Deposits & Investment Schemes
Recurring Deposit Scheme @10.00%
| SR.NO. | PRINCIPLE | TERM IN MONTHS | MATURITY AMOUNT |
|---|---|---|---|
| 1 | 500 | 12 | 6325 |
| 2 | 1000 | 12 | 12650 |
| 3 | 1500 | 12 | 18975 |
| 4 | 2000 | 12 | 25300 |
| 5 | 2500 | 12 | 31625 |
| 6 | 3000 | 12 | 37950 |
| 7 | 3500 | 12 | 44275 |
| 8 | 4000 | 12 | 50600 |
| 9 | 4500 | 12 | 56925 |
| 10 | 5000 | 12 | 63250 |
| 11 | 10000 | 12 | 126500 |
| 12 | 15000 | 12 | 189750 |
| 13 | 20000 | 12 | 253000 |
| 14 | 25000 | 12 | 316250 |
Fixed Deposit Scheme @10%
| SR.NO. | PRINCIPLE | TERM IN MONTHS | MATURITY AMOUNT |
|---|---|---|---|
| 1 | 10000 | 12 | 11200 |
| 2 | 20000 | 12 | 22400 |
| 3 | 30000 | 12 | 33600 |
| 4 | 40000 | 12 | 44800 |
| 5 | 50000 | 12 | 56000 |
| 6 | 60000 | 12 | 67200 |
| 7 | 70000 | 12 | 78400 |
| 8 | 80000 | 12 | 89600 |
| 9 | 90000 | 12 | 100800 |
| 10 | 100000 | 12 | 112000 |
OTHER SCHEMES/BENEFITS
Cumulative Deposits
Every Member of the Society shall contribute to the Society a Minimum Monthly cumulative deposit of Rs.1500/- till he continues to be a Member of the Society. However, the General Body may increase and fixed the limit of Monthly Cumulative Deposit from time to time.
Group Insurance Policy/Kotak Life Insurance Ltd.
The Group Insurance cover is provided up to Rs.200000 by LIC of India and insurance premium is calculated on the basis of age group and loan outstanding as on the date of renewal or as per plans & policies revised by the LIC of India. The premium towards the loan amount towards Group Insurance cover will be deducted once in a year. The scheme provides financial relief to the family members of loanee members & sureties incase of death of loanee member.
Recently the board has decided to cover loan up to Rs.10 lakh with Kotak Life Insurance Ltd. Due to increase in loan. The Premium towards the loan amount will be deducted on the day of sanctioned of loan in one installment. The scheme provides financial relief to the family members of loanee members & sureties incase of death of loanee member.
Death Relief Assurance Scheme (DRAS)
This Scheme is introduced by TCA Ltd. This scheme gives opportunity for security to loans, relief to sureties, bereaved family members from repay of loan, no annual premium, risk cover, assurance for any type of death. Warranty of refund of deposit, opportunity for voluntary withdrawals and contribution for social obligation: In brief, this scheme comes to the rescue if not only to the family of deceased member but also avoids the hardship on sureties. Members are eligible for maximum assured relief amount in respect to their age.
The DRAS scheme is as under
| Age Group | DRAS deposit | Times of Deposit | Assured Relief Amt. |
| 18 to 45 years | Rs. 5,000/- | 16 | Rs. 80,000/-(Max) |
| 46 to 58 years | Rs. 5,000/- | 12 | Rs. 60,000/-(Max) |