity: 2.5 times the amount deposited, after 72 months.
Premature withdrawal rules: No premature payment up to 3 years. After 3 years, premature payment carries interest at 6% p.a.

JMSY 2010

Jumbo Mahila Samriddhi Yojana (JMSY 2010)

A deposit scheme exclusively for women members, under which the deposit doubles in 61 months.

Women members · 2× in 61 months

Purpose: Encouraging savings among women members of the Society.
Eligibility: Women members of the Society only.
Minimum deposit: ₹5,000, and thereafter in multiples of ₹100.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: 61 months.
Interest / rate: The deposited amount doubles on maturity (rate not separately printed).
Maturity: Two times the amount deposited, after 61 months.
Premature withdrawal rules: No premature payment up to 3 years. After 3 years, premature payment carries interest at 6% p.a.

Double Bond-2065

Jumbo Double Bond

A deposit under which the amount deposited doubles in 65 months.

2× in 65 months

Purpose: Medium-term growth for members through a single deposit.
Eligibility: Members of the Society.
Minimum deposit: ₹1,000, and thereafter in multiples of ₹100.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: 65 months.
Interest / rate: The deposited amount doubles on maturity (rate not separately printed).
Maturity: Two times the amount deposited, after 65 months.
Premature withdrawal rules: No premature payment up to 3 years. After 3 years, premature payment carries interest at 6% p.a.

Monthly income

Monthly income for members

MIS 2004

Jumbo Monthly Income Scheme (MIS 2004)

A lump-sum deposit that pays interest every month — designed with retired members in mind.

Monthly interest

Purpose: Regular monthly income from a one-time deposit; the booklet describes it as particularly useful for retired members.
Eligibility: Members of the Society — single, joint or minor account (operated by the guardian). A Savings Account with the Society is mandatory for crediting the monthly interest.
Minimum deposit: ₹10,000, and thereafter in multiples of ₹1,000.
Maximum deposit: Details available as per the applicable scheme rules.
Tenure: 3 years or 5 years.
Interest / rate: 12% p.a. (3 years) or 12.5% p.a. (5 years) — paid monthly: ₹1,000 or ₹1,042 per month on a deposit of ₹1 lakh.
Maturity: Principal returned on maturity with a maturity bonus of 2% (3-year option) or 4% (5-year option).
Premature withdrawal rules: Lock-in of 18 months (3-year option) or 36 months (5-year option). Withdrawal after the lock-in but before maturity: interest from the last monthly payment date to the date of payment is paid at 6% p.a. compounded annually.

Period	Interest	Monthly income on ₹1 lakh	Lock-in period	Maturity bonus
3 years	12%	₹1,000	18 months	2%
5 years	12.5%	₹1,042	36 months	4%

Other important conditions

Monthly interest is credited to the depositor's Savings Account; on request it may instead be credited to a Recurring Deposit account opened for the depositor.
A loan of up to 80% of the deposited principal is available at 22% p.a. (monthly compounding); during the loan period the monthly MIS interest is credited to the loan account.

Deposit Framework

How Member Deposits Are Safeguarded by the Bye-laws

The registered bye-laws place clear limits on how the Society raises and holds member deposits.

Members only

Deposits are accepted only from members, and every deposit agent must be a member of the Society.

Bye-laws 3.2, 18.1

Deposit ceiling

Total deposits may not exceed ten times the paid-up share money; total liabilities are capped at ten times the paid-up share capital, reserve fund and building fund, net of losses, without the Registrar's prior approval.

Bye-law 18.4

Liquidity reserve

At least 10% of total deposits is kept as fixed deposits with a Central Co-operative Bank, the Apex Bank, a Scheduled Bank or a Nationalised Bank.

Bye-law 14.8.14

Approved policy

Any change in the deposit policy or loan policy requires the approval of the Annual General Meeting and of the Registrar.

Bye-law 18.5

Board-set interest

Interest on deposits and loans is fixed with regard to the Society's income, cost of funds and members' interests, and reviewed by the General Body.

Bye-law 14.8.9

Investment rules

Surplus funds are invested only in the avenues permitted by Section 49 of the Act and Rules 56 and 68 — co-operative banks, scheduled banks and approved securities.

Bye-law 9

The Society is a co-operative society, not a bank. It does not claim that deposits are insured or guaranteed by any Government agency, and no statement on this website should be read as such.

Interested in a scheme?

Members can open an account at the registered office. Non-members may begin with a membership enquiry.

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