This Daily Deposit Scheme will encourage the members of Adarsh Credit Co-operative Society Ltd. to develop a habit of saving on a daily basis. It will also enable them to deposit money every day from their home or work place itself. It will help them save for their future financial requirements.
The members can start with deposits as low as ₹10 per day. You can save enough money along with earning an attractive interest as well. It is popularly known as Pigmy Deposit.
The advantage of opening a Daily Deposit Account is that the depositor would be able to save certain sums on a daily basis so that he/ she would be able to meet an anticipated liability or obligation after the end of a specified period.
The minimum tenure is 1 year and maximum tenure is 2 years for a Daily Deposit Scheme.
Additionally, the minimum amount of investment is Rs. 10 for Daily Deposit Scheme and post that, deposits can be made in multiples of 5.
Adarsh Credit provides daily deposit scheme at the interest rate of 8% for 1 year and 10% for 2 years.
There is a premature facility that is available at Adarsh Credit Co-operative Society as per applicable circular.
Adarsh Credit also has loan facility available against Daily Deposit Scheme. All its members can avail maximum 60% loan against their investment amount in DDS (Minimum Deposit Balance Rs. 1000/-). The interest rate will be applicable as per rules of the Adarsh Credit Co-operative Society Ltd.