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SIP

SIP account lets member’s deposit a fixed installment every month on which they earn a cumulative return (Yearly Compounding) on maturity. Adarsh provides SIP interest rates depending on the tenure of the SIP.

For investment of ₹ 100 per month:

Period (in months) Rate of Interest (in % per annum)Maturity Amount (in ₹)Maturity amount on quarterly deposit of ₹ 1000Maturity amount on half yearly deposit deposit of ₹ 1000
129.001,259.004,225.00NA
249.502,643.008,878.004,489.00
3610.004,187.0014,068.007,117.00
4810.005,871.0019,724.009,978.00
6010.507,820.0026,283.0013,303.00
7210.759,985.0033,566.0016,994.00
12011.0021,262.0071,487.0036,203.00

Interest rates effective from January 01, 2018
*SIP products are also available through NACH (National Automated Clearing House)

FAQ

What is the tenure of SIP deposit scheme?

For SIP Deposit, there are various tenure available like 1 year, 2 years, 3 years, 4 years, 5 years, 6 years and a maximum tenure of 10 years.

How much is minimum investment amount for SIP deposit scheme?

Monthly deposit- The minimum amount of investment is ₹ 100 for SIP and after that in multiples of ₹ 50/-.
Quarterly and half yearly deposit- The minimum amount of investment is ₹ 1000 for SIP and after that in multiples of ₹ 500/-.

How much interest can a member earn in SIP deposit scheme?

The interest rate of the product is as follows:-

  • 1 Year – 9.00% Yearly Compounding
  • 2 Years – 9.50% Yearly Compounding
  • 3 Years – 10.00% Yearly Compounding
  • 4 Years – 10.00% Yearly Compounding
  • 5 Years – 10.50% Yearly Compounding
  • 6 Years – 10.75% Yearly Compounding
  • 10 Years – 11.00% Yearly Compounding

Is there any facility for prematurity in SIP deposit scheme?

Members can premature this deposit as per followings rules:-

(A) For scheme of 12 months duration:

  • Not allowed upto 6 months
  • No interest payable on prematurity payment after 6 months and up to 9 months. Service charge of 2% and stationery charge of ₹ 30/- will be recovered.
  • For pre maturity payment of accounts after 9 months to 12 months, Interest will be paid at the rate of 3% Simple interest and Stationery charge of ₹ 50/- will be recovered.

(B) For scheme of 24 months duration:

  • Up to 12 months: Pre maturity not allowed.
  • After 12 months up to 18 months: Interest rate at the rate of 2% per annum
  • After 18 months up to 24 months : Interest rate at the rate of 3% per annum

(C) For scheme of 36 months duration:

  • Up to 18 months : Pre maturity not allowed.
  • After 18 months up to 24 months : Interest rate at the rate of 2% per annum
  • After 24 months up to 36 months : Interest rate at the rate of 3% per annum

(D) For scheme of 48 months duration:

  • Up to 24 months: Pre maturity not allowed
  • After 24 months up to 36 months : Interest rate at the rate of 2% per annum
  • After 36 months up to 48 months : Interest rate at the rate of 3% per annum

(E) For scheme of 60 months and 72 months duration:

  • Up to 36 months: Pre maturity not allowed
  • After 36 months: Interest rate at the rate of 3% per annum

(F) For scheme of 120 months duration:

  • Up to 60 months: Pre maturity not allowed
  • After 60 months: Interest rate at the rate of 3% per annum

Is there any facility for loan in SIP deposit scheme?

Loan facility is available as per following rules:-

Regular monthly SIP scheme:

(A) For schemes of 12 months and 24 months duration:
After 6 months (post receipt of 6 installments) : Up to 60% of Deposit amount.

(B) For schemes of 36 months and 48 months duration:
After 12 months (post receipt of 12 installments): Up to 60% of Deposit amount.

(C) For schemes of 60 months and 72 months duration:
After 24 months (post receipt of 24 installments): Up to 60% of Deposit amount.

(D) For scheme of 120 months:
After 60 months (post receipt of 60 installments): Up to 60% of Deposit amount.

Quarterly SIP scheme:

(A )For Scheme of 12 and 24 Months duration:
After 6 Months ( post receipt of 2 installments) : Upto 60% of Deposit amount.

(B) For Schemes of 36 and 48 Months duration:
After 12 Months ( post receipt of 4 installments) : Upto 60% of Deposit amount.

(C) For Schemes of 60 and 72 Months durations
After 24 Months ( post receipt of 8 installments) : Upto 60% of Deposit amount.

(D) For Scheme of 120 Months duration:
After 60 Months ( post receipt of 20 installments) : Upto 60% of Deposit amount.

Half yearly SIP scheme:

(A) For Schemes of 24, 36 and 48 Months duration:
After 12 Months ( post receipt of 2 installments) : Upto 60% of Deposit amount.

(B) For Schemes of 60 and 72 Months duration:
After 24 Months ( post receipt of 4 installments) : Upto 60% of Deposit amount.

(C) For Scheme of 120 Months duration:
After 60 Months ( post receipt of 10 installments) : Upto 60% of Deposit amount

Are there any special rates?

No! The rate of interest is fixed in this product so no special benefit is available for senior citizens and women.

What are the charges if a member skips installments on SIP deposit scheme?

Monthly deposit – Amount of ₹ 1.50 per hundred per month will be recovered if installments are not deposited on regular basis.

Quarterly- Amount of ₹ 4.50 per hundred per month will be recovered if installments are not deposited on regular basis.

Half yearly- Amount of ₹ 9 per hundred per month will be recovered if installments are not deposited on regular basis.

AVAIL GREAT SIP INTEREST RATES

Adarsh Credit Co-Operative Society always believes in providing the most competitive financial products. We always deliver the best interest rates to you. SIP is just like our other investment schemes. In this scheme also, we provide great SIP interest rates.

If you wish to invest in our SIP scheme, there are three different schemes:

  • Monthly: Deposit a fixed instalment every month
  • Half-yearly: Deposit a fixed instalment half-yearly
  • Quarterly: Deposit a fixed instalment quarterly

According to your selected SIP scheme, you have to pay the instalments on which you will earn a cumulative return on maturity. The SIP interest rates are higher, guaranteed which will vary for different tenures. Our SIP interest rates range from 9% to 11%. These SIP products are available to you through NACH, too.

Disclaimer: All the products and services of the Society are exclusively available for members of Adarsh Credit Co-operative Society Ltd. only.

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