Benefits of Daily Deposit Scheme at Adarsh Credit Co-operative Society Ltd.

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.

Adarsh Credit helps you choose the right investment scheme!

Opting for the right scheme is one of the biggest hurdles that are faced by many new investors. You should be able to define an objective of why are you investing. Let’s go through various schemes and their benefits.

Fixed deposit:

A fixed deposit is a high-interest-yielding term deposit that is offered by major financial institutions in India. Adarsh Credit Co-operative Society offers this scheme for various tenures which the members can choose as per their requirement. Also, Adarsh Credit offers attractive interest rates that are based on the tenure of the Fixed Deposit.

PERIOD (IN MONTHS)INTEREST RATE (IN % PER ANNUM)
129.00
249.00
369.50
489.50
6010.00

Recurring Deposit:

Recurring Deposit is a special kind of term deposit is also offered by major financial institutions. Adarsh Credit Co-operative Society helps people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Recurring Deposits.

PERIOD (IN MONTHS)RATE OF INTEREST (IN % PER ANNUM)MATURITY AMOUNT (IN ₹)
129.001,259.00
249.502,643.00
3610.004,187.00
4810.005,871.00
6010.507,820.00
7210.759985.00
12011.0021262.00

Daily Deposit:

Even the smallest savings count on a rainy day. Daily Deposit Scheme is a popular product which works on the same philosophy. Adarsh Credit provides this scheme with as low as ₹10 per day; you can save enough money along with earning an impressive interest as well. It is popularly known as Pigmy Deposit.

PERIOD (IN MONTHS)RATE OF INTEREST (IN % PER ANNUM)
128.00
2410.00

Monthly Income Scheme:

The Monthly Income (MI) is a unique scheme provided only by Adarsh Credit Co-operative Society, where members can invest a lump sum amount and get returns every month till the end of the tenure after adding a special interest rate. Members from Adarsh Credit can choose investment amount along with the duration and earn interest on the same.

PERIOD (IN MONTHS)RATE OF INTEREST (IN % PER ANNUM)MONTHLY INCOME ON ₹ 10,000 INVESTED (IN ₹)
128.5070.83
248.5070.83
369.0075.00
489.0075.00
609.5079.17
729.5079.17

So in which scheme do you want to invest? Not sure? Place an inquiry and we will help you decide the right option for you.

Adarsh Credit Co-operative society inaugurates new corporate office in Ahmedabad

India’s leading Credit Co-operative Society, Adarsh Credit opened its new corporate office in Ahmedabad. The office is located in a prime location of the city. Mr. Rahul Modi, MD and Ms. Damyanti Bhandari, Executive Vice President had inaugurated the office in Ahmedabad.

The new corporate office brings all departments together and the whole space is designed to reflect the personality of their business. The office is designed to help boost employee productivity and, in turn add to the company’s growth.

Adarsh Credit Co-operative Society has set a target of opening 1 lakh micro-branches across India to provide financial services to villages along with employment opportunities to more than 25000 people each year till 2020. Adarsh Credit also introduced a mobile application for transactions for its members in 2016 as well. It is a proud moment for Adarsh Credit that over 95% of all their financial transactions are done using Adarsh Money Mobile Application.

This mobile application was introduced with an extended thought of having a cashless economy. Adarsh Credit not only introduced a cashless way of doing transactions but also introduced technological advancements in the financial industry.

The new corporate office is yet another huge step towards this goal. It will accommodate more than 350 employees. It has an open floor and all departments are working together. The main objective behind the open floor was to have a flat hierarchy and an open environment.

The office is situated on the 4th floor of Zodiac Square, Opp. Gurudwara, S. G. Highway, Ahmedabad. This new technologically advanced corporate office will ensure that the team will take Adarsh Credit Co-operative Society to a whole new level. All the departments can sit as a team and collectively enhance the quality of work and productivity.
This is a major milestone for Adarsh Credit Co-operative Society and hopefully will keep achieving more of these.

