Monthly Income Scheme

Terms & Conditions

  • Minimum deposit of Rs.10000/-and Next in multiple of Rs.5000/-
  • Every Monthly interest scheme required saving account because monthly interest is transfer to saving account.
  • Period of monthly interest scheme is 1 years to 10 years.
  • Rate of interest is calculated on normal base.
  • No pre-maturity before tenure.
  • Secured loan facility available after 6 months from the date of deposit.
  • Maximum secured loan up to 60% of the total deposit amount.
  • Rate of interest will be 2.00% monthly compound on secured loan amount.
  • If pre-mature before tenure extra interest will be deduct from the principal amount.
  • No TDS applicable on interest paid as per rules of society Act -2002.
S. No. Duration Deposit Amount
Interest Rate % Pay Amount
1 1 Years 10000 10.50 87.50
2 2 Years 10000 11.00 91.70
3 3 & 4 Years 10000 11.50 96.00
4 5 & 6 Years 10000 12.00 100


Payment Pre-Maturity

UP TO 24 MONTHS Not allowed
Above 3 Years Plan: After 3 year, one can go for premature payment facility. In this case the Calculation of interest on premature payment will be applicable as per saving a/c’s rate of interest and already paid interest amount will be deducted from the principal amount


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