Daily Deposit Scheme Terms and Condition
- The minimum denomination of the scheme is Rs.10/- per day and in multiples of 10.
- The company reserves the right to reject any application for opening the account without assigning any reason.
- The company reserves the right to attach/transfer any account to any its branch.
Tenure of Payment
The tenure of the account is 12 months and above.
Mode Of Payment:-
- a) All payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its authorized signatory payments by any mode or media other than mentioned above shall be at the member account holder’s own risk. The cheque/draft shall be credited in the name of member Account Holder subject to clearance by the bank. Out station cheques shall not be accepted.
b) Installments are to be paid regularly in each working day. The member account holder will have to deposit 30 days payment in the month.
A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the pass book updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.
The Member Account Holder shall surrender the passbook and duly signed maturity form to the company and the maturity shall be paid along with interest as per the below mentioned Chart. No additional interest would be paid on the maturity amount, if taken after the scheduled period
- Maturity payment of regular accounts.
On deposit of Rs. 10/- per day Maturity Amount shall be paid to the Member Account Holder within 45 days from the demand made with the company as per the following chart(for daily mode)
- Pre-Maturity is not allowed at any point of time but member can avail loan facility.