Another milestone for Adarsh Credit Co-operative Society Ltd. as we participate in SAP FSI Forum in London

The world is going digital and it’s creating a huge impact on every industry. The constant change in technology is opening arenas for more advancement. Like all other sectors, the financial sector is also impacted. It is getting more competitive and that is exactly why this is the right time to go digital! Adarsh Credit Co-operative Society Ltd. has been a part of the SAP Forum from two consecutive years.

Adarsh credit goes to London!

SAP Financial Services Forum brings together over 500 banking and insurance delegates and financial services experts from over 40 countries. We, at Adarsh Credit Co-operative Society Ltd. take pride in announcing that our Managing Director – Mr. Rahul Modi will be an honored speaker at the SAP Forum. He will be talking about the society’s various initiatives towards connecting the masses through the power of mobile technology.

Along with Mr. Modi, many other delegates from all around the world will be sharing their experiences on how they embarked their digital journey. There are many technological milestones that we have achieved being the most techno-savvy Credit Co-operative Society in India. For example, we have implemented IPSEC BO for end-to-end data encryption and installed firewalls for each branch to restrict unauthorized handshake. Additionally, we have implemented and installed NAC (Network Access Controller) for end-point security to limit access in Adarsh’s network over the internet.

We, at Adarsh Credit have also setup real-time DR solutions to ensure business continuity in case of any disaster or unknown situation. There is a disaster recovery setup too, built to help preserve the society’s reputation among customers and partners. This also ensures that our member data is extremely secure and in safe hands.

Financial technology has grown to be an essential part of the industry. Digital methods need to provide a great experience to clients and our Credit Co-Operative Society has taken care of every small detail. Today, our members are having a great experience through the usability, content and access as well.

Indeed, Adarsh Credit Co-operative Society Ltd. is framing the future with its technological milestones. Become a member of Adarsh today!

Adarsh Exclusive Products for higher term deposit rates

Since genesis of Adarsh, we have been catering various financial services and products to our members. Apart from being most competitive among the products offered by other co-operative societies in India, our products also help you earn higher interest rates than others.

We have products for your every dream, need and wish. In addition to major products such as savings account, current account and FD, Adarsh Credit Co-Operative Society Ltd. offers you an elite range of investment schemes called Adarsh Exclusive Products. This elite range comprises of various Term Deposit schemes under which you can get your investment multiplied within a short tenure. Read ahead to know more about these schemes:

A-15

While allowing you to invest the minimum amount of Rs. 5000 for a short tenure of 15 months, A-15 is the Term Deposit scheme. It helps you earn high term deposit interest rate of approximately 10.98% (Quarterly Compound).

Adarsh 18

This 18-month Term Deposit scheme offers you approximately 10.60% rate of interest on your valuable deposit. Apart from pretty good interest, Adarsh 18 also provides you several other perks. Nomination availability, loan facility and secured returns are to name a few.

A-36

A-36 offers you the best return on your investment at the end of 3 years of its fixed term. You can make an investment as small as just Rs. 500 after which you can invest in multiples of Rs. 100. The Term Deposit interest rate you get with A-36 is somewhere around 10.13% (Quarterly Compound).

Adarsh Bachat Patra

Within just 84 months of tenure, you can double your investment with Adarsh Bachat Patra. Available exclusively for the Adarsh members, this Term Deposit comes with a benefit of premature withdrawal according to some defined conditions by the society.

Adarsh Triple

As its name depicts, Adarsh Triple gives you three times your invested amount on maturity (after 144 months). With approximately 9.26% rate of interest, this Term Deposit scheme allows you to deposit the minimum amount of Rs. 500 and for further investment; you can invest in multiples of Rs. 100.

So in which Term Deposit scheme do you want to invest? Not sure? Place an inquiry and we will help you decide the right option for you.

Adarsh - Adopting the latest technologies

Adarsh Credit Co-operative Society – Adopting the latest technologies

With help of various technological adaptations, Adarsh Credit Co-operative Society has always sustained to be most-preferred among other co-operative societies in India. From its genesis, the society has been delivering the best financial services to its members and also winning their hearts.

Let us have a look at some major adaptations we have done so far:

IBM Flash Storage

Adarsh Credit is the first adopter in co-operative segment to spend in IBM Flash Storage. Flash technology allows our business to analyze more data, process more transactions and accelerate the services. At the same time, it also makes us increase the potential business revenue. Recently, we have executed Cisco Unified Communication Setup which is one more adaptation in the sector of co-operative societies.

Furthermore, ISMS Framework has been also defined for the organization. It’s amazing that we have dual MPLS connectivity in each branch with approximately 1 mbps of bandwidth to maintain the failover.

Great security measures

In our organization, we have installed one of the best-known firewall devices entitled as Watch guard in our branches, DC and DR for maintaining the security aspects such as NAT, content filtering, port filtering, IPs (Intrusions Preventions), SPAM blocker, web filtering and MAC based restrictions.

In order to enable virus protection, Symantec End Point (SEP) has been installed which guarantees dual secure layer and does URL based filtering to protect against malwares and viruses.

Great measures in networking

For end-to-end data encryption, Adarsh Credit Co-operative Society has implemented IPSEC BO and installed firewalls for all branches for restricting unauthorized handshake. Network Access Controller (NAC) is used for establishing end-point security to limited access in Adarsh’s network. Here, devices aren’t endorsed to connect unless they meet pre-defined business policies that are enforced by NAC product every time if any connection is to be attempted.

By using such advancements in technologies and tools, Adarsh Credit Co-Operative Society is on the way forward to deliver best services to its members and advisors.

Benefits of being a member of credit co-operative society

Benefits of being a member of credit co-operative society

Credit co-operative societies are not a new concept. It has been active in almost all the countries since many years now. A credit co-operative society is nothing but an autonomous organisation of people, voluntarily associated to fulfil their basic requirements and aspirations. These societies have their own benefits. Let’s quickly get on them:

1. Easy to form

Formation of a credit co-operative society is simpler than any other business organisations. Any ten or more adults can join together to form the society and even registration is simple and easy. Not much legal formalities are required to maintain for its formation.

2. No membership obstruction

Unless particularly debarred, the membership of such a society is open for everyone. There is no obstruction on the basis of colour, caste, creed, sex or religion. Any person can join the society anytime and become its member.

3. Limited liability

Mostly the liability of members is limited to the extent of capital contributed to the society by the respective members. This way, if the society suffers financial loss, the members don’t have to bear the fear of losing their private property.

4. Economic operations

In a credit co-operative society, there is an elimination of the middlemen which is why the operations carried out by the society are economical. At minimum cost, the middlemen’s services are provided by the members of the society. Also, the recurring and non recurring expenses are also very less.

5. The main motive of service

Members are provided with the best financial services at very reasonable cost.The society also caters financial help to its members at minimal rates. They help their members to set up their production units. For example, Credit Co-operative Societies help farmer members for their agricultural products.

6. Democratic management

Credit co-operative society is exclusively managed by elected members among themselves. All of them have equal rights in all manners and they can also take part actively in the formation or amendments of the society’s policies. This way, all the members are equally important to the credit co-operative society.

Adarsh Credit Co-Operative Society is one of the most recognizable and most trusted credit co-operative societies in India. Our society caters to all these benefits along with extra perks of having secure financial products and great return on investments.

So join Adarsh Credit Co-Operative Society today and become its member.

Enhancing female education in the country

Adarsh Credit Co-Operative Society’s initiative towards enhancing female education in the country

As the world is quickly moving towards digitization, it is necessary to upgrade the level of education and awareness in people , especially when it comes to rural regions of the country, digitization becomes very challenging for them. The dream of making India digital can be achieved only with the collaborative efforts.

We, at Adarsh Credit Co-Operative Society Ltd., understand this very well and we always try to spread the awareness among people regarding cashless transactions. With an aim to enhance the standard of rural education, we have taken a step forward. For the betterment of society, we have thought to have a school, especially for girls.

Even after maliciously dragged into the forged rumours and scandals, we managed to do our best for the betterment of the society. We, at Adarsh Credit Co-Operative Society Ltd., are very happy to announce that we have already taken a step forward towards fulfilling our dream of building Vidhyawadi – a school to educate girls. Our dream is gradually taking shape as its construction work has already begun. Our country is a developing country where female education is a sensitive and yet a significant topic and hence, we have taken this initiative in our hands.

We, at Adarsh Credit Co-Operative Society are looking forward to take more such initiatives in upcoming years and execute them in the favour of society’s welfare.

Adarsh Credit Co-Operative Society supports RBI’s move to open up unified payment interface (UPI)

Adarsh Credit Co-Operative Society supports RBI’s move to open up unified payment interface (UPI)

The Reserve Bank of India, on 20th March, announced a plan for making digital wallets inter-operable through UPI (Unified Payments Interface) platform. This is under the digitization program of the Government. According to some reports issued by the Reserve Bank of India, the guidelines for interoperability of the wallets and KYC (Know Your Customers) are yet to be prescribed.

What is Interoperability?

It lets you transfer direct money from one digital wallet to another digital wallet without the need of going through traditional banking. Adarsh Credit Co-Operative Society’s mobile application platform Adarsh Money has already tied up with a digital wallets such as Oxigen Wallet , Jio Money and Airtel money.

Inspite of some false allegations which are being spread about Adarsh Credit Co-Operative Society Ltd., we have always continued to serve the best interest to our members and such false accusations will never work and will not impact the loyalty of our members and advisors.

Adarsh Credit Co-operative Society reviews this move by the Reserve Bank of India as a much needed step to bring our country into a digital platform and to promote the Digital India campaign.

We, at Adarsh Credit Co-Operative Society Ltd always believe that the proposed RBI guidelines for opening for Unified Payment Interface would boost up the mobile banking, ecommerce transactions and online payments.

Ultimately, this will eliminate the requirement of using paper currency and will promote more cashless transactions and will lower the overall corruption rate in the country.

One of the most reliable co-operative societies in India

Adarsh Credit Co-operative Society – One of the most reliable co-operative societies in India

Adarsh Credit Co-operative Society Ltd. has always worked very hard and put in all the efforts to reach at the top position. All the technologies that we use are streamlined and help us to sustain and grow our current business. The modern technological adaptations have also helped us to come up with various new features and products that ultimately support our business development. This can be counted as one of the factors of Adarsh Credit Co-operative Society to become the most successful co-operative societies in India.

We, at Adarsh Credit Co-operative Society, have adopted the world’s most prominent technology and tools for core financial solutions and mobility solutions. This is how Adarsh Credit Co-operative Society has become successor in terms of reliability and sustainability among its members. Since we have started, we have been serving more members day in and day out. For this, we had to make sure that our systems work round the clock, which demanded increasing software and hardware costs which ultimately began to hurt our margins.

Without much strategic planning, we went through a phase of adding servers. We were running around several physical servers at our primary data center and around the same number at our secondary site. The lists of solutions were expanding and the server platform was getting bigger. We had to take steps as the costs were increasing day by day. As we were operating with very low margins, it was essential for us to keep the expenses as low as possible.

Later on, we turned into virtualization and were able to run more virtual machines on the physical servers with VMware, compared to our competition. From all our servers, around 95% are now visualized and we expect this figure to reach 100% soon. So after all; everything went good also from the cost perspective.

This is how, through infrastructure and technology, we have become successor in terms of growth and reliability